The Alliance For Economic Development Of Oklahoma City Inc
- Assets
- $9.0m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Oklahoma City, OK
- Founding
- 06/2012
- Data as of
- 06/2022
- EIN
- 45-2034774
Organization Overview
The Alliance For Economic Development Of Oklahoma City Inc is located in Oklahoma City, OK. The organization was established in 2012. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Alliance For Economic Development Of Oklahoma City Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alliance For Economic Development Of Oklahoma City Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Alliance For Economic Development Of Oklahoma City Inc generated $11.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $2.7m during the year ending 06/2022. While expenses have increased by 10.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Alliance For Economic Development Of Oklahoma City Inc has awarded 111 individual grants totaling $2,417,848. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER ECONOMIC DEVELOPMENT THROUGH PRIVATE AND PUBLIC COLLABORATIONS TO CREATE NEW JOB OPPORTUNITIES AND BRING ABOUT URBAN REDEVELOPMENT BY MEANS OF CONSOLIDATED AND COORDINATED PUBLIC AGENCY ECONOMIC DEVELOPMENT FUNCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CITY OF OKLAHOMA CITY RECEIVED FEDERAL CORONAVIRUS RELIEF FUNDS (ARPA) IN FISCAL 2022. PER OPERATION AGREEMENT FOR THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS BUSINESS SUPPORT PROGRAMS BETWEEN THE CITY OF OKLAHOMA CITY AND THE ALLIANCE FOR ECONOMIC DEVELOPMENT OF OKLAHOMA CITY, THE ALLIANCE WILL OPERATE A FISCAL RECOVERY FUNDS BUSINESS SUPPORT PROGRAM TO INCLUDE ASSISTANCE IN THE AREAS OF JOB TRAINING AND PLACEMENT, SMALL BUSINESS TECHNICAL ASSISTANCE AND RETROFITS, MINORITY BUSINESS ASSISTANCE, AND NON-PROFIT ASSISTANCE. THIS IS A NEW PROGRAM FOR THE ALLIANCE IN FISCAL 2022 WHEREBY THE ALLIANCE PROCESSED APPLICATIONS FOR FUNDING AND PAID APPROVED APPLICATIONS DIRECTLY TO QUALIFYING SMALL BUSINESSES OR CONSULTANTS. THE CITY OF OKLAHOMA CITY PAID THE ALLIANCE UP FRONT FOR PROGRAM RELATED COSTS AND ADMINISTRATIVE FEES. THE CITY APPROVED ALL PROGRAMS AND HAS ALSO APPROVED ALL PROGRAM RELATED EXPENSES THROUGHOUT THIS PROGRAM.
PROVISION OF PROFESSIONAL ECONOMIC DEVELOPMENT MANAGEMENT AND ADVISORY SERVICES TO THE OKLAHOMA INDUSTRIES AUTHORITY. AS PART OF THIS ARRANGEMENT, THIS ORGANIZATION'S PRESIDENT, CATHERINE O'CONNOR, ACTED AS GENERAL MANAGER OF THE OKLAHOMA INDUSTRIES AUTHORITY UNTIL APRIL 25, 2022 WHEN KENTON TSOODLE TOOK OVER THE ROLE OF GENERAL MANAGER (CATHERINE O'CONNOR AND KENTON TSOODLE RECEIVE NO COMPENSATION FROM THE OKLAHOMA INDUSTRIES AUTHORITY). POLICY-MAKING AUTHORITY REMAINS IN THE GOVERNING BODY OF THE ENTITY BEING SERVED.
PROVISION OF PROFESSIONAL ECONOMIC DEVELOPMENT MANAGEMENT SERVICES AND ADVISORY SERVICES TO THE CITY OF OKLAHOMA CITY AND THE OKLAHOMA CITY ECONOMIC DEVELOPMENT TRUST, INCLUDING SERVICES IN CONNECTION WITH THE CITY OF OKLAHOMA CITY'S MAPS 3 PROGRAM. POLICY-MAKING AUTHORITY REMAINS IN THE GOVERNING BODIES OF THE ENTITIES BEING SERVED.
PROVISION OF PROFESSIONAL ECONOMIC DEVELOPMENT MANAGEMENT AND ADVISORY SERVICES TO THE OKLAHOMA CITY URBAN RENEWAL AUTHORITY. AS PART OF THIS ARRANGEMENT, THIS ORGANIZATION'S PRESIDENT, CATHERINE O'CONNOR, ACTED AS EXECUTIVE DIRECTOR OF THE OKLAHOMA CITY URBAN RENEWAL AUTHORITY UNTIL MARCH 25, 2022 WHEN KENTON TSOODLE TOOK OVER THE ROLE OF EXECUTIVE DIRECTOR (CATHERINE O'CONNOR AND KENTON TSOODLE RECEIVE NO COMPENSATION FROM THE OKLAHOMA CITY URBAN RENEWAL AUTHORITY). POLICY-MAKING AUTHORITY REMAINS IN THE GOVERNING BODY OF THE ENTITY BEING SERVED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Larry Nichols Director | Trustee | 0.2 | $0 |
Ronald J Norick Director | Trustee | 0.2 | $0 |
Clay Bennett Director | Trustee | 0.2 | $0 |
Debby Hampton Director | Trustee | 0.2 | $0 |
Craig Freeman Director | Trustee | 0.2 | $0 |
Tony Tyler Director | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shellback General Contracting Office Remodel | 6/29/22 | $207,016 |
Salesforcecom Inc Cloud Software | 6/29/22 | $152,904 |
Anglin Public Relations Public Relations | 6/29/22 | $156,366 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $10,950,767 |
| Investment income | $265 |
| 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 | $10,951,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $68,771 |
| 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. | $600,624 |
| Compensation of current officers, directors, key employees. | $154,798 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $808,962 |
| Pension plan accruals and contributions | $23,419 |
| Other employee benefits | $88,166 |
| Payroll taxes | $90,925 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,568 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $447,036 |
| Advertising and promotion | $179,179 |
| Office expenses | $76,107 |
| Information technology | $164,776 |
| Royalties | $0 |
| Occupancy | $67,231 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,647 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,097 |
| Insurance | $8,323 |
| All other expenses | $0 |
| Total functional expenses | $2,739,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,714,756 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $328,619 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,043,375 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $882,811 |
| Net assets with donor restrictions | $8,160,564 |
| 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 | $9,043,375 |
Grants Awarded
Over the last fiscal year, The Alliance For Economic Development Of Oklahoma City Inc has awarded $68,771 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ALORI CHANEL LLC PURPOSE: CORONAVIRUS RELIEF | $5,510 |
FREESTYLE PRODUCTIONS LLC PURPOSE: CORONAVIRUS RELIEF | $9,992 |
METTISE LLC PURPOSE: CORONAVIRUS RELIEF | $10,000 |
SPATIUM LLC DBA WORKFLOW PURPOSE: CORONAVIRUS RELIEF | $23,269 |
HSPG & ASSOCIATES PC PURPOSE: CORONAVIRUS RELIEF | $10,000 |
RESOLUTION LEGAL GROUP PURPOSE: CORONAVIRUS RELIEF | $10,000 |