Civic Intelligence

Waco Industrial Foundation

990 • Fiscal year 2019 • EIN 74-1384272

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 06, 2020

Organization ProfileN/A
P O Box 1220Waco, TX 76703

(254) 757-5609

Siviq Scores

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

Liabilities / Assets

35th percentile

0.21x

Higher debt load relative to assets than 35% of similar nonprofits.

2019 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

12.34x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2019

Net Margin

88th percentile

28%

Higher net margin than 88% of similar nonprofits.

2019 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2019 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2019

Asset Growth

21st percentile

0.7%

Faster asset growth than 21% of similar nonprofits.

2019 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-62%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$31,997,127

Up $236,569 (+0.7%) from 2018

Net Assets

Up

$25,275,170

Up $153,435 (+0.6%) from 2018

Liabilities

Up

$6,721,957

Up $83,134 (+1.3%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin88th percentile

Revenue

Down

$544,895

Down $894,691 (-62%) from 2018

Expenses

Down

$391,460

Down $56,676 (-13%) from 2018

Net Income

Down

$153,435

Down $838,015 (-85%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$80M$60M$40M$20M$0Assets 2011: $23,698,989Liabilities 2011: $1,795,624Net Assets 2011: $21,903,3652011Assets 2012: $21,991,149Liabilities 2012: $336,857Net Assets 2012: $21,654,2922012Assets 2013: $28,298,298Liabilities 2013: $6,981,409Net Assets 2013: $21,316,8892013Assets 2014: $27,890,828Liabilities 2014: $6,867,329Net Assets 2014: $21,023,4992014Assets 2015: $28,271,959Liabilities 2015: $6,723,031Net Assets 2015: $21,548,9282015Assets 2016: $30,434,203Liabilities 2016: $6,775,689Net Assets 2016: $23,658,5142016Assets 2017: $30,801,798Liabilities 2017: $6,671,513Net Assets 2017: $24,130,2852017Assets 2018: $31,760,558Liabilities 2018: $6,638,823Net Assets 2018: $25,121,7352018Assets 2019: $31,997,127Liabilities 2019: $6,721,957Net Assets 2019: $25,275,1702019Assets 2020: $39,494,673Liabilities 2020: $7,449,130Net Assets 2020: $32,045,5432020Assets 2021: $35,905,694Liabilities 2021: $541,744Net Assets 2021: $35,363,9502021Assets 2022: $38,358,817Liabilities 2022: $1,508,324Net Assets 2022: $36,850,4932022Assets 2023: $72,847,655Liabilities 2023: $20,235,521Net Assets 2023: $52,612,1342023Assets 2024: $69,885,529Liabilities 2024: $6,220,441Net Assets 2024: $63,665,0882024

Highlighted filing

2019

Assets$31,997,127
Liabilities$6,721,957
Net Assets$25,275,170
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $776,774Expenses 2011: $430,007Net Income 2011: $346,7672011Revenue 2012: $191,687Expenses 2012: $440,760Net Income 2012: -$249,0732012Revenue 2013: $242,675Expenses 2013: $580,078Net Income 2013: -$337,4032013Revenue 2014: $232,159Expenses 2014: $525,549Net Income 2014: -$293,3902014Revenue 2015: $938,376Expenses 2015: $412,946Net Income 2015: $525,4302015Revenue 2016: $2,505,272Expenses 2016: $395,688Net Income 2016: $2,109,5842016Revenue 2017: $845,900Expenses 2017: $374,129Net Income 2017: $471,7712017Revenue 2018: $1,439,586Expenses 2018: $448,136Net Income 2018: $991,4502018Revenue 2019: $544,895Expenses 2019: $391,460Net Income 2019: $153,4352019Revenue 2020: $7,829,338Expenses 2020: $1,058,966Net Income 2020: $6,770,3722020Revenue 2021: $3,663,149Expenses 2021: $344,740Net Income 2021: $3,318,4092021Revenue 2022: $1,900,799Expenses 2022: $394,257Net Income 2022: $1,506,5422022Revenue 2023: $16,160,426Expenses 2023: $398,785Net Income 2023: $15,761,6412023Revenue 2024: $11,867,771Expenses 2024: $814,817Net Income 2024: $11,052,9542024

Highlighted filing

2019

Revenue$544,895
Expenses$391,460
Net Income$153,435
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 6, 2020
Return Version
2019v5.0
Gross Receipts
$815,596
Mission and Program Overview

