Civic Intelligence

Edinburg Economic Development Corporation

990 • Fiscal year 2021 • EIN 74-2609452

Oct 01, 2020 to Sep 30, 2021 • Filed on May 04, 2021

Organization ProfileCITYOFEDINBURG.COM
415 W University DrEdinburg, TX 78540

(956) 388-8207

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.75x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

5.41x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Source year 2021

Net Margin

78th percentile

43%

Higher net margin than 78% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

16th percentile

$0

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • $50M-$100M nonprofits • Source year 2021

Asset Growth

95th percentile

67%

Faster asset growth than 95% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

56th percentile

15%

Faster revenue growth than 56% of similar nonprofits.

2021 filings • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$67,135,031

Up $27,016,310 (+67%) from 2020

Net Assets

Up

$16,899,516

Up $4,596,725 (+37%) from 2020

Liabilities

Up

$50,235,515

Up $22,419,585 (+81%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin78th percentile

Revenue

Up

$9,281,578

Up $1,189,950 (+15%) from 2020

Expenses

Down

$5,273,428

Down $1,598,501 (-23%) from 2020

Net Income

Up

$4,008,150

Up $2,788,451 (+229%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2011: $25,218,147Liabilities 2011: $11,172,015Net Assets 2011: $14,046,1322011Assets 2012: $35,301,331Liabilities 2012: $18,338,616Net Assets 2012: $16,962,7152012Assets 2013: $31,809,922Liabilities 2013: $18,035,196Net Assets 2013: $13,774,7262013Assets 2014: $36,584,880Liabilities 2014: $24,866,916Net Assets 2014: $11,717,9642014Assets 2015: $39,761,568Liabilities 2015: $21,836,008Net Assets 2015: $17,925,5602015Assets 2016: $29,468,527Liabilities 2016: $21,125,048Net Assets 2016: $8,343,4792016Assets 2017: $27,607,673Liabilities 2017: $19,214,287Net Assets 2017: $8,393,3862017Assets 2018: $29,710,863Liabilities 2018: $18,510,900Net Assets 2018: $11,199,9632018Assets 2019: $41,462,445Liabilities 2019: $28,262,081Net Assets 2019: $13,200,3642019Assets 2020: $40,118,721Liabilities 2020: $27,815,930Net Assets 2020: $12,302,7912020Assets 2021: $67,135,031Liabilities 2021: $50,235,515Net Assets 2021: $16,899,5162021Assets 2022: $53,293,991Liabilities 2022: $35,953,887Net Assets 2022: $17,340,1042022Assets 2023: $57,356,778Liabilities 2023: $33,756,340Net Assets 2023: $23,600,4382023Assets 2024: $55,039,151Liabilities 2024: $38,077,893Net Assets 2024: $16,961,2582024

Highlighted filing

2021

Assets$67,135,031
Liabilities$50,235,515
Net Assets$16,899,516
Open 2021 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MRevenue 2011: $9,769,425Expenses 2011: $4,975,006Net Income 2011: $4,794,4192011Revenue 2012: $15,602,994Expenses 2012: $10,923,335Net Income 2012: $4,679,6592012Revenue 2013: $5,030,243Expenses 2013: $8,653,920Net Income 2013: -$3,623,6772013Revenue 2014: $6,116,166Expenses 2014: $8,172,928Net Income 2014: -$2,056,7622014Revenue 2015: $10,896,950Expenses 2015: $5,898,078Net Income 2015: $4,998,8722015Revenue 2016: $7,787,984Expenses 2016: $17,370,064Net Income 2016: -$9,582,0802016Revenue 2017: $6,307,940Expenses 2017: $5,781,949Net Income 2017: $525,9912017Revenue 2018: $6,568,294Expenses 2018: $3,778,761Net Income 2018: $2,789,5332018Revenue 2019: $6,138,102Expenses 2019: $4,137,701Net Income 2019: $2,000,4012019Revenue 2020: $8,091,628Expenses 2020: $6,871,929Net Income 2020: $1,219,6992020Revenue 2021: $9,281,578Expenses 2021: $5,273,428Net Income 2021: $4,008,1502021Revenue 2022: $9,281,124Expenses 2022: $6,849,295Net Income 2022: $2,431,8292022Revenue 2023: $10,737,776Expenses 2023: $4,240,085Net Income 2023: $6,497,6912023Revenue 2024: $11,968,911Expenses 2024: $18,608,091Net Income 2024: -$6,639,1802024

