Economic Development Corporation
THE ECONOMIC DEVELOPMENT CORPORATION'S PRIMARY PURPOSE IS TO ENHANCE ECONOMIC AND INDUSTRIAL ACTIVITIES FOR THE CITY OF WESLACO. ITS MAIN FOCUS IS IN RETAINING AND EXPANDING EXISTING BUSINESS, AND ATTRACTING NEW BUSINESS AND ENHANCING COMMUNITY ASSETS; WHICH INFUSES NEW DOLLARS INTO THE LOCAL ECONOMY.
Financial Overview
From 2023 IRS Form 990-PF · View filing
Total Assets
$37.6M
+84.1% YoY
Annual Giving
$3.1M
+375.7% YoY
Grant Count
14
-26.3% YoY
Avg Grant Size
$220K
+545.6% YoY
About Economic Development Corporation
Based on IRS filings
Economic Development Corporation is a nonprofit organization focused on Community Improvement & Capacity Building, based in WESLACO, TX. IRS filing data is available from 2020 through 2023. As of 2023, the organization holds $37.6M in total assets. In 2023, it awarded 14 grants totaling $3.1M. Net investment income was $1.3M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $37,567,810 | $20,401,639 | $20,272,081 |
| Revenue | $8,559,382 | $4,956,590 | $4,628,585 |
| Expenses | $4,503,064 | $3,858,999 | $2,717,537 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $1,341,024 | $111,307 | $116,370 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2023
Grant Size Distribution
59 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2023 grants, the largest include Glaziers Beer & Beverage ($2,250,000), City of Weslaco ($333,282), Shops at N Bridge Llc ($97,407).
| Recipient | Purpose | Amount |
|---|---|---|
| ADVANTAGE HEALTHCARE CONSULT WESLACO, TX | ECONOMIC INCENTIVES | $9,624 |
| CITY OF WESLACO WESLACO, TX | ECONOMIC INCENTIVE | $333,282 |
| CLEAN LABEL LLC WESLACO, TX | ECONOMIC INCENTIVES | $45,313 |
| CLEVER FOODS & SUPPLEMENTS WESLACO, TX | ECONOMIC INCENTIVES | $83,050 |
| DE FIGS WESLACO LLC WESLACO, TX | ECONOMIC INCENTIVES | $22,628 |
| GABO TX DEVELOPMENTS MCALLEN, TX | ECONOMIC INCENTIVES | $10,000 |
| GLAZIERS BEER & BEVERAGE DALLAS, TX | ECONOMIC INCENTIVE | $2,250,000 |
| KAPAL EQUIPMENT LLC WESLACO, TX | ECONOMIC INCENTIVE | $8,828 |
| OL RE HOLDINGS LLC PLANO, TX | ECONOMIC INCENTIVE | $32,000 |
| SHOPS AT N BRIDGE LLC SAN ANTONIO, TX | ECONOMIC INCENTIVE | $97,407 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2023 IRS filing
From 2023 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| STEVEN M VALDEZ | 40 | $96,700 | |
| KRISTOPHER M GARCIA | MEMBER | 2 | — |
| JOE D OLIVAREZ | MEMBER | 2 | — |
| JERRY GONZALEZ | President | 2 | — |
| FRED PEREZ | Secretary | 4 | — |
| JUAN JOSE SERRANO JR | MEMBER | 4 | — |
| BENITA VALADEZ | Treasurer | 4 | — |
| SANDRA CHARLTON CPA | Vice President | 4 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Economic Development Corporation?
Economic Development Corporation is a nonprofit organization focused on Community Improvement & Capacity Building, based in WESLACO, TX. It holds $37.6M in total assets as of 2023.
How large is Economic Development Corporation?
As of 2023, Economic Development Corporation holds $37.6M in total assets with $8.6M in annual revenue. It awarded 14 grants totaling $3.1M in 2023.
Where does Economic Development Corporation operate?
Economic Development Corporation has awarded grants in Michigan, Texas.
What size grants does Economic Development Corporation award?
In 2023, Economic Development Corporation awarded 14 grants totaling $3.1M — an average of about $220K per grant, based on its IRS Form 990 filings.
What is Economic Development Corporation's EIN?
Economic Development Corporation's EIN (Employer Identification Number) is 74-2588704. IRS Form 990 filing data is available on this page for 2020–2023.
Explore Open Grants
Browse active grant opportunities in Economic Development Corporation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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