CORPUS CHRISTI REGIONAL ECONOMIC DEVELOPMENT CORPORATION (EIN 742424224) - 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

1986

Legal Domicile

Principal Officer

MIKE CULBERTSON

Phone

3618827448

Tax Period

2023-08-01 to 2024-07-31

CORPUS CHRISTI REGIONAL ECONOMIC DEVELOPMENT CORPORATION, founded in 1986, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2023. Expenses of $1.7M left a modest 7% surplus.

Mission

PROMOTION OF BUSINESS AND ECONOMIC DEVELOPMENT IN THE CORPUS CHRISTI AREA.

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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 $1,807,123

Program Service Revenue $0

Investment Income $1,071

Other Revenue $0

TOTAL REVENUE $1,808,194

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,060,347

Fundraising Expenses $0

Other Expenses $625,245

TOTAL EXPENSES $1,685,592

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,808,194	$1,859,108	0.0%
Expenses	$1,685,592	$1,505,910	+0.1%
Net Income	$122,602	$353,198	-0.7%

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

$287,700

Total Directors

$287,700

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT GONZALEZ	CHAIR	1.00	Officer Director	$0	$0	$0
DR BRYAN GULLEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ANNA ALDRIDGE	TREASURER	1.00	Officer Director	$0	$0	$0
ERIC EVANS	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK MEYER	CHAIR BDAC	1.00	Officer Director	$0	$0	$0
JUDITH TALAVERA	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
BART BRASELTON	DIRECTOR	1.00	Director	$0	$0	$0
MATHEW GUZMAN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC EVANS	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS BLACK	DIRECTOR	1.00	Director	$0	$0	$0
KYLE SHARON	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM GOLDSTON	DIRECTOR	1.00	Director	$0	$0	$0
DR REDDY	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT ROCHA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
PAULETTE GUAJARDO	DIRECTOR	1.00	Director	$0	$0	$0
CATHY SKUROW	DIRECTOR	1.00	Director	$0	$0	$0
GABE GUERRA	DIRECTOR	1.00	Director	$0	$0	$0
CONNIE SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
TOM YARDLEY	DIRECTOR	1.00	Director	$0	$0	$0
KELLY MILLER	DIRECTOR	1.00	Director	$0	$0	$0
LENORA KEAS	DIRECTOR	1.00	Director	$0	$0	$0
PETER ZANONI	DIRECTOR	1.00	Director	$0	$0	$0
KENT BRITTON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN GREEN	DIRECTOR	1.00	Director	$0	$0	$0
AL ARREOLA	DIRECTOR	1.00	Director	$0	$0	$0
KEN TREVINO	DIRECTOR	1.00	Director	$0	$0	$0
MIKE CULBERTSON	PRESIDENT/CEO	40.00	Officer Director	$287,700	$0	$287,700
DR ROLAND HERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
BRETT OETTING	DIRECTOR	1.00	Director	$0	$0	$0

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	$1,808,194	$1,685,592	$1,233,794	$122,602
2023	$1,859,108	$1,505,910	$1,027,137	$353,198
2022	$1,988,546	$2,035,579	$954,364	$-47,033
2021	$1,809,699	$1,813,771	$926,709	$-4,072
2020	$1,911,645	$1,802,267	$980,912	$109,378
2018	$1,747,949	$1,741,205	$675,961	$6,744

CORPUS CHRISTI REGIONAL ECONOMIC DEVELOPMENT CORPORATION