Form 990 for tax year 2022

Filed by SOLANO ECONOMIC DEVCO CORPORATION.

Totals

Total revenue: $1,343,844
Total expenses: $1,260,140
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $1,334,397
Investment income: $6
Other revenue: $9,441
Total assets, end of year: $150,411
Total liabilities, end of year: $13,159
Net assets or fund balances, end of year: $137,252
Program services expenses (Part IX): $0
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2a · Program service revenue: Membership Dues

total $537,371 · unrelated business $0 · excluded $0
2b · Program service revenue: County of Solano - BayREN Contract

total $274,568 · unrelated business $0 · excluded $0
2c · Program service revenue: City of Fairfield - TCC Contract

total $70,450 · unrelated business $0 · excluded $0
2d · Program service revenue: Solano Transportation Authority Contract

total $55,830 · unrelated business $0 · excluded $0
2e · Program service revenue: EDA Grant (Federal and Local)

total $396,178 · unrelated business $0 · excluded $0
3 · Investment income

total $6 · unrelated business $0 · excluded $6
8a · Fundraising events: gross income

$15,450
8b · Fundraising events: direct expenses

$8,667
8c · Net income from fundraising events

total $6,783 · unrelated business $0 · excluded $6,783
11a · Other revenue: Newsletter Sponsorship

total $2,500 · related or exempt $0 · unrelated business $0 · excluded $2,500
11b · Other revenue: Service Fee Income

total $158 · related or exempt $0 · unrelated business $0 · excluded $158
11e · Other revenue, total

$2,658

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $201,505 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $439,749 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $38,537 · program services $0 · management and general $0 · fundraising $0
9 · Other employee benefits

total $24,741 · program services $0 · management and general $0 · fundraising $0
10 · Payroll taxes

total $48,199 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $60 · program services $0 · management and general $0 · fundraising $0
11c · Fees: accounting

total $14,335 · program services $0 · management and general $0 · fundraising $0
11g · Fees: other

total $310,012 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $73,118 · program services $0 · management and general $0 · fundraising $0
13 · Office expenses

total $8,239 · program services $0 · management and general $0 · fundraising $0
14 · Information technology

total $7,096 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $51,060 · program services $0 · management and general $0 · fundraising $0
17 · Travel

total $5,051 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $8,120 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $4,162 · program services $0 · management and general $0 · fundraising $0
23 · Insurance

total $9,245 · program services $0 · management and general $0 · fundraising $0
24a · Other expenses: Dues, Memberships & Subs

total $16,891 · program services $0 · management and general $0 · fundraising $0
24b · Other expenses: Taxes & Filing Fees

total $20 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $46,771 · end of year $141,191
2 · Savings and temporary cash investments

beginning of year $79,351 · end of year $2,380
4 · Accounts receivable

beginning of year $17,500 · end of year $3,030
9 · Prepaid expenses and deferred charges

beginning of year $3,500 · end of year $3,500
10a · Land, buildings and equipment: cost or other basis

$23,579
10b · Land, buildings and equipment: accumulated depreciation

$23,269
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $310
17 · Accounts payable and accrued expenses

beginning of year $297 · end of year $3,878
25 · Other liabilities

beginning of year $93,277 · end of year $9,281
31 · Retained earnings, endowment or other funds

beginning of year $53,548 · end of year $137,252

Mission and programs · 2022

Mission

To positively impact the economic growth of Solano County by maintaining & enhancing a competitive location for businesses to expand & locate, providing direct service to scale local traded sector industries, attracting new jobs & investment, & connecting businesses with resources to meet their needs. The EDC collaborates with the cities, county, workforce development, utilities, & education to deliver all resources.

Solano Business First! is a network of all cities and partner organizations dedicated to reaching out and assisting existing companies in their cities by connecting them with specific resources, information, and services. Resources and services are available to assist businesses with expansions, address economic difficulties, access local, state and federal incentives and with assistance to help the company be more competitive in the broader marketplace.
Confidential Site Location Assistance: Solano EDC works on a confidential basis with companies seeking to identify sites or buildings in the county, provides proposals and data per their request for location-decision evaluation, and will coordinate site tours. Once a company has identified specific sites that meet their needs, the City Economic Development representative will provide primary assistance, with the EDC continuing to provide data on workforce or access to programs to assist with location.
As a Resource hub, the EDC provides demographic reports for special areas of interest, including information on available workforce, water rates, major employers, and occupations. For companies seeking business financing, the EDC will (1) Make referrals to agencies to assist with loan guarantees, direct financing, SBA loan packages, equipment and real estate financing and Industrial Development Bonds. (2) Assist businesses using recycled materials or diverting materials from the waste stream with Californias Recycling Market Development Zone Loan Program; and (3) Assist with project development infrastructure program financing partnered with a local city.

As filed on the 2022 return.