Highlighted filing

2021

Revenue$9,281,578
Expenses$5,273,428
Net Income$4,008,150
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
May 4, 2021
Return Version
2020v4.0
Gross Receipts
$9,633,887
Mission and Program Overview

Mission

To promote economic development of Edinburg, Texas

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,856,883$43,983,868▲ $25,126,985
Other Notes and Loans Receivable, Net$13,367,204$13,640,004▲ $272,800
Land, Buildings, and Equipment, Net$6,255,684$7,416,163▲ $1,160,479
Accounts Receivable$1,483,175$2,094,996▲ $611,821
Total Assets$40,118,721$67,135,031▲ $27,016,310
Other Assets Total$155,775--
Liabilities
Unsecured Notes Loans Payable$26,945,000$49,445,000▲ $22,500,000
Accounts Payable and Accrued Expenses$126,582$790,515▲ $663,933
Other Liabilities$744,348--
Total Liabilities$27,815,930$50,235,515▲ $22,419,585
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,302,791$16,899,516▲ $4,596,725
Total Net Assets Fund Balance$12,302,791$16,899,516▲ $4,596,725
Total Liabilities and Net Assets / Fund Balance$40,118,721$67,135,031▲ $27,016,310

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,238,287-$6,238,287
Buildings$1,176,220$580,884$1,757,104
Equipment$1,656$39,406$41,062
Compensation and Service Providers
Top Officer Pay16th percentile

Board Members and Trustees

NameTitle
Hiren GovindPresident
Raul ResendezDirector
Sabrina Walker-hernandezDirector
Veronica GonzalesDirector
Ron GarzaCity Manager
Blanca DavilaExecutive Di
Daniel DiazSecretary
Aaron RiveraTreasurer
Roland GomezVice-preside

Highest Paid Contractors

ContractorServicesLocationCompensation
City Of EdinburgAdministrative415 W UNIVERSITY DR, Edinburg, TX 78539$4,067,492
Oceangate InvestmentsDevelopment312 W NOLANA LOOP, Pharr, TX 78577$500,000
First Hartford RealtyDevelopment437 E TRENTON RD, Edinburg, TX 78539$200,000
Vantage Ventures LtdDevelopment4316 N 10TH ST, Mcallen, TX 78504$102,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,713,014
Investment Income
$1,558,564
Other Revenue
$10,000
Change in Net Assets
$4,008,150
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,273,428
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,262,443$308,515-$2,570,958
Fees for Services Management$880,000$120,000-$1,000,000
Fees for Services Other$201,174$27,433-$228,607
Advertising$119,379$16,279-$135,658
Depreciation Depletion$53,686--$53,686
All Other Expenses$23,092$1,868-$24,960
Other Expenses$8,857$1,208-$10,065
Office Expenses$4,693$639-$5,332
Travel$440$60-$500
Information Technology$245$33-$278
Total Functional Expenses$4,786,063$487,365$0$5,273,428
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Director reviews the tax return with the tax preparer and receives answers to questions.”

Form 990, Page 6, Part VI, Line 12C

“Eedc requires its salaried officers and employees to agree in writing to be bound by the restrictions relating to conflicts of interest as set forth in the city policies.”

Form 990, Page 6, Part VI, Line 15A

“Human resource department compares and analyzes comparable compensation packages with other similar economic development organizations. Director provides recommendations on cost of living adjustments annually.”

Form 990, Page 6, Part VI, Line 19

“Audited financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Edinburg Economic Development
EIN
74-2609452
Phone
9563888207
Address
415 W UNIVERSITY DR, EDINBURG, TX 78540

