2024-11-20T08:54:31-06:00 2023-12-31 741699466 FITTS ROBERTS KOLKHORST & CO PC 5718 WESTHEIMER STE 1900 HOUSTON TX 77057 990 2023-01-01 743027286 HAS DEVELOPMENT CORPORATION HASD 8326462614 550 WESTCOTT 350 HOUSTON TX 77007 ADA SILVA C.F.O. AND ASSISTANT TREASURER 8326462614 2024-11-18 1 1 ROGER L DUNCAN CPA P01087367 7132605230 2024-11-18 2023 2024-10-15 13:58:12Z ADA SILVA 550 WESTCOTT 350 HOUSTON TX 77007 6600717 0 X WWW.HASDC.NET X 2001 TX THE ORGANIZATION SEEKS TO PROMOTE AIR TRANSPORTATION, TRADE, AND ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE HOUSTON AIRPORT SYSTEM AND TO PROVIDE SERVICES, SUCH AS AIRPORT TECHNICAL ADVISORY SERVICES AND PERSONNEL TRAINING, TO AIRPORTS AROUND THE WORLD. 3 2 3 0 0 0 0 0 1322858 1266250 2359248 5334467 2147 0 3684253 6600717 1995575 1042825 0 0 869377 1076932 0 0 0 863156 827015 3728108 2946772 -43855 3653945 19888772 23489645 161472 100909 19727300 23388736 THE ORGANIZATION SEEKS TO PROMOTE AIR TRANSPORTATION, TRADE, AND ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE HOUSTON AIRPORT SYSTEM AND TO PROVIDE SERVICES, SUCH AS AIRPORT TECHNICAL ADVISORY SERVICES AND PERSONNEL TRAINING, TO AIRPORTS AROUND THE WORLD. 0 0 123513 627250 TECHNICAL ADVISORY CONSULTING - THE ORGANIZATION GENERATES REVENUE BY PROVIDING AIRPORT TECHNICAL ADVISORY SERVICES BASED ON CONTRACTUAL ARRANGEMENTS. 477093 639000 MANAGEMENT CONTRACTS - THE ORGANIZATION PROVIDES AIRPORT SERVICES DESIGNED TO SUPPLY OPERATIONAL AND MANAGERIAL CONSULTING TO ITS CLIENTS. 1042825 1042825 HAMILTON SUNDSTRAND - TO PROMOTE GROWTH OF AEROSPACE INDUSTRY, INCREASE EMPLOYMENT AND PROMOTE ECONOMIC ACTIVITY IN HOUSTON 1643431 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 4 0 1 3 1 0 1 LU FR HO 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 1 0 X ADA SILVA 8326462614 550 WESTCOTT SUITE 350 HOUSTON TX 77007 MARIO DIAZ CHAIRMAN OF THE BOARD 0.50 X X 0 0 0 MICHAEL COX VICE CHAIRMAN 0.50 X X 0 0 0 ASTLEY BLAIR SECRETARY AND TREASURER 0.50 X X 0 0 0 ADA C SILVA CFO & ASSISTANT TREASURER 40.00 X 298125 0 0 AGUSTIN ARELLANO PRESIDENT & CEO 40.00 X 422219 0 0 EDUARDO IGLESIAS CHIEF LEGAL OFFICER & ASSISTANT SECRETARY 40.00 X 311825 0 0 1032169 0 0 3 0 1 0 ALVARO GONZALEZ CAMINO LAS ERMITAS 4297 LO BARNECHEA SANTIAGO CI AIRPORT MGMT CONSULTING 180000 1 MANAGEMENT CONTRACT FEES 900099 639000 639000 TECHNICAL ACTIVITIES REVENUES 900099 627250 627250 1266250 5334467 5334467 6600717 1266250 0 5334467 X 1042825 1042825 1032169 4369 1027800 44763 216 44547 24911 10000 14911 24625 24625 365706 365706 6466 6466 56185 56185 132204 132204 13389 13389 FOREIGN TAXES 56400 56400 FINANCE COSTS - SBLCS 52855 52855 OTHER EXPENSE - PROGRAM 31711 31711 WEBSITE MAINTENANCE 26402 26402 36161 36161 2946772 1643431 1303341 0 7353711 305893 5300556 15808745 90002 175777 4886 100 7034018 7107318 105599 91812 19888772 23489645 49140 23229 112332 77680 161472 100909 X 19727300 23388736 19727300 23388736 19888772 23489645 X 3653945 7491 X X 1 X 0 1 0 X X 1 HOUSTON AIRPORT SYSTEMCITY OF HOUSTON 746001164 6 1 1042825 