Economic Development Corporation- San Diego County
- Assets
- $2.8m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 20
- Location
- San Diego, CA
- Founding
- 07/1966
- Data as of
- 12/2021
- EIN
- 95-2406199
Organization Overview
Economic Development Corporation- San Diego County is located in San Diego, CA. The organization was established in 1966. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Economic Development Corporation- San Diego County employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Corporation- San Diego County 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 12/2021, Economic Development Corporation- San Diego County generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 0.4% 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 MAXIMIZE THE REGION'S ECONOMIC PROSPERITY AND GLOBAL COMPETITIVENESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REGIONAL SBDC LEAD CENTER, BASED AT SOUTHWESTERN COLLEGE, CONTRACTS WITH EDC TO COORDINATE COVID-19 CRISIS COMMUNICATIONS AND FACILITATE RECOVERY ASSISTANCE AND RESOURCES FOR SMALL BUSINESSES IMPACTED BY THE PANDEMIC. IN ADDITION, SBDC CONTRACTS WITH EDC/WTC TO PROVIDE EXPORT COUNSELING AND RESOURCES TO SMALL BUSINESSES.
THE CITIES OF CARLSBAD, ESCONDIDO, OCEANSIDE, SAN MARCOS, AND VISTA CONTRACT WITH EDC TO PROVIDE A COORDINATED ECONOMIC DEVELOPMENT EFFORT UNDER THE MARKETING BRAND INNOVATE78 TO PROMOTE BUSINESS EXPANSION, RETENTION AND ATTRACTION ALONG THE HIGHWAY 78 CORRIDOR.
THE CITY OF SAN DIEGO CONTRACTS WITH EDC TO PROVIDE BUSINESS RETENTION, AND EXPANSION SERVICES THROUGHOUT THE CITY. DURING THE PANDEMIC THE AGREEMENT ALSO INCLUDED AID AND RECOVERY COMMUNCATIONS TO ASSIST BUSINESSES. FINALLY, THE AGREEMENT SUPPORTS AN RESEARCH AND PROGRAMMING TO INCREASE ECONOMIC PROSPERITY AND OPPORTUNITIES FOR THE RESIDENTS OF THE REGION UNDER THE INCLUSIVE GROWTH INITIATIVE LED BY EDC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Cafferty President & CEO | OfficerTrustee | 40 | $375,823 |
Lauree Sahba COO | Officer | 40 | $254,651 |
Nikia Clarke VP Of Economic Development | 40 | $183,824 | |
Katherine Acquista Director Of Finance | 40 | $107,246 | |
Catherine Deyoung Executive Assistant | 40 | $105,388 | |
Janice Brown Immediate Past Chair | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,275,620 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $694,690 |
| All other contributions, gifts, grants, and similar amounts not included above | $347,843 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,318,153 |
| Total Program Service Revenue | $588,908 |
| Investment income | $3,124 |
| 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 | $3,922,544 |
| 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. | $703,665 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,559,261 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $201,017 |
| Payroll taxes | $83,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,271 |
| Advertising and promotion | $30,647 |
| Office expenses | $28,477 |
| Information technology | $49,013 |
| Royalties | $0 |
| Occupancy | $214,287 |
| Travel | $14,656 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,387 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,680 |
| Insurance | $20,985 |
| All other expenses | $7,829 |
| Total functional expenses | $3,291,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,958,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $826,035 |
| 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 | $11,950 |
| Net Land, buildings, and equipment | $45,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,842,251 |
| Accounts payable and accrued expenses | $493,700 |
| 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 | $0 |
| Total liabilities | $493,700 |
| Net assets without donor restrictions | $2,348,551 |
| 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 | $2,842,251 |
Grants Awarded
Over the last fiscal year, Economic Development Corporation- San Diego County has awarded $150,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Diego, CA PURPOSE: SPONSORSHIP NATIONAL GEOGRAPHIC SMART CITIES DOCUMENTARY UNDERWRITING | $100,000 |
Washington, DC PURPOSE: SUPPORT FOR THE METROPOLITAN POLICY PROGRAM | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Development Corporation- San Diego County has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Civic San Diego Economic Growth And Neighborhood Investment Fund San Diego, CA PURPOSE: TO HELP UNDERWRITE A PORTION OF SAN DIEGO ECONOMIC DEVELOPMENT CORPORATION'S ANCHOR INSTITUTION COLLABORATIVE. | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Los Angeles Tourism & Convention Board Los Angeles, CA | $19,187,650 | $21,164,251 |
Orange County Realtors Laguna Hills, CA | $11,666,397 | $12,107,704 |
Anaheim Area Visitor And Convention Bureau Anaheim, CA | $14,446,478 | $12,147,236 |
Metropolitan Tucson Convention And Visitors Bureau Tucson, AZ | $11,117,181 | $12,905,654 |
Visit Newport Beach Inc Newport Beach, CA | $8,210,060 | $9,447,693 |
Santa Barbara Conference And Visitors Bureau Santa Barbara, CA | $2,275,165 | $7,251,776 |
Arizona Association Of Realtors Phoenix, AZ | $41,549,602 | $11,298,614 |
Los Angeles Area Chamber Of Commerce Los Angeles, CA | $7,562,162 | $6,083,780 |
Sacramento Convention And Visitors Bureau Sacramento, CA | $12,491,564 | $12,454,571 |
Greater Las Vegas Chamber Of Commerce Inc Las Vegas, NV | $11,964,032 | $6,654,752 |
Engineering & Utility Contractors Association San Ramon, CA | $6,057,921 | $5,434,926 |
Better Business Bureau Inc San Leandro, CA | $5,371,959 | $5,607,401 |