Greater Phoenix Economic Council
- Assets
- $6.9m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 48
- Location
- Phoenix, AZ
- Founding
- 12/1991
- Data as of
- 06/2022
- EIN
- 86-0539979
Organization Overview
Greater Phoenix Economic Council is located in Phoenix, AZ. The organization was established in 1991. 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 06/2022, Greater Phoenix Economic Council employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Phoenix Economic Council 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, Greater Phoenix Economic Council generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $7.4m during the year ending 06/2022. While expenses have increased by 6.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FY22, GPEC WORKED WITH ITS STAKEHOLDERS AND MEMBER COMMUNITIES TO ATTRACT 55 COMPANIES TO THE MARKET, ADDING $635.3 M IN INCREMENTAL PAYROLL, COMPRISING 10,859 PROJECTED NEW JOBS, OF WHICH 4,748 WERE AT AN AVERAGE HIGH-WAGE SALARY OF $75,847. GPEC HAD 272 PROSPECTS, 58 OF WHICH WERE INTERNATIONAL COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Camacho President/ceo | Officer | 40 | $505,500 |
Brad Smidt SVP Business Development | 40 | $167,222 | |
Colleen Schwab Svp, Marketing & Communications | 40 | $165,550 | |
Kathleen Lee Svp, Regional Initiatives | 40 | $152,345 | |
Stephane Frijia SVP Strategy And Research | 40 | $137,463 | |
Kristen Stephenson SVP Research & Analytics | 40 | $128,865 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $570,033 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,781,750 |
| Noncash contributions included in lines 1a–1f | $98,225 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,351,783 |
| Total Program Service Revenue | $3,193,081 |
| Investment income | $628 |
| 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 | $7,545,492 |
| 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. | $414,250 |
| Compensation of current officers, directors, key employees. | $82,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,278,932 |
| Pension plan accruals and contributions | $160,286 |
| Other employee benefits | $299,098 |
| Payroll taxes | $250,883 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,256 |
| Fees for services: Accounting | $17,015 |
| Fees for services: Lobbying | $33,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $669,099 |
| Advertising and promotion | $139,778 |
| Office expenses | $90,663 |
| Information technology | $201,533 |
| Royalties | $0 |
| Occupancy | $282,024 |
| Travel | $34,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $791,867 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $188,479 |
| Insurance | $21,457 |
| All other expenses | $0 |
| Total functional expenses | $7,354,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,487,259 |
| Savings and temporary cash investments | $881,518 |
| Pledges and grants receivable | $117,372 |
| Accounts receivable, net | $534,500 |
| 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 | $374,961 |
| Net Land, buildings, and equipment | $531,374 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000,000 |
| Total assets | $6,926,984 |
| Accounts payable and accrued expenses | $955,536 |
| 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 | $1,455,045 |
| Total liabilities | $2,410,581 |
| Net assets without donor restrictions | $4,399,031 |
| Net assets with donor restrictions | $117,372 |
| 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 | $6,926,984 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Greater Phoenix Economic Council has recieved totaling $188,523.
| Awarding Organization | Amount |
|---|---|
Flinn Foundation Phoenix, AZ PURPOSE: ADVANCING THE BIOSCIENCES | $37,500 |
Pivotal Foundation Phoenix, AZ PURPOSE: FOR THE EXEMPT PURPOSE OF THE ORGANIZATION | $25,000 |
Arizona Community Foundation Phoenix, AZ PURPOSE: PROGRAM SUPPORT | $25,000 |
Honorhealth Scottsdale, AZ PURPOSE: PROGRAM SUPPORT | $25,000 |
Banner Health Phoenix, AZ PURPOSE: GENERAL SUPPORT | $25,000 |
Thunderbirds Charities Phoenix, AZ PURPOSE: COMMUNITY OUTREACH/QUALITY OF LIFE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Visit Salt Lake Salt Lake City, UT | $7,092,794 | $14,927,768 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |