OKLAHOMA CITY ECONOMIC DEVELOPMENT… - 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

1981

Legal Domicile

Principal Officer

CHRISTY GILLENWATER

Phone

4052978900

Tax Period

2023-01-01 to 2023-12-31

OKLAHOMA CITY ECONOMIC DEVELOPMENT FOUNDATION INC, founded in 1981, is a community nonprofit in the Community Improvement sector that reported $4.7M in total revenue in fiscal year 2023. Revenue surged 78% from the prior year, signaling strong growth momentum. Expenses of $4.2M left a modest 10% surplus.

Mission

TO CREATE NEW JOBS AND PAYROLL IN THE OKLAHOMA CITY REGION.

Program Service Accomplishments

Program 1

Expenses: $2,404,417 Revenue: $2,610,230

THE FOUNDATION HAS ENTERED INTO THREE PROFESSIONAL SERVICES AGREEMENTS WITH THE CITY OF OKLAHOMA CITY. THE FIRST CONTRACT IS UTILIZED TO PROMOTE, FOSTER, AND DEVELOP A POSITIVE BUSINESS CLIMATE TO...

THE FOUNDATION HAS ENTERED INTO THREE PROFESSIONAL SERVICES AGREEMENTS WITH THE CITY OF OKLAHOMA CITY. THE FIRST CONTRACT IS UTILIZED TO PROMOTE, FOSTER, AND DEVELOP A POSITIVE BUSINESS CLIMATE TO ENHANCE AND EXPAND ECONOMIC DEVELOPMENT ACTIVITIES IN OKLAHOMA CITY. THE SECOND CONTRACT RELATES TO SERVICES RELATING TO THE ESTABLISHMENT OF THE OKLAHOMA CITY FILM & CREATIVE INDUSTRIES OFFICE. THIS OFFICE WILL CULTIVATE THE GROWTH OF THE FILM, MUSIC AND OTHER CREATIVE AND SUPPORT INDUSTRIES WITHIN OKLAHOMA CITY. THE THIRD CONTRACT IS AN AGREEMENT THAT PROVIDES ARPA RECOVERY FUNDS TO FUND TOURISM RECOVERY.

Program 2

Expenses: $1,147,670 Revenue: $327,500

THE FOUNDATION PARTNERS WITH THE OKLAHOMA CITY CHAMBER ON VARIOUS PROGRAMS WITH THE MOST SIGNIFICANT BEING THE FORWARD OKLAHOMA CITY PROGRAM. FORWARD OKLAHOMA CITY IS A FIVE YEAR ECONOMIC DEVELOPMENT PROGRAM DESIGNED TO MEET SPECIFIC NEEDS AND OVERCOME OBSTACLES TO QUALITY JOB GROWTH. EFFORTS PRIMARILY FOCUS ON (1) MARKETING THE CITY OF OKLAHOMA CITY AS A RELOCATION SITE TO EXPAND THE LOCAL JOB BASE, (2) ENHANCING THE LOCAL K-12 EDUCATION OPPORTUNITIES, (3) ADDRESSING TALENT RETENTION AND ATTRACTION, AND (4) OTHER MISCELLANEOUS PROGRAMS THAT SUPPORT ECONOMIC DEVELOPMENT EFFORTS.

Program 3

Expenses: $355,123

THE FOUNDATION HAS RECEIVED TWO GRANTS FROM THE DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION. GRANT 1 RELATES TO THE BUILD BACK BETTER REGIONAL CHALLENGE AND GRANT 2 RELATES TO THE...

THE FOUNDATION HAS RECEIVED TWO GRANTS FROM THE DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION. GRANT 1 RELATES TO THE BUILD BACK BETTER REGIONAL CHALLENGE AND GRANT 2 RELATES TO THE OKLAHOMA BIOTECH INNOVATION CLUSTER COLLABORATIVE.

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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 $1,684,533

Program Service Revenue $2,997,493

Investment Income $29,930

Other Revenue $0

TOTAL REVENUE $4,711,956

Expense Breakdown

Grants Paid $833,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,001,525

Other Expenses $3,402,830

TOTAL EXPENSES $4,236,330

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,711,956	$2,641,653	+0.8%
Expenses	$4,236,330	$3,041,815	+0.4%
Net Income	$475,626	$-400,162	-2.2%

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

N/A

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

$754,359

Total Directors

$448,537

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GILLENWATER CHRISTY	PRESIDENT & CEO	1.00	Officer Director	$0	$32,891	$448,537
TRAUSCHKE SEAN	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
ROSE TERESA	CHAIR-ELECT, V.C. - EDUCATION & MAPS 4 DEVELOPMENT	1.00	Officer Director	$0	$0	$0
HART JOHN	TREASURER	1.00	Officer Director	$0	$0	$0
RAINBOLT DAVID	CORPORATE SECRETARY	1.00	Officer Director	$0	$0	$0
BENNETT CLAYTON	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
HATFIELD JUDY	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
HOOPER RHONDA	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
KRIEGER BRADLEY	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
LANCE BILL	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
MCDANIEL TOM	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
MEYER JENNY LOVE	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
MUNCRIEF RICK	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
NICHOLS J LARRY	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
SHORTRIDGE W KENT	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
DENNY BARBARA L	CFO/VP OF OPERATIONS	1.00	Officer	$0	$24,073	$305,822

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
2024	No data	No data	No data	No data
2023	$4,711,956	$4,236,330	$3,182,450	$475,626
2022	$2,641,653	$3,041,815	$2,560,120	$-400,162
2021	$2,021,989	$2,130,467	$2,119,683	$-108,478
2020	$1,657,147	$1,609,423	$2,167,725	$47,724
2019	$1,776,723	$2,088,583	$2,085,010	$-311,860
2018	$1,741,725	$1,905,962	$2,389,349	$-164,237

OKLAHOMA CITY ECONOMIC DEVELOPMENT FOUNDATION INC