Gulf Coast Economic Development District Inc
- Assets
- $4.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/1995
- Data as of
- 06/2023
- EIN
- 76-0421307
Organization Overview
Gulf Coast Economic Development District Inc is located in Houston, TX. The organization was established in 1995. 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. Gulf Coast Economic Development District Inc 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 06/2023, Gulf Coast Economic Development District Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 61.1% each year . All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 47.5% per year over the past 4 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 2023, Gulf Coast Economic Development District Inc has awarded 12 individual grants totaling $410,000. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE GOAL OF THE GCEDD IS TO SERVE AS A REGIONAL CLEARINGHOUSE FOR ECONOMIC DEVELOPMENT INFORMATION AND PROVIDE TECHNICAL ASSISTANCE FOR THE PURPOSE OF STIMULATING THE ECONOMY WITHIN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FORTBEND REVOLVING LOAN TO HELP THE BUSINESS AFFECTED BY COVID
HELPED SMALL BUSINESS IN REGION THAT SUFFERED FROM CORONAVIRUS PANDEMIC AND OTHER ACTIVITIES
CONDUCTED A SERIES OF WORKSHOPS ON ECONOMIC DEVELOPMENT IMPACTS AND LAND USED.
PROVIDED A REGIONAL CLEARINGHOUSE OF ECONOMIC DEVELOPMENT INFORMATION RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Burke Member | Officer | 0.5 | $0 |
Dane Carlson Member | Officer | 0.5 | $0 |
Andrew Van Chau Member | Officer | 5 | $0 |
Carlos Guzman Member | Officer | 0.5 | $0 |
John Isom Member | Officer | 0.5 | $0 |
Guy Robert Jackson Member | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,715,571 |
| 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 | $1,715,571 |
| Total Program Service Revenue | $56,402 |
| Investment income | $12,088 |
| 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 | $1,784,061 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $410,000 |
| 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 | $382,552 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $119,883 |
| Fees for services: Legal | $14,673 |
| 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 | $0 |
| Office expenses | $597 |
| Information technology | $30,828 |
| Royalties | $0 |
| Occupancy | $19,875 |
| Travel | $4,596 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,630 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $97,956 |
| All other expenses | $0 |
| Total functional expenses | $1,082,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,098,833 |
| 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 | $3,047,876 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,146,709 |
| Accounts payable and accrued expenses | $198,391 |
| 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 | $198,391 |
| Net assets without donor restrictions | $0 |
| 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 | $3,948,318 |
| Total liabilities and net assets/fund balances | $4,146,709 |
Grants Awarded
Over the last fiscal year, Gulf Coast Economic Development District Inc has awarded $410,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BEARBERRY PARTNERS LLC PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $50,000 |
MEDINA CHIROPRACTIC SPORTS AND SPINE LLC PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $50,000 |
R & A TAX SERVICES LLC PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $40,000 |
HOUSTON VITAL SIGNS INC PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $20,000 |
ADVANCED MUSCLE CARE & RECOVER PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $20,000 |
SALUTE BAY DBA MR CONSTRUCTION PURPOSE: It's a grant from FortBend county that were issued to local businesses through GCEDD to cover expenses such as costs of working capital, payroll, accounts payable, rent, mortgages, etc. Recipient is required to submit appropriate documentation of such eligible expenditures and proof of payments, as requested. | $40,000 |