TEXAS 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

1991

Legal Domicile

Principal Officer

AARON DEMERSON

Phone

5129816736

Tax Period

2024-01-01 to 2024-12-31

TEXAS ECONOMIC DEVELOPMENT CORPORATION, founded in 1991, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2024. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $4.6M exceeded revenue, resulting in a 21% operating deficit.

Mission

THE TEXAS ECONOMIC DEVELOPMENT CORPORATION IS AN INDEPENDENTLY FUNDED AND OPERATED 501(C)(3) NONPROFIT ORGANIZATION RESPONSIBLE FOR MARKETING AND PROMOTING TEXAS AS A PREMIER BUSINESS LOCATION.

Program Service Accomplishments

Program 1

Expenses: $3,433,037 Revenue: $37,000

THE ORGANIZATION MARKETS TEXAS IN A DYNAMIC AND COMPETITIVE MANNER THROUGH PROMOTION OF ECONOMIC DEVELOPMENT AND JOB CREATION 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 (2024)

Revenue Breakdown

Contributions & Grants $3,482,500

Program Service Revenue $37,000

Investment Income $249,550

Other Revenue $2,135

TOTAL REVENUE $3,771,185

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,177,633

Fundraising Expenses $468,473

Program Expenses $3,433,037

Other Expenses $2,386,226

TOTAL EXPENSES $4,563,859

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,771,185	$5,923,992	-0.4%
Expenses	$4,563,859	$3,085,195	+0.5%
Net Income	$-792,674	$2,838,797	-1.3%

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

$776,590

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADRIAN CANNADY	BOARD TREASURER	0.00	Director	$0	$0	$0
ADRIANA CRUZ	EX-OFFICIO BOARD MEMBER	0.00	Director	$0	$0	$0
ARUN AGARWAL	BOARD CHAIR	0.00	Director	$0	$0	$0
EDUARDO MARGAIN	BOARD MEMBER	0.00	Director	$0	$0	$0
GEORGE HENDERSON III	BOARD MEMBER	0.00	Director	$0	$0	$0
KATIE FARMER	BOARD MEMBER	0.00	Director	$0	$0	$0
L FREDRICK FRANCIS	BOARD MEMBER	0.00	Director	$0	$0	$0
PETER J HOLT	BOARD MEMBER	0.00	Director	$0	$0	$0
S DAVID DEANDA	BOARD VICE CHAIR	0.00	Director	$0	$0	$0
ELIZABETH KILLINGER	BOARD SECRETARY	0.00	Director	$0	$0	$0
AARON DEMERSON	PRESIDENT & CEO	40.00	Officer	$520,521	$18,279	$538,800
VALERIE SEGOVIA	VICE PRESIDENT OF INVESTOR RELATIONS	40.00	Officer	$92,273	$2,550	$94,823
DALE ROBERTSON	VICE PRESIDENT OF BUSINESS DEVELOPMENT	40.00	Officer	$135,267	$7,700	$142,967
WALTER BUCHHOLTZ	DIR. OF OPERATIONS	40.00	Highest	$195,988	$10,478	$206,466
BONNIE DOWNS	DIRECTOR OF COMMUNICATIONS	40.00	Highest	$109,926	$8,037	$117,963
EMILY LAWLEY	DIRECTOR OF EVENTS	40.00	Highest	$112,409	$3,791	$116,200
CHRISTIN EVANS	VICE PRESIDENT OF EXTERNAL(FORMER)	40.00		$177,981	$3,940	$181,921
MICHAEL CHROBAK	EXECUTIVE VP(FORMER)	40.00		$262,684	$8,623	$271,307
VERONICA BEYER	DIRECTOR OF MARKETING & CO(FORMER)	40.00		$165,701	$7,979	$173,680

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	$3,771,185	$4,563,859	$8,821,031	$-792,674
2023	$5,923,992	$3,085,195	$9,847,471	$2,838,797
2022	$3,628,909	$3,740,053	$7,644,414	$-111,144
2021	$3,364,971	$2,418,556	$6,772,310	$946,415
2020	$3,149,563	$2,353,939	$5,891,636	$795,624
2019	$4,166,661	$2,801,670	$5,117,866	$1,364,991
2018	$3,468,071	$2,195,135	$3,679,410	$1,272,936

TEXAS ECONOMIC DEVELOPMENT CORPORATION