Corpus Christi Regional Economic Development Corporation
EIN: 742424224 · Corpus Christi, TX
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.5M |
| Net Assets | $670K |
Is Corpus Christi Regional Economic Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Corpus Christi Regional Economic Development Corporation
Corpus Christi Regional Economic Development Corporation (EIN: 742424224) is a nonprofit organization based in Corpus Christi, TX. The organization reported total revenue of $1.8M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corpus Christi Regional Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corpus Christi Regional Economic Development Corporation is a mid-size nonprofit that has been operating for 38 years, with 11 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $1.5M |
| Surplus / Deficit | +$353K |
| Total Assets | $1.0M |
| Total Liabilities | $357K |
| Net Assets | $670K |
| Operating Margin | 19.0% |
| Debt-to-Asset Ratio | 34.8% |
| Months of Reserves | 8.2 months |
Financial Health Grade: A
In 2023, Corpus Christi Regional Economic Development Corporation reported a surplus of $353K with revenue exceeding expenses, holds 8.2 months of operating reserves (strong position), has a debt-to-asset ratio of 34.8% (moderate leverage).
Financial Trends
Over 11 years of filings (2012–2023), Corpus Christi Regional Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.5% | -26.0% | +7.6% |
| 2022 | +9.9% | +12.2% | +3.0% |
| 2021 | -5.3% | +0.6% | -5.5% |
| 2020 | +9.4% | +3.5% | +45.1% |
| 2018 | -2.1% | -5.7% | -7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Corpus Christi Regional Economic Development Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Corpus Christi Regional Economic Development Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $353K, with revenue exceeding expenses.
- Debt-to-asset ratio: 34.8%.
Frequently Asked Questions about Corpus Christi Regional Economic Development Corporation
Is Corpus Christi Regional Economic Development Corporation a legitimate charity?
Corpus Christi Regional Economic Development Corporation (EIN: 742424224) is a registered tax-exempt nonprofit based in Texas. It has 11 years of IRS 990 filings on record. Total revenue: $1.8M. No red flags identified. Financial health grade: A.
How does Corpus Christi Regional Economic Development Corporation spend its money?
Corpus Christi Regional Economic Development Corporation reported $1.8M in total revenue in IRS 990 filings. 11 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Corpus Christi Regional Economic Development Corporation tax-deductible?
Corpus Christi Regional Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 742424224). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Corpus Christi Regional Economic Development Corporation located?
Corpus Christi Regional Economic Development Corporation is headquartered in Corpus Christi, Texas and files with the IRS under EIN 742424224.
How many years of IRS 990 filings does Corpus Christi Regional Economic Development Corporation have?
Corpus Christi Regional Economic Development Corporation has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.8M in total revenue.
Filing History
IRS 990 filing history for Corpus Christi Regional Economic Development Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2023), Corpus Christi Regional Economic Development Corporation's revenue has grown by 25.3%, moving from $1.5M to $1.9M. Total assets increased by 38.3% over the same period, from $743K to $1.0M. Total functional expenses rose by 14.7%, from $1.3M to $1.5M. In its most recent filing year (2023), Corpus Christi Regional Economic Development Corporation reported a surplus of $353K, with revenue exceeding expenses. The organization holds $357K in liabilities against $1.0M in assets (debt-to-asset ratio: 34.8%), resulting in net assets of $670K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $1.5M | $1.0M | $357K | — | — |
| 2022 | $2.0M | $2.0M | $954K | $638K | — | View 990 |
| 2021 | $1.8M | $1.8M | $927K | $565K | — | View 990 |
| 2020 | $1.9M | $1.8M | $981K | $499K | — | — |
| 2018 | $1.7M | $1.7M | $676K | $348K | — | View 990 |
| 2017 | $1.8M | $1.8M | $729K | $99K | — | View 990 |
| 2016 | $1.6M | $1.6M | $776K | $84K | — | View 990 |
| 2015 | $1.6M | $1.4M | $771K | $81K | — | View 990 |
| 2014 | $1.5M | $1.7M | $709K | $145K | — | View 990 |
| 2013 | $1.5M | $1.3M | $962K | $240K | — | View 990 |
| 2012 | $1.5M | $1.3M | $743K | $300K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $1.5M, and assets of $1.0M (revenue -6.5% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.0M, and assets of $954K (revenue +9.9% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.8M, and assets of $927K (revenue -5.3% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.8M, and assets of $981K (revenue +9.4% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.7M, and assets of $676K (revenue -2.1% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.8M, and assets of $729K (revenue +10.6% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.6M, and assets of $776K (revenue +3.1% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.4M, and assets of $771K (revenue +3.3% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.7M, and assets of $709K (revenue -1.2% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.3M, and assets of $962K (revenue +3.4% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.3M, and assets of $743K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corpus Christi Regional Economic Development Corporation:
Data Sources and Methodology
This transparency report for Corpus Christi Regional Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.