Has Development Corporation
- Assets
- $23.5m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Houston, TX
- Founding
- 12/2006
- Data as of
- 12/2023
- EIN
- 74-3027286
Organization Overview
Has Development Corporation is located in Houston, TX. The organization was established in 2006. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Has Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Has Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Has Development Corporation generated $6.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 22.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SEEKS TO PROMOTE AIR TRANSPORTATION, TRADE, AND ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE HOUSTON AIRPORT SYSTEM AND TO PROVIDE SERVICES, SUCH AS AIRPORT TECHNICAL ADVISORY SERVICES AND PERSONNEL TRAINING, TO AIRPORTS AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL ADVISORY CONSULTING - THE ORGANIZATION GENERATES REVENUE BY PROVIDING AIRPORT TECHNICAL ADVISORY SERVICES BASED ON CONTRACTUAL ARRANGEMENTS.
MANAGEMENT CONTRACTS - THE ORGANIZATION PROVIDES AIRPORT SERVICES DESIGNED TO SUPPLY OPERATIONAL AND MANAGERIAL CONSULTING TO ITS CLIENTS.
HAMILTON SUNDSTRAND - TO PROMOTE GROWTH OF AEROSPACE INDUSTRY, INCREASE EMPLOYMENT AND PROMOTE ECONOMIC ACTIVITY IN HOUSTON
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mario Diaz Chairman Of The Board | OfficerTrustee | 0.5 | $0 |
Michael Cox Vice Chairman | OfficerTrustee | 0.5 | $0 |
Astley Blair Secretary And Treasurer | OfficerTrustee | 0.5 | $0 |
Ada C Silva CFO & Assistant Treasurer | Officer | 40 | $298,125 |
Agustin Arellano President & CEO | Officer | 40 | $422,219 |
Eduardo Iglesias Chief Legal Officer & Assistant Secretary | Officer | 40 | $311,825 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alvaro Gonzalez Airport Mgmt Consulting | 12/30/21 | $189,313 |
Korn Ferry (Us) Recruiting | 12/30/21 | $160,000 |
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 | $1,266,250 |
| Investment income | $5,334,467 |
| 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 | $6,600,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,042,825 |
| 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. | $1,032,169 |
| Compensation of current officers, directors, key employees. | $1,027,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $44,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,911 |
| Fees for services: Accounting | $24,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $365,706 |
| Advertising and promotion | $0 |
| Office expenses | $6,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,185 |
| Travel | $132,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,389 |
| All other expenses | $36,161 |
| Total functional expenses | $2,946,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $305,893 |
| Savings and temporary cash investments | $15,808,745 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $175,777 |
| 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 | $100 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,107,318 |
| Intangible assets | $0 |
| Other assets | $91,812 |
| Total assets | $23,489,645 |
| Accounts payable and accrued expenses | $23,229 |
| 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 | $77,680 |
| Total liabilities | $100,909 |
| Net assets without donor restrictions | $23,388,736 |
| 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 | $23,489,645 |
Grants Awarded
Over the last fiscal year, Has Development Corporation has awarded $345,998 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAN JACINTO COLLEGE DISTRICT PURPOSE: ELLINGTON FIELD DEVELOPMENT | $295,998 |
HOUSTON AIRPORT CHAPELS INC PURPOSE: CONSTRUCTION OF CHAPEL AT WILLIAM P. HOBBY AIRPORT | $50,000 |