San Antonio Economic Development FY2023 filing

Not tax-deductible

San Antonio, TX501(c)(6)Since 1965EIN 74-1536482

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The mission of the San Antonio Economic Development foundation (saedf) is to lead the Development and diversification of San Antonio regional economy through the recruitment and expansion of quality employers and job producing investments.

71¢ of each $1 spent went to programs.
$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $216K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 27% of spending
Worth a look: pay to officers and key staff is 27% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 25 voting members
Looks good: 24 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.3M
-11% vs prior year
Spent
$6.5M
To programs
71%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$5.3M
FY2023▼ -11%
Revenue by fiscal year
FY2020$3.4M
FY2021$6.9M
FY2022$6.0M
FY2023$5.3M
FY2024$6.0M
Expenses
$6.5M
FY2023▲ +15%
Expenses by fiscal year
FY2020$2.9M
FY2021$4.7M
FY2022$5.6M
FY2023$6.5M
FY2024$6.7M
Net assets
$2.2M
FY2023▼ -35%
Net assets by fiscal year
FY2020$799K
FY2021$3.0M
FY2022$3.3M
FY2023$2.2M
FY2024$1.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1972.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $4.6M Management & general 22% · $1.4M Fundraising 7% · $450K

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

33 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$404,894Pt VII · Sec A
Chief Economic Development Offcr
$261,070Pt VII · Sec A
Chief Brand & Communications Ofcr
$203,905Pt VII · Sec A
Chief Admin Ofc
$178,083Pt VII · Sec A
$172,934Pt VII · Sec A
$155,900Pt VII · Sec A
$145,490Pt VII · Sec A
$119,642Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jenna Saucedo-Herrera$436,800$404,894$349,375$334,991$343,750
Sarah Rush$291,083$261,070$260,422——
Cecilia Redmond$228,067$203,905———
Carmen Lara$189,885$178,083$158,540$142,500$132,425
Amber Gilbert$185,600$172,934$142,296——
Tom Long——$178,357$178,060$185,514
Ashley Gossen$185,513$155,900$123,383$100,585—
Sarah Morales$161,400$145,490$130,679——

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

Attracts and expands businesses to create jobs and diversify the regional economy.

Provided by the organization

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1 program · $4.6M · in their own filed words · FY2023
01

Greater

Satx is a private, nonprofit organization that assists business and industry in locating and expanding into the san antonio REGION.GREATER:SATX is supported by its public partners and more than 200 private sector investors.

