Is Mcallen Area Economic Development Corporation Legit?
Quick charity verification for Mcallen Area Economic Development Corporation (EIN: 201334546)
Verdict: Mcallen Area Economic Development Corporation appears trustworthy
80/100Mission Score
$1.6MRevenue
$735KAssets
1Red Flags
4Strengths
Red Flags
Consistent 0% officer compensation reported, which may obscure actual leadership costs if compensated through other means or entities.
Strengths
Consistent revenue generation, typically above $1.4 million annually.
Strong growth in net assets, nearly doubling from $317,814 in 2019 to $691,134 in 2023.
Relatively low and stable liabilities, indicating good financial health.
Expenses generally managed within revenue, leading to surpluses in recent years (e.g., 2023 surplus of over $119,000).
AI Transparency Report
Mcallen Area Economic Development Corporation demonstrates consistent financial activity, with revenues and expenses generally in the range of $1.3 million to $1.6 million over the past decade. The organization has shown a positive trend in net assets, growing from $317,814 in 2019 to $691,134 in 2023, indicating sound financial management and accumulation of reserves. Their liabilities have remained relatively low and stable, suggesting good fiscal health. The consistent reporting of 0% officer compensation across all filings indicates either that executive compensation is not reported under this category, or that the organization operates with a volunteer or externally funded leadership structure, which could be a point for further inquiry regarding full transparency on leadership costs. Overall, the organization appears financially stable with a growing asset base.