Civic Intelligence

Killeen Economic Development

990 • Fiscal year 2014 • EIN 74-2594957

Oct 01, 2013 to Sep 30, 2014 • Filed on Feb 09, 2015

Organization ProfileN/A
One Santa Fe Plaza76541

(254) 526-9551

Siviq Scores

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

Liabilities / Assets

18th percentile

0.09x

Higher debt load relative to assets than 18% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

77th percentile

0.65x

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

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Net Margin

75th percentile

15%

Higher net margin than 75% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

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.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Asset Growth

36th percentile

2.5%

Faster asset growth than 36% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$10,986,749

Up $266,950 (+2.5%) from 2013

Net Assets

Up

$10,007,405

Up $219,235 (+2.2%) from 2013

Liabilities

Up

$979,344

Up $47,715 (+5.1%) from 2013

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin75th percentile

Revenue

$1,507,864

No earlier filing loaded for comparison.

Expenses

Down

$1,288,629

Down $63,661 (-4.7%) from 2013

Net Income

$219,235

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$15M$10M$5.0M$0Assets 2010: $10,448,265Liabilities 2010: $857,043Net Assets 2010: $9,591,2222010Assets 2011: $10,317,120Liabilities 2011: $846,513Net Assets 2011: $9,470,6072011Assets 2012: $10,587,449Liabilities 2012: $888,052Net Assets 2012: $9,699,3972012Assets 2013: $10,719,799Liabilities 2013: $931,629Net Assets 2013: $9,788,1702013Assets 2014: $10,986,749Liabilities 2014: $979,344Net Assets 2014: $10,007,4052014Assets 2015: $10,483,492Liabilities 2015: $1,025,303Net Assets 2015: $9,458,1892015Assets 2016: $10,742,404Liabilities 2016: $999,122Net Assets 2016: $9,743,2822016Assets 2017: $10,775,502Liabilities 2017: $1,048,564Net Assets 2017: $9,726,9382017Assets 2018: $10,728,638Liabilities 2018: $1,099,582Net Assets 2018: $9,629,0562018Assets 2019: $10,430,175Liabilities 2019: $1,290,619Net Assets 2019: $9,139,5562019Assets 2020: $10,270,015Liabilities 2020: $1,223,627Net Assets 2020: $9,046,3882020Assets 2021: $9,819,595Liabilities 2021: $1,301,765Net Assets 2021: $8,517,8302021Assets 2022: $9,505,741Liabilities 2022: $1,010,584Net Assets 2022: $8,495,1572022Assets 2023: $9,564,725Liabilities 2023: $205,532Net Assets 2023: $9,359,1932023Assets 2024: $13,387,201Liabilities 2024: $3,821,291Net Assets 2024: $9,565,9102024Assets 2025: $12,268,156Liabilities 2025: $2,694,301Net Assets 2025: $9,573,8552025

Highlighted filing

2014

Assets$10,986,749
Liabilities$979,344
Net Assets$10,007,405
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,079,4482010Expenses 2011: $1,589,1382011Expenses 2012: $1,256,7652012Expenses 2013: $1,352,2902013Revenue 2014: $1,507,864Expenses 2014: $1,288,629Net Income 2014: $219,2352014Revenue 2015: $1,220,887Expenses 2015: $1,770,103Net Income 2015: -$549,2162015Revenue 2016: $1,711,478Expenses 2016: $1,426,385Net Income 2016: $285,0932016Revenue 2017: $1,130,157Expenses 2017: $1,146,501Net Income 2017: -$16,3442017Revenue 2018: $1,226,636Expenses 2018: $1,171,116Net Income 2018: $55,5202018Revenue 2019: $1,118,558Expenses 2019: $1,608,058Net Income 2019: -$489,5002019Revenue 2020: $1,055,205Expenses 2020: $1,148,373Net Income 2020: -$93,1682020Revenue 2021: $2,118,011Expenses 2021: $2,646,569Net Income 2021: -$528,5582021Revenue 2022: $1,343,814Expenses 2022: $1,366,487Net Income 2022: -$22,6732022Revenue 2023: $2,552,550Expenses 2023: $1,688,514Net Income 2023: $864,0362023Revenue 2024: $1,739,263Expenses 2024: $1,479,458Net Income 2024: $259,8052024Revenue 2025: $1,539,026Expenses 2025: $1,531,081Net Income 2025: $7,9452025

Highlighted filing

2014

Revenue$1,507,864
Expenses$1,288,629
Net Income$219,235
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Feb 9, 2015
Return Version
2013v4.0
Gross Receipts
$1,507,864
Mission and Program Overview

Mission

To promote economic development in the community by expandng existing businesses and attracting new businesses.

