Civic Intelligence

Southeast Texas Economic Development Foundation Inc.

990 • Fiscal year 2024 • EIN 23-7176101

Oct 01, 2023 to Sep 30, 2024 • Filed on Dec 19, 2024

Organization ProfileWWW.SETEDF.ORG
2210 Eastex FrwyBeaumont, TX 77703

(409) 838-6585

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.06x

Higher debt load relative to assets than 76% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

56th percentile

6.3%

Higher net margin than 56% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

62nd percentile

9.4%

Faster asset growth than 62% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

53rd percentile

5.2%

Faster revenue growth than 53% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$219,529

Up $18,799 (+9.4%) from 2023

Net Assets

Up

$206,380

Up $17,747 (+9.4%) from 2023

Liabilities

Up

$13,149

Up $1,052 (+8.7%) from 2023

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin56th percentile

Revenue

Up

$280,779

Up $13,766 (+5.2%) from 2023

Expenses

Up

$263,032

Up $1,970 (+0.8%) from 2023

Net Income

Up

$17,747

Up $11,796 (+198%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2017: $228,783Liabilities 2017: $22,028Net Assets 2017: $206,7552017Assets 2018: $207,026Liabilities 2018: $29,241Net Assets 2018: $177,7852018Assets 2019: $168,294Liabilities 2019: $11,500Net Assets 2019: $156,7942019Assets 2020: $147,273Liabilities 2020: $11,640Net Assets 2020: $135,6332020Assets 2021: $170,769Liabilities 2021: $5,253Net Assets 2021: $165,5162021Assets 2022: $203,887Liabilities 2022: $21,205Net Assets 2022: $182,6822022Assets 2023: $200,730Liabilities 2023: $12,097Net Assets 2023: $188,6332023Assets 2024: $219,529Liabilities 2024: $13,149Net Assets 2024: $206,3802024Assets 2025: $248,456Liabilities 2025: $6,502Net Assets 2025: $241,9542025

Highlighted filing

2024

Assets$219,529
Liabilities$13,149
Net Assets$206,380
Open 2024 Filing

Operations Trend

Revenue Growth53rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2017: $207,771Expenses 2017: $210,973Net Income 2017: -$3,2022017Revenue 2018: $210,847Expenses 2018: $240,344Net Income 2018: -$29,4972018Revenue 2019: $249,054Expenses 2019: $272,089Net Income 2019: -$23,0352019Revenue 2020: $262,798Expenses 2020: $284,086Net Income 2020: -$21,2882020Revenue 2021: $291,516Expenses 2021: $261,633Net Income 2021: $29,8832021Revenue 2022: $258,241Expenses 2022: $241,075Net Income 2022: $17,1662022Revenue 2023: $267,013Expenses 2023: $261,062Net Income 2023: $5,9512023Revenue 2024: $280,779Expenses 2024: $263,032Net Income 2024: $17,7472024Revenue 2025: $306,584Expenses 2025: $271,010Net Income 2025: $35,5742025

Highlighted filing

2024

Revenue$280,779
Expenses$263,032
Net Income$17,747
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Dec 19, 2024
Return Version
2023v6.0
Gross Receipts
$280,779
Mission and Program Overview

Mission

SEE ATTACHED STATEMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$137,528$156,581▲ $19,053
Savings and Temporary Cash Investments$43,534$44,888▲ $1,354
Prepaid Expenses and Deferred Charges$11,691$12,287▲ $596
Accounts Receivable$7,977$5,773▼ $2,204
Total Assets$200,730$219,529▲ $18,799
Liabilities
Accounts Payable and Accrued Expenses$2,097$8,149▲ $6,052
Other Liabilities$10,000$5,000▼ $5,000
Total Liabilities$12,097$13,149▲ $1,052
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$167,213$195,122▲ $27,909
Net Assets With Donor Restrictions$21,420$11,258▼ $10,162
Total Net Assets Fund Balance$188,633$206,380▲ $17,747
Total Liabilities and Net Assets / Fund Balance$200,730$219,529▲ $18,799
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Wayne HollandChairman
Kay DecuirVice Chair
Ann ScogginDirector
Bob HamerDirector
Charlie FoxworthDirector
Chris KovatchDirector
David MayDirector
Jeff BranickDirector
Jessica HillDirector
Josh SmithDirector
Larry KellyDirector
Pierce HarringtonDirector
Robert TurnerDirector
Jim RichExec Directo
Dale ChampagneSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$273,703
Investment Income
$1,355
Other Revenue
$5,721
Change in Net Assets
$17,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$193,534
Salaries, Compensation, and Employee Benefits$69,498
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$38,735$25,823-$64,558
Advertising$25,869--$25,869
Other Expenses$7,100$14,556-$21,656
Travel$14,983--$14,983
Fees for Services Accounting-$9,550-$9,550
All Other Expenses$1,707$5,125-$6,832
Insurance-$5,575-$5,575
Payroll Taxes$2,964$1,976-$4,940
Office Expenses-$3,150-$3,150
Total Functional Expenses$192,009$71,023$0$263,032
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Applicant Deposits$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Reviewed by executive director and secretary before filing. Also reviewed by audit committee when meeting with auditor at conclusion of audit”

Form 990, Page 6, Part VI, Line 12C

“If a member has a conflict of interest, then that member is not allowed to vote on the related policy.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Southeast Texas Economic
EIN
23-7176101
Phone
4098386585
Address
2210 EASTEX FRWY, BEAUMONT, TX 77703

Signing Officer

Name
Jim Rich
Title
Exec Director
Phone
4098386581
Signed
2024-12-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Rich
Formed
1998
Legal Domicile
TX
Voting Board Members
13
Independent Board Members
13
Employees
2

Preparer

Firm
Lawrence Blackburn Meek Maxey & Co
Address
2920 EASTEX FWY, BEAUMONT, TX 77703-4643
Preparer
Julia F Hayes
Phone
4098987610
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IF A MEMBER HAS A CONFLICT OF INTEREST, THEN THAT MEMBER IS NOT ALLOWED TO VOTE ON THE RELATED POLICY.
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$219,529
Liabilities
$13,149
Net assets
$206,380
Revenue
$280,779
Expenses
$263,032
Net income
$17,747
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.48$0.07$2.42$3.07$2.71$0.36
2024Detailed filing. Detailed filing data is available for this year.$2.20$0.13$2.06$2.81$2.63$0.18
2023Detailed filing. Detailed filing data is available for this year.$2.01$0.12$1.89$2.67$2.61$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.04$0.21$1.83$2.58$2.41$0.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.05$1.66$2.92$2.62$0.30
2020Detailed filing. Detailed filing data is available for this year.$1.47$0.12$1.36$2.63$2.84$0.21
2019Detailed filing. Detailed filing data is available for this year.$1.68$0.12$1.57$2.49$2.72$0.23
2018Detailed filing. Detailed filing data is available for this year.$2.07$0.29$1.78$2.11$2.40$0.29
2017Detailed filing. Detailed filing data is available for this year.$2.29$0.22$2.07$2.08$2.11$0.03