Greater Brownsville Incentives Corporation
- Assets
- $32.1m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Brownsville, TX
- Founding
- 08/1992
- Data as of
- 09/2021
- EIN
- 74-2628588
Organization Overview
Greater Brownsville Incentives Corporation is located in Brownsville, TX. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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 Brownsville Incentives 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, Greater Brownsville Incentives Corporation generated $6.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $4.7m during the year ending 09/2021. While expenses have increased by 4.6% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT ON BEHALF OF THE CITIZENS OF BROWNSVILLE TX TO PROMOTE AND ENHANCE THE ECONOMIC AND INDUSTRIAL DEVELOPMENT OF THE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM SERVICE ACCOMPLISHMENT IS A CONTRACT AGREEMENT WITH KEPPEL AMFELS TO CREATE AND RETAIN JOBS IN THE CITY OF BROWNSVILLE. IN THE FOURTH YEAR OF THE AGREEMENT, KEPPEL AMFELS RETAINED 700 JOBS ABOVE BASE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mario A Lozoya Executive Director | 40 | $285,562 | |
Ramiro Aleman Director Of Bre | Officer | 40 | $81,641 |
Karla DE La Riva Asst Director Of Bre | Officer | 40 | $53,901 |
Elsa Galvan Executive Assistant | Officer | 40 | $47,228 |
Roy DE Los Santos Secretary | Officer | 1 | $0 |
Nurith Galonsky-Pizana Vice Chairman | Officer | 1 | $0 |
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 | $6,105,221 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,105,221 |
| Total Program Service Revenue | $0 |
| Investment income | $105,817 |
| 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 | $6,507,551 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $713,500 |
| 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. | $530,486 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,627 |
| Payroll taxes | $27,407 |
| Fees for services: Management | $256,908 |
| Fees for services: Legal | $20,000 |
| 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 | $4,414 |
| Office expenses | $73,486 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,638 |
| Travel | $2,318 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,478 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,214 |
| Insurance | $4,745 |
| All other expenses | $125,798 |
| Total functional expenses | $4,729,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,549,281 |
| Savings and temporary cash investments | $8,072,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,071,439 |
| 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 | $14,375,166 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,068,237 |
| Accounts payable and accrued expenses | $2,138,297 |
| 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 | $2,138,297 |
| Net assets without donor restrictions | $26,397,072 |
| Net assets with donor restrictions | $3,532,868 |
| 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 | $32,068,237 |
Grants Awarded
Over the last fiscal year, Greater Brownsville Incentives Corporation has awarded $713,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
KEPPEL AMFELS PURPOSE: Job Creation Credit | $405,000 |
Mercedes, TX PURPOSE: Career Center Project | $200,000 |
NATIONAL ELECTRIC COIL PURPOSE: Job Creation Credit | $108,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |