Greater Austin Economic Development Corporation

Organization Overview

Greater Austin Economic Development Corporation is located in Austin, TX. The organization was established in 2004. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Austin Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Greater Austin Economic Development Corporation generated $3.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

OPPORTUNITY AUSTIN IS A REGIONAL ECONOMIC DEVELOPMENT INITIATIVE AIMED AT FOSTERING JOB-CREATING INVESTMENT ACROSS THE AUSTIN REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OPPORTUNITY AUSTIN INVESTS IN A PORTFOLIO OF INITIATIVES THAT SUPPORT JOB CREATION,EMPLOYABILITY, AND ECONOMIC OPPORTUNITIES FOR ALL. IT SERVES AS A CATALYST IN THEIDENTIFICATION, EVALUATION, AND PURSUIT OF OPPORTUNITIES THAT PROMOTE AND SUPPORT:(1) AN ECONOMY THAT IS INCLUSIVE AND INNOVATIVE,(2) A WORKFORCE THAT IS EDUCATED AND EMPLOYED, AND(3) COMMUNITIES THAT ARE AFFORDABLE AND ACCESSIBLE.


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Board, Officers & Key Employees

Name (title)Compensation
Gary Farmer
Chair
$0
Laura Huffman
Pres/sec
$0
Casey Dobson
Vice Chair
$0
James Dyess
Treasurer
$0
Matthew Dow
Gc/asst Sec
$0
Kerry Hall
Past Chair
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Austin Partners In Education
Consulting
$200,000
Greater Austin Chamber Of Commerce
Contract Services
$1,161,893
Onelogos
Consulting
$140,100
Ray Marshall Center
Consulting
$150,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$528,807
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$528,807
Total Program Service Revenue$3,412,820
Investment income $3,131
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,944,758

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Greater Austin Economic Development Corporation has recieved totaling $546,257.

Awarding OrganizationAmount
Quality Of Life Foundation Of Austin Inc

Austin, TX

PURPOSE: Education Initiatives

$526,257
The Real Estate Council Of Austin

Austin, TX

PURPOSE: OPERATIONAL SUPPORT

$20,000
View Grant Recipient Profile

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