Form 990 for tax year 2024
Filed by OKLAHOMA CITY ECONOMIC DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $4,904,934
- Total expenses
- $5,157,850
- Contributions and grants received
- $1,845,257
- Grants paid
- $1,487,000
- Program service revenue
- $3,015,179
- Investment income
- $44,498
- Other revenue
- $0
- Total assets, end of year
- $2,852,292
- Total liabilities, end of year
- $1,316,746
- Net assets or fund balances, end of year
- $1,535,546
- Program services expenses (Part IX)
- $4,953,375
- Management and general expenses
- $204,475
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,953,375
Program services were 96.0% 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.
-
1e · Government grants (contributions)
$748,597
-
1f · All other contributions, gifts and grants
$1,096,660
-
2a · Program service revenue: CONTRACT REVENUE
total $2,802,393 · related or exempt $2,802,393
-
2b · Program service revenue: RENTAL INCOME
total $100,000 · related or exempt $100,000
-
2c · Program service revenue: MEMBERSHIP DUES
total $62,263 · related or exempt $62,263
-
2d · Program service revenue: PROGRAM & ACTIVITY
total $50,523 · related or exempt $50,523
-
3 · Investment income
total $44,498 · excluded $44,498
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,487,000 · program services $1,487,000
-
11a · Fees: management
total $375,000 · program services $275,000 · management and general $100,000
-
11c · Fees: accounting
total $8,850 · management and general $8,850
-
11g · Fees: other
total $799,123 · program services $799,123
-
12 · Advertising and promotion
total $912,056 · program services $912,056
-
13 · Office expenses
total $13,952 · program services $11,580 · management and general $2,372
-
14 · Information technology
total $329,734 · program services $329,734
-
16 · Occupancy
total $18,218 · management and general $18,218
-
17 · Travel
total $96,013 · program services $96,013
-
19 · Conferences, conventions and meetings
total $343,451 · program services $343,451
-
22 · Depreciation, depletion and amortization
total $103,888 · program services $30,450 · management and general $73,438
-
23 · Insurance
total $1,597 · management and general $1,597
-
24a · Other expenses: SPONSOR & EVENT SUPPORT
total $452,647 · program services $452,647
-
24b · Other expenses: OTHER EXPENSES
total $111,095 · program services $111,095
-
24c · Other expenses: EVENT PRODUCTION
total $89,841 · program services $89,841
-
24d · Other expenses: PROFESSIONAL DUES
total $15,385 · program services $15,385
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $1,549,390 · end of year $1,247,978
-
4 · Accounts receivable
beginning of year $563,654 · end of year $641,575
-
9 · Prepaid expenses and deferred charges
beginning of year $288,743 · end of year $219,883
-
10a · Land, buildings and equipment: cost or other basis
$2,445,443
-
10b · Land, buildings and equipment: accumulated depreciation
$1,702,587
-
10c · Land, buildings and equipment, net
beginning of year $780,663 · end of year $742,856
-
17 · Accounts payable and accrued expenses
beginning of year $292,317 · end of year $228,832
-
19 · Deferred revenue
beginning of year $1,101,671 · end of year $1,087,914
-
27 · Net assets without donor restrictions
beginning of year $857,745 · end of year $834,113
-
28 · Net assets with donor restrictions
beginning of year $930,717 · end of year $701,433
Mission and programs · 2024
Mission
TO CREATE NEW JOBS AND PAYROLL IN THE OKLAHOMA CITY REGION.
-
THE FOUNDATION HAS ENTERED INTO THREE PROFESSIONAL SERVICES AGREEMENTS WITH THE CITY OF OKLAHOMA CITY. THE FIRST CONTRACT IS UTILIZED TO PROMOTE, FOSTER, AND DEVELOP A POSITIVE BUSINESS CLIMATE TO ENHANCE AND EXPAND ECONOMIC DEVELOPMENT ACTIVITIES IN OKLAHOMA CITY. THE SECOND CONTRACT RELATES TO SERVICES RELATING TO THE ESTABLISHMENT OF THE OKLAHOMA CITY FILM & CREATIVE INDUSTRIES OFFICE. THIS OFFICE WILL CULTIVATE THE GROWTH OF THE FILM, MUSIC AND OTHER CREATIVE AND SUPPORT INDUSTRIES WITHIN OKLAHOMA CITY. THE THIRD CONTRACT IS AN AGREEMENT THAT PROVIDES ARPA RECOVERY FUNDS TO FUND TOURISM RECOVERY.
