TEXAS ECONOMIC DEVELOPMENT COUNCIL INC (EIN 742053921) - Form 990 Financial Analysis & Trantor Score

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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

1961

Legal Domicile

Principal Officer

CARLTON SCHWAB

Phone

5124808432

Tax Period

2023-01-01 to 2023-12-31

TEXAS ECONOMIC DEVELOPMENT COUNCIL INC, founded in 1961, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $505K, a strong 19% operating margin.

Mission

TO PROMOTE BUSINESS COMMERCE, JOB GROWTH AND ECONOMIC DEVELOPMENT IN TEXAS

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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 $246,224

Program Service Revenue $2,200,867

Investment Income $22,557

Other Revenue $158,345

TOTAL REVENUE $2,627,993

Expense Breakdown

Grants Paid $0

Salaries & Benefits $606,948

Fundraising Expenses $0

Other Expenses $1,515,747

TOTAL EXPENSES $2,122,695

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,627,993	$2,054,832	+0.3%
Expenses	$2,122,695	$2,265,545	-0.1%
Net Income	$505,298	$-210,713	-3.4%

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

N/A

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

Total Directors

Key Employees

$255,016

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WESLEY BURNETT	PAST CHAIR	0.50	Officer Director	$0	$0	$0
ADRIAN CANNADY	VICE CHAIR	0.50	Officer Director	$0	$0	$0
RAY DUNLAP	BOARD CHAIR	0.50	Officer Director	$0	$0	$0
SUSAN GILL	INCOMING BOARD CHAIR	0.50	Officer Director	$0	$0	$0
KENT SHARP	VICE CHAIR	0.50	Officer Director	$0	$0	$0
CARLTON SCHWAB	PRESIDENT	40.00	Key Emp	$255,016	$0	$255,016

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	$2,627,993	$2,122,695	$1,924,721	$505,298
2022	$2,054,832	$2,265,545	$1,417,760	$-210,713
2021	$1,677,100	$1,617,654	$1,628,241	$59,446
2020	$1,734,269	$1,313,508	$1,568,989	$420,761
2019	$2,059,416	$1,850,517	$1,148,039	$208,899
2018	$1,760,611	$1,765,716	$939,092	$-5,105

TEXAS ECONOMIC DEVELOPMENT COUNCIL INC