Civic Intelligence

Hart Economic Development Corporation

990 • Fiscal year 2019 • EIN 26-1384924

Oct 01, 2018 to Sep 30, 2019 • Filed on Jan 31, 2020

Organization ProfileN/A
PO Box 329Hart, TX 79043

(806) 938-2171

Siviq Scores

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

Liabilities / Assets

64th percentile

0.01x

Higher debt load relative to assets than 64% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

80th percentile

0.07x

Higher debt load relative to revenue than 80% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

94th percentile

64%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

60th percentile

8.5%

Faster asset growth than 60% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-55%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$124,811

Up $9,776 (+8.5%) from 2018

Net Assets

Up

$123,531

Up $9,776 (+8.6%) from 2018

Liabilities

Flat

$1,280

Flat from 2018

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin94th percentile

Revenue

Down

$18,485

Down $22,850 (-55%) from 2018

Expenses

Down

$6,581

Down $4,597 (-41%) from 2018

Net Income

Down

$11,904

Down $18,253 (-61%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$200K$150K$100K$50K$0Assets 2010: $114,992Liabilities 2010: $0Net Assets 2010: $114,9922010Assets 2011: $64,679Liabilities 2011: $0Net Assets 2011: $64,6792011Assets 2012: $43,621Liabilities 2012: $2,894Net Assets 2012: $40,7272012Assets 2013: $62,445Liabilities 2013: $0Net Assets 2013: $62,4452013Assets 2014: $72,671Liabilities 2014: $0Net Assets 2014: $72,6712014Assets 2015: $79,838Liabilities 2015: $0Net Assets 2015: $79,8382015Assets 2016: $94,339Liabilities 2016: $0Net Assets 2016: $94,3392016Assets 2017: $85,758Liabilities 2017: $1,216Net Assets 2017: $84,5422017Assets 2018: $115,035Liabilities 2018: $1,280Net Assets 2018: $113,7552018Assets 2019: $124,811Liabilities 2019: $1,280Net Assets 2019: $123,5312019Assets 2020: $136,554Liabilities 2020: $1,280Net Assets 2020: $135,2742020Assets 2021: $141,980Liabilities 2021: $1,280Net Assets 2021: $140,7002021Assets 2022: $149,567Liabilities 2022: $1,280Net Assets 2022: $148,2872022Assets 2023: $174,813Liabilities 2023: $1,280Net Assets 2023: $173,5332023Assets 2024: $184,007Liabilities 2024: $1,280Net Assets 2024: $182,7272024

Highlighted filing

2019

Assets$124,811
Liabilities$1,280
Net Assets$123,531
Open 2019 Filing

Operations Trend

Revenue Growth8th percentile

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

$100K$50K$0-$50KExpenses 2010: $3,1792010Expenses 2011: $75,5572011Expenses 2012: $36,4022012Expenses 2013: $2,7242013Revenue 2014: $15,020Expenses 2014: $5,610Net Income 2014: $9,4102014Revenue 2015: $16,096Expenses 2015: $5,954Net Income 2015: $10,1422015Revenue 2016: $14,611Expenses 2016: $3,246Net Income 2016: $11,3652016Revenue 2017: $21,858Expenses 2017: $35,102Net Income 2017: -$13,2442017Revenue 2018: $41,335Expenses 2018: $11,178Net Income 2018: $30,1572018Revenue 2019: $18,485Expenses 2019: $6,581Net Income 2019: $11,9042019Revenue 2020: $17,288Expenses 2020: $6,088Net Income 2020: $11,2002020Revenue 2021: $33,815Expenses 2021: $29,001Net Income 2021: $4,8142021Revenue 2022: $22,658Expenses 2022: $4,647Net Income 2022: $18,0112022Revenue 2023: $26,619Expenses 2023: $3,570Net Income 2023: $23,0492023Revenue 2024: $22,613Expenses 2024: $24,962Net Income 2024: -$2,3492024

Highlighted filing

2019

Revenue$18,485
Expenses$6,581
Net Income$11,904
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jan 31, 2020
Return Version
2018v3.2
Gross Receipts
$18,485
Mission and Program Overview

Mission

The purpose of the hart economic development corporation is to promote and develop industrial, manufacturing, and retail enterprises, and to promote and develop new business enterprises, and to promote and encourage employment and the public welfare of, for, and on behalf of the city as provided by the development corporation act of 1979 and its amendments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$41,738$53,889▲ $12,151
Savings and Temporary Cash Investments$48,100$48,055▼ $45
Land, Buildings, and Equipment, Net$21,489$19,660▼ $1,829
Accounts Receivable$3,708$3,207▼ $501
Total Assets$115,035$124,811▲ $9,776
Liabilities
Accounts Payable and Accrued Expenses$1,280$1,280→ $0
Total Liabilities$1,280$1,280→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$113,755$123,531▲ $9,776
Total Net Assets Fund Balance$113,755$123,531▲ $9,776
Total Liabilities and Net Assets / Fund Balance$115,035$124,811▲ $9,776