Signing Officer

Name
Blanca Davila
Title
Executive Director
Phone
9563837124
Signed
2021-05-04

Organization Details

Principal Officer
Blanca Davila
Formed
1990
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Cris Villarreal Pllc
Address
140 S NUECES PARK LN, HARLINGEN, TX 78552
Preparer
Cristian Villarreal
Phone
9565341040
Raw XML Appendix374 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt013640004
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0BLANCA DAVILA
IRS990/PriorPeriodAdjustmentsAmt0588575
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0561000
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc01/2 CENT SALES TAX
IRS990/ProgramServiceRevenueGrp/Desc1PROPERTY LEASES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07622882
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt190132
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07622882
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt190132
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0810234
IRS990/PYOtherExpensesAmt06871929
IRS990/PYOtherRevenueAmt01156
IRS990/PYProgramServiceRevenueAmt07280238
IRS990/PYRevenuesLessExpensesAmt01219699
IRS990/PYTotalExpensesAmt06871929
IRS990/PYTotalRevenueAmt08091628
IRS990/ReconcilationRevenueExpnssAmt04008150
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07713014
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01176220
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0580884
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01757104
IRS990ScheduleD/EquipmentGrp/BookValueAmt01656
IRS990ScheduleD/EquipmentGrp/DepreciationAmt039406
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt041062
IRS990ScheduleD/LandGrp/BookValueAmt06238287
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt06238287
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07416163
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DIRECTOR REVIEWS THE TAX RETURN WITH THE TAX PREPARER AND RECEIVES ANSWERS TO QUESTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EEDC REQUIRES ITS SALARIED OFFICERS AND EMPLOYEES TO AGREE IN WRITING TO BE BOUND BY THE RESTRICTIONS RELATING TO CONFLICTS OF INTEREST AS SET FORTH IN THE CITY POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HUMAN RESOURCE DEPARTMENT COMPARES AND ANALYZES COMPARABLE COMPENSATION PACKAGES WITH OTHER SIMILAR ECONOMIC DEVELOPMENT ORGANIZATIONS. DIRECTOR PROVIDES RECOMMENDATIONS ON COST OF LIVING ADJUSTMENTS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt040118721
IRS990/TotalAssetsEOYAmt067135031
IRS990/TotalAssetsGrp/BOYAmt040118721
IRS990/TotalAssetsGrp/EOYAmt067135031
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0487365
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04786063
IRS990/TotalFunctionalExpensesGrp/TotalAmt05273428
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027815930
IRS990/TotalLiabilitiesEOYAmt050235515
IRS990/TotalLiabilitiesGrp/BOYAmt027815930
IRS990/TotalLiabilitiesGrp/EOYAmt050235515
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012302791
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016899516
IRS990/TotalProgramServiceExpensesAmt04786063
IRS990/TotalProgramServiceRevenueAmt07713014
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09281578
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09281578
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt040118721
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt067135031
IRS990/TravelGrp/ManagementAndGeneralAmt060
IRS990/TravelGrp/ProgramServicesAmt0440
IRS990/TravelGrp/TotalAmt0500
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt026945000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt049445000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0415 W UNIVERSITY DR
IRS990/USAddress/CityNm0EDINBURG
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078539
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0CITYOFEDINBURG.COM
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BLANCA DAVILA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09563837124
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EDINBURG ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0EDIN
ReturnHeader/Filer/EIN0742609452
ReturnHeader/Filer/PhoneNum09563888207
ReturnHeader/Filer/USAddress/AddressLine1Txt0415 W UNIVERSITY DR
ReturnHeader/Filer/USAddress/CityNm0EDINBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078540
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264714609
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRIS VILLARREAL PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0140 S NUECES PARK LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARLINGEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078552
ReturnHeader/PreparerPersonGrp/PhoneNum09565341040
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRISTIAN VILLARREAL
ReturnHeader/ReturnTs02022-05-06T13:08:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BLANCA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DAVILA
ReturnHeader/TaxPeriodBeginDt02020-10-01
ReturnHeader/TaxPeriodEndDt02021-09-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$67,135,031
Liabilities
$50,235,515
Net assets
$16,899,516
Revenue
$9,281,578
Expenses
$5,273,428
Net income
$4,008,150
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.0$38.1$17.0$12.0$18.6$6.64
2023Summary only. Only limited summary data is available for this year.$57.4$33.8$23.6$10.7$4.24$6.50
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.3$36.0$17.3$9.28$6.85$2.43
2021Detailed filing. Detailed filing data is available for this year.$67.1$50.2$16.9$9.28$5.27$4.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.1$27.8$12.3$8.09$6.87$1.22
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.5$28.3$13.2$6.14$4.14$2.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.7$18.5$11.2$6.57$3.78$2.79
2017Summary only. Only limited summary data is available for this year.$27.6$19.2$8.39$6.31$5.78$0.53
2016Summary only. Only limited summary data is available for this year.$29.5$21.1$8.34$7.79$17.4$9.58
2015Summary only. Only limited summary data is available for this year.$39.8$21.8$17.9$10.9$5.90$5.00
2014Summary only. Only limited summary data is available for this year.$36.6$24.9$11.7$6.12$8.17$2.06
2013Summary only. Only limited summary data is available for this year.$31.8$18.0$13.8$5.03$8.65$3.62
2012Summary only. Only limited summary data is available for this year.$35.3$18.3$17.0$15.6$10.9$4.68
2011Summary only. Only limited summary data is available for this year.$25.2$11.2$14.0$9.77$4.98$4.79