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 | 2024-11-22 |
| April Castaneda | Director of Business Development | | 2024-11-22 |
| Michelle Garcia | Digital Communications Manager | | 2024-11-22 |
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 |
|---|
| East County Economic Development Council | 501(c)(6) | El Cajon, CA | $8,422,937 |
| Lenawee Economic Development Corp | 501(c)(6) | Adrian, MI | $3,488,446 |
| Hawthorn Foundation | 501(c)(6) | Jefferson City, MO | $6,431,095 |
| Central Oklahoma Economic Development District (COEDD) | 501(c)(3) | Shawnee, OK | $5,906,012 |
| Northern Kentucky Area Developement District (NKADD) | 501(c)(3) | Florence, KY | $36,222,495 |
| Grow Capital Jobs Foundation | 501(c)(3) | Richmond, VA | $2,758,612 |
| Clarke County Development Corporation | 501(c)(6) | Osceola, IA | $2,714,982 |
| Marble Falls Economic Development Corporation | 501(c)(6) | Marble Falls, TX | $4,619,622 |
| Orange Economic Development Corporation | 501(c)(3) | Orange, TX | $3,267,974 |
| Southeast Ark Economic Development District | 501(c)(3) | Pine Bluff, AR | $6,406,237 |
Data update history
November 22, 2024
Updated personnel
Identified 2 new personnel
May 23, 2024
Posted financials
Added Form 990 for fiscal year 2023
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
Nonprofit Types
Grantmaking organizationsPublic 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/
- Phone
- (956) 969-0838
- Facebook page
- WeslacoEDC
- Twitter profile
- @weslacoedc
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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