Nonprofit · EIN 74-2619492
TEXAS ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · AUSTIN, TX 78768
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $4,380,939 | $4,640,331 | -$259,392 | $8,667,369 | $480,280 | $8,187,089 |
| December 31, 2024 | 990 | $3,771,185 | $4,563,859 | -$792,674 | $8,821,031 | $374,335 | $8,446,696 |
| December 31, 2023 | 990 | $5,923,992 | $3,085,195 | $2,838,797 | $9,847,471 | $683,624 | $9,163,847 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $3,923,167
- Program service revenue
- $155,500
- Investment income
- $298,986
- Net gain from sales of assets
- $91,012
- Other revenue
- $3,286
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $951,645
- Other salaries and wages
- $876,624
- Salaries, compensation and benefits (total)
- $2,127,188
- Professional fundraising fees
- $0
- Accounting fees
- $61,000
- Occupancy
- $82,008
- Depreciation
- $129,793
- Program services (functional)
- $3,528,330
- Management and general (functional)
- $660,230
- Fundraising (functional)
- $451,771
Balance sheet and other
- Total assets, start of year
- $8,821,031
- Total assets, end of year
- $8,667,369
- Total liabilities, end of year
- $480,280
- Net assets, end of year
- $8,187,089
- Land, buildings and equipment
- $28,658
- Publicly traded securities
- $7,012,975
- Net assets without donor restrictions
- $8,187,089
- Gross receipts
- $6,257,927
- Employees
- 12
- Volunteers
- 0
- Year formed
- 1991
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AARON DEMERSON | PRESIDENT & CEO Officer | 40 | $552,502 | $18,667 |
| VALERIE SEGOVIA | VICE PRESIDENT OF INVESTOR Officer | 40 | $217,026 | $8,681 |
| WALTER BUCHHOLTZ | DIR. OF OPERATIONS Highest-paid employee | 40 | $178,061 | $11,678 |
| JESSICA WU | CHIEF MARKETING OFFICER Highest-paid employee | 40 | $163,445 | $12,055 |
| BONNIE DOWNS | DIRECTOR OF COMMUNICATIONS Highest-paid employee | 40 | $152,437 | $11,204 |
| DALE ROBERTSON | VICE PRESIDENT OF BUSINESS Officer | 40 | $139,680 | $9,600 |
| TOM MASON | BOARD DIRECTOR Trustee or director | 0 | $0 | $0 |
| CRYSTAL LONG | BOARD DIRECTOR Trustee or director | 0 | $0 | $0 |
| LARRY COBEN | BOARD DIRECTOR Trustee or director | 0 | $0 | $0 |
| ERIC ANDERSON | BOARD DIRECTOR Trustee or director | 0 | $0 | $0 |
| BRUCE NIEMEYER | BOARD DIRECTOR Trustee or director | 0 | $0 | $0 |
| ADRIAN CANNADY | BOARD TREASURER Trustee or director | 0 | $0 | $0 |
| ADRIANA CRUZ | EX-OFFICIO BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| ARUN AGARWAL | BOARD CHAIR Trustee or director | 0 | $0 | $0 |
| EDUARDO MARGAIN | BOARD SECRETARY Trustee or director | 0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEORGE HENDERSON III | BOARD DIRECTOR Trustee or director | 0 | $0 |
| S DAVID DEANDA | BOARD VICE CHAIR Trustee or director | 0 | $0 |
990 for the year ended December 31, 2024: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AARON DEMERSON | PRESIDENT & CEO Officer | 40 | $520,521 | $18,279 |
| MICHAEL CHROBAK | EXECUTIVE VP(FORMER) Former | 40 | $262,684 | $8,623 |
| WALTER BUCHHOLTZ | DIR. OF OPERATIONS Highest-paid employee | 40 | $195,988 | $10,478 |
| CHRISTIN EVANS | VICE PRESIDENT OF EXTERNAL(FORMER) Former | 40 | $177,981 | $3,940 |
| VERONICA BEYER | DIRECTOR OF MARKETING & CO(FORMER) Former | 40 | $165,701 | $7,979 |
| DALE ROBERTSON | VICE PRESIDENT OF BUSINESS DEVELOPMENT Officer | 40 | $135,267 | $7,700 |
| BONNIE DOWNS | DIRECTOR OF COMMUNICATIONS Highest-paid employee | 40 | $109,926 | $8,037 |
| EMILY LAWLEY | DIRECTOR OF EVENTS Highest-paid employee | 40 | $112,409 | $3,791 |
| VALERIE SEGOVIA | VICE PRESIDENT OF INVESTOR RELATIONS Officer | 40 | $92,273 | $2,550 |
| ADRIAN CANNADY | BOARD TREASURER Trustee or director | 0 | $0 | $0 |
| ADRIANA CRUZ | EX-OFFICIO BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| ARUN AGARWAL | BOARD CHAIR Trustee or director | 0 | $0 | $0 |
