Overview
What is Texas Economic Development Corporation?
The Texas Economic Development Corporation, abbreviated as TXEDC, is a 501(c)(3) nonprofit organization based in Austin, Texas. With a mission to promote Texas as a competitive and attractive business destination, TXEDC works tirelessly to facilitate the establishment, expansion, and retention of domestic and international investments in the state. They achieve this through private contributions from businesses, organizations, and individuals who share an interest in boosting economic development and job creation in Texas. TXEDC's operations are independent and dedicated to marketing and showcasing the state as a premier location for businesses, contributing to its overall economic growth.
Official website here: www.businessintexas.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Texas Economic Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. This rating is a result of its perfect score in all evaluated areas, indicating a high level of transparency and effective financial management practices. The organization benefits from a fully independent board and has established comprehensive policies regarding conflict of interest and whistleblower protections, which further enhances its trustworthiness.
Financially, the organization demonstrates a solid operational structure with a low liability to assets ratio of 16.64% and a program expense ratio of 67.70%, indicating that a significant portion of its resources is directed toward its programs rather than administrative costs. Additionally, its fundraising efficiency is noteworthy, with only $0.11 spent to raise each dollar, which signifies effective fundraising strategies.
While the Texas Economic Development Corporation exhibits many strengths, the program expense ratio could be improved to enhance its impact further. Overall, the organization showcases a robust framework for governance and financial health, making it a commendable choice for donors looking to support economic development initiatives in Texas.
This AI summary has been generated from information found on Charity Navigator.
Is Texas Economic Development Corporation legitimate?
Texas Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Texas 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: $1,443,849
Professional Fundraising Fees: $0
Other Salaries and Wages: $377,244
For more financial information, click here
Official website here: www.businessintexas.com
What is the mission statement of Texas Economic Development Corporation?
The Texas Economic Development Corporation, often referred to as TXEDC, serves a crucial role in promoting Texas as an attractive business destination. Funded by private contributions from businesses, organizations, and individuals, its primary objective is to facilitate the location, expansion, and retention of domestic and international business investments in the state. This nonprofit organization operates independently, dedicated to marketing and promoting Texas as a premier business location. In its efforts, TXEDC employs dynamic and competitive strategies to promote economic development and job creation in Texas.
Official website here: www.businessintexas.com
Who is the CEO of Texas Economic Development Corporation?
Christin Evans is the Vice President of Texas Economic Development Corporation. The CEO's salary of Texas Economic Development Corporation is $567,759 and their total compensation is $579,959.
Official website here: www.businessintexas.com
What is the revenue of Texas Economic Development Corporation?
Texas Economic Development Corporation's revenue in 2022 was $3,628,909.
Official website here: www.businessintexas.com
Who are the executives of Texas Economic Development Corporation and what are their salaries?
The average compensation at Texas Economic Development Corporation during 2022 was $260,156. There are 7 employees at Texas Economic Development Corporation.
Here are 16 key members and their salaries (Texas Economic Development Corporation's CEO's salary is $567,759 and their total compensation is $579,959):
- Compensation: $567,759
- Related: $0
- Other: $12,200
- Compensation: $267,130
- Related: $0
- Other: $9,351
- Compensation: $173,250
- Related: $0
- Other: $5,198
- Compensation: $171,000
- Related: $0
- Other: $6,273
- Compensation: $136,500
- Related: $0
- Other: $5,460
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.businessintexas.com
Where can I find the form 990 for Texas Economic Development Corporation?
Texas Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.businessintexas.com
Learn more at the official website: www.businessintexas.com
Mission Statement of Texas Economic Development Corporation
The Texas Economic Development Corporation, often abbreviated as TXEDC, serves as a nonprofit organization with a mission to promote and market Texas as an exceptional business location. This mission is accomplished by facilitating the establishment, expansion, and retention of both domestic and international investments within the state. TXEDC is uniquely funded through private contributions from businesses, organizations, and individuals who share an interest in the advancement of business, economic development, and job creation in Texas. In essence, the organization operates independently and dynamically, showcasing Texas as a competitive and attractive location for businesses seeking growth opportunities.
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Impact
July, 2024
The Texas Economic Development Corporation plays a vital role in promoting Texas as a premier business state and attracting domestic and international business investment. Through its efforts, the organization contributes to economic development and job creation in the state of Texas. By marketing Texas in a dynamic and competitive manner, the Texas Economic Development Corporation helps to showcase the state's many opportunities for business growth and expansion. Its impact can be seen in the continued development of Texas's economy and the creation of new job opportunities for residents.
This information is meant to be a general summary of Texas 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 2022.
- Investment Income: $39,489
- Program Service Revenue: $65,841
- Gross Receipts: $3,628,909
Assets and Liabilities:
- Total Assets: $7,644,414
- Total Liabilities: $1,272,578
- Net Assets: $6,371,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPATION FEES
Revenue
$65,841
Organization Details
Founding Year
1991
Phone
(512) 981-6736Principal Officer
Christin Evans
Main Address
PO BOX 684702, AUSTIN, TX, 78768
Website
www.businessintexas.comNTEE Category
Code: S30 - Community improvement
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