Civic Intelligence

Galveston Economic Development Partnership Inc

990 • Fiscal year 2024 • EIN 76-0582349

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 10, 2025

PO 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

83rd percentile

0.25x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.06x

Higher debt load relative to revenue than 71% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

55th percentile

4.4%

Higher net margin than 55% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Asset Growth

94th percentile

72%

Faster asset growth than 94% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

14%

Faster revenue growth than 67% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$78,983

Up $33,089 (+72%) from 2023

Net Assets

Up

$59,460

Up $13,566 (+30%) from 2023

Liabilities

Up

$19,523

Up $19,523 from 2023

Revenue

Up

$306,449

Up $36,566 (+14%) from 2023

Expenses

Up

$292,884

Up $10,917 (+3.9%) from 2023

Net Income

Up

$13,565

Up $25,649 (+212%) from 2023

Historical Trend

Balance Sheet Trend

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

2024

Assets$78,983
Liabilities$19,523
Net Assets$59,460

Operations Trend

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

2024

Revenue$306,449
Expenses$292,884
Net Income$13,565
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$306,449
Mission and Program Overview

Mission

Promote and develop economic development activities

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,291$74,031▲ $61,740
Savings and Temporary Cash Investments$26,283$4,952▼ $21,331
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$45,894$78,983▲ $33,089
Other Assets Total$7,320$0▼ $7,320
Liabilities
Other Liabilities$0$19,523▲ $19,523
Total Liabilities$0$19,523▲ $19,523
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$45,894$59,460▲ $13,566
Total Net Assets Fund Balance$45,894$59,460▲ $13,566
Total Liabilities and Net Assets / Fund Balance$45,894$78,983▲ $33,089

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$94,055$94,055
Compensation and Service Providers

Board Members and Trustees

NameTitle
Myles SheltonChairman
Keith BassettPast Chairman
Bill ColtzerVice Chairman
Allan RasmusssenDirector
Bert BagleyDirector
Darrell CarneyDirector
Fred RaschkeDirector
Gale BurkettDirector
Howie BentleyDirector
Jayson LevyDirector
Johnny SmeccaDirector
Keith PalmerDirector
Leonard HaleDirector
Leonard WoosleyDirector
Marie RobbDirector
Maureen PattonDirector
Robert TinninDirector
Shrub KempnerDirector
Tim WalshDirector
Todd ScottDirector
Todd SullivanDirector
Victor PiersonDirector
John KelsoSecretary
William RiderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$304,400
Investment Income
$359
Other Revenue
$1,690
Change in Net Assets
$13,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$157,231
Other Expenses$128,853
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$87,500--$87,500
Other Salaries and Wages$56,195--$56,195
Payroll Taxes$13,536--$13,536
All Other Expenses$12,372--$12,372
Benefits to Members$6,800--$6,800
Other Expenses$6,090--$6,090
Conferences and Meetings$4,333--$4,333
Insurance$3,182--$3,182
Fees for Services Accounting$1,850--$1,850
Office Expenses$206--$206
Total Functional Expenses$292,884$0$0$292,884
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Custom House$16,690
Due to Gcit$2,833
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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
PO BOX 8029, GALVESTON, TX 77553-8029

Signing Officer

Name
Joshua John Owens
Title
Executive Director
Phone
4097700216
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Myles Shelton
Formed
1998
Legal Domicile
TX
Voting Board Members
24
Independent Board Members
24
Employees
3
Volunteers
0

Preparer

Firm
Ham Langston & Brezina Llp
Address
2200 MARKET ST STE 400, GALVESTON, TX 77550
Preparer
William C Ansell CPA
Phone
4097659311
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING 1.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21CHAIRMAN
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IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt03182
IRS990/InsuranceGrp/TotalAmt03182
IRS990/InvestmentIncomeGrp/ExclusionAmt0359
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0359
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt094055
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt094055
IRS990/LegalDomicileStateCd0TX
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROMOTE AND DEVELOP ECONOMIC DEVELOPMENT ACTIVITIES
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt045894
IRS990/NetAssetsOrFundBalancesEOYAmt059460
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt045894
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt059460
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ProgramServicesAmt0206
IRS990/OfficeExpensesGrp/TotalAmt0206
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07320
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt01
IRS990/OtherExpensesGrp/Desc0SUMMIT EXPENSES
IRS990/OtherExpensesGrp/Desc1CONTRACT CONSULTANT
IRS990/OtherExpensesGrp/Desc2MISC
IRS990/OtherExpensesGrp/Desc3SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt065779
IRS990/OtherExpensesGrp/ProgramServicesAmt128800
IRS990/OtherExpensesGrp/ProgramServicesAmt26241
IRS990/OtherExpensesGrp/ProgramServicesAmt36090
IRS990/OtherExpensesGrp/TotalAmt065779
IRS990/OtherExpensesGrp/TotalAmt128800
IRS990/OtherExpensesGrp/TotalAmt26241
IRS990/OtherExpensesGrp/TotalAmt36090
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt019523
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0SPONSORSHIP
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01500
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1190
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01500
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1190
IRS990/OtherRevenueTotalAmt01690
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt056195
IRS990/OtherSalariesAndWagesGrp/TotalAmt056195
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt013536
IRS990/PayrollTaxesGrp/TotalAmt013536
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MYLES SHELTON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1ECONOMIC DEVELOPMENT S
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0174500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1129900
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0174500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1129900
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0475
IRS990/PYOtherExpensesAmt0119581
IRS990/PYOtherRevenueAmt010286
IRS990/PYProgramServiceRevenueAmt0259122
IRS990/PYRevenuesLessExpensesAmt0-12084
IRS990/PYSalariesCompEmpBnftPaidAmt0162386
IRS990/PYTotalExpensesAmt0281967
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0269883
IRS990/ReconcilationRevenueExpnssAmt013565
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026283
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04952
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt094055
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt094055
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02833
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt116690
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO GCIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO CUSTOM HOUSE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt019523
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/ExplanationTxt4ROUNDING 1.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt045894
IRS990/TotalAssetsEOYAmt078983
IRS990/TotalAssetsGrp/BOYAmt045894
IRS990/TotalAssetsGrp/EOYAmt078983
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0292884
IRS990/TotalFunctionalExpensesGrp/TotalAmt0292884
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt019523
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt019523
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt045894

Document Assets

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Filings

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