Economic Development Coalition
- Assets
- $131.4k
- Revenue
- $227.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Temecula, CA
- Founding
- 10/1991
- Data as of
- 06/2022
- EIN
- 33-0428745
Organization Overview
Economic Development Coalition is located in Temecula, CA. The organization was established in 1991. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Economic Development Coalition employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Coalition is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Economic Development Coalition generated $227.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $195.0k during the year ending 06/2022. While expenses have increased by 11.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACTIVELY PROMOTE ECONOMIC DEVELOPMENT IN SOUTHWEST RIVERSIDE COUNTY WHILE WORKING WITH VARIOUS CITIES, THE COUNTY OF RIVERSIDE AND THE LOCAL CHAMBERS OF COMMERCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A CLEAR AND UNITED VOICE OF THE EDC'S ECONOMIC DEVELOPMENT EFFORTS. BE THE "ONE VOICE" ADVOCATE OF THE PUBLIC/PRIVATE SECTOR IN PURSUIT OF ECONOMIC GROWTH.
ESTABLISH, PROTECT, AND REFLECT HIGH STANDARDS OF QUALITY ECONOMIC DEVELOPMENT. STIMULATE AND ASSIST BUSINESS GROWTH, EXPAND JOB OPPORTUNITIES AND ENHANCE THE COMPETITIVE POSITION OF SOUTHWEST CALIFORNIA.
CREATE TASK FORCES NEEDED TO CARRY OUT ESSENTIAL ECONOMIC DEVELOPMENT ACTIVITIES. PROVIDE AND CULTIVATE THE LEADERSHIP NECESSARY TO SUSTAIN THE PUBLIC/PRIVATE PARTNERSHIP.
PROVIDE AND CULTIVATE THE LEADERSHIP NECESSARY TO SUSTAIN THE PUBLIC/PRIVATE PARTNERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Stopher Executive Director | Trustee | 40 | $92,995 |
Diane Strand 1st Vice President | Officer | 2 | $0 |
Terri Delhamer Secretary | Officer | 2 | $0 |
Matthew Hyatt 2nd Vice President | Officer | 2 | $0 |
Keith Krzewski President | Officer | 2 | $0 |
Adam Eventov Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $219,301 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,634 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,935 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $227,935 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $92,995 |
| Compensation of current officers, directors, key employees. | $92,995 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,440 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,167 |
| Payroll taxes | $7,526 |
| Fees for services: Management | $33,467 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,136 |
| Advertising and promotion | $14,700 |
| Office expenses | $0 |
| Information technology | $1,992 |
| Royalties | $0 |
| Occupancy | $3,523 |
| Travel | $1,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,025 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,707 |
| All other expenses | $5,423 |
| Total functional expenses | $195,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,112 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,467 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $797 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $131,376 |
| Accounts payable and accrued expenses | $5,949 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,374 |
| Total liabilities | $17,323 |
| Net assets without donor restrictions | $114,053 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $131,376 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Development Coalition has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Inland Empire Community Foundation Riverside, CA PURPOSE: Annual Distribution | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |