Nonprofit · EIN 74-2053921
TEXAS ECONMIC DEVELOPMENT COUNCIL INC
Tax-exempt · AUSTIN, TX 78701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,775,559 | $2,639,034 | $136,525 | $2,060,339 | $1,151 | $2,059,188 |
| December 31, 2023 | 990 | $2,627,993 | $2,122,695 | $505,298 | $1,924,721 | $2,058 | $1,922,663 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $57,819
- of which government grants
- $57,819
- Program service revenue
- $2,545,441
- Investment income
- $27,742
- Other revenue
- $144,557
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $726,177
- Salaries, compensation and benefits (total)
- $818,648
- Professional fundraising fees
- $0
- Legal fees
- $37
- Accounting fees
- $25,738
- Occupancy
- $118,149
- Travel
- $21,242
Balance sheet and other
- Total assets, start of year
- $1,924,721
- Total assets, end of year
- $2,060,339
- Total liabilities, end of year
- $1,151
- Net assets, end of year
- $2,059,188
- Net assets without donor restrictions
- $1,549,937
- Net assets with donor restrictions
- $509,251
- Gross receipts
- $2,775,559
- Employees
- 8
- Volunteers
- 0
- Year formed
- 1961
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARLTON SCHWAB | PRESIDENT Key employee | 40 | $277,115 |
| RAY DUNLAP | PAST CHAIR Trustee or director, Officer | 0.5 | $0 |
| ADRIAN CANNADY | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
| SUSAN GILL | BOARD CHAIR Trustee or director, Officer | 0.5 | $0 |
| KENT SHARP | INCOMING BOARD CHAIR Trustee or director, Officer | 0.5 | $0 |
| MISTY MAYO | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CARLTON SCHWAB | PRESIDENT Key employee | 40 | $255,016 |
| WESLEY BURNETT | PAST CHAIR Trustee or director, Officer | 0.5 | $0 |
| ADRIAN CANNADY | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
| RAY DUNLAP | BOARD CHAIR Trustee or director, Officer | 0.5 | $0 |
| SUSAN GILL | INCOMING BOARD CHAIR Trustee or director, Officer | 0.5 | $0 |
| KENT SHARP | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 919 CONGRESS AVE STE 1145, AUSTIN, TX 78701-2107
- Principal officer (990 for 2024)
- CARLTON SCHWAB, 919 CONGRESS AVE 1145, AUSTIN, TX 78701
- Signed the 990
- CARLTON SCHWAB, PRESIDENT
- Phone
- (512) 480-8432
- Website
- WWW.TEXASEDC.ORG
- Return prepared by
- MICHELLE MUSICK CPA
Mission
DEVELOPMENT OF ECONOMIC AND EMPLOYMENT OPPORTUNITIES IN TEXAS. TEDC PROVIDES INFORMATION EDUCATIONAL & LEGISLATIVE SERVICES TO ITS MEMBERS IN ORDER TO FOSTER EXPANSION OF EXISTING INDUSTRY LOCATION OF NEW FIRMS AND DEVELOPMENT OF STRATEGIES THAT PROMOTE A POSITIVE BUSINESS CLIMATE IN TEXAS.
Program accomplishments
- DEVELOPMENT OF ECONOMIC AND EMPLOYMENT OPPORTUNITIES IN TEXAS. TEDC PROVIDES INFORMATION EDUCATIONAL & LEGISLATIVE SERVICES TO ITS MEMBERS IN ORDER TO FOSTER EXPANSION OF EXISTING INDUSTRY LOCATION OF NEW FIRMS AND DEVELOPMENT OF STRATEGIES THAT PROMOTE A POSITIVE BUSINESS CLIMATE IN TEXAS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-2053921
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1980
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,060,339
- Income (IRS master file)
- $2,775,559
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,775,559 | $2,639,034 | $2,060,339 | IRS |
| 990 | December 2023 | $2,627,993 | $2,122,695 | $1,924,721 | XML |
| 990 | December 2022 | $2,054,832 | $2,265,545 | $1,417,760 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-2053921).
Questions about TEXAS ECONMIC DEVELOPMENT COUNCIL INC
- What is the EIN of TEXAS ECONMIC DEVELOPMENT COUNCIL INC?
- The employer identification number (EIN) of TEXAS ECONMIC DEVELOPMENT COUNCIL INC is 74-2053921.
- Is TEXAS ECONMIC DEVELOPMENT COUNCIL INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1980.
- Are donations to TEXAS ECONMIC DEVELOPMENT COUNCIL INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does TEXAS ECONMIC DEVELOPMENT COUNCIL INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TEXAS ECONMIC DEVELOPMENT COUNCIL INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TEXAS ECONMIC DEVELOPMENT COUNCIL INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TEXAS ECONMIC DEVELOPMENT COUNCIL INC?
- The 990 for the year ended December 31, 2024 names CARLTON SCHWAB.
- Who are the officers and directors of TEXAS ECONMIC DEVELOPMENT COUNCIL INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $277,115 (CARLTON SCHWAB, PRESIDENT).
- How much revenue does TEXAS ECONMIC DEVELOPMENT COUNCIL INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,775,559, expenses of $2,639,034 and total assets of $2,060,339 at year end.
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