Form 990 for tax year 2023
Filed by ECONOMIC DEVELOPMENT CORPORATION- SAN DIEGO COUNTY.
Totals
- Total revenue
- $3,999,265
- Total expenses
- $3,988,637
- Contributions and grants received
- $2,783,643
- Grants paid
- $0
- Program service revenue
- $1,034,346
- Investment income
- $62,762
- Other revenue
- $118,514
- Total assets, end of year
- $3,922,793
- Total liabilities, end of year
- $1,540,152
- Net assets or fund balances, end of year
- $2,382,641
- Program services expenses (Part IX)
- $3,411,018
- Management and general expenses
- $577,619
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,411,018
Program services were 85.5% 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
$2,783,643
-
1g · Noncash contributions included above
$37,219
-
2a · Program service revenue: CONTRACTS
total $1,034,346 · related or exempt $1,034,346
-
3 · Investment income
total $62,762 · excluded $62,762
-
8a · Fundraising events: gross income
$491,088
-
8b · Fundraising events: direct expenses
$375,760
-
8c · Net income from fundraising events
total $115,328 · excluded $115,328
-
11a · Other revenue: OTHER
total $3,186 · related or exempt $3,186
-
11e · Other revenue, total
$3,186
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $988,758 · program services $860,220 · management and general $128,538
-
7 · Other salaries and wages
total $1,606,189 · program services $1,397,385 · management and general $208,804
-
9 · Other employee benefits
total $315,388 · program services $274,388 · management and general $41,000
-
10 · Payroll taxes
total $166,967 · program services $145,260 · management and general $21,707
-
11b · Fees: legal
total $5,618 · program services $4,213 · management and general $1,405
-
11c · Fees: accounting
total $46,493 · program services $34,870 · management and general $11,623
-
11f · Fees: investment management
total $3,924 · management and general $3,924
-
11g · Fees: other
total $45,824 · program services $34,368 · management and general $11,456
-
13 · Office expenses
total $64,320 · program services $32,160 · management and general $32,160
-
16 · Occupancy
total $289,884 · program services $252,199 · management and general $37,685
-
17 · Travel
total $126,099 · program services $94,574 · management and general $31,525
-
19 · Conferences, conventions and meetings
total $56,792 · program services $49,409 · management and general $7,383
-
22 · Depreciation, depletion and amortization
total $20,364 · program services $10,182 · management and general $10,182
-
23 · Insurance
total $34,173 · program services $29,731 · management and general $4,442
-
24a · Other expenses: CORE PROGRAMMING/INITIA
total $80,005 · program services $80,005
-
24b · Other expenses: RESEARCH
total $70,133 · program services $70,133
-
24c · Other expenses: GLOBAL MARKETING
total $22,639 · program services $22,639
-
24d · Other expenses: TELEPHONE
total $18,686 · program services $16,257 · management and general $2,429
-
24e · All other expenses
total $26,381 · program services $3,025 · management and general $23,356
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,004,227 · end of year $207,144
-
2 · Savings and temporary cash investments
beginning of year $1,268,467 · end of year $1,285,533
-
4 · Accounts receivable
beginning of year $484,623 · end of year $486,339
-
9 · Prepaid expenses and deferred charges
beginning of year $39,869 · end of year $28,721
-
10a · Land, buildings and equipment: cost or other basis
$111,820
-
10b · Land, buildings and equipment: accumulated depreciation
$59,956
-
10c · Land, buildings and equipment, net
beginning of year $72,228 · end of year $51,864
-
12 · Investments: other securities
end of year $771,485
-
15 · Other assets
beginning of year $0 · end of year $1,091,707
-
17 · Accounts payable and accrued expenses
beginning of year $498,587 · end of year $454,994
-
25 · Other liabilities
beginning of year $0 · end of year $1,085,158
-
27 · Net assets without donor restrictions
beginning of year $370,827 · end of year $382,641
-
28 · Net assets with donor restrictions
beginning of year $2,000,000 · end of year $2,000,000
Mission and programs · 2023
Mission
TO MAXIMIZE THE REGION'S ECONOMIC PROSPERITY AND GLOBAL COMPETITIVENESS.
-
THE REGIONAL SBDC LEAD CENTER, BASED AT SOUTHWESTERN COLLEGE, CONTRACTS WITH EDC TO COORDINATE AND FACILITATE RECOVERY ASSISTANCE AND RESOURCES FOR SMALL BUSINESSES. IN ADDITION, SBDC CONTRACTS WITH EDC/WTC TO PROVIDE EXPORT COUNSELING AND RESOURCES TO SMALL BUSINESSES.THE CITY OF SAN DIEGO CONTRACTS WITH EDC TO PROVIDE BUSINESS RETENTION, AND EXPANSION SERVICES THROUGHOUT THE CITY. IT ALSO SUPPORTS EDC AFFLIATE WORLD TRADE CENTER SAN DIEGO'S METROCONNECT PROGRAM TO HELP SMALL BUSINESS BUILD EXPORTS, FACILITATE FOREIGN DIRECT INVESTMENT AND ORGANIZE TRADE MISSIONS.