Expenses $2,516,762 · Revenue $2,552,393
-
THE FOUNDATION PARTNERS WITH THE OKLAHOMA CITY CHAMBER ON VARIOUS PROGRAMS WITH THE MOST SIGNIFICANT BEING THE FORWARD OKLAHOMA CITY PROGRAM. FORWARD OKLAHOMA CITY IS A FIVE YEAR ECONOMIC DEVELOPMENT PROGRAM DESIGNED TO MEET SPECIFIC NEEDS AND OVERCOME OBSTACLES TO QUALITY JOB GROWTH. EFFORTS PRIMARILY FOCUS ON (1) MARKETING THE CITY OF OKLAHOMA CITY AS A RELOCATION SITE TO EXPAND THE LOCAL JOB BASE, (2) ENHANCING THE LOCAL K-12 EDUCATION OPPORTUNITIES, (3) ADDRESSING TALENT RETENTION AND ATTRACTION, AND (4) OTHER MISCELLANEOUS PROGRAMS THAT SUPPORT ECONOMIC DEVELOPMENT EFFORTS.
Expenses $1,576,315 · Grants $1,487,000 · Revenue $371,023
-
THE FOUNDATION HAS RECEIVED TWO GRANTS FROM THE DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION. GRANT 1 RELATES TO THE BUILD BACK BETTER REGIONAL CHALLENGE AND GRANT 2 RELATES TO THE OKLAHOMA BIOTECH INNOVATION CLUSTER COLLABORATIVE.
Expenses $748,597
-
THE GREATER OKLAHOMA CITY PARTNERSHIP WAS ORGANIZED TO WORK WITH THE TEN COUNTY REGION TO PROMOTE VARIOUS ECONOMIC DEVELOPMENT PROGRAMS IN THE GREATER OKLAHOMA CITY REGION.
Expenses $111,701 · Revenue $91,763
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Gillenwater ChristyGILLENWATER CHRISTY
PRESIDENT & CEO
- Total calculated
- $602,099
- From this org
- $0
- From related orgs
- $563,999
- Other
- $38,100
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $406,499 related
- Bonus
- $0 + $150,000 related
- Other
- $0 + $7,500 related
- Deferred
- $0 + $20,650 related
- Nontaxable benefits
- $0 + $17,450 related
- Filer's total
- $0 + $602,099 related
-
Trauschke SeanTRAUSCHKE SEAN
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Rose TeresaROSE TERESA
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Hart JohnHART JOHN
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Rainbolt DavidRAINBOLT DAVID
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Bennett ClaytonBENNETT CLAYTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Hatfield JudyHATFIELD JUDY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Hooper RhondaHOOPER RHONDA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lance BillLANCE BILL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
McDaniel TomMCDANIEL TOM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Meyer Jenny LoveMEYER JENNY LOVE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Muncrief RickMUNCRIEF RICK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Nichols J LarryNICHOLS J LARRY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Shortridge W KentSHORTRIDGE W KENT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Ross MichaelROSS MICHAEL
CORPORATE SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Funk Jr BobFUNK JR BOB
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Denny BabaraDENNY BABARA
CFO / VP OF OPERATIONS
- Total calculated
- $295,146
- From this org
- $0
- From related orgs
- $271,174
- Other
- $23,972
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $209,043 related
- Bonus
- $0 + $62,131 related
- Other
- $0
- Deferred
- $0 + $16,642 related
- Nontaxable benefits
- $0 + $7,330 related
- Filer's total
- $0 + $295,146 related
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
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
-
ECONOMIC DEVELOPMENT
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.
-
GREATER OKLAHOMA CITY CHAMBER OF COMMERCE INC
501(C)(6) · ECONOMIC DEVELOPMENT · OK
-
GREATER OKLAHOMA CITY CHAMBER INC POLITICAL ACTION COMMITTEE
527 · POLITICAL SUPPORT · OK · controlled entity
Directly controlled by GREATER OKLAHOMA CITY CHAMBER OF COMMERCE INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533179349308363
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