Greater Austin Economic Development Corporation Inc

Nonprofit profile at a glance

EIN
200192975
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Austin, TX, USA
Phone
5124789383
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$5,878,253
Expenses
$6,325,250
Assets
$2,854,813
Liabilities
$559,137

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • ED LATSON (PRESIDENT, SECRETARY & CEO)
  • STACY ALMGREN (SENIOR VICE PRESIDENT)
  • CHARISSE BODISCH (SENIOR VICE PRESIDENT)
  • BEVERLY KERR (VICE PRESIDENT, RESEARCH)

Highest reported compensation

  • ED LATSON (PRESIDENT, SECRETARY & CEO): $387,914 total reported compensation
  • CHARISSE BODISCH (SENIOR VICE PRESIDENT): $325,895 total reported compensation
  • STACY ALMGREN (SENIOR VICE PRESIDENT): $223,645 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Opportunity austin is a regional economic development initiative aimed at fostering job-creating investment across the austin and central Texas region.

What it reported doing in 2024

Opportunity austin invests in a portfolio of initiatives that support job creation, employability, and economic opportunities for all. It serves as a catalyst in the identification, evaluation, and pursuit of opportunities that promote and support:(1) an economy that is inclusive and innovative,(2) a workforce that is educated and employed, and(3) communities that are affordable and accessible.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 70
  • Accountability: 82
  • Sustainability: 18
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.6%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -40.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 25 of 25 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $388K · 31 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $649K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.