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Nonprofiteer
← SOLANO ECONOMIC DEVCO CORPORATION

Form 990 for tax year 2023

Filed by SOLANO ECONOMIC DEVCO CORPORATION.

Totals

Total revenue
$1,209,530
Total expenses
$1,118,609
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,191,211
Investment income
$2,315
Other revenue
$16,004
Total assets, end of year
$2,266,136
Total liabilities, end of year
$2,037,963
Net assets or fund balances, end of year
$228,173
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$526,135

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 $611,799 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: County of Solano - BayREN Contract

    total $334,285 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: City of Fairfield - TCC Contract

    total $75,000 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Revolving Loan Fund (RLF)

    total $65,043 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Solano Transportation Authority Contract

    total $63,100 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $41,984 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,315 · unrelated business $0 · excluded $2,315

  • 7a · Gross sales of assets other than inventory

    other assets $0

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $41,850

  • 8b · Fundraising events: direct expenses

    $29,227

  • 8c · Net income from fundraising events

    total $12,623 · unrelated business $0 · excluded $12,623

  • 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 $881 · related or exempt $0 · unrelated business $0 · excluded $881

  • 11e · Other revenue, total

    $3,381

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $327,134 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $407,944 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $57,786 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $39,817 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $55,312 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $18,288 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $17,311 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $25,550 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $58,305 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $10,884 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $3,854 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $55,190 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $5,892 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $7,822 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $835 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $9,054 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Dues, Memberships & Subs

    total $17,622 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: Taxes & Filing Fees

    total $9 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $141,191 · end of year $1,075,702

  • 2 · Savings and temporary cash investments

    beginning of year $2,380 · end of year $54,649

  • 4 · Accounts receivable

    beginning of year $3,030 · end of year $182,615

  • 7 · Other notes and loans receivable

    end of year $926,363

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,500 · end of year $26,246

  • 10a · Land, buildings and equipment: cost or other basis

    $15,734

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,173

  • 10c · Land, buildings and equipment, net

    beginning of year $310 · end of year $561

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,878 · end of year $14,126

  • 24 · Unsecured notes and loans payable

    end of year $1,829,128

  • 25 · Other liabilities

    beginning of year $9,281 · end of year $194,709

  • 31 · Retained earnings, endowment or other funds

    beginning of year $137,252 · end of year $228,173

Mission and programs · 2023

Mission

To bring greater prosperity to the people, businesses, and communities of Solano County through partnerships, projects, and programs that focus on Business Attraction, Business Retention and Expansion, and projects that serve the Public Good.

  • Bay Area Regional Energy Network (BayREN) is a collaboration of the nine Bay Area Counties aimed at promoting energy efficiency, water conservation, and greenhouse gas reduction for residents, businesses, and local governments within the region.

    Expenses $350,835

  • Revolving Loan Program: In partnership with the County of Solano, utilizing American Rescue Plan (ARPA) funds, we collaborated with three local lenders, First Northern Bank, Travis Credit Union and Valley Strong Credit union to create a revolving loan fund to assist local small businesses with financial recovery from the impacts of Covid 19.

    Expenses $92,179

  • The Solano EDC Business Retention Program is aimed at actively supporting and maintaining existing businesses within Solano County, by understanding their needs and providing resources to help them grow and thrive within the community.

    Expenses $83,121

As filed on the 2023 return.

Listed in Part VII

  • Christopher E Rico

    President / CEO

    Total calculated
    $216,837
    From this org
    $216,837
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,451
    Bonus
    $28,386
    Other
    $0
    Deferred
    $18,845
    Nontaxable benefits
    $11,504
    Filer's total
    $247,186

  • J Paul Harrington

    Vice President

    Total calculated
    $140,015
    From this org
    $140,015
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Kevin Miller

    Chairman / Treasurer

    Total calculated
    $0
    Hours/week
    3

  • 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

  • Dr Kellie Butler

    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

  • Kim Castaneda

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • David Danzeisen

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Estipona

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Lisette Estrella-Henderson

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Theresa Fortier

    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

  • Bridgit Koller

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Mina Loera-Diaz

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Mitch Mashburn

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Onassis McFarlane

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Cat Moy

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Derek Nelson

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Edwin Okamura

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jimmy Pierson

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jon Quick

    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

  • Sanjit Sodhi

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Naytri Sramek

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Lindsey Strange

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Gina Vasquez

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Bill Biasi

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Aaron Busch

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Jeremy Craig

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Bill Emlen

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • David Gassaway

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Mario Giuliani

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Lindley

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Kristina Miller

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Andrew Murray

    Ex Officio

    Total calculated
    $0
    Hours/week
    0.5

  • Bret Prebula

    Ex Officio

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
31 January 2025
IRS schema version
2023v6.0
Source object
202500339349300060

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