Overview
What is Greater Gallup Economic Development Corporation?
Greater Gallup Economic Development Corporation (GGEDC) is a nonprofit organization based in Gallup, New Mexico. Its primary mission is to stimulate economic growth in the Gallup-Mckinley County area by utilizing local assets and fostering strategic partnerships for the purpose of attracting and recruiting businesses and industries that generate economic-base jobs. Over the past year, GGEDC has led various development initiatives, including coordinating efforts towards establishing a hydrogen economy and end-user businesses in New Mexico. They facilitated strategy sessions examining infrastructure availability in the Prewitt Industrial Park and Escalante Generating Station, and successfully secured grants to support the development of a Foreign Trade Zone/User Fee Airport and a Mobility Investment District. GGEDC also played a crucial role in returning air passenger service to the Gallup Municipal Airport, contributing to the area's FTZ/UFA and Mobility Investment District efforts. The organization continues to engage with stakeholders and works on business attraction and recruitment projects, such as the potential repurposing of the Marathon Gallup Refinery and the recruitment of major steel manufacturing company, Coles Gray, which could bring a significant investment and job creation.
Official website here: www.gallupedc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Greater Gallup Economic Development Corporation has received a commendable Four-Star rating from Charity Navigator, indicative of its strong performance in accountability and finance. The organization boasts a perfect score in several key areas, including having a fully independent board and an effective audit and oversight committee, showcasing its commitment to transparency and governance.
In the most recent fiscal year (FY2023), the organization reported a program expense ratio of 77.41%, reflecting a significant portion of its resources directed towards its mission. Additionally, the organization maintains robust policies like conflict of interest and whistleblower policies, which further enhance its accountability framework.
While the organization excels in financial oversight and independent governance, it is important for potential donors to consider how these ratings translate into the effectiveness of its programs and initiatives. Overall, the Greater Gallup Economic Development Corporation demonstrates strong fiscal responsibility and governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Gallup Economic Development Corporation legitimate?
Greater Gallup Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Gallup Economic Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $139,156
Professional Fundraising Fees: $0
Other Salaries and Wages: $154,954
For more financial information, click here
Official website here: www.gallupedc.com
What is the mission statement of Greater Gallup Economic Development Corporation?
The Greater Gallup Economic Development Corporation's mission is centered around driving economic growth. This is achieved by leveraging local assets and forming strategic partnerships to attract and recruit business and industrial employers offering job opportunities with an economic base. The corporation focuses on targeting specific industries that can contribute positively to the local economy. Recently, they have been actively involved in the development of a hydrogen economy and related businesses, hosting roundtables and strategy sessions to explore infrastructure possibilities. They have also successfully implemented and closed out grants to establish a Foreign Trade Zone and a Mobility Investment District, aiming to support carbonless, autonomous truck transportation and hydrogen fueling stations. Their efforts in business attraction and recruitment have involved attending trade shows and hosting site selector tours, resulting in potential investments and job creations.
Official website here: www.gallupedc.com
Who is the CEO of Greater Gallup Economic Development Corporation?
Tommy Haws is the President of Greater Gallup Economic Development Corporation.
Official website here: www.gallupedc.com
What is the revenue of Greater Gallup Economic Development Corporation?
Greater Gallup Economic Development Corporation's revenue in 2023 was $556,145.
Official website here: www.gallupedc.com
Who are the executives of Greater Gallup Economic Development Corporation and what are their salaries?
The average compensation at Greater Gallup Economic Development Corporation during 2023 was $29,411. There are 10 employees at Greater Gallup Economic Development Corporation.
Here are 8 key members and their salaries:
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- Compensation: $139,156
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Official website here: www.gallupedc.com
Where can I find the form 990 for Greater Gallup Economic Development Corporation?
Greater Gallup Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gallupedc.com
Learn more at the official website: www.gallupedc.com
Mission Statement of Greater Gallup Economic Development Corporation
Greater Gallup Economic Development Corporation (GGEDC) is dedicated to driving economic growth in the Gallup-McKinley County area. To achieve this, the organization focuses on leveraging local assets and collaborating with strategic partners to attract and recruit businesses and industrial employers that provide economic-based jobs. GGEDC's mission is to strategically position the region to capitalize on opportunities, ultimately leading to job creation and economic development.
In pursuit of this goal, GGEDC engages in various initiatives. For instance, the corporation has been instrumental in the development of a hydrogen economy and end-user businesses for the state of New Mexico. This involves coordinating and leading efforts related to the Prewitt Industrial Park, hosting economic roundtables, and facilitating strategy sessions to examine infrastructure availability. Additionally, GGEDC collaborates with public and private stakeholders, including economic development site selectors, to identify potential development sites and businesses that rely on imports and exports to generate sales and revenue. By engaging in these activities, GGEDC seeks to foster a conducive environment for businesses to thrive and create jobs in the area.
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Impact
July, 2024
The Greater Gallup Economic Development Corporation has a significant impact on driving economic growth in the Gallup-McKinley County area. Through initiatives such as coordinating the development of a hydrogen economy and end-user businesses, hosting economic roundtables, facilitating strategy sessions, and engaging with public and private stakeholders, GGEDC has played a crucial role in attracting and recruiting business and industrial employers to the region.
Furthermore, GGEDC's successful management and closure of multiple US EDA planning grants, intended for projects like establishing a foreign trade zone/user fee airport, a mobility investment district with autonomous vehicle test tracks and hydrogen fueling stations, and returning air passenger service to the Gallup Municipal Airport, exemplify their dedication to enhancing infrastructure and economic opportunities in the area.
Their efforts in business attraction and recruitment, conducting interviews with key economic base employers, retaining businesses like Coles Gray for potential major investments and job creation, earning certifications, securing new agreements, and supporting workforce development programs all contribute to the overall improvement and growth of the Gallup community.
This information is meant to be a general summary of Greater Gallup Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $11,079
- Gross Receipts: $556,145
Assets and Liabilities:
- Total Assets: $1,885,337
- Total Liabilities: $20,594
- Net Assets: $1,864,743
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Organization Details
Phone
(505) 722-2980Principal Officer
Tommy Haws
Main Address
PO BOX 1795, GALLUP, NM, 87305
Website
www.gallupedc.comNTEE Category
Code: S30 - Community improvement
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