HAS DEVELOPMENT CORPORATION (EIN 743027286) - 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

2001

Legal Domicile

Principal Officer

ADA SILVA

Phone

8326462614

Tax Period

2023-01-01 to 2023-12-31

HAS DEVELOPMENT CORPORATION, founded in 2001, is a community nonprofit in the Public & Societal Benefit sector that reported $6.6M in total revenue in fiscal year 2023. Revenue surged 79% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.7M, a strong 55% operating margin.

Mission

THE ORGANIZATION SEEKS TO PROMOTE AIR TRANSPORTATION, TRADE, AND ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE HOUSTON AIRPORT SYSTEM AND TO PROVIDE SERVICES, SUCH AS AIRPORT TECHNICAL ADVISORY SERVICES AND PERSONNEL TRAINING, TO AIRPORTS AROUND THE WORLD.

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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 $0

Program Service Revenue $1,266,250

Investment Income $5,334,467

Other Revenue $0

TOTAL REVENUE $6,600,717

Expense Breakdown

Grants Paid $1,042,825

Salaries & Benefits $1,076,932

Fundraising Expenses $0

Program Expenses $1,643,431

Other Expenses $827,015

TOTAL EXPENSES $2,946,772

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,600,717	$3,684,253	+0.8%
Expenses	$2,946,772	$3,728,108	-0.2%
Net Income	$3,653,945	$-43,855	-84.3%

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

$1,032,169

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARIO DIAZ	CHAIRMAN OF THE BOARD	0.50	Officer Director	$0	$0	$0
MICHAEL COX	VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
ASTLEY BLAIR	SECRETARY AND TREASURER	0.50	Officer Director	$0	$0	$0
ADA C SILVA	CFO & ASSISTANT TREASURER	40.00	Officer	$298,125	$0	$298,125
AGUSTIN ARELLANO	PRESIDENT & CEO	40.00	Officer	$422,219	$0	$422,219
EDUARDO IGLESIAS	CHIEF LEGAL OFFICER & ASSISTANT SECRETARY	40.00	Officer	$311,825	$0	$311,825

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	$6,600,717	$2,946,772	$23,489,645	$3,653,945
2022	$3,684,253	$3,728,108	$19,888,772	$-43,855
2021	$1,642,583	$1,813,317	$20,118,032	$-170,734
2020	$1,162,771	$1,668,145	$22,117,336	$-505,374
2018	$1,339,360	$798,577	$3,583,071	$540,783

HAS DEVELOPMENT CORPORATION