Gulf Coast Economic Development District Inc
- Assets
- $3.5m
- Revenue
- $590.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/1995
- Data as of
- 06/2022
- 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 06/2022, Gulf Coast Economic Development District Inc generated $590.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $463.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 7 years. 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
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
COMPLETED REGIONAL ECONOMIC ANALYSIS IN DISASTER RECOVERY ANALYSIS.
CONDUCTED A SERIES OF WORKSHOPS ON ECONOMIC DEVELOPMENT IMPACTS AND LAND USED.
PROVIDED A REGIONAL CLEARINGHOUSE OF ECONOMIC DEVELOPMENT INFORMATION RESOURCES.
HELPED SMALL BUSINESS IN REGION THAT SUFFERED FROM CORONAVIRUS PANDEMIC AND OTHER ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dane Carlson Member | Officer | 0.5 | $0 |
Andrew Van Chau Member | Officer | 0.5 | $0 |
Chad Burke Member | Officer | 0.5 | $0 |
Carlos Guzman Member | Officer | 0.5 | $0 |
Jimmy Henry Member | Officer | 0.5 | $0 |
John Isom Member | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $546,905 |
| 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 | $546,905 |
| Total Program Service Revenue | $0 |
| Investment income | $43,993 |
| 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 | $590,898 |
| 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 | $285,260 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $120,734 |
| Fees for services: Legal | $4,460 |
| 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 | $19 |
| Information technology | $24,541 |
| Royalties | $0 |
| Occupancy | $19,769 |
| Travel | $260 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,716 |
| Total functional expenses | $463,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $600,055 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $109 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,939,211 |
| 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 | $3,539,375 |
| Accounts payable and accrued expenses | $292,528 |
| 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 | $292,528 |
| 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 | $3,246,847 |
| Total liabilities and net assets/fund balances | $3,539,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
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 |