Mission

Further eco dev in waco, tx area

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$25,562,438$25,649,775▲ $87,337
Cash and Non-Interest-Bearing Accounts$3,953,453$6,264,227▲ $2,310,774
Savings and Temporary Cash Investments$2,172,891--
Land, Buildings, and Equipment, Net$54,279$44,300▼ $9,979
Other Notes and Loans Receivable, Net$17,497$38,825▲ $21,328
Total Assets$31,760,558$31,997,127▲ $236,569
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,600,000$6,600,000→ $0
Accounts Payable and Accrued Expenses$38,823$121,957▲ $83,134
Total Liabilities$6,638,823$6,721,957▲ $83,134
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,121,735$25,275,170▲ $153,435
Total Net Assets Fund Balance$25,121,735$25,275,170▲ $153,435
Total Liabilities and Net Assets / Fund Balance$31,760,558$31,997,127▲ $236,569

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$44,300$326,740$371,040
Land$0--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Peter KultgenPast President
Rodney KrollPresident
Rick BrophyPresident Elect
Wes BaileyVice President
David LacyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$288,875
Other Revenue
$256,020
Change in Net Assets
$153,435

Audited Revenue Reconciliation

Revenue per Audited Statements
$544,895
Total Revenue per Audited Statements
$544,895
Total Revenue per Form 990
$544,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$391,460
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
Other Expenses$45,004$0$0$45,004
Interest$27,720$0$0$27,720
All Other Expenses$20,000$0$0$20,000
Fees for Services Accounting$0$14,180$0$14,180
Depreciation Depletion$9,979$0$0$9,979
Insurance$8,611$0$0$8,611
Total Functional Expenses$377,280$14,180$0$391,460

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$359,344
Total Expenses per Audited Statements$359,344
Total Expenses per Form 990$359,344
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Waco Industrial Foundation
EIN
74-1384272
Phone
2547575609
Address
P O BOX 1220, WACO, TX 76703

Signing Officer

Name
Matthew Meadors
Title
Executive Director
Phone
2547575609
Signed
2020-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Meadors
Formed
1957
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
30

Preparer

Firm
Vernon R King Jr Pc
Address
PO BOX 21023, WACO, TX 76702-1023
Preparer
Vernon King
Phone
2547760515
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board given copy at meeting prior to filing”

Pt VI, Line 15B

“No salaries”

Pt VI, Line 12C

“Board polled annually for conflicts”

Pt VI, Line 6

“Members”

Pt VI, Line 7A

“Executive Committee is elected”

Pt VI, Line 7B

“Full membership approves executive committee actions”

Pt VI, Line 15A

“No salaries”

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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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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt025275170
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0377280
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt022584
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0522311
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0544895
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt031760558
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt031997127
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O Box 1220
IRS990/USAddress/CityNm0WACO
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076703
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Matthew Meadors
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum02547575609
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WACO INDUSTRIAL FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WACO
ReturnHeader/Filer/EIN0741384272
ReturnHeader/Filer/PhoneNum02547575609
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 1220
ReturnHeader/Filer/USAddress/CityNm0WACO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076703
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CCC2E216960B6B742496D1932B4FB81CA978E1EA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CCC2E216960B6B742496D1932B4FB81CA978E1EA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.178.131.238
ReturnHeader/FilingSecurityInformation/IPDt02020-03-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm016:20:48
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERNON R KING JR PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 21023
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0767021023
ReturnHeader/PreparerPersonGrp/PhoneNum02547760515
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Vernon King
ReturnHeader/ReturnTs02020-03-06T16:21:03-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$31,997,127
Liabilities
$6,721,957
Net assets
$25,275,170
Revenue
$544,895
Expenses
$391,460
Net income
$153,435
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$69.9$6.22$63.7$11.9$0.81$11.1
2023Detailed filing. Detailed filing data is available for this year.$72.8$20.2$52.6$16.2$0.40$15.8
2022Detailed filing. Detailed filing data is available for this year.$38.4$1.51$36.9$1.90$0.39$1.51
2021Detailed filing. Detailed filing data is available for this year.$35.9$0.54$35.4$3.66$0.34$3.32
2020Detailed filing. Detailed filing data is available for this year.$39.5$7.45$32.0$7.83$1.06$6.77
2019Detailed filing. Detailed filing data is available for this year.$32.0$6.72$25.3$0.54$0.39$0.15
2018Detailed filing. Detailed filing data is available for this year.$31.8$6.64$25.1$1.44$0.45$0.99
2017Detailed filing. Detailed filing data is available for this year.$30.8$6.67$24.1$0.85$0.37$0.47
2016Detailed filing. Detailed filing data is available for this year.$30.4$6.78$23.7$2.51$0.40$2.11
2015Detailed filing. Detailed filing data is available for this year.$28.3$6.72$21.5$0.94$0.41$0.53
2014Summary only. Only limited summary data is available for this year.$27.9$6.87$21.0$0.23$0.53$0.29
2013Summary only. Only limited summary data is available for this year.$28.3$6.98$21.3$0.24$0.58$0.34
2012Summary only. Only limited summary data is available for this year.$22.0$0.34$21.7$0.19$0.44$0.25
2011Summary only. Only limited summary data is available for this year.$23.7$1.80$21.9$0.78$0.43$0.35