Market Lubbock Economic Development Corporation
Market Lubbock Economic Development is a public charity based in Lubbock, Texas, formed in 1995. Its stated mission includes encouraging economic development and job creation, facilitating new industries, and managing Visit Lubbock and Foreign Trade Zone 260.
Key facts about Market Lubbock Economic Development Corporation
In short: Market Lubbock Economic Development Corporation gave $2.9M across 33 grants in 2025 (avg $86K), mostly in Texas. 58% of 2025 grantees were new. Source: 2025 IRS Form 990.
- EIN
- 75-2621353
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $2,852,169
- Grants made (2025)
- 33
- Average grant
- $86,429
- Median grant
- $26,155
- New grantees (estimate)
- 58% first-time grantees (19 of 33, 2025)
- Total assets
- $13,446,245
- Primary geography
- Texas (99% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$13.4M
+6.1% YoY
Annual Giving
$2.9M
-3.9% YoY
Grant Count
33
-28.3% YoY
Avg Grant Size
$86K
+34.0% YoY
Is Market Lubbock Economic Development Corporation open to new grantees?
58%
first-time grantees, 2025
In 2025, 19 of 33 grantees (58%) were first-time recipients. First grants averaged $42K; repeat grants $146K. How we count
Medians: $27K first-time, $25K repeat.
Estimate from itemized grant lists in IRS Form 990 filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The organization’s stated mission is to enhance and encourage economic development and job creation and facilitate the development of new industries. It also manages and oversees Visit Lubbock and Foreign Trade Zone 260; Visit Lubbock encompasses the Convention and Visitors Bureau and Lubbock Sports.
The 2024–2025 program description highlights private investment in East, North, and downtown Lubbock; workforce attraction; innovation and entrepreneurship; and events intended to bring visitors to local hotels, restaurants, and businesses. Its 2025 grants included support for business development, university innovation and research, building updates, property purchase, cultural arts, and equipment for high-demand job training classes. One grantee, Lubbock Economic Development Alliance, describes its own mission as promoting economic growth through high-quality jobs, capital improvements, business retention and expansion, and quality of life.
Grantmaking
In filing year 2025, Market Lubbock reported 33 grants totaling $2,852,169. Grant amounts ranged from $10,430 to $1,000,000, with a median of $26,155. The largest awards included $1,000,000 to Lubbock Economic Development Alliance for business development in the community and $650,000 to Texas Tech University to help fund its Innovation and Research Park and first-year support for entrepreneurship.
Other listed awards included $156,250 to Beard Family Enterprises LLC dba Shift Automotive Group and $125,000 each to DJD Real Estate LLC and Woodberry Investments LLC for building updates and renovations; $125,000 to Goodwill Industries of NW Texas for a property purchase; and $75,000 to Lubbock Cultural Arts Foundation for general needs. Morton ISD, Spur ISD, and Anton ISD received grants for equipment for high-demand job training classes.
No application process, application materials, restrictions, unsolicited-request policy, or deadline are stated in the available information.
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Geographic Focus
Where this funder awards grants
The organization’s 2024–2025 program description identifies investment and development efforts in East, North, and downtown Lubbock. In 2025, 99% of grant dollars went to recipients in Texas and 1% to recipients in Arizona.
Grant Distribution by State
Share of 2025 grant dollars across all 33 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $1.1M (2021) to $3.3M (2019). In 2025 it made 33 grants totaling $2.9M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Lubbock Economic Development Alliance ($1.0M). Together the top 10 received $2.3M.
