ECONOMIC DEVELOPMENT CORPORATION S… - 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

1965

Legal Domicile

Principal Officer

MARK CAFFERTY

Phone

6192348484

Tax Period

2024-01-01 to 2024-12-31

ECONOMIC DEVELOPMENT CORPORATION SAN DIEGO COUNTY, founded in 1965, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2024.

Mission

TO MAXIMIZE THE REGION'S ECONOMIC PROSPERITY AND GLOBAL COMPETITIVENESS.

Program Service Accomplishments

Program 1

Expenses: $3,699,810 Revenue: $1,067,937

THE REGIONAL SBDC LEAD CENTER, BASED AT SOUTHWESTERN COLLEGE, CONTRACTS WITH EDC TO COORDINATE AND FACILITATE RECOVERY ASSISTANCE AND RESOURCES FOR SMALL BUSINESSES. IN ADDITION, SBDC CONTRACTS WITH EDC/WTC TO PROVIDE EXPORT COUNSELING AND RESOURCES TO SMALL BUSINESSES.THE CITY OF SAN DIEGO CONTRACTS WITH EDC TO PROVIDE BUSINESS RETENTION, AND EXPANSION SERVICES THROUGHOUT THE CITY. IT ALSO SUPPORTS EDC AFFLIATE WORLD TRADE CENTER SAN DIEGO'S METROCONNECT PROGRAM TO HELP SMALL BUSINESS BUILD EXPORTS, FACILITATE FOREIGN DIRECT INVESTMENT AND ORGANIZE TRADE MISSIONS.

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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 $2,955,090

Program Service Revenue $1,067,937

Investment Income $95,947

Other Revenue $182,379

TOTAL REVENUE $4,301,353

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,318,647

Fundraising Expenses $0

Program Expenses $3,699,810

Other Expenses $970,656

TOTAL EXPENSES $4,289,303

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,301,353	$3,999,265	+0.1%
Expenses	$4,289,303	$3,988,637	+0.1%
Net Income	$12,050	$10,628	+0.1%

