Greater Phoenix Economic Council
- Assets
- $9.7m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 49
- Location
- Phoenix, AZ
- Founding
- 12/1991
- Data as of
- 06/2024
- EIN
- 86-0539979
Organization Overview
Greater Phoenix Economic Council is located in Phoenix, AZ. 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 06/2024, Greater Phoenix Economic Council employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Phoenix Economic Council 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 06/2024, Greater Phoenix Economic Council generated $8.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $8.2m during the year ending 06/2024. While expenses have increased by 6.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY24, GPEC WORKED WITH ITS STAKEHOLDERS AND MEMBER COMMUNITIES TO ATTRACT 49 COMPANIES TO THE MARKET, ADDING $513.96M IN INCREMENTAL PAYROLL, COMPRISING 7,431 PROJECTED NEW JOBS OF WHICH 3,987 WERE AT AN AVERAGE HIGH-WAGE OF $86,802. GPEC HAD 260 PROSPECTS, OF WHICH 70 WERE INTERNATIONAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Rousseau Chair | OfficerTrustee | 1 | $0 |
Derrick Hall Vice Chair | OfficerTrustee | 1 | $0 |
Tammy Mcleod Secretary | OfficerTrustee | 1 | $0 |
Ronald Butler Treasurer | OfficerTrustee | 1 | $0 |
Ed Aaronson Director | Trustee | 1 | $0 |
Megan Ackaert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $171,266 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,020,719 |
| Noncash contributions included in lines 1a–1f | $99,869 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,191,985 |
| Total Program Service Revenue | $3,433,059 |
| Investment income | $13,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,638,924 |
| 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. | $673,635 |
| Compensation of current officers, directors, key employees. | $134,727 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,598,025 |
| Pension plan accruals and contributions | $211,380 |
| Other employee benefits | $354,118 |
| Payroll taxes | $276,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,657 |
| Fees for services: Accounting | $26,269 |
| Fees for services: Lobbying | $39,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $433,381 |
| Advertising and promotion | $214,642 |
| Office expenses | $100,286 |
| Information technology | $238,131 |
| Royalties | $0 |
| Occupancy | $301,697 |
| Travel | $39,953 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $912,633 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,842 |
| Insurance | $32,428 |
| All other expenses | $0 |
| Total functional expenses | $8,228,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,575,333 |
| Savings and temporary cash investments | $1,508,086 |
| Pledges and grants receivable | $135,000 |
| Accounts receivable, net | $245,646 |
| 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 | $296,544 |
| Net Land, buildings, and equipment | $237,334 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,737,482 |
| Total assets | $9,735,425 |
| Accounts payable and accrued expenses | $1,183,871 |
| Grants payable | $0 |
| Deferred revenue | $11,500 |
| 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 | $2,968,969 |
| Total liabilities | $4,164,340 |
| Net assets without donor restrictions | $5,548,446 |
| Net assets with donor restrictions | $22,639 |
| 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 | $9,735,425 |