Greater Austin Economic Development Corporation
Greater Austin Economic Development Corporation reports consistent operational deficits in recent years despite stable asset base.
EIN: 200192975 · Austin, TX · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $5.0M |
| Program Spending | 80% |
| Net Assets | $2.7M |
| Transparency Score | 75/100 |
Is Greater Austin Economic Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Austin Economic Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Austin Economic Development Corporation
Greater Austin Economic Development Corporation (EIN: 200192975) is a nonprofit organization based in Austin, TX, classified under NTEE code S41. The organization reported total revenue of $6.0M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Austin Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Austin Economic Development Corporation is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $5.0M |
| Surplus / Deficit | $-1,835,441 |
| Total Assets | $3.3M |
| Total Liabilities | $587K |
| Net Assets | $2.7M |
| Operating Margin | -57.5% |
| Debt-to-Asset Ratio | 17.6% |
| Months of Reserves | 7.9 months |
Financial Health Grade: B
In 2023, Greater Austin Economic Development Corporation reported a deficit of $1.8M with expenses exceeding revenue, holds 7.9 months of operating reserves (strong position), has a debt-to-asset ratio of 17.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Greater Austin Economic Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -19.0% | +17.8% | -34.4% |
| 2022 | +-0.0% | +63.2% | -1.9% |
| 2021 | +6.8% | -20.9% | +39.8% |
| 2020 | -22.2% | -12.6% | +9.7% |
| 2019 | +13.6% | -5.3% | +20.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Austin Economic Development Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Greater Austin Economic Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 17.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of this size and suggests a volunteer-led executive structure or compensation is reported under other categories, requiring further investigation for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greater Austin Economic Development Corporation's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023 expenses $5,028,369 vs. revenue $3,192,928)
- Unusually low (0%) reported officer compensation for an organization of this size, which may obscure actual executive remuneration if reported elsewhere.
Strengths
The following positive indicators were identified for Greater Austin Economic Development Corporation:
- Strong asset base relative to liabilities (e.g., 2023 assets $3,329,612 vs. liabilities $586,939)
- Consistent filing of IRS 990s over 13 periods, indicating good regulatory compliance and transparency.
- Mission-focused spending implied by 0% officer compensation, suggesting resources are directed elsewhere.
Frequently Asked Questions about Greater Austin Economic Development Corporation
Is Greater Austin Economic Development Corporation a legitimate charity?
Greater Austin Economic Development Corporation (EIN: 200192975) is a registered tax-exempt nonprofit based in Texas. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.0M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Greater Austin Economic Development Corporation spend its money?
Greater Austin Economic Development Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Greater Austin Economic Development Corporation tax-deductible?
Greater Austin Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 200192975). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Greater Austin Economic Development Corporation's spending goes to programs?
Greater Austin Economic Development Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Greater Austin Economic Development Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Greater Austin Economic Development Corporation is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Greater Austin Economic Development Corporation located?
Greater Austin Economic Development Corporation is headquartered in Austin, Texas and files with the IRS under EIN 200192975. It is classified under NTEE code S41.
How many years of IRS 990 filings does Greater Austin Economic Development Corporation have?
Greater Austin Economic Development Corporation has 13 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 $6.0M in total revenue.
Is Greater Austin Economic Development Corporation a good charity?
The organization demonstrates strong financial transparency through consistent 990 filings and a notable commitment to its mission by reporting 0% officer compensation. However, recent operational deficits where expenses exceeded revenue (e.g., $5,028,369 in expenses vs. $3,192,928 in revenue in 2023) raise questions about long-term financial sustainability without further context on funding sources or specific program impacts.
Why are expenses consistently higher than revenue in recent years?
In 2023, expenses were $5,028,369 while revenue was $3,192,928, and in 2022, expenses were $4,267,855 against $3,944,259 in revenue. This trend suggests the organization may be drawing down reserves, experiencing fluctuating grant cycles, or investing heavily in specific projects. Further details from their financial statements would be needed to understand the specific reasons for these deficits.
How does the organization fund its operations without officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with annual revenues in the millions. This could indicate that executive leadership is entirely volunteer-based, or that compensation is categorized differently within the 990, such as under 'other salaries and wages' for non-officer staff, which would require a deeper dive into the full 990 forms to clarify.
Filing History
IRS 990 filing history for Greater Austin Economic Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greater Austin Economic Development Corporation's revenue has declined by 1.7%, moving from $3.2M to $3.2M. Total assets increased by 38.7% over the same period, from $2.4M to $3.3M. Total functional expenses rose by 35.9%, from $3.7M to $5.0M. In its most recent filing year (2023), Greater Austin Economic Development Corporation reported a deficit of $1.8M, with expenses exceeding revenue. The organization holds $587K in liabilities against $3.3M in assets (debt-to-asset ratio: 17.6%), resulting in net assets of $2.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $5.0M | $3.3M | $587K | — | — |
| 2022 | $3.9M | $4.3M | $5.1M | $537K | — | View 990 |
| 2021 | $3.9M | $2.6M | $5.2M | $311K | — | View 990 |
| 2020 | $3.7M | $3.3M | $3.7M | $167K | — | — |
| 2019 | $4.7M | $3.8M | $3.4M | $228K | — | — |
| 2018 | $4.2M | $4.0M | $2.8M | $612K | — | View 990 |
| 2017 | $3.5M | $4.1M | $2.5M | $483K | — | View 990 |
| 2016 | $3.7M | $3.8M | $3.0M | $409K | — | View 990 |
| 2015 | $4.9M | $4.1M | $3.1M | $416K | — | View 990 |
| 2014 | $4.5M | $3.8M | $2.1M | $285K | — | View 990 |
| 2013 | $3.8M | $4.1M | $1.8M | $697K | — | View 990 |
| 2012 | $3.3M | $4.0M | $1.8M | $411K | — | View 990 |
| 2011 | $3.2M | $3.7M | $2.4M | $253K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $5.0M, and assets of $3.3M (revenue -19.0% year-over-year).
- 2022: Revenue of $3.9M, expenses of $4.3M, and assets of $5.1M (revenue +-0.0% year-over-year).
- 2021: Revenue of $3.9M, expenses of $2.6M, and assets of $5.2M (revenue +6.8% year-over-year).
- 2020: Revenue of $3.7M, expenses of $3.3M, and assets of $3.7M (revenue -22.2% year-over-year).
- 2019: Revenue of $4.7M, expenses of $3.8M, and assets of $3.4M (revenue +13.6% year-over-year).
- 2018: Revenue of $4.2M, expenses of $4.0M, and assets of $2.8M (revenue +20.7% year-over-year).
- 2017: Revenue of $3.5M, expenses of $4.1M, and assets of $2.5M (revenue -6.9% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.8M, and assets of $3.0M (revenue -24.4% year-over-year).
- 2015: Revenue of $4.9M, expenses of $4.1M, and assets of $3.1M (revenue +10.2% year-over-year).
- 2014: Revenue of $4.5M, expenses of $3.8M, and assets of $2.1M (revenue +17.0% year-over-year).
- 2013: Revenue of $3.8M, expenses of $4.1M, and assets of $1.8M (revenue +15.5% year-over-year).
- 2012: Revenue of $3.3M, expenses of $4.0M, and assets of $1.8M (revenue +1.6% year-over-year).
- 2011: Revenue of $3.2M, expenses of $3.7M, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Austin Economic Development Corporation:
Data Sources and Methodology
This transparency report for Greater Austin 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.