Tule River Economic Development Corporation
- Assets
- $5.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 9
- Location
- Porterville, CA
- Founding
- 07/1992
- Data as of
- 09/2021
- EIN
- 77-0262973
Organization Overview
Tule River Economic Development Corporation is located in Porterville, CA. The organization was established in 1992. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Tule River Economic Development Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tule River Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Tule River Economic Development Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $2.3m during the year ending 09/2021. While expenses have increased by 0.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AN ORGANIZATION TASKED WITH DEVELOPING JOBS AS WELL AS CREATING A DIVERSE REVENUE BASE TO BENEFIT THE PEOPLE OF THE TULE RIVER INDIAN RESERVATION AND THE SURROUNDING COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE, ORGANIZE, AND EXECUTE ECONOMIC DEVELOPMENT PROJECTS FOR THE TULE RIVER INDIAN TRIBE AND GIVE TRIBAL MEMBERS A PLACE FOR EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felix Christman Member | Trustee | 2 | $0 |
Gary Santos Member | Trustee | 2 | $0 |
William Garfield Member | Trustee | 2 | $0 |
Harold Santos Member | Trustee | 2 | $0 |
Kenneth Mcdarment Member | Trustee | 2 | $0 |
Neil Peyron Chairman | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,151 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $201,581 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $412,215 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,571,590 |
| Statement of Expenses | |
|---|---|
| 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. | $7,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $646,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $655,867 |
| Payroll taxes | $87,678 |
| Fees for services: Management | $130,592 |
| Fees for services: Legal | $62,573 |
| Fees for services: Accounting | $15,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,894 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $172,948 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,283,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $879,604 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,716 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $102,262 |
| Inventories for sale or use | $69,099 |
| Prepaid expenses and deferred charges | $29,505 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,655,443 |
| Accounts payable and accrued expenses | $100,952 |
| 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 | $6,439,174 |
| Total liabilities | $6,540,126 |
| Net assets without donor restrictions | -$5,380,940 |
| Net assets with donor restrictions | $4,496,257 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$884,683 |