| EDUARDO MARGAIN | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| GEORGE HENDERSON III | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| KATIE FARMER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| L FREDRICK FRANCIS | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| PETER J HOLT | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| S DAVID DEANDA | BOARD VICE CHAIR Trustee or director | 0 | $0 | $0 |
| ELIZABETH KILLINGER | BOARD SECRETARY Trustee or director | 0 | $0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBERT ALLEN | PRESIDENT & CEO (FORMER) Former | 40 | $662,375 | $12,200 |
| MICHAEL CHROBAK | EXECUTIVE VP Officer | 40 | $382,934 | $8,592 |
| CHRISTIN EVANS | VICE PRESIDENT OF EXTERNAL AFFAIRS Officer | 40 | $237,900 | $1,786 |
| VERONICA BAYER | DIRECTOR OF MARKETING & COMMUNICATIONS Highest-paid employee | 40 | $162,500 | $5,500 |
| WALTER BUCHHOLTZ | DIR. OF OPERATIONS Highest-paid employee | 40 | $155,000 | $5,167 |
| SYDNEY A LOYED | DIRECTOR OF EVENTS (FORMER) Former | 40 | $106,769 | $4,035 |
| AARON DEMERSON | PRESIDENT & CEO Officer | 40 | $49,653 | $813 |
| ADRIAN CANNADY | BOARD SECRETARY Trustee or director | 0 | $0 | $0 |
| ADRIANA CRUZ | EX-OFFICIO BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| ARUN AGARWAL | BOARD VICE CHAIR Trustee or director | 0 | $0 | $0 |
| EDUARDO MARGAIN | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| GEORGE HENDERSON III | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| KATIE FARMER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| L FREDRICK FRANCIS | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| PETER J HOLT | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| S DAVID DEANDA | BOARD TREASURER Trustee or director | 0 | $0 | $0 |
| VICKI HOLLUB | BOARD CHAIR Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 684702, AUSTIN, TX 78768-4702
- In care of
- % TEXAS DEPT OF ECONOMIC DEVELOPMEN
- Principal officer (990 for 2025)
- AARON DEMERSON, PO BOX 684702, AUSTIN, TX 78768
- Signed the 990
- AARON DEMERSON, PRESIDENT AND CEO
- Phone
- (512) 981-6736
- Website
- WWW.BUSINESSINTEXAS.COM
- Return prepared by
- ASEL & ASSOCIATES PLLC
Mission
THE TEXAS ECONOMIC DEVELOPMENT CORPORATION IS AN INDEPENDENTLY FUNDED AND OPERATED 501(C)(3) NONPROFIT ORGANIZATION RESPONSIBLE FOR MARKETING AND PROMOTING TEXAS AS A PREMIER BUSINESS LOCATION.
Program accomplishments
- THE ORGANIZATION MARKETS TEXAS IN A DYNAMIC AND COMPETITIVE MANNER THROUGH PROMOTION OF ECONOMIC DEVELOPMENT AND JOB CREATION IN TEXAS.Expenses $3,528,330 · revenue $155,500
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-2619492
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $8,667,369
- Income (IRS master file)
- $6,257,927
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $4,380,939 | $4,640,331 | $8,667,369 | XML |
| 990 | December 2024 | $3,771,185 | $4,563,859 | $8,821,031 | XML |
| 990 | December 2023 | $5,923,992 | $3,085,195 | $9,847,471 | XML |
| 990 | December 2022 | $3,628,909 | $3,740,053 | $7,644,414 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-2619492).
Questions about TEXAS ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of TEXAS ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of TEXAS ECONOMIC DEVELOPMENT CORPORATION is 74-2619492.
- Is TEXAS ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to TEXAS ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TEXAS ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TEXAS ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TEXAS ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of TEXAS ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names AARON DEMERSON.
- Who are the officers and directors of TEXAS ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 17 people; 6 received compensation from the organization, the highest $552,502 (AARON DEMERSON, PRESIDENT & CEO).
- How much revenue does TEXAS ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $4,380,939, expenses of $4,640,331 and total assets of $8,667,369 at year end.
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