Solano Economic Development Corporation

Nonprofit profile at a glance

EIN
942912759
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Fairfield, CA, USA
Phone
7078641855
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$12,310
Expenses
$4,624
Assets
$46,048
Liabilities
$0

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

Leadership & pay

48 people listed

Executive titles in this filing

  • Chris Rico (President / CEO)

People named in this filing

  • Chris Rico (President / CEO)
  • Kevin Miller (Chairman)
  • Kelley Jaeger-Jackson (Vice-Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The mission of Solano Economic Development Corporation is to enhance the economic vitality and quality of life of Solano County and its seven communities.

What it reported doing in 2024

Spearheaded the development of comprehensive ADU homeowner resources, including a website and other materials and technical Assistance 5,000 people were served

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 82
  • Sustainability: 86
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.5%; rating input score 31
  • Program expense ratio: 85%; rating input score 85

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 62.4%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 9.96; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -127.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -84% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 31.5% of revenue deployed · 85% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $0 · 48 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.