Listed in Part VII

Christopher E Rico

President / CEO

Total calculated

$184,994

From this org

$184,994

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$169,844

Bonus

$7,650

Other

$7,500

Deferred

$12,734

Nontaxable benefits

$10,656

Filer's total

$208,384
J Paul Harrington

Program Manager

Total calculated

$128,283

From this org

$128,283

From related orgs

$0

Other

$0

Hours/week

40
Celia Esposito-Noy

Chairman

Total calculated

$0

Hours/week

2
Kevin Miller

Treasurer

Total calculated

$0

Hours/week

1
Albert Lavezzo

Secretary

Total calculated

$0

Hours/week

1
Paul Adler

Director

Total calculated

$0

Hours/week

0.5
Greg Armstrong

Director

Total calculated

$0

Hours/week

0.5
Veronica Boe

Director

Total calculated

$0

Hours/week

0.5
Aaron Busch

Director

Total calculated

$0

Hours/week

0.5
Nicole Byrd Braddock

Director

Total calculated

$0

Hours/week

0.5
John Carli

Director

Total calculated

$0

Hours/week

0.5
Richard Casavecchia

Director

Total calculated

$0

Hours/week

0.5
Kim Castaneda

Director

Total calculated

$0

Hours/week

0.5
Fidel Chavez

Director

Total calculated

$0

Hours/week

0.5
David Danzeisen

Director

Total calculated

$0

Hours/week

0.5
Bill Emlen

Director

Total calculated

$0

Hours/week

0.5
Lisette Estrella-Henderson

Director

Total calculated

$0

Hours/week

0.5
Greg Folsom

Director

Total calculated

$0

Hours/week

0.5
Theresa Fortier

Director

Total calculated

$0

Hours/week

0.5
David Gassaway

Director

Total calculated

$0

Hours/week

0.5
Michael Ghiorso

Director

Total calculated

$0

Hours/week

0.5
Mario Giuliani

Director

Total calculated

$0

Hours/week

0.5
Daryl Halls

Director

Total calculated

$0

Hours/week

0.5
Erin Hannigan

Director

Total calculated

$0

Hours/week

0.5
Heather Henry

Director

Total calculated

$0

Hours/week

0.5
Alma Hernandez

Director

Total calculated

$0

Hours/week

0.5
Newman Hoffman

Director

Total calculated

$0

Hours/week

0.5
Kelley Jaeger-Jackson

Director

Total calculated

$0

Hours/week

0.5
Kevin Johnson

Director

Total calculated

$0

Hours/week

0.5
Andrea Jones

Director

Total calculated

$0

Hours/week

0.5
Konard Jones

Director

Total calculated

$0

Hours/week

0.5
Liz Kelly

Director

Total calculated

$0

Hours/week

0.5
Bridgit Koller

Director

Total calculated

$0

Hours/week

0.5
Jim Lindley

Director

Total calculated

$0

Hours/week

0.5
Mina Loera-Diaz

Director

Total calculated

$0

Hours/week

0.5
Mike Malone

Director

Total calculated

$0

Hours/week

0.5
Mitch Mashburn

Director

Total calculated

$0

Hours/week

0.5
Sheila Barrett McCabe

Director

Total calculated

$0

Hours/week

0.5
Onassis McFarlane

Director

Total calculated

$0

Hours/week

0.5
Kristina Miller

Director

Total calculated

$0

Hours/week

0.5
Cat Moy

Director

Total calculated

$0

Hours/week

0.5
Edwin Okamura

Director

Total calculated

$0

Hours/week

0.5
Scott Pardini

Director

Total calculated

$0

Hours/week

0.5
Jon Quick

Director

Total calculated

$0

Hours/week

0.5
Melyssa Reeves

Director

Total calculated

$0

Hours/week

0.5
Scott Reynolds

Director

Total calculated

$0

Hours/week

0.5
Nicolas Ruhl

Director

Total calculated

$0

Hours/week

0.5
James Russell-Field

Director

Total calculated

$0

Hours/week

0.5
Terry Scott

Director

Total calculated

$0

Hours/week

0.5
Scott Sheldon

Director

Total calculated

$0

Hours/week

0.5
Jeremiah Smith

Director

Total calculated

$0

Hours/week

0.5
Sheniece Smith

Director

Total calculated

$0

Hours/week

0.5
Sanjit Sodhi

Director

Total calculated

$0

Hours/week

0.5
Talyon Sortor

Director

Total calculated

$0

Hours/week

0.5
Lindsey Strange

Director

Total calculated

$0

Hours/week

0.5
Kathleen Trepa

Director

Total calculated

$0

Hours/week

0.5
Rob White

Director

Total calculated

$0

Hours/week

0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Solano Economic Development Corp

501(c)3 · Charitable · CA

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2022
Filed: 7 November 2023
IRS schema version: 2022v5.0
Source object: 202303399349300100

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