Overview
What is Tyler Economic Development Council Inc?
Tyler Economic Development Council Inc, based in Tyler, Texas, is a dedicated nonprofit organization committed to boosting economic growth in the local area. With a team of eight dedicated individuals, their primary mission is to draw new industries to Tyler and foster expansion within existing businesses. They accomplish this by engaging with potential new businesses and hosting visits to the Tyler area by representatives from these businesses. The estimated value of their donated services during the fiscal year is $2,500. Their activities significantly contribute to the overall economic development of the greater Tyler area.
Official website here: www.tedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Tyler Economic Development Council Inc has achieved an impressive score of 92%, which denotes a high level of accountability and financial health. The organization's rating is based entirely on its exceptional performance in the Accountability & Finance beacon, showcasing strong governance and transparency in its operations.
The Council boasts an independent board comprised of 97% independent members and demonstrates prudent financial management, with a low liabilities to assets ratio of 19.68%. Additionally, they allocate a significant portion of their expenditures, 85.07%, towards programs, indicating a focus on delivering impactful services rather than administrative costs.
While the organization excels in financial practices and governance, the summary does not provide specific details regarding the outcomes of their programs or community impact. Nonetheless, the Council's robust policies, including conflict of interest and whistleblower protections, reflect a commitment to ethical standards and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Tyler Economic Development Council Inc legitimate?
Tyler Economic Development Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tyler Economic Development Council Inc 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: $292,930
Professional Fundraising Fees: $0
Other Salaries and Wages: $377,871
For more financial information, click here
Official website here: www.tedc.org
What is the mission statement of Tyler Economic Development Council Inc?
The Tyler Economic Development Council Inc is committed to fostering economic growth in its respective area. Its primary mission is to attract new businesses and encourage expansion within existing ones, thereby contributing to the local economy. This goal has been achieved through numerous interactions with potential new companies and visits from their representatives. The organization's efforts in this regard are estimated to have resulted in donated services valued at $2,500 during the fiscal year.
Official website here: www.tedc.org
What is the revenue of Tyler Economic Development Council Inc?
Tyler Economic Development Council Inc's revenue in 2024 was $1,766,903.
Official website here: www.tedc.org
Who are the executives of Tyler Economic Development Council Inc and what are their salaries?
The average compensation at Tyler Economic Development Council Inc during 2024 was $111,800. There are 6 employees and 66 volunteers at Tyler Economic Development Council Inc.
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Official website here: www.tedc.org
Where can I find the form 990 for Tyler Economic Development Council Inc?
Tyler Economic Development Council Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.tedc.org
Learn more at the official website: www.tedc.org
Mission Statement of Tyler Economic Development Council Inc
The Tyler Economic Development Council Inc, as its name suggests, is committed to fostering economic growth in the broader Tyler area. Its mission is to attract new businesses to the region and encourage the expansion of existing enterprises. This objective has been achieved through proactive outreach and visits from potential business representatives to the Tyler area. The organization's exempt purpose, as stated, is to contribute to the economic development of the region, with an estimated value of donated services reaching $2,500 during the fiscal year.
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Impact
July, 2024
Tyler Economic Development Council Inc's impact is crucial in attracting new industries to Tyler, Texas, and the surrounding area while also fostering growth within existing businesses. Through their efforts, they have facilitated numerous contacts with potential new businesses and coordinated visits by representatives of these businesses to the Tyler area. The estimated value of their donated services during the fiscal year was $2,500, demonstrating their commitment to the economic development of the greater Tyler area. Their dedication to this mission is evident in their work and their focus on community improvement.
This information is meant to be a general summary of Tyler Economic Development Council Inc. 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 2024.
- Investment Income: $139,508
- Gross Receipts: $2,075,133
Assets and Liabilities:
- Total Assets: $9,493,683
- Total Liabilities: $64,184
- Net Assets: $9,429,499
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Organization Details
Founding Year
1989
Principal Officer
Scott Martinez
Website
www.tedc.orgNTEE Category
Code: S300 - Community improvement
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