Grant Size Distribution
141 grants across all recorded years
The most common grant size was under $50K: 104 grants of 141 (74%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Lubbock Economic Development Alliance Lubbock, TX | To Assist with Business Development in the Community | $1,000,000 |
| Texas Tech University Lubbock, TX | To help fund the school's innovation and research park and first year support for entrepreneurialism | $650,000 |
| Beard Family Enterprises LLC DBA Shift Automotive Group Lubbock, TX | To assist with costs of building updates and renovations. | $156,250 |
| DJD Real Estate LLC Lubbock, TX | To assist with costs of building updates and renovations. | $125,000 |
| Goodwill Industries of NW Texas Lubbock, TX | To assist with purchase of property at 504 mlk blvd | $125,000 |
| Lubbock Cultural Arts Foundation Lubbock, TX | To Assist with General Needs of Organization. | $75,000 |
| Morton ISD Morton, TX | To assist with equipment needs for high demand job training classes | $61,507 |
| Woodberry Investments LLC Lubbock, TX | To assist with costs of building updates and renovations. | $49,025 |
| Charles Adams Studio Project Lubbock, TX | To assist with costs of building updates and renovations. | $47,482 |
| Spur ISD Spur, TX | To assist with equipment needs for high demand job training classes | $44,834 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $13,446,245 | $9,234,926 | $9,749,734 | $2,852,169 |
| 2024 | $12,675,101 | $9,439,371 | $9,221,057 | $2,967,105 |
| 2023 | $12,882,396 | $10,379,213 | $8,854,597 | $2,612,374 |
In 2024, the organization reported 46 grants; in 2023, it reported 30.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $13,446,245 | $12,675,101 | $12,882,396 |
| Revenue | $9,234,926 | $9,439,371 | $10,379,213 |
| Expenses | $9,749,734 | $9,221,057 | $8,854,597 |
| Net Investment Income | $508,511 | $469,796 | $340,845 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS July 29, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS July 6, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS July 19, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS July 26, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS June 30, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS August 13, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS July 23, 2026)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists James Conwright as chairman and Sarah Bevers as vice chairman. Directors listed are Jordan Wheatley, Mont McClendon, Henry Patel, Sonny Garza, Blake Womble, Melissa Collier, Robert Taylor, and Lori Rice-Spearman.
The organization states that Lubbock Economic Development Alliance manages its day-to-day operations under a management agreement and that Market Lubbock has no officers or management officials employed directly by the organization.
Market Lubbock Economic Development Corporation is led by John Osborne, CEO on every filing since 2019; 2 of 19 officers listed in 2025 are compensated.
Officers on the 2025 filing
John Osborne
CEO
On filings since 2019
20 hrs/week
No compensation reported
James Conwright
Chairman
Director → Vice Chairman, 2022
Vice Chairman → Chairman, 2024
On filings since 2021
2 hrs/week
No compensation reported
Amy Zientek
Director of Community Development & Market Intel
Director of Sales → Director of Tourism, 2023
Director of Tourism → Director of Community Development & Market Intel, 2025
On filings since 2022
40 hrs/week
$103K (2022) → $120K (2025)
Robert Harrison
Director of Sports
On filings since 2022
40 hrs/week
$106K (2022) → $122K (2025)
Carolyn Rowley
Director of Business Retention
Director of Business Retention → Director of Business Reten, 2024
Director of Business Reten → Director of Business Retention, 2025
On filings since 2019
20 hrs/week
No compensation reported
Henry Patel
Director
On filings since 2021
1 hr/week
No compensation reported
Jorge Quirino
Director of Downtown & Spe
Director of Downtown & Spe → Director of Downtown & Special Projects, 2023
Director of Downtown & Special Projects → Director of Downtown & Spe, 2024
On filings since 2021
20 hrs/week
No compensation reported
Sonny Garza
Director
On filings since 2021
1 hr/week
No compensation reported
Blake Womble
Director
On filings since 2023
1 hr/week
No compensation reported
Melissa Collier
Director
On filings since 2023
1 hr/week
No compensation reported
Lori Rice-Spearman
Director
On filings since 2024
1 hr/week
No compensation reported
Chris Rankin
Director of Business Development
