Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1981.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
14 people listed on the 990; $215K paid to officers and key staff.
Rose Washington’s $215K as Executive Director is at the 37th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Rose Washington | $215,000 | $153,875 | $209,000 | $185,000 | $180,000 | $160,000 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Helps Tulsa's small businesses grow and thrive.
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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.
Saving Our Homes Initiative (sohi)
Sohi is a short-term program developed in collaboration with the city of tulsa to assist in clearing home titles or paying property tax (up to $4,000) for eligible low income households across the city of tulsa. Tedc connects households with tfec who offers free financial conseling sessions to improve financial outcomes.
Sba Microloans
Tedc has borrowed funds from the small business administration (sba) at below market interest rates. Tedc loans the funds to qualifying businesses at market rates of interest and is liable for the loans from the sba regardless of whether the loan participant repays the loan.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $8.9M | $10.2M |
| InvestmentsLn 11–13 | $326K | $334K |
| Land, buildings, equipmentLn 10c | $8.3M | $13.0M |
| Total assetsLn 16 | $41.5M | $54.9M |
| LiabilitiesLn 26 | $12.1M | $14.0M |
| Net assetsLn 32 | $29.5M | $40.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $193K | $193K | ||
| Pay of current officers, directors and key staffLn 5 | $239K | $181K | $58K | |
| Other salaries and wagesLn 7 | $861K | $755K | $106K | |
| Pension plan contributionsLn 8 | $21K | $21K | ||
| Other employee benefitsLn 9 | $93K | $71K | $22K | |
| Payroll taxesLn 10 | $78K | $59K | $19K | |
| Legal feesLn 11b | $300 | $300 | ||
| Accounting feesLn 11c | $80K | $80K | ||
| Other fees for servicesLn 11g | $238K | $127K | $111K | |
| Advertising and promotionLn 12 | $35K | $27K | $8K | |
| Office expensesLn 13 | $28K | $21K | $6K | |
| Information technologyLn 14 | $50K | $41K | $9K | |
| OccupancyLn 16 | $76K | $53K | $23K | |
| TravelLn 17 | $59K | $42K | $18K | |
| Conferences, conventions and meetingsLn 19 | $780 | $780 | ||
| InterestLn 20 | $131K | $22K | $109K | |
| Depreciation, depletion and amortizationLn 22 | $336K | $291K | $45K | |
| InsuranceLn 23 | $23K | $18K | $4K | |
| Other expenses (24a–d)Ln 24 | $483K | $471K | $12K | |
| All other expensesLn 24e | −$28 | −$28 | ||
| Total functional expensesLn 25 | $3.0M | $2.5M | $551K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $14.3M | $3.1M | $11.2M | $29.5M | 990 PDF |
| FY2023 | $5.0M | $5.0M | −$33K | $18.3M | 990 PDF |
| FY2022 | $6.2M | $3.4M | $2.7M | $25.2M | 990 PDF |
| FY2021 | $33.0M | $55.4M | −$22.5M | $22.5M | 990 PDF |
| FY2020 | $37.2M | $7.1M | $30.1M | $44.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $14,471,175 revenue, 12 lines filed
Part VI · Governance 13 of 13 board members independent, no flags
Part VIII · Statement of revenue $14,471,175 across 9 lines filed
Part IX · Statement of functional expenses $3,024,030 across 20 lines filed
Part X · Balance sheet $54,942,497 assets, 16 lines filed
Part XI · Reconciliation of net assets $40,942,919 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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