0 1 1042825 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FORM 990, SCHEDULE A, PART IV, SECTION C, LINE 1 THE CORPORATE DOCUMENTS OF THE ORGANIZATION, AS WELL AS ITS CONTRACT WITH THE HOUSTON AIRPORT SYSTEM (THE SUPPORTED ORGANIZATION), GIVE CERTAIN EXTRAORDINARY POWERS TO THE DIRECTOR OF THE HOUSTON AIRPORT SYSTEM (THE SUPPORTED ORGANIZATION), WHO IS ALWAYS THE CHAIRMAN OF THE ORGANIZATION. AMONG THESE EXTRAORDINARY POWERS ARE THE REQUIREMENTS THAT HE APPROVE ANY CHANGE IN THE PURPOSE OF THE ORGANIZATION AND THE COMPOSITION OF THE BOARD OF DIRECTORS. FORM 990, SCHEDULE A, PART I, LINE 12G IN 2023, THE FOLLOWING PAYMENTS WERE MADE FOR THE BENEFIT OF HAS: - PARTIAL PAYMENT OF APPROVED GRANT TO HAMILTON SUNDSTRAND RELATED TO THE CONSTRUCTION OF A FACILITY AT HOUSTON SPACEPORT. THIS PROJECT IS DESIGNED TO PROMOTE GROWTH OF THE AEROSPACE INDUSTRY IN HOUSTON, INCREASE EMPLOYMENT, AND PROMOTE ECONOMIC ACTIVITY AND GROWTH OF THE CITY, $1,042,825 0 INVESTMENT IN OTHER ENTITIES 7107318 C 7107318 LEASE LIABILITY FOR OFFICE SPACE- CURRENT AND LONG TERM 77680 77680 X PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 513704 CENTRAL AMERICA AND THE CARIBBEAN 0 4 PROGRAM SERVICES TECHNICAL CONSULTING 393169 SOUTH AMERICA 0 0 INVESTMENTS 6585368 SOUTH AMERICA 0 0 PROGRAM SERVICES TECHNICAL CONSULTING EUROPE 0 0 INVESTMENTS 8246 EUROPE 0 0 CONDUCT BOARD/ADVISORY MEETINGS 16052 0 4 0 0 0 4 7516539 0 7516539 0 0 1 0 0 0 FORM 990, SCHEDULE F, PART I, LINE 3 - ACTIVITIES PER REGION REGION PROGRAM REVENUE EXPENDITURES INVESTMENTS CENTRAL AMERICA AND THE CARRIBEAN $908,000 $393,169 $513,704 SOUTH AMERICA $358,250 $ 0 $6,585,368 EUROPE $ 0 $ 16,052 $8,246 ACCOUNTING METHOD USED: ACCRUAL 1 HAMILTON SUNDSTRAND CORPORATION 2730 WEST TYVOLA ROAD FOUR COLISEUM CENTRE CHARLOTTE NC 28217 061543584 1042825 0 TO PROMOTE GROWTH OF THE AEROSPACE INDUSTRY IN HOUSTON AND SPECIFICALLY THE HOUSTON SPACEPORT, TO INCREASE EMPLOYMENT IN HOUSTON IN GENERAL AND SPECIFICALLY IN THE AEROSPACE INDUSTRY AND TO PROMOTE ECONOMIC ACTIVITY AND GROWTH IN HOUSTON. PART I, LINE 2: THE ORGANIZATION (HASDC) KEEPS DETAILED RECORDS OF THE APPROVED GRANTS AND AMOUNTS GIVEN. THE GRANT PROCESS IS TYPICALLY AS FOLLOWS: PROJECTS THAT ARE FOR THE BENEFIT OF THE HOUSTON AIRPORT SYSTEM (HAS) ARE FIRST PRESENTED TO HASDC'S CHAIRMAN OF THE BOARD, WHO IN TURN PRESENTS THEM TO THE OTHER BOARD MEMBERS. GRANT APPROVALS ARE SUBJECT TO HASDC'S OVERALL BUDGET NEEDS, INCLUDING EXPENDITURES, RESERVES AND LIABILITIES. AFTER THE BOARD GIVES ITS INITIAL CONSENT, THE LANGUAGE OF THE GRANT AGREEMENT DOCUMENT IS DISCUSSED/REVIEWED BY HASDC'S LEGAL COUNSEL AND MANAGEMENT, THE APPROPRIATE HAS PERSONNEL, AND GRANTEE. ONCE THE GRANT DOCUMENT IS FINALIZED, IT IS BROUGHT TO THE BOARD FOR FORMAL APPROVAL AS EVIDENCED IN THE MINUTES OF THE BOARD. THE FUNDS ARE DISBURSED ONLY AFTER HASDC RECEIVES THE APPROPRIATE DOCUMENTATION FROM THE GRANTEE AS REQUIRED BY THE GRANT AGREEMENT, AND WRITTEN APPROVAL CONFIRMATION FROM HAS MANAGEMENT IF REQUIRED. IF THE AMOUNT TO BE DISBURSED IS OVER $200,000, THIS MUST BE AUTHORIZED IN WRITING BY HASDC'S PRESIDENT AND BY THE FINANCE DIRECTOR. THE BOARD IS DUTIFULLY INFORMED OF THE STATUS OF THE GRANTS ON THE MANAGEMENT REPORTS. ALL DOCUMENTATION RELATED TO THE GRANTS IS CAREFULLY FILED AND MAINTAINED BY THE APPROPRIATE HASDC PERSONNEL. 