Greater Laredo Development Foundation
- Assets
- $242.3k
- Revenue
- $728.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Laredo, TX
- Founding
- 09/1971
- Data as of
- 09/2022
- EIN
- 74-1623486
Organization Overview
Greater Laredo Development Foundation is located in Laredo, TX. The organization was established in 1971. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2022, Greater Laredo Development Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Laredo Development Foundation 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 09/2022, Greater Laredo Development Foundation generated $728.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $810.8k during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE LAREDO AS AN INDUSTRIAL SITE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF LAREDO AS AN INDUSTRIAL SITE AND OPERATION OF INDUSTRY INFORMATION CENTER FOR NEW BUSINESSES IN THE AREA
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 |
|---|---|---|---|
Tony Arce Past Chairman | OfficerTrustee | 2 | $0 |
Ed Sherwood Vice Chairman | OfficerTrustee | 2 | $0 |
Emilio Richer Secretary | OfficerTrustee | 2 | $0 |
John Villarreal Treasurer | OfficerTrustee | 2 | $0 |
Rolando Ortiz Past Chairman | OfficerTrustee | 2 | $0 |
Dr Steve Sears Vice Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $115,103 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,737 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,840 |
| Total Program Service Revenue | $590,686 |
| Investment income | $0 |
| 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 | $728,926 |
| 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 | $418,435 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,514 |
| Payroll taxes | $32,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $16,668 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,717 |
| Travel | $13,383 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,852 |
| Interest | $205 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,907 |
| Insurance | $13,211 |
| All other expenses | $54,645 |
| Total functional expenses | $810,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,619 |
| 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 | $390 |
| Net Land, buildings, and equipment | $73,064 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4 |
| Total assets | $242,339 |
| 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 | $3,722 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,722 |
| Net assets without donor restrictions | $238,617 |
| Net assets with donor restrictions | $0 |
| 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 | $242,339 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnall Family Foundation Inc Oklahoma City, OK | $11,371,239 | $12,792,638 |
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
The Samuel Roberts Noble Foundation Ardmore, OK | $1,183,090,626 | $85,581,097 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Anne And Henry Zarrow Foundation Tulsa, OK | $347,173,230 | $36,385,260 |