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
No grants recorded for .
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
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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