1 X X 0 0 0 0 0 0 0 0 0 AGUSTIN ARELLANO PRESIDENT & CEO 351750 0 70469 0 0 0 0 0 0 0 422219 0 0 0 EDUARDO IGLESIAS CHIEF LEGAL OFFICER & ASSISTANT SECR 267750 0 44075 0 0 0 0 0 0 0 311825 0 0 0 ADA C SILVA CFO & ASSISTANT TREASURER 252000 0 46125 0 0 0 0 0 0 0 298125 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE FINANCE DIRECTOR PRIOR TO PRESENTATION TO THE BOARD OF DIRECTORS AND FILING WITH TAX AUTHORITIES. FORM 990, PART VI, SECTION B, LINE 12C WHEN THERE IS A POTENTIAL CONFLICT, CORPORATE COUNSEL OR AN OUTSIDE EXPERT IS ALERTED TO DETERMINE IF A CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS ADDRESSED IN AN EMPLOYMENT CONTRACT. TERMS OF THE CONTRACT, INCLUDING COMPENSATION, WERE NEGOTIATED BETWEEN THE ORGANIZATION'S BOARD OF DIRECTORS AND THE PRESIDENT. COMPARABILITY DATA WAS OBTAINED TO GUIDE THE BOARD IN DETERMINING COMPENSATION. OFFICERS PROVIDE SERVICES WITHIN THE TERMS OF A CONTRACT THAT IS APPROVED BY THE BOARD OF DIRECTORS. TWO OF THE THREE BOARD MEMBERS ARE INDEPENDENT. FORM 990, PART VI, SECTION C, LINE 19 SUBJECT DOCUMENTS ARE AVAILABLE UPON REQUEST. THEY ARE ALSO MADE AVAILABLE TO THE LIST TO WHOM THE FORM 990 IS GIVEN, THE BOARD OF DIRECTORS OF THE ORGANIZATION INCLUDING THE DIRECTOR OF AVIATION OF THE HOUSTON AIRPORT SYSTEM (THE ORGANIZATION'S BENEFICIARY AND SUPPORTED ORGANIZATION). FORM 990, PART IX, LINE 11G QUITO PROJECT EXPENSE:CONSULTING: PROGRAM SERVICE EXPENSES 23,630. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,630. HONDURAS PROJECT EXPENSES: CONSULTING : PROGRAM SERVICE EXPENSES 333,700. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 333,700. CONSULTING - BUS DEVELOP. - PROG SERV.: PROGRAM SERVICE EXPENSES 8,376. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,376. FORM 990, PART XI, LINE 9: P/Y EQUITY IN SUB - PREVIOUSLY REPORTED AS DEEMED DIV 40,266. ADD'L DEEMED DIVIDENDS REPORTING -32,774. ROUNDING -1. FORM 990, PART XII, LINE 2C: THE MANAGEMENT TEAM, WITH APPROVAL OF THE BOARD OF DIRECTORS, SELECTS THE INDEPENDENT ACCOUNTANT. THE FINANCE DIRECTOR OVERSEES THE REVIEW PROCESS AND APPROVES THE DRAFT BEFORE THE FINAL REPORT IS ISSUED. HOUSTON AIRPORT SYSTEMCITY OF HOUSTON PO BOX 60106 HOUSTON TX 77205 746001164 SUPPORTED TX GOVT LINE 6 N/A 0 SJO HOLDING LTD PO BOX 3340 ROAD TOWN TORTOLA BRITISH VIRGIN IS VQ HOLDING COMPANY VQ C 0.00710 0 CONCESSOC 1 12-14 RUE LOUIS BLERIOT RUEILMALMAISON FR HOLDING COMPANY FR C 0.00710 0 HAS DEVELOPMENT CORPORATION HONDURAS SA AVE LA PAZ 2702 FRANCISCO MORAZAN TEGUCIGALPA HO CONSULTING SERVICES HO C 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 SJO HOLDING LTD L 140000 ACTUAL AMOUNT CONCESSOC 1 L 140000 ACTUAL AMOUNT HASDC HONDURAS L 628000 ACTUAL AMOUNT HASDC HONDURAS Q 105804 ACTUAL AMOUNT