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Nonprofiteer
← TULSA ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by TULSA ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,003,005
Total expenses
$5,036,348
Contributions and grants received
$4,039,349
Grants paid
$2,243,309
Program service revenue
$239,420
Investment income
$600,001
Other revenue
$124,235
Total assets, end of year
$30,345,955
Total liabilities, end of year
$12,063,774
Net assets or fund balances, end of year
$18,282,181
Program services expenses (Part IX)
$4,514,849
Management and general expenses
$521,499
Fundraising expenses
$0
Program service expenses (Part III)
$4,514,849

Program services were 89.6% 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.

  • 1e · Government grants (contributions)

    $1,158,502

  • 1f · All other contributions, gifts and grants

    $2,880,847

  • 1g · Noncash contributions included above

    $2,220,000

  • 2a · Program service revenue: FEE INCOME

    total $239,420 · related or exempt $239,420

  • 3 · Investment income

    total $600,350 · related or exempt $595,292 · excluded $5,058

  • 6a · Gross rents

    real property $327,878

  • 6b · Less rental expenses

    real property $203,643

  • 6c · Rental income or loss

    real property $124,235

  • 6d · Net rental income or loss

    total $124,235 · excluded $124,235

  • 7a · Gross sales of assets other than inventory

    securities $31,768

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

    securities $32,117

  • 7c · Gain or loss

    securities -$349

  • 7d · Net gain or loss

    total -$349 · excluded -$349

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,243,309 · program services $2,243,309

  • 5 · Compensation of officers, directors and key employees

    total $187,128 · program services $130,990 · management and general $56,138

  • 7 · Other salaries and wages

    total $755,184 · program services $713,702 · management and general $41,482

  • 8 · Pension plan contributions

    total $20,164 · program services $20,164

  • 9 · Other employee benefits

    total $126,021 · program services $102,645 · management and general $23,376

  • 10 · Payroll taxes

    total $72,397 · program services $63,890 · management and general $8,507

  • 11b · Fees: legal

    total $24,254 · program services $24,254

  • 11c · Fees: accounting

    total $33,060 · program services $31,135 · management and general $1,925

  • 11g · Fees: other

    total $497,182 · program services $381,185 · management and general $115,997

  • 12 · Advertising and promotion

    total $140,563 · program services $101,394 · management and general $39,169

  • 13 · Office expenses

    total $12,334 · program services $7,026 · management and general $5,308

  • 14 · Information technology

    total $46,839 · program services $37,442 · management and general $9,397

  • 16 · Occupancy

    total $54,871 · program services $38,410 · management and general $16,461

  • 17 · Travel

    total $57,613 · program services $40,394 · management and general $17,219

  • 19 · Conferences, conventions and meetings

    total $3,209 · management and general $3,209

  • 20 · Interest

    total $113,630 · program services $4,174 · management and general $109,456

  • 22 · Depreciation, depletion and amortization

    total $358,735 · program services $306,716 · management and general $52,019

  • 23 · Insurance

    total $21,286 · program services $17,297 · management and general $3,989

  • 24a · Other expenses: MISCELLANEOUS

    total $145,781 · program services $127,934 · management and general $17,847

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $96,000 · program services $96,000

  • 24c · Other expenses: LOAN EXPENSES

    total $12,072 · program services $12,072

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $9,269 · program services $9,269

  • 24e · All other expenses

    total $5,447 · program services $5,447

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,092,510 · end of year $8,905,782

  • 2 · Savings and temporary cash investments

    beginning of year $3,408,135 · end of year $159,035

  • 3 · Pledges and grants receivable

    beginning of year $131,798 · end of year $202,500

  • 4 · Accounts receivable

    beginning of year $6,675 · end of year $175,040

  • 7 · Other notes and loans receivable

    beginning of year $17,937,889 · end of year $12,814,079

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,393 · end of year $49

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

    $10,156,032

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

    $2,369,933

  • 10c · Land, buildings and equipment, net

    beginning of year $10,331,438 · end of year $7,786,099

  • 11 · Investments: publicly traded securities

    beginning of year $120,620 · end of year $297,402

  • 12 · Investments: other securities

    beginning of year $357,261

  • 14 · Intangible assets

    end of year $4,865

  • 15 · Other assets

    beginning of year $612,196 · end of year $1,104

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,864 · end of year $563,483

  • 19 · Deferred revenue

    beginning of year $950,000 · end of year $3,047,725

  • 23 · Secured mortgages and notes payable

    beginning of year $10,795,605 · end of year $8,447,701

  • 25 · Other liabilities

    beginning of year $990,529 · end of year $4,865

  • 27 · Net assets without donor restrictions

    beginning of year $9,794,890 · end of year $5,245,297

  • 28 · Net assets with donor restrictions

    beginning of year $15,406,027 · end of year $13,036,884

Mission and programs · 2022

Mission

TBDC WAS FOUNDED IN 1979 AS TULSA ECONOMIC DEVELOPMENT CORPORATION, AN ORGANIZATION CHARGED WITH PROMOTING AND SUSTAINING SMALL BUSINESS GROWTH IN TULSA.

Activities or mission (Part I)

TEDC WAS FOUNDED IN 1979 AS TULSA ECONOMIC DEVELOPMENT CORPORATION, AN ORGANIZATION CHARGED WITH PROMOTING AND SUSTAINING SMALL BUSINESS GROWTH IN TULSA.

  • TEDC RECEIVES FUNDING FROM THE U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT'S CDBG PROGRAM AS A CITY OF TULSA SUB-RECIPIENT, WHICH INCLUDES REIMBURSEMENTS FOR PROJECT DELIVERY COSTS.

    Expenses $1,328,305

  • TEDC RECEIVES FUNDING FROM THE U.S. DEPARTMENT OF THE TREASURY VIA THE CDFI RAPID RESPONSE PROGRAM FOR PROVIDING GRANTS TO DELIVER IMMEDIATE ASSISTANCE IN COMMUNITIES IMPACTED BY THE COVID-19 PANDEMIC. THE FUNDING INCLUDES REIMBURSEMENTS FOR PROJECT DELIVERY COSTS.

    Expenses $7,853

  • TEDC'S ENTREPRENEURIAL DEVELOPMENT AND EDUCATION NETWORK (EDEN) OFFERS IMMERSIVE COURSES DESIGNED TO PROVIDE INFORMATION, TIPS, EXERCISES AND TOOLS TO HELP INDIVIDUALS DEVELOP BUSINESS IDEAS.

    Expenses $143,251

  • Expenses $3,035,440 · Grants $2,243,309

As filed on the 2022 return.

Listed in Part VII

  • Greg Shaw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cindy Baker

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Gilbert Gerst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cassia Carr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Matt King

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Marilyn Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Shanann Passley

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Belkis Barrera Lane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kenneth Quigley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Gil Eacret

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Javier Gamarra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joyce McClellan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Casey Stowe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James Sanchez

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Troilo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rose Washington

    EXECUTIVE DIRECTOR

    Total calculated
    $233,462
    From this org
    $209,000
    From related orgs
    $0
    Other
    $24,462
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,000
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,462
    Filer's total
    $233,462

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

  • OA LL LLC

    LEVERAGE LENDER · OK · 95% owned · controlled entity

    Directly controlled by TULSA ECONOMIC DEVELOPMENT CORPORATION

  • OASIS GROCERY REALTY LLC

    REAL ESTATE DEVELOPER · OK · 100% owned · controlled entity

    Directly controlled by TULSA ECONOMIC DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
7 August 2024
IRS schema version
2022v5.0
Source object
202422229349301127

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