Mcallen Area Economic Development Corporation
- Assets
- $488.8k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Mcallen, TX
- Founding
- 08/2006
- Data as of
- 09/2021
- EIN
- 20-1334546
Organization Overview
Mcallen Area Economic Development Corporation is located in Mcallen, TX. The organization was established in 2006. 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. As of 09/2021, Mcallen Area Economic Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcallen Area 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 09/2021, Mcallen Area Economic Development Corporation generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN THE LEADERSHIP ROLE IN INDUSTRIAL RECRUITMENT AND EXPANSION BY INCREASING JOBS IN THE MCALLEN - REYNOSA AREA. AND TO WORK WITH THE MAYOR, CITY COMMISSION, MCALLEN CHAMBER OF COMMERCE, LOCAL BUSINESS AND THE PRIVATE SECTOR TO PLAN AND IMPLEMENT ECONOMIC DEVELOPMENT STRATEGIES CRITICAL FOR THE CONTINUED GROWTH AND DEVELOPMENT OF MCALLEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PLAN AND IMPLEMENT ECONOMIC DEVELOPMENT STRATEGIES CRITICAL FOR THE CONTINUED GROWTH AND DEVELOPMENT OF MCALLEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Partridge President | Officer | 20 | $0 |
Mark Garcia Vice President Of Finance | Officer | 20 | $0 |
Paul Moxley Chairman | Trustee | 1 | $0 |
Mark Freeland Vice Chairman | Trustee | 1 | $0 |
Dr Pablo Tagle III Secretary | Trustee | 1 | $0 |
Alma Ortega-Johnson Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $900,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $364,290 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,264,290 |
| Total Program Service Revenue | $0 |
| Investment income | $544 |
| 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 | $1,297,522 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $419,167 |
| Pension plan accruals and contributions | $28,738 |
| Other employee benefits | $54,112 |
| Payroll taxes | $33,972 |
| Fees for services: Management | $280,291 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $103,495 |
| Office expenses | $11,436 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,000 |
| Travel | $41,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,696 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,925 |
| Insurance | $19,289 |
| All other expenses | $32,263 |
| Total functional expenses | $1,281,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $460,547 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $601 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,651 |
| Net Land, buildings, and equipment | $12,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $488,783 |
| Accounts payable and accrued expenses | $76,334 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $76,334 |
| Net assets without donor restrictions | $403,873 |
| Net assets with donor restrictions | $8,576 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $488,783 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mcallen Area Economic Development Corporation has recieved totaling $45,344.
| Awarding Organization | Amount |
|---|---|
Mcallen Economic Development Corporation Mcallen, TX PURPOSE: To Support economic development | $45,344 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
Greater Houston Partnership Inc Houston, TX | $22,962,720 | $19,728,312 |
Bbb Serving The Heart Of Texas Austin, TX | $13,203,011 | $18,551,696 |
Visit San Antonio San Antonio, TX | $11,429,570 | $19,048,365 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Meeting Professionals International Dallas, TX | $6,166,822 | $11,031,821 |
Dallas Regional Chamber Dallas, TX | $15,269,996 | $9,505,789 |
Brazos Pilots Association Freeport, TX | $5,263,034 | $10,473,577 |
American Agape Foundation Inc San Antonio, TX | $56,717,465 | $7,832,495 |
Salesmanship Club Of Dallas Dallas, TX | $14,081,869 | $8,485,267 |
United Brotherhood Of Carpenters And Joiners Of America Metairie, LA | $27,400,853 | $8,587,017 |
Texas Oil And Gas Association Inc Austin, TX | $10,912,231 | $6,947,737 |