Tulare County Economic Development Corporation
- Assets
- $404.5k
- Revenue
- $419.5k
- Investments
- $192.6k
- Employees
- 0
- Location
- Visalia, CA
- Founding
- 01/1984
- Data as of
- 06/2024
- EIN
- 94-2897447
Organization Overview
Tulare County Economic Development Corporation is located in Visalia, CA. The organization was established in 1984. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Tulare County Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2024, Tulare County Economic Development Corporation generated $419.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $431.2k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
ATTRACTING, SUPPORTING AND RETAINING BUSINESS AND INDUSTRY FOR THE COMMUNITIES OF TULARE COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTRACTING VARIOUS COMPANIES TO RELOCATE TO THE TULARE COUNTY AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Poochigian Chair | OfficerTrustee | 1 | $0 |
Amy Shuklian Vice Chair | OfficerTrustee | 1 | $0 |
Jey Lacey Treasurer | OfficerTrustee | 1 | $0 |
Donnette Silva Carter Secretary | OfficerTrustee | 1 | $0 |
Brent Calvin Director | Trustee | 0 | $0 |
Clayton Ipsen Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,200 |
| Fundraising events | $69,320 |
| Related organizations | $0 |
| Government grants | $240,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $408,370 |
| Total Program Service Revenue | $6,000 |
| Investment income | $4,625 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,575 |
| Net Income from Fundraising Events | -$16,438 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $419,517 |
| 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 | $177,664 |
| Pension plan accruals and contributions | $4,877 |
| Other employee benefits | $17,661 |
| Payroll taxes | $14,719 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,991 |
| Fees for services: Accounting | $19,843 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $770 |
| Fees for services: Other | $45,110 |
| Advertising and promotion | $0 |
| Office expenses | $4,770 |
| Information technology | $20,459 |
| Royalties | $0 |
| Occupancy | $1,392 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,334 |
| Interest | $8,034 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,685 |
| Insurance | $4,965 |
| All other expenses | $2,059 |
| Total functional expenses | $431,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,133 |
| Savings and temporary cash investments | $19,645 |
| Pledges and grants receivable | $49,000 |
| Accounts receivable, net | $19,450 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,196 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,000 |
| Net Land, buildings, and equipment | $3,381 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $192,648 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $404,453 |
| Accounts payable and accrued expenses | $2,270 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,782 |
| Total liabilities | $164,052 |
| Net assets without donor restrictions | $240,401 |
| 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 | $404,453 |