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← EMERGING MARKETS DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by EMERGING MARKETS DEVELOPMENT CORPORATION.

Totals

Total revenue
$731,000
Total expenses
$637,602
Contributions and grants received
$731,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$866,544
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$866,544
Program services expenses (Part IX)
$622,617
Management and general expenses
$14,985
Fundraising expenses
$0
Program service expenses (Part III)
$622,617

Program services were 97.6% 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.

  • 1f · All other contributions, gifts and grants

    $731,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $14,500 · management and general $14,500

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $622,617 · program services $622,617

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: BANK CHARGES

    total $285 · management and general $285

  • 24b · Other expenses: LICENSES AND FEES

    total $200 · management and general $200

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $773,146 · end of year $866,544

  • 27 · Net assets without donor restrictions

    beginning of year $90,358 · end of year $75,373

  • 28 · Net assets with donor restrictions

    beginning of year $682,788 · end of year $791,171

Mission and programs · 2024

Mission

Research and publish data on under-invested communities as opportunities for place-based initiatives. Facilitate private sector investment in underserved communities. Assists community organizations to partner with each other and the private sector for community development activities. Advance notions of place-based community economic development.

Activities or mission (Part I)

Builds the capacity of communities, via nonprofit networks, to partner with the private sector in economic development activities.

  • Facilitating working relationships between nonprofit agencies and private sector businesses. Conducting research on specific neighborhoods and advocating for increased financial infrastructure in underserved communities. Drafting and publishing narratives about how the private sector can improve the economic tradjectory of low-income communities.

    Expenses $622,617 · Revenue $731,000

As filed on the 2024 return.

Listed in Part VII

  • Elwood Hopkins

    CEO

    Total calculated
    $214,046
    From this org
    $0
    From related orgs
    $214,046
    Other
    $0
    Hours/week
    3 + 25 related

    Schedule J breakdown matched by us

    Base
    not reported + $214,046 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $214,046 related

  • Thomas Tseng

    DIRECTOR

    Total calculated
    $0

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Daniel Tellalian

    FORMER

    Total calculated
    $0
    Hours/week
    2.31

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Jan McElwee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Raul P Lomeli-Azoubel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Trooper Sanders

    DIRECTOR

    Total calculated
    $0

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Emerging Markets Inc

    S Corp · Consulting · CA

Provenance

Return type
form_990
Tax year
2024
Filed
26 May 2025
IRS schema version
2024v5.1
Source object
202521469349300307

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