Expenses $3,411,018
As filed on the 2023 return.
Listed in Part VII
-
Mark CaffertyMARK CAFFERTY
PRESIDENT & CEO
- Total calculated
- $436,958
- From this org
- $436,958
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $346,964
- Bonus
- $0
- Other
- $89,994
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $436,958
-
Heather AceHEATHER ACE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Nelson AckerlyNELSON ACKERLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Chris AmbleCHRIS AMBLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kimberly BeckerKIMBERLY BECKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Neil BenceNEIL BENCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert BlairROBERT BLAIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Linden BlueLINDEN BLUE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Steve BrassSTEVE BRASS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kimberly BrewerKIMBERLY BREWER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Bob BrowerBOB BROWER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Janice BrownJANICE BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Debora BurkeDEBORA BURKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Malin BurnhamMALIN BURNHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Tiago CarneiroTIAGO CARNEIRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Rho Cauley BrunerRHO CAULEY BRUNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
David CherashoreDAVID CHERASHORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Clifford ChoCLIFFORD CHO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Adela De La TorreADELA DE LA TORRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Dan DenhamDAN DENHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Dennis DoucetteDENNIS DOUCETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mark FieldMARK FIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jane FinleyJANE FINLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Alison FleuryALISON FLEURY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Bruce FolkmannBRUCE FOLKMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Patricio FriasPATRICIO FRIAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Yehudi GaffenYEHUDI GAFFEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Laura GarrettLAURA GARRETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Carlos GonzalezCARLOS GONZALEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
James HarrisJAMES HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Daniel HedstromDANIEL HEDSTROM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ingo HentschelINGO HENTSCHEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Eric IckeERIC ICKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jason JagerJASON JAGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Keith B JonesKEITH B JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Pradeep KhoslaPRADEEP KHOSLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
June KomarJUNE KOMAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jake LeachJAKE LEACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kathryn LemboKATHRYN LEMBO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Shelley LyfordSHELLEY LYFORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Sheldon LynSHELDON LYN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Laura MacneelLAURA MACNEEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Anne MarbargerANNE MARBARGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Sandra McDonoughSANDRA MCDONOUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mark MillironMARK MILLIRON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Juli MoranJULI MORAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Tracy MurphyTRACY MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mike NealMIKE NEAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ellen NeufeldtELLEN NEUFELDT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Deborah NguyenDEBORAH NGUYEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Grant OliphantGRANT OLIPHANT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kevin PegelsKEVIN PEGELS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Karen ReinhardtKAREN REINHARDT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Matthew ReelMATTHEW REEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Manuel RodriguezMANUEL RODRIGUEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Daniel RyanDANIEL RYAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Aaron RyanAARON RYAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Puneet SarinPUNEET SARIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mark StuartMARK STUART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Steven StuckeySTEVEN STUCKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Colton SudberryCOLTON SUDBERRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Peter TownshendPETER TOWNSHEND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Thomas TurnerTHOMAS TURNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ray VarelaRAY VARELA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Siddhartha VivekSIDDHARTHA VIVEK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Chris WilliamsCHRIS WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Derrick YorkDERRICK YORK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
David Thomas JrDAVID THOMAS JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Pete TownshendPETE TOWNSHEND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Tom TurnerTOM TURNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kamni VijayKAMNI VIJAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Sidd VivekSIDD VIVEK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Barbara WightBARBARA WIGHT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Chris WilliamsCHRIS WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jennie BrooksJENNIE BROOKS
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 40
-
Barbara WightBARBARA WIGHT
SECRETARY
- Total calculated
- $0
- Hours/week
- 40
-
Thomas SeidlerTHOMAS SEIDLER
TREASURER
- Total calculated
- $0
- Hours/week
- 40
-
Rob DouglasROB DOUGLAS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 40
-
Lisette IslasLISETTE ISLAS
VICE CHAIR, INCLUSIVE GROWTH
- Total calculated
- $0
- Hours/week
- 40
-
Lauree SahbaLAUREE SAHBA
COO
- Total calculated
- $318,800
- From this org
- $318,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $285,500
- Bonus
- $0
- Other
- $33,300
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $318,800
-
Nikia ClarkNIKIA CLARK
SENIOR VICE PRESIDENT
- Total calculated
- $233,000
- From this org
- $233,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $205,000
- Bonus
- $0
- Other
- $28,000
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $233,000
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
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 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
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 22 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202422399349301337
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