Arizona Regional Economic Development Foundation

“The form 990 is prepared by an independent CPA firm and is reviewed by the Foundations Executive Director. A complete copy is made available for all board members. Answers are provided for any questions or concerns before the return is signed and submitted.”

“The following procedures are employed in the organizations conflict of interest policy in any transaction involving AREDF and a AREDF officer, director, staff, or committee member, and any corportion, partnership or other entity in which an individual is an officer, director, staff or committee member has or expects or intends to have a financial or other beneficial interest, such individual, prior to any discussion or decision concerning the transaction, shall fully disclose to the AREDF Board or the appropriate committee considering the transaction the material facts of the transaction and the individuals interest or relationship. Upon such disclosure, the individual shall take no further part in the meeting during which time the proposal is considered and voted upon. After receiving such disclosure, prior to approving the transation, the board or committee must conclude that the transaction is fair to AREDF and must approve the transaction without the participation or vote of the interested individual. The interested individuals presence at the meeting may be counted in determining whether a quorum of the Board or committee is present, but that individual shall not vote on the transaction.”

“The Executive Directors compensation is approved annually by the Board of Directors during executive session in the month of August with implementation in October. The amount of compensation is based on comparative studies through the International Economic Development Councils Salary Survey, the financial health of the AREDF and the community it serves.”

“Compensation for the officers and key employees are reviewed by the Board annually.”

“The Foundation makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“We continue to expand our business and retention program by increasing the number of entrepreneurs and small businesses owners into our program. A major focus of this year was preparing for the launch of the Community Innovation Center, a transformative space designed to serve as a hub for entrepreneurship, coworking, and economic collaboration in Sierra Vista. AREDF proudly continued its work on the EDA-funded Cochise Ignite initiative, conducting a comprehensive and inclusive stakeholder engagement campaign. Through community surveys, one-on-one interviews, and a full week of roundtable discussions across the county, hundreds of voices contributed to a clearer understanding of Cochise Countys needs. The result was a robust gap analysis presented in January 2025 by ESI Corporation, offering critical insights to guide future development. Beyond these major initiatives, AREDF remained deeply engaged in community-wide efforts to support economic resilience and quality of life. Notable activities include co-producing the Cochise Economic Quick Facts publication and event co-hosting the Arizona at Work Job and Career Fair AREDF also became a founding member of the Arizona Tech Councils Aerospace, Aviation, Space and Defense Committee, working to strengthen Arizonas role in the national defense industry. As part of the Center on Rural Innovation CORI network and under the Ascendium grant, we are contributing to a multi-state effort to build tech talent pipelines in rural areas and, AREDF has been actively working to expand broadband infrastructure and access across rural Arizona, with a particular focus on Cochise County. This includes conducting research to identify broadband gaps, advocating for community needs, and participating in statewide planning conversations to ensure that BEAD Broadband Equity, Access, and Deployment funding is allocated equitably.”