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Nonprofiteer
← OKLAHOMA CITY ECONOMIC DEVELOPMENT FOUNDATION INC

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 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 Sean

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Rose Teresa

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Hart John

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Rainbolt David

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Bennett Clayton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Hatfield Judy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Hooper Rhonda

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Lance Bill

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • McDaniel Tom

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Meyer Jenny Love

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Muncrief Rick

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Nichols J Larry

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Shortridge W Kent

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Ross Michael

    CORPORATE SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Funk Jr Bob

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Denny 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

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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