Civic Intelligence

Galveston Economic Development Partnership Inc

990 • Fiscal year 2016 • EIN 76-0582349

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileWWW.GEDP.ORG
P O Box 8029Galveston, TX 77553-8029

(409) 770-0216

Siviq Scores

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

Liabilities / Assets

46th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

46th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

23rd percentile

-9.1%

Higher net margin than 23% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

21st percentile

-14%

Faster asset growth than 21% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

66th percentile

8.4%

Faster revenue growth than 66% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$190,522

Down $31,515 (-14%) from 2015

Net Assets

Down

$190,522

Down $31,515 (-14%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin23rd percentile

Revenue

Up

$347,085

Up $26,822 (+8.4%) from 2015

Expenses

Up

$378,600

Up $21,176 (+5.9%) from 2015

Net Income

Up

-$31,515

Up $5,646 (+15%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$300K$200K$100K$0Assets 2010: $173,924Liabilities 2010: $0Net Assets 2010: $173,9242010Assets 2011: $201,056Liabilities 2011: $0Net Assets 2011: $201,0562011Assets 2012: $279,901Liabilities 2012: $0Net Assets 2012: $279,9012012Assets 2013: $181,892Liabilities 2013: $0Net Assets 2013: $181,8922013Assets 2014: $259,198Liabilities 2014: $0Net Assets 2014: $259,1982014Assets 2015: $222,037Liabilities 2015: $0Net Assets 2015: $222,0372015Assets 2016: $190,522Liabilities 2016: $0Net Assets 2016: $190,5222016Assets 2017: $184,160Liabilities 2017: $65,000Net Assets 2017: $119,1602017Assets 2018: $55,905Liabilities 2018: $0Net Assets 2018: $55,9052018Assets 2019: $37,795Liabilities 2019: $0Net Assets 2019: $37,7952019Assets 2020: $69,504Liabilities 2020: $0Net Assets 2020: $69,5042020Assets 2021: $57,212Liabilities 2021: $143Net Assets 2021: $57,0692021Assets 2022: $60,988Liabilities 2022: $3,010Net Assets 2022: $57,9782022Assets 2023: $45,894Liabilities 2023: $0Net Assets 2023: $45,8942023Assets 2024: $78,983Liabilities 2024: $19,523Net Assets 2024: $59,4602024Assets 2025: $40,609Liabilities 2025: $34,383Net Assets 2025: $6,2262025

Highlighted filing

2016

Assets$190,522
Liabilities$0
Net Assets$190,522
Open 2016 Filing

Operations Trend

Revenue Growth66th percentile

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

$600K$400K$200K$0-$200KRevenue 2010: $249,085Expenses 2010: $242,426Net Income 2010: $6,6592010Revenue 2011: $308,708Expenses 2011: $281,575Net Income 2011: $27,1332011Revenue 2012: $493,171Expenses 2012: $414,326Net Income 2012: $78,8452012Revenue 2013: $207,733Expenses 2013: $305,742Net Income 2013: -$98,0092013Revenue 2014: $428,129Expenses 2014: $350,823Net Income 2014: $77,3062014Revenue 2015: $320,263Expenses 2015: $357,424Net Income 2015: -$37,1612015Revenue 2016: $347,085Expenses 2016: $378,600Net Income 2016: -$31,5152016Revenue 2017: $235,625Expenses 2017: $306,987Net Income 2017: -$71,3622017Revenue 2018: $287,950Expenses 2018: $351,205Net Income 2018: -$63,2552018Revenue 2019: $304,760Expenses 2019: $322,870Net Income 2019: -$18,1102019Revenue 2020: $313,498Expenses 2020: $281,787Net Income 2020: $31,7112020Revenue 2021: $298,949Expenses 2021: $311,384Net Income 2021: -$12,4352021Revenue 2022: $261,566Expenses 2022: $260,657Net Income 2022: $9092022Revenue 2023: $269,883Expenses 2023: $281,967Net Income 2023: -$12,0842023Revenue 2024: $306,449Expenses 2024: $292,884Net Income 2024: $13,5652024Revenue 2025: $250,030Expenses 2025: $303,263Net Income 2025: -$53,2332025