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$19,660$3,809$23,469
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Stanley DyerPresident
Ezekiel BarronDirector
Maria VegaDirector
Monica GuzmanDirector
Roy GonzalesDirector
George ChapaSecretary
Paul RamirezVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,261
Other Revenue
$16,224
Change in Net Assets
$11,904
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,581
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,829--$1,829
Fees for Services Accounting-$775-$775
Other Expenses$177--$177
Total Functional Expenses$5,806$775$0$6,581
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
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

“The form 990 is prepared by the cpa firm, it is reviewed with the president of the board and the mayor of the city, it is then presented to the board for approval, and then filed by the mayor.”

Form 990, Page 6, Part VI, Line 19

“The information is available upon request at the organization's offices.”

Filing and Contact Details

Filer

Filer Name
Hart Economic Development
EIN
26-1384924
Phone
8069382171
Address
PO BOX 329, HART, TX 79043

Signing Officer

Name
Stanley Dyer
Title
President
Phone
8069382171
Signed
2020-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stanley Dyer
Formed
2007
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Doshier Pickens & Francis LLC
Address
301 S POLK ST STE 800, AMARILLO, TX 79101
Preparer
John M Merriss CPA
Phone
8063733011
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The purpose of the hart economic development corporation is to promote and develop industrial, manufacturing, and retail enterprises, and to promote and develop new business enterprises, and to promote and encourage employment and the public welfare of, for, and on behalf of the city as provided by the development corporation act of 1979 and its amendments.”

Form 990, Page 2, Part III, Line 4D

“Program services in operating the corporation in its performance of its mission; providing assistance to the city of hart in the beautification and enhancement of the community in order to better achieve the corporation's mission.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE OF THE HART ECONOMIC DEVELOPMENT CORPORATION IS TO PROMOTE AND DEVELOP INDUSTRIAL, MANUFACTURING, AND RETAIL ENTERPRISES, AND TO PROMOTE AND DEVELOP NEW BUSINESS ENTERPRISES, AND TO PROMOTE AND ENCOURAGE EMPLOYMENT AND THE PUBLIC WELFARE OF, FOR, AND ON BEHALF OF THE CITY AS PROVIDED BY THE DEVELOPMENT CORPORATION ACT OF 1979 AND ITS AMENDMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROGRAM SERVICES IN OPERATING THE CORPORATION IN ITS PERFORMANCE OF ITS MISSION; PROVIDING ASSISTANCE TO THE CITY OF HART IN THE BEAUTIFICATION AND ENHANCEMENT OF THE COMMUNITY IN ORDER TO BETTER ACHIEVE THE CORPORATION'S MISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY THE CPA FIRM, IT IS REVIEWED WITH THE PRESIDENT OF THE BOARD AND THE MAYOR OF THE CITY, IT IS THEN PRESENTED TO THE BOARD FOR APPROVAL, AND THEN FILED BY THE MAYOR.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd079043
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId064C77EFB7588E50EAC3788CEDF00AEB52A94D1F5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId064C77EFB7588E50EAC3788CEDF00AEB52A94D1F5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.180.97.241
ReturnHeader/FilingSecurityInformation/IPDt02020-01-30
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:07:48
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263902769
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DOSHIER PICKENS & FRANCIS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0301 S POLK ST STE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AMARILLO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd079101
ReturnHeader/PreparerPersonGrp/PhoneNum08063733011
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN M MERRISS CPA
ReturnHeader/ReturnTs02020-01-30T08:07:48-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-10-01
ReturnHeader/TaxPeriodEndDt02019-09-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$124,811
Liabilities
$1,280
Net assets
$123,531
Revenue
$18,485
Expenses
$6,581
Net income
$11,904
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.84$0.01$1.83$0.23$0.25$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.75$0.01$1.74$0.27$0.04$0.23
2022Detailed filing. Detailed filing data is available for this year.$1.50$0.01$1.48$0.23$0.05$0.18
2021Detailed filing. Detailed filing data is available for this year.$1.42$0.01$1.41$0.34$0.29$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.37$0.01$1.35$0.17$0.06$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.25$0.01$1.24$0.18$0.07$0.12
2018Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.14$0.41$0.11$0.30
2017Detailed filing. Detailed filing data is available for this year.$0.86$0.01$0.85$0.22$0.35$0.13
2016Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.15$0.03$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.16$0.06$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$0.15$0.06$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.00$0.62$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.03$0.41$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.00$0.65$0.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.00$1.15$0.03