Program areas at Economic Development Corporation of Weslaco
Economic Development is the purposeful intervention by an entity to encourage private investment in a specific location when it otherwise might not have been made. That encouragement often represents public assistance with a financial value and is popularly referred to as an incentive or inducement. Edc provides loans/ grants to various businesses for creating of jobs through recruiting new industry and/or existing companies relocating and/or expanding.
Promotion and Development: community workforce training of $6,916 and general advertisement to attract visitors to the city of Weslaco business district and industrial park.
Property management - maintenance of industrial park buildings, roadways, signs and city's infrastructure maintenance and landscaping, including depreciation expense of $148,578
Grants made by Economic Development Corporation of Weslaco
Personnel at Economic Development Corporation of Weslaco
| Name | Title | Compensation | Date of data |
|---|
| Steven M Valdez | Executive Director | $78,546 | 2024-04-15 |
| April Castaneda | Director of Business Development | | 2023-01-27 |
| Michelle Garcia | Digital Communications Manager | | 2023-01-27 |
| Maria Cisneros | Manager Retail Recruitment and Commercial Real Estate | | 2023-01-27 |
| Fred Perez | Secretary | $0 | 2023-09-30 |
| ...and 6 more key personnel |
Financials for Economic Development Corporation of Weslaco
| Revenues | FYE 09/2023 | FYE 09/2022 | % Change |
|---|
| Total grants, contributions, etc. | $1,500,000 | $0 | 999% |
| Program services | $5,154,115 | $4,788,959 | 7.6% |
| Investment income and dividends | $237,805 | $111,307 | 113.6% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $1,103,219 | $0 | 999% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $564,243 | $56,324 | 901.8% |
| Total revenues | $8,559,382 | $4,956,590 | 72.7% |
Organizations like Economic Development Corporation of Weslaco
| Organization | Type | Location | Revenue |
|---|
| Economic Development Partnership | 501(c)(6) | Aiken, SC | $4,891,813 |
| Lenawee Economic Development Corp | 501(c)(6) | Adrian, MI | $3,488,446 |
| Cheyenne Leads | 501(c)(6) | Cheyenne, WY | $5,161,104 |
| Madison Region Economic Partnership | 501(c)(6) | Madison, WI | $8,071,010 |
| Scoped | 501(c)(6) | Watkins Glen, NY | $2,641,008 |
| Marble Falls Economic Development Corporation | 501(c)(6) | Marble Falls, TX | $6,358,572 |
| Historic Downtown Los Angeles Business Improvement District Property Owners | 501(c)(6) | Los Angeles, CA | $2,795,778 |
| Clarke County Development Corporation | 501(c)(6) | Osceola, IA | $3,462,351 |
| Indiana County Development Corporation | 501(c)(6) | Indiana, PA | $2,450,089 |
| Brownsville Economic Development Council (BEDC) | 501(c)(6) | Brownsville, TX | $7,255,230 |
Data update history
May 20, 2024
Updated personnel
Identified 1 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 18, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 11, 2022
Posted financials
Added Form 990 for fiscal year 2020
March 15, 2022
Updated personnel
Identified 2 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizations
Issues
Community improvementEconomic development
Characteristics
State / local levelReceives government funding
General information
- Address
- 275 S Kansas Blvd
- Weslaco, TX 78596
- Metro area
- McAllen-Edinburg-Mission, TX
- County
- Hidalgo County, TX
- Website URL
- weslacoedc.com/Â
- Phone
- (956) 969-0838
- Facebook page
- WeslacoEDCÂ
- Twitter profile
- @weslacoedcÂ
IRS details
- EIN
- 74-2588704
- Fiscal year end
- September
- Taxreturn type
- Form 990
- Year formed
- 1990
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- S30: Economic Development
- NAICS code, primary
- 926110: Economic Development Corporations and Economic Program Organizations
- Parent/child status
- Independent
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