Highlighted filing

2016

Revenue$347,085
Expenses$378,600
Net Income-$31,515
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$347,085
Mission and Program Overview

Mission

Promote and develop economic development activities

Promote and develop econcomic development activities

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$211,775$185,958▼ $25,817
Cash and Non-Interest-Bearing Accounts$4,687$2,648▼ $2,039
Land, Buildings, and Equipment, Net$5,575$1,916▼ $3,659
Total Assets$222,037$190,522▼ $31,515
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$222,037$190,522▼ $31,515
Total Net Assets Fund Balance$222,037$190,522▼ $31,515
Total Liabilities and Net Assets / Fund Balance$222,037$190,522▼ $31,515

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,916$92,139$94,055
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Fred RaschkeChairman
Vic PiersonVice Chairman
Cb RathburnDirector
Gale BurkettDirector
Jason FarmerDirector
Jayson LevyDirector
Jim PozziDirector
Jimmy RasmusssenDirector
John KelsoDirector
Johnny SmeccaDirector
Keith BassetDirector
Keith PalmerDirector
Kelly DeshaunDirector
Leonard HaleDirector
Leonard WoosleyDirector
Marie RobbDirector
Maureen PattonDirector
Shrub KempnerDirector
Todd SullivanDirector
Vj TramonteDirector
Gwen WagnerSecretary
William RiderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$343,475
Investment Income
$703
Other Revenue
$2,907
Change in Net Assets
$-31,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$261,352
Other Expenses$117,248
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$136,500--$136,500
Other Salaries and Wages$79,065$13,750-$92,815
Payroll Taxes$16,812$1,052-$17,864
Other Employee Benefits$14,173--$14,173
All Other Expenses$6,047$1,857-$7,904
Insurance$2,727$997-$3,724
Depreciation Depletion$3,659--$3,659
Occupancy$3,399--$3,399
Office Expenses$1,568$1,701-$3,269
Fees for Services Accounting-$2,697-$2,697
Other Expenses$2,099--$2,099
Travel$1,660--$1,660
Advertising$1,500--$1,500
Total Functional Expenses$356,546$22,054$0$378,600
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Organization is structured by members”

Form 990, Part VI, Section A, Line 7A

“Officers are elected by membership”

Form 990, Part VI, Section B, Line 11B

“Reviewed by authorized signer before mailing”

Form 990, Part VI, Section C, Line 19

“Made available upon request”

Filing and Contact Details

Filer

Filer Name
Galveston Economic Development
EIN
76-0582349
Phone
4097700216
Address
P O BOX 8029, GALVESTON, TX 77553-8029

Signing Officer

Name
Jeff Sjostrom
Title
Executive Director
Phone
4097700216
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Raschke
Formed
1998
Legal Domicile
TX
Voting Board Members
22
Independent Board Members
22
Employees
4
Volunteers
0

