Gilroy Economic Development Corporation
- Assets
- $30.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Gilroy, CA
- Founding
- 11/1996
- Data as of
- 06/2024
- EIN
- 77-0429693
Organization Overview
Gilroy Economic Development Corporation is located in Gilroy, CA. The organization was established in 1996. 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. As of 06/2024, Gilroy Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gilroy Economic 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 06/2024, Gilroy Economic Development Corporation generated $715.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (48.1%) each year. All expenses for the organization totaled $90.4k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT IN THE CITY OF GILROY, AND ASSIST LOCAL BUSINESSES AND GOVERNMENT AGENCIES IN THE AREA OF ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3
MARKETING AND RECRUITMENT EFFORTS FOCUSED ON ATTRACTING BUSINESS THAT WOULD INCREASE SALES AND PROPERTY TAX REVENUES TO OFFSET THE LOSS OF FEDERAL AND STATE REVENUES.
CONDUCTING LOCAL BUSINESS RETENTION INTERVIEWS TO DETERMINE WHAT SERVICES OR RESOURCES ARE NEEDED BY OUR EXISTING BUSINESSES TO IMPROVE THEIR PROFITABILITY AND HELP EXPAND THEIR BUSINESS AND CREATE NEW JOBS.
FOCUS ON RECRUITING AND RETENTION OF BUSINESSES IN THE DOWNTOWN AREA OF GILROY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Michielssen Board Chair | 2 | $0 | |
Scott Winant Vice Chair | 2 | $0 | |
Chris Vanni Secretary | 2 | $0 | |
Tom Cline Board Member | 1 | $0 | |
Manny Bhandal Board Member | 1 | $0 | |
Peter Katavich Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $715 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $715 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $60,000 |
| Professional fees and other payments to independent contractors | $1,341 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $29,044 |
| Total expenses | $90,385 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $30,068 |
| Other assets | $0 |
| Total assets | $30,293 |
| Total liabilities | $0 |
| Net assets or fund balances | $30,293 |