Overview
What is Solano Economic Devco Corp?
Solano Economic Devco Corp, operating under the name Solano EDC, is a dedicated organization based in Fairfield, California. Their mission is to boost Solano County's economic growth by creating a competitive business environment, attracting new investments, and connecting existing businesses with necessary resources. They collaborate with various entities, such as local cities, workforce development, utilities, and educational institutions, to provide comprehensive assistance to businesses, aiding in expansions, overcoming economic challenges, and accessing incentives. Their network, Solano Business First!, is designed to connect companies with the appropriate resources and information, thereby enhancing their competitiveness in the broader marketplace, with a total workforce of 10 individuals.
Official website here: www.solanoedc.org
Is Solano Economic Devco Corp legitimate?
Solano Economic Devco Corp is a legitimate nonprofit organization registered as a 501(c)(6) entity. Solano Economic Devco Corp 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: $201,505
Professional Fundraising Fees: $0
Other Salaries and Wages: $439,749
For more financial information, click here
Official website here: www.solanoedc.org
What is the mission statement of Solano Economic Devco Corp?
Solano Economic Devco Corp's mission is centered around boosting the economic growth of its operating region. Specifically, they aim to preserve and strengthen a business-friendly environment, assist local industries in expanding, attract new employment opportunities and investments, and connect businesses with necessary resources. To achieve these goals, the corporation collaborates with various entities such as city administrations, the county, workforce development programs, utilities, and educational institutions, leveraging their collective resources for the benefit of the businesses they serve.
Official website here: www.solanoedc.org
Who is the CEO of Solano Economic Devco Corp?
Christopher E Rico is the President / Ceo of Solano Economic Devco Corp. The CEO's salary of Solano Economic Devco Corp is $184,994 and their total compensation is $184,994.
Official website here: www.solanoedc.org
What is the revenue of Solano Economic Devco Corp?
Solano Economic Devco Corp's revenue in 2023 was $1,343,844.
Official website here: www.solanoedc.org
Who are the executives of Solano Economic Devco Corp and what are their salaries?
The average compensation at Solano Economic Devco Corp during 2023 was $64,125. There are 10 employees and 56 volunteers at Solano Economic Devco Corp.
Here are 57 key members and their salaries (Solano Economic Devco Corp's CEO's salary is $184,994 and their total compensation is $184,994):
- Compensation: $184,994
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Official website here: www.solanoedc.org
Where can I find the form 990 for Solano Economic Devco Corp?
Solano Economic Devco Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.solanoedc.org
Learn more at the official website: www.solanoedc.org
Mission Statement of Solano Economic Devco Corp
Solano Economic Devco Corp, as a nonprofit organization, is committed to positively impacting the economic growth of its surrounding county. Their mission is multifaceted, aiming to maintain and enhance Solano County as a competitive location for businesses to expand and establish themselves. By providing direct services to scale local traded sector industries, they contribute to the expansion and attraction of new job opportunities and investments. Furthermore, Solano Economic Devco Corp connects businesses with necessary resources to help them meet their needs. To achieve these objectives, they collaborate with various key players in the region, including cities, county officials, workforce development programs, utilities, and educational institutions. By working together, they deliver all the resources required to support the growth and success of local businesses.
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Impact
October, 2024
Solano Economic Devco Corp plays a crucial role in fostering economic growth within Solano County. By enhancing the region's competitiveness as a business location, it provides vital support that attracts new jobs and investments. The organization focuses on scaling local traded sector industries, ensuring that businesses have the resources they need to expand and thrive.
One of the key initiatives, Solano Business First!, exemplifies their commitment to existing companies by offering tailored assistance to connect them with specific resources, information, and services. This initiative helps businesses navigate economic challenges, access local, state, and federal incentives, and improve their competitiveness in the marketplace.
Collaboration is at the heart of Solano Economic Devco Corp's efforts. By partnering with local cities, the county, workforce development agencies, utilities, and educational institutions, the organization effectively delivers a comprehensive suite of resources aimed at addressing the dynamic needs of the business community. This multifaceted approach not only supports individual business growth but also contributes to the overall economic vitality of Solano County, driving community improvement and sustainable development.
This information is meant to be a general summary of Solano Economic Devco Corp. 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: $6
- Program Service Revenue: $1,334,397
- Gross Receipts: $1,352,511
Assets and Liabilities:
- Total Assets: $150,411
- Total Liabilities: $13,159
- Net Assets: $137,252
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues
Revenue
$537,371
County of Solano - BayREN Contract
Revenue
$274,568
City of Fairfield - TCC Contract
Revenue
$70,450
Solano Transportation Authority Contract
Revenue
$55,830
EDA Grant (Federal and Local)
Revenue
$396,178
Organization Details
Founding Year
1997
Phone
(707) 864-1855Principal Officer
Christopher E Rico
Main Address
5050 Business Center Dr, Fairfield, CA, 94534
Website
www.solanoedc.orgNTEE Category
Code: S30 - Community improvement
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