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

200

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

$820,083

Total Directors

$472,808

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIE BROOKS	BOARD CHAIR	40.00	Officer Director	$0	$0	$0
THOMAS SEIDLER	VICE CHAIR	40.00	Officer Director	$0	$0	$0
LISETTE ISLAS	VICE CHAIR INCLUSION	40.00	Officer Director	$0	$0	$0
BRUCE FOLKMANN	TREASURER	40.00	Officer Director	$0	$0	$0
NELSON ACKERLY	DIRECTOR	0.00	Director	$0	$0	$0
CHRIS AMBLE	DIRECTOR	0.00	Director	$0	$0	$0
PAUL BARIBAULT	DIRECTOR	0.00	Director	$0	$0	$0
KIMBERLY BECKER	DIRECTOR	0.00	Director	$0	$0	$0
BRYAN BENSO	DIRECTOR	0.00	Director	$0	$0	$0
TOM BETHMANN	DIRECTOR	0.00	Director	$0	$0	$0
ROBERT BLAIR	DIRECTOR	0.00	Director	$0	$0	$0
LINDEN BLUE	DIRECTOR	0.00	Director	$0	$0	$0
KIMBERLY BREWER	DIRECTOR	0.00	Director	$0	$0	$0
JANICE BROWN	DIRECTOR	0.00	Director	$0	$0	$0
ALISON BUDELSKY	DIRECTOR	0.00	Director	$0	$0	$0
TIAGO CARNEIRO	DIRECTOR	0.00	Director	$0	$0	$0
RHO CAULEY BRUNER	DIRECTOR	0.00	Director	$0	$0	$0
ZOE CAWLFIELD	DIRECTOR	0.00	Director	$0	$0	$0
DAVID CHERASHORE	DIRECTOR	0.00	Director	$0	$0	$0
CLIFFORD CHO	DIRECTOR	0.00	Director	$0	$0	$0
ADELA DE LA TORRE	DIRECTOR	0.00	Director	$0	$0	$0
DAN DENHAM	DIRECTOR	0.00	Director	$0	$0	$0
DENNIS DOUCETTE	DIRECTOR	0.00	Director	$0	$0	$0
MARK FIELD	DIRECTOR	0.00	Director	$0	$0	$0
JANE FINLEY	DIRECTOR	0.00	Director	$0	$0	$0
ALISON FLEURY	DIRECTOR	0.00	Director	$0	$0	$0
PATRICIO FRIAS	DIRECTOR	0.00	Director	$0	$0	$0
KERRY FULCHER	DIRECTOR	0.00	Director	$0	$0	$0
LAURA GARRETT	DIRECTOR	0.00	Director	$0	$0	$0
CARLOS GONZALEZ	DIRECTOR	0.00	Director	$0	$0	$0
STEFFI HAFEN	DIRECTOR	0.00	Director	$0	$0	$0
JAMES HARRIS	DIRECTOR	0.00	Director	$0	$0	$0
ASHLEY HAYSLIP	DIRECTOR	0.00	Director	$0	$0	$0
ERIC ICKE	DIRECTOR	0.00	Director	$0	$0	$0
JASON JAGER	DIRECTOR	0.00	Director	$0	$0	$0
KEITH B JONES	DIRECTOR	0.00	Director	$0	$0	$0
PRADEEP KHOSLA	DIRECTOR	0.00	Director	$0	$0	$0
JUNE KOMAR	DIRECTOR	0.00	Director	$0	$0	$0
JAKE LEACH	DIRECTOR	0.00	Director	$0	$0	$0
KATHRYN LEMBO	DIRECTOR	0.00	Director	$0	$0	$0
ALESSANDRA LEZAMA	DIRECTOR	0.00	Director	$0	$0	$0
JEFF LINDEMAN	DIRECTOR	0.00	Director	$0	$0	$0
MATTHEW LUXTON	DIRECTOR	0.00	Director	$0	$0	$0
SHELLEY LYFORD	DIRECTOR	0.00	Director	$0	$0	$0
LAURA MACNEEL	DIRECTOR	0.00	Director	$0	$0	$0
ARNULFO MANRIQUEZ	DIRECTOR	0.00	Director	$0	$0	$0
ANNE MARBARGER	DIRECTOR	0.00	Director	$0	$0	$0
SANDRA MCDONOUGH	DIRECTOR	0.00	Director	$0	$0	$0
MARK MILLIRON	DIRECTOR	0.00	Director	$0	$0	$0
JULI MORAN	DIRECTOR	0.00	Director	$0	$0	$0
MIKE NEAL	DIRECTOR	0.00	Director	$0	$0	$0
ELLEN NEUFELDT	DIRECTOR	0.00	Director	$0	$0	$0
CARLOS NUNEZ	DIRECTOR	0.00	Director	$0	$0	$0
GRANT OLIPHANT	DIRECTOR	0.00	Director	$0	$0	$0
TAD PARZEN	DIRECTOR	0.00	Director	$0	$0	$0
KEVIN PEGELS	DIRECTOR	0.00	Director	$0	$0	$0
TOM PENN	DIRECTOR	0.00	Director	$0	$0	$0
STEVE PONTELL	DIRECTOR	0.00	Director	$0	$0	$0
KAREN REINHARDT	DIRECTOR	0.00	Director	$0	$0	$0
MONIQUE RODRIGUEZ	DIRECTOR	0.00	Director	$0	$0	$0
MANUEL RODRIGUEZ	DIRECTOR	0.00	Director	$0	$0	$0
DANIEL RYAN	DIRECTOR	0.00	Director	$0	$0	$0
AARON RYAN	DIRECTOR	0.00	Director	$0	$0	$0
MARK STUART	DIRECTOR	0.00	Director	$0	$0	$0
COLTON SUDBERRY	DIRECTOR	0.00	Director	$0	$0	$0
PETER TOWNSHEND	DIRECTOR	0.00	Director	$0	$0	$0
RAY VARELA	DIRECTOR	0.00	Director	$0	$0	$0
SIDDHARTHA VIVEK	DIRECTOR	0.00	Director	$0	$0	$0
BARBARA WIGHT	DIRECTOR	0.00	Director	$0	$0	$0
CHRIS WILLIAMS	DIRECTOR	0.00	Director	$0	$0	$0
DERRICK YORK	DIRECTOR	0.00	Director	$0	$0	$0
MARK CAFFERTY	PRESIDENT & CEO	40.00	Officer Director	$451,194	$21,614	$472,808
LAUREE SAHBA	COO	40.00	Officer	$328,325	$18,950	$347,275
NIKIA CLARKE	SENIOR VICE PRESIDENT	40.00	Highest	$240,750	$13,907	$254,657
EDUARDO VELASQUEZ	SR. DIRECTOR	40.00	Highest	$150,500	$9,030	$159,530
JENNIFER STORM	EXECUTIVE DIRECTOR	40.00	Highest	$134,075	$8,045	$142,120

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	$4,301,353	$4,289,303	$3,860,448	$12,050
2023	$3,999,265	$3,988,637	$3,922,793	$10,628
2022	$3,684,416	$3,691,585	$2,869,414	$-7,169
2021	$3,922,544	$3,291,770	$2,842,251	$630,774
2020	$3,832,004	$3,374,529	$2,026,624	$457,475
2019	$3,943,352	$3,965,605	$1,560,817	$-22,253
2019	$3,976,352	$3,965,605	$1,593,817	$10,747
2018	$3,836,276	$3,818,262	$1,481,347	$18,014

ECONOMIC DEVELOPMENT CORPORATION SAN DIEGO COUNTY