New on the 2025 filing
20 hrs/week
No compensation reported
Jordan Wheatley
Director
New on the 2025 filing
1 hr/week
No compensation reported
Mont McClendon
Director
New on the 2025 filing
1 hr/week
No compensation reported
Robert Taylor
Director
New on the 2025 filing
1 hr/week
No compensation reported
Jana Johnston
CFO & COO
On filings since 2019
20 hrs/week
No compensation reported
Christine Allen
Vice President
On filings since 2023
20 hrs/week
No compensation reported
Sarah Bevers
Vice Chairman
Director → Vice Chairman, 2024
On filings since 2023
1 hr/week
No compensation reported
M'lyn Hefner
CFO
New on the 2025 filing
20 hrs/week
No compensation reported
Former officers (17)
- Former: Brett Cate (2019–2024) — Director
- Former: Chris Carpenter (2019–2024) — Director
- Former: John Opperman (2019–2024) — Director
- Former: Walter Cathey (2022–2024) — Director
- Former: Katherine White (2023–2024) — Director of Marketing
- Former: David Rushing (2024) — Director of Recruitment
- Former: Barry Orr (2019–2023) — Director
- Former: Matthew Bumstead (2019–2023) — Director
- Former: Suzann Kirby (2019–2023) — Director
- Former: Kenny McKay (2019–2022) — Vice President
- Former: Tonya Christine Allen (2019–2022) — Director of Workforce Development
- Former: Regina Johnston (2019–2021) — Director
- Former: Kevin Holzbog (2021) — Project Manager
- Former: Calvin Davis (2019–2020) — Director
- Former: Kristin Murray (2019–2020) — Director
- Former: Mark Griffin (2019–2020) — Vice Chairman
- Former: Kristie Caviness (2020) — Director of Marketing & Communications
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $122K, to Robert Harrison (Director of Sports). 2 officers or directors reported compensation on that filing.
Contact
Mailing address: 1500 Broadway 600, Lubbock, TX 79401
Phone: (806) 749-4500
Website: https://visitlubbock.org
Frequently asked questions about Market Lubbock Economic Development Corporation
How much does Market Lubbock Economic Development Corporation give each year?
Market Lubbock Economic Development Corporation gave $2.9M across 33 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $3.0M across 46 grants.
What is Market Lubbock Economic Development Corporation's typical grant size?
Market Lubbock Economic Development Corporation's median grant in 2025 was $26,155, and its average grant was $86,429, across 33 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Market Lubbock Economic Development Corporation that year got $42K on average.
Where does Market Lubbock Economic Development Corporation give grants?
Market Lubbock Economic Development Corporation gives mostly in Texas: 99% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Lubbock, TX (19 grants).
Does Market Lubbock Economic Development Corporation give general operating support?
Occasionally: 3% of Market Lubbock Economic Development Corporation's 2025 grants with a stated purpose (1 of 33) were for general or operating support, per its 2025 IRS Form 990. Recurring purposes include "To Assist with Costs of Building Updates and Renovations." (16 grants).
Who are Market Lubbock Economic Development Corporation's largest grantees?
Market Lubbock Economic Development Corporation's largest 2025 grantees include Lubbock Economic Development Alliance ($1,000,000), Texas Tech University ($650,000) and Beard Family Enterprises LLC DBA Shift Automotive Group ($156,250), according to its 2025 IRS Form 990. Together they received 63% of its itemized 2025 grant dollars.
How large is Market Lubbock Economic Development Corporation?
Market Lubbock Economic Development Corporation reported $13.4M in total assets on its 2025 IRS Form 990. Its revenue that year was $9.2M.
What does Market Lubbock Economic Development Corporation fund?
The organization’s stated mission is to enhance and encourage economic development and job creation and facilitate the development of new industries. See mission & focus areas ↑
How do I apply for a grant from Market Lubbock Economic Development Corporation?
Market Lubbock Economic Development Corporation has no public application process in the sources Grantable reviewed. Check visitlubbock.org for current guidelines, or contact the foundation directly before submitting a request.
What is Market Lubbock Economic Development Corporation's EIN?
Market Lubbock Economic Development Corporation's EIN (Employer Identification Number) is 75-2621353. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
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