TULSA ECONOMIC DEVELOPMENT CORPORA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

ROSE WASHINGTON

Phone

9185858332

Tax Period

2023-10-01 to 2024-09-30

TULSA ECONOMIC DEVELOPMENT CORPORATION, founded in 1979, is a mid-sized nonprofit in the Community Improvement sector that reported $14.3M in total revenue in fiscal year 2023. Revenue surged 185% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.2M, a strong 78% operating margin.

Mission

TBDC WAS FOUNDED IN 1979 AS TULSA ECONOMIC DEVELOPMENT CORPORATION, AN ORGANIZATION CHARGED WITH PROMOTING AND SUSTAINING SMALL BUSINESS GROWTH IN TULSA.

Program Service Accomplishments

Program 1

Expenses: $796,723

TEDC RECEIVES FUNDING FROM THE U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT'S CDBG PROGRAM AS A CITY OF TULSA SUB-RECIPIENT, WHICH INCLUDES REIMBURSEMENTS FOR PROJECT DELIVERY COSTS.

Program 2

Expenses: $510,570

TEDC RECEIVES FUNDING FROM THE U.S. DEPARTMENT OF THE TREASURY VIA THE CDFI EQUITABLE RECOVERY PROGRAM FOR PROVIDING GRANTS TO LOW- OR MODERATE-INCOME COMMUNITIES AND TO BORROWERS THAT HAVE...

TEDC RECEIVES FUNDING FROM THE U.S. DEPARTMENT OF THE TREASURY VIA THE CDFI EQUITABLE RECOVERY PROGRAM FOR PROVIDING GRANTS TO LOW- OR MODERATE-INCOME COMMUNITIES AND TO BORROWERS THAT HAVE SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND HAVE EXPERIENCED DISPROPORTIONATE ECONOMIC IMPACTS FROM THE COVID-19 PANDEMIC. THE FUNDING INCLUDES REIMBURSEMENTS FOR PROJECT DELIVERY COSTS.

Program 3

Expenses: $227,904

SAVING OUR HOMES INITIATIVE (SOHI) - SOHI IS A SHORT-TERM PROGRAM DEVELOPED IN COLLABORATION WITH THE CITY OF TULSA TO ASSIST IN CLEARING HOME TITLES OR PAYING PROPERTY TAX (UP TO $4,000) FOR...

SAVING OUR HOMES INITIATIVE (SOHI) - SOHI IS A SHORT-TERM PROGRAM DEVELOPED IN COLLABORATION WITH THE CITY OF TULSA TO ASSIST IN CLEARING HOME TITLES OR PAYING PROPERTY TAX (UP TO $4,000) FOR ELIGIBLE LOW INCOME HOUSEHOLDS ACROSS THE CITY OF TULSA. TEDC CONNECTS HOUSEHOLDS WITH TFEC WHO OFFERS FREE FINANCIAL CONSELING SESSIONS TO IMPROVE FINANCIAL OUTCOMES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,663,429

Program Service Revenue $553,715

Investment Income $958,631

Other Revenue $106,334

TOTAL REVENUE $14,282,109

Expense Breakdown

Grants Paid $169,780

Salaries & Benefits $1,182,054

Fundraising Expenses $0

Program Expenses $2,630,295

Other Expenses $1,756,027

TOTAL EXPENSES $3,107,861

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,282,109	$5,003,005	+1.9%
Expenses	$3,107,861	$5,036,348	-0.4%
Net Income	$11,174,248	$-33,343	-336.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$168,062

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHELLA BOWLIN	DIRECTOR	0.50	Director	$0	$0	$0
GILBERT GERST	DIRECTOR	0.50	Director	$0	$0	$0
CASSIA CARR	DIRECTOR	0.50	Director	$0	$0	$0
MARILYN MORRIS	DIRECTOR	0.50	Director	$0	$0	$0
KENNETH QUIGLEY	DIRECTOR	0.50	Director	$0	$0	$0
GIL EACRET	DIRECTOR	0.50	Director	$0	$0	$0
JAVIER GAMARRA	DIRECTOR	0.50	Director	$0	$0	$0
JOYCE MCCLELLAN	DIRECTOR	0.50	Director	$0	$0	$0
DAVID EASTON	DIRECTOR	0.50	Director	$0	$0	$0
MATT KING	PRESIDENT	0.50	Officer Director	$0	$0	$0
JAMES SANCHEZ	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
SHANANN PASSLEY	SECRETARY	0.50	Officer Director	$0	$0	$0
CINDY BAKER	TREASURER	0.50	Officer Director	$0	$0	$0
ROSE WASHINGTON	EXECUTIVE DIRECTOR	50.00	Officer	$153,875	$14,187	$168,062

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$14,282,109	$3,107,861	$41,534,822	$11,174,248
2023	$5,003,005	$5,036,348	$30,345,955	$-33,343
2022	$6,170,732	$3,423,765	$38,001,915	$2,746,967
2021	$32,973,039	$55,444,671	$33,851,725	$-22,471,632
2020	$37,182,038	$7,107,438	$64,780,716	$30,074,600
2019	$1,840,403	$1,400,370	$15,422,908	$440,033
2018	$1,979,475	$1,426,304	$15,088,431	$553,171

TULSA ECONOMIC DEVELOPMENT CORPORATION