Tulsa Economic Development

“Line 11b explanation - preparation of the organization's form 990 is entrusted to a professional cpa firm. The form is then reviewed by the organization's accounting manager and, at times, another cpa for quality control. Then the executive director approves the form if it is not substantially different from the annual audit approved by the board of directors.”

“Executive director requires board members and staff to annually review, acknowledge, and execute conflict of interest policy and ensures that there is no actual or appearance of a conflict of interest.”

“The board of directors' personnel committee performs an annual process for determining compensation of the executive director and other key employees. This annual process includes an evaluation of employees' performance and the use of comparability data to make compensation recommendations to the board. The personnel committee documents how it arrived at its recommendations.”

“Tedc's fiscal and tax year-end is september 30. A third party preparer with assistance from the administrative operations director shall complete and file accurate returns. (filings shall include but are not limited to, the form 990, w-2's and 1099's.) a draft of tedc's annual form 990 information return shall be reviewed by the accountant and approved by the executive director if not substantially different from the annual audit approved by the board of directors.”

“Saving our homes initiative (sohi) - sohi is a short-term program developed in collaboration with the city of tulsa to assist in clearing home titles or paying property tax (up to $4,000) for eligible low income households across the city of tulsa. Tedc connects households with tfec who offers free financial conseling sessions to improve financial outcomes. Small business credit initiative (ssbci)/oklahoma business lending partership (oblp) - the oblp is a collaboration between the oklahoma center for the advancement of science and technology (ocast) and tedc creative capital (tedc) to expand access to capital for oklahoma businesses through the u.s. Treasury's state small business credit initiative (ssbci) administered by ocast. The priorities of oblp align with the state of oklahoma's science and innovation strategy, which includes increasing the number of new technologies and start-ups aligned with oklahoma's three targeted sectors: biotech/life sciences; aerospace, autonomous systems, and defense; and energy diversification, including oil and gas. While supply chain businesses that support this strategy receive preference, most other oklahoma enterprises are eligible for oblp funding and are encouraged to apply.”

“NO CHANGE IN PROCESS.”