$4.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.3M
Ln 12
Gifts and grantsLn 1h$3.3M
Fees for servicesLn 2g$1.9M
Other incomeLn 4–11$187K
Money outPt IX
$6.5M
Ln 25
Programscol B$4.6M
Managementcol C$1.4M
Fundraisingcol D$450K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$3.9M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
33
listed · VII A
PaidVII A9
Voting boardVI 1a25
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.3M
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$5K
Other incomeLn 4–11$187K
Gains on assetsLn 7$0
Total revenueLn 12$5.3M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$365K
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$191K
Other assetsLn 15$510K
Total assetsLn 16$3.9M
LiabilitiesLn 26$1.7M
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 519
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.6M$1.4M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$238K$191K
Total assetsLn 16$5.4M$3.9M
LiabilitiesLn 26$2.1M$1.7M
Net assetsLn 32$3.3M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$1.1M$776K$233K$100K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.8M$1.2M$372K$159K
Pension plan contributionsLn 8$137K$96K$29K$12K
Other employee benefitsLn 9$182K$127K$38K$16K
Payroll taxesLn 10$209K$146K$44K$19K
Management feesLn 11a$0
Legal feesLn 11b$12K$10K$3K
Accounting feesLn 11c$25K$19K$6K
Lobbying feesLn 11d$50K$46K$4K
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$451K$21K$389K$41K
Advertising and promotionLn 12$1.4M$1.4M
Office expensesLn 13$36K$29K$5K$2K
Information technologyLn 14$201K$173K$28K
RoyaltiesLn 15$0
OccupancyLn 16$158K$133K$19K$6K
TravelLn 17$487K$409K$29K$49K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$129K$116K$13K
InterestLn 20$702$695$7
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$81K$65K$12K$4K
InsuranceLn 23$16K$16K$162
Other expenses (24a–d)Ln 24$42K$42K$699
All other expensesLn 24e$0
Total functional expensesLn 25$6.5M$4.6M$1.4M$450K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.0M$6.7M−$731K$1.4M 990 PDF
FY2023 Viewing $5.3M$6.5M−$1.1M$2.2M 990 PDF
FY2022 $6.0M$5.6M$356K$3.3M 990 PDF
FY2021 $6.9M$4.7M$2.2M$3.0M 990 PDF
FY2020 $3.4M$2.9M$442K$799K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $5,332,245 across 11 lines filed
VIII-1b Membership dues$3,163,081
VIII-1f All other contributions, gifts and grants$106,000
VIII-1h Total contributions, gifts and grants$3,269,081
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,871,663$1,871,663
VIII-3 Investment incomeExcluded from tax $4,617$4,617
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $185,383 · Excluded from tax $1,501$186,884
VIII-12 Total revenueRelated to mission $2,057,046 · Excluded from tax $6,118$5,332,245
Part IX · Statement of functional expenses $6,479,559 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $775,581 · Management $232,674 · Fundraising $99,717$1,107,972
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $1,238,926 · Management $371,678 · Fundraising $159,291$1,769,895
IX-8 Pension plan contributionsPrograms $95,577 · Management $28,673 · Fundraising $12,288$136,538
IX-9 Other employee benefitsPrograms $127,102 · Management $38,131 · Fundraising $16,342$181,575
IX-10 Payroll taxesPrograms $146,345 · Management $43,903 · Fundraising $18,815$209,063
IX-11a Management fees$0
IX-11b Legal feesManagement $9,562 · Fundraising $2,856$12,418
IX-11c Accounting feesManagement $18,877 · Fundraising $5,638$24,515
IX-11d Lobbying feesManagement $45,500 · Fundraising $4,500$50,000
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $20,817 · Management $389,354 · Fundraising $40,567$450,738
IX-12 Advertising and promotionPrograms $1,385,158$1,385,158
IX-13 Office expensesPrograms $28,608 · Management $5,205 · Fundraising $2,058$35,871
IX-14 Information technologyManagement $173,088 · Fundraising $28,002$201,090
IX-15 Royalties$0
IX-16 OccupancyPrograms $132,766 · Management $18,967 · Fundraising $6,322$158,055
IX-17 TravelPrograms $409,495 · Management $28,824 · Fundraising $48,702$487,021
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $116,098 · Management $12,900$128,998
IX-20 InterestPrograms $695 · Management $7$702
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $64,828 · Management $12,086 · Fundraising $4,417$81,331
IX-23 InsurancePrograms $16,078 · Management $162$16,240
IX-24 Other expenses (24a–d)Programs $41,680 · Management $699$42,379
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $4,599,754 · Management $1,430,290 · Fundraising $449,515$6,479,559
Part X · Balance sheet $3,889,846 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $1,263,339$1,007,262
X-2 Savings and temporary cash investmentsStart of year $357,322$364,606
X-3 Pledges and grants receivableStart of year $1,310,717$880,358
X-4 Accounts receivableStart of year $1,571,024$868,258
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$68,251
X-10c Land, buildings and equipment, netStart of year $237,828$190,783
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $659,864$510,328
X-16 Total assetsStart of year $5,400,094$3,889,846
X-17 Accounts payable and accrued expensesStart of year $1,226,310$1,043,401
X-19 Deferred revenueStart of year $9,833$7,500
X-25 Other liabilitiesStart of year $849,414$671,722
X-26 Total liabilitiesStart of year $2,085,557$1,722,623
X-27 Net assets without donor restrictionsStart of year $3,314,537$2,167,223
X-32 Total net assets or fund balancesStart of year $3,314,537$2,167,223
X-33 Total liabilities and net assetsStart of year $5,400,094$3,889,846
Part XI · Reconciliation of net assets $2,167,223 net assets at year end
XI-1 Total revenue$5,332,245
XI-2 Total expenses$6,479,559
XI-3 Revenue less expenses−$1,147,314
XI-4 Net assets at start of year$3,314,537
XI-10 Net assets at end of year$2,167,223

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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