Preparer

Firm
Ham Langston & Brezina Llp
Address
1011 TREMONT STREET, GALVESTON, TX 77550
Preparer
William C Ansell CPA
Phone
4097659311
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IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROMOTE AND DEVELOP ECONOMIC DEVELOPMENT ACTIVITIES
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0222037
IRS990/NetAssetsOrFundBalancesEOYAmt0190522
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt03399
IRS990/OccupancyGrp/TotalAmt03399
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01701
IRS990/OfficeExpensesGrp/ProgramServicesAmt01568
IRS990/OfficeExpensesGrp/TotalAmt03269
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt014173
IRS990/OtherEmployeeBenefitsGrp/TotalAmt014173
IRS990/OtherExpensesGrp/Desc0DEVELOPER DAY EXPENSES
IRS990/OtherExpensesGrp/Desc1MEETING EXP
IRS990/OtherExpensesGrp/Desc2LOCAL CLIENT ENTERTAINM
IRS990/OtherExpensesGrp/Desc3PRINTING & REPRODUCTION
IRS990/OtherExpensesGrp/ProgramServicesAmt079594
IRS990/OtherExpensesGrp/ProgramServicesAmt14301
IRS990/OtherExpensesGrp/ProgramServicesAmt23442
IRS990/OtherExpensesGrp/ProgramServicesAmt32099
IRS990/OtherExpensesGrp/TotalAmt079594
IRS990/OtherExpensesGrp/TotalAmt14301
IRS990/OtherExpensesGrp/TotalAmt23442
IRS990/OtherExpensesGrp/TotalAmt32099
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISC. REFUNDS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02907
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02907
IRS990/OtherRevenueTotalAmt02907
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013750
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt079065
IRS990/OtherSalariesAndWagesGrp/TotalAmt092815
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01052
IRS990/PayrollTaxesGrp/ProgramServicesAmt016812
IRS990/PayrollTaxesGrp/TotalAmt017864
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0FRED RASCHKE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0813910
IRS990/ProgramServiceRevenueGrp/BusinessCd1611430
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1ECONOMIC DEVELOPMENT S
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0232400
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1111075
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0232400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1111075
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05320
IRS990/PYGrantsAndSimilarPaidAmt0500
IRS990/PYInvestmentIncomeAmt0817
IRS990/PYOtherExpensesAmt0127068
IRS990/PYOtherRevenueAmt01
IRS990/PYProgramServiceRevenueAmt0314125
IRS990/PYRevenuesLessExpensesAmt0-37161
IRS990/PYSalariesCompEmpBnftPaidAmt0229856
IRS990/PYTotalExpensesAmt0357424
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0320263
IRS990/ReconcilationRevenueExpnssAmt0-31515
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0346382
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0211775
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0185958
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01916
IRS990ScheduleD/EquipmentGrp/DepreciationAmt092139
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt094055
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01916
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION IS STRUCTURED BY MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS ARE ELECTED BY MEMBERSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY AUTHORIZED SIGNER BEFORE MAILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0222037
IRS990/TotalAssetsEOYAmt0190522
IRS990/TotalAssetsGrp/BOYAmt0222037
IRS990/TotalAssetsGrp/EOYAmt0190522
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022054
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0356546
IRS990/TotalFunctionalExpensesGrp/TotalAmt0378600
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0222037
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0190522
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0356546
IRS990/TotalProgramServiceRevenueAmt0343475
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0703
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0346382
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0347085
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0222037
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0190522
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01660
IRS990/TravelGrp/TotalAmt01660
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0222037
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0190522
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 8029
IRS990/USAddress/CityNm0GALVESTON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077553

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$190,522
Liabilities
$0
Net assets
$190,522
Revenue
$347,085
Expenses
$378,600
Net income
-$31,515
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.41$0.34$0.06$2.50$3.03$0.53
2024Detailed filing. Detailed filing data is available for this year.$0.79$0.20$0.59$3.06$2.93$0.14
2023Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$2.70$2.82$0.12
2022Detailed filing. Detailed filing data is available for this year.$0.61$0.03$0.58$2.62$2.61$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$2.99$3.11$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$3.13$2.82$0.32
2019Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$3.05$3.23$0.18
2018Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$2.88$3.51$0.63
2017Detailed filing. Detailed filing data is available for this year.$1.84$0.65$1.19$2.36$3.07$0.71
2016Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$3.47$3.79$0.32
2015Detailed filing. Detailed filing data is available for this year.$2.22$0.00$2.22$3.20$3.57$0.37
2014Detailed filing. Detailed filing data is available for this year.$2.59$0.00$2.59$4.28$3.51$0.77
2013Detailed filing. Detailed filing data is available for this year.$1.82$0.00$1.82$2.08$3.06$0.98
2012Summary only. Only limited summary data is available for this year.$2.80$0.00$2.80$4.93$4.14$0.79
2011Summary only. Only limited summary data is available for this year.$2.01$0.00$2.01$3.09$2.82$0.27
2010Summary only. Only limited summary data is available for this year.$1.74$0.00$1.74$2.49$2.42$0.07