To promote economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,905,928$5,348,207▲ $442,279
Land, Buildings, and Equipment, Net$5,442,564$5,305,654▼ $136,910
Cash and Non-Interest-Bearing Accounts$117,239$144,810▲ $27,571
Accounts Receivable$101,930$34,677▼ $67,253
Total Assets$10,719,799$10,986,749▲ $266,950
Other Assets Total$152,138$153,401▲ $1,263
Liabilities
Mortgage Notes Payable Secured by Investment Property$931,629$977,344▲ $45,715
Accounts Payable and Accrued Expenses-$2,000-
Total Liabilities$931,629$979,344▲ $47,715
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,788,170$10,007,405▲ $219,235
Total Net Assets Fund Balance$9,788,170$10,007,405▲ $219,235
Total Liabilities and Net Assets / Fund Balance$10,719,799$10,986,749▲ $266,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,987,352$2,234,053$5,221,405
Land$2,203,392-$2,203,392
Other Land Buildings$114,910$48,302$163,212
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Patton KaufmanPresident
Carlyle WaltonVice-president
Charlie WattsMember
Dan CorbinMember
Elizabeth BlackstoneMember
John GilmoreMember
Scott CosperMember
Terry ClarkMember
John Crutchfield IiiSecretary
Curt GainesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$940,668
Program Service Revenue
$546,004
Investment Income
$1,611
Other Revenue
$19,581
Change in Net Assets
$219,235

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,507,864
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,507,864
Total Revenue per Form 990
$1,507,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,188,629
Grants and Similar Amounts Paid$100,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$299,554--$299,554
Depreciation Depletion$136,910--$136,910
Grants to Domestic Orgs$100,000--$100,000
Interest$45,715--$45,715
Insurance$16,684--$16,684
Other Expenses$16,445--$16,445
Fees for Services Accounting$9,199--$9,199
Total Functional Expenses$1,288,629$0$0$1,288,629

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,288,629
Total Expenses per Audited Statements$1,288,629
Total Expenses per Form 990$1,288,629
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
--501(c)(3)To Provide Matching Scholarship Funds Generated in the Community$100,000
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 7A

“Nine members are appointed by the city council of city of killeen. There are nine members that are nominated and representing the following organizations: 3 from city of killeen mayor and city council, three from the greater killeen chamber of commerce, and three from the killeen industrial foundation.”

Form 990, Part VI, Section A, line 7B

“As provided in the agreement between kedc and the city of killeen, kedc has the authority to commit and spend funds received from the city without city council approval for activities specifically identified in the agreement. However, any acts or activities not identified, but in accordance with kedc bylaws, must be approved by the city council prior to any commitment or expenditure.”

Form 990, Part VI, Section B, line 11

“Form 990 is reviewed by the greater killeen chamber of commerce's vp of finance & administration prior to filing. Form 990 is prepared from the board approved financial statements.”

Form 990, Part VI, Section B, line 12C

“Individuals are required to disclose any potential conflict of interests. These potential conflict of interest relationships are reviewed by the board and addressed on an individual basis.”

Form 990, Part VI, Section C, line 19

“Governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

EIN
74-2594957
Phone
2545269551

Signing Officer

Name
John Crutchfield Iii
Title
Secretary
Phone
2545269551
Signed
2015-02-09

Organization Details

Principal Officer
John Crutchfield Iii
Formed
1990
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Preparer
James Mobley
Phone
2545260571
Raw XML Appendix374 raw XML fields

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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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02987352
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02234053
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05221405
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01288629
IRS990ScheduleD/LandGrp/BookValueAmt02203392
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02203392
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0114910
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt048302
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163212
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01507864
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05305654
IRS990ScheduleD/TotalExpensesPerForm990Amt01288629
IRS990ScheduleD/TotalRevenuePerForm990Amt01507864
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01507864
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01288629
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PROVIDE MATCHING SCHOLARSHIP FUNDS GENERATED IN THE COMMUNITY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10TEXAS A&M UNIVERSITY-CENTRAL TEXAS FOUNDATION
IRS990ScheduleI/RecipientTable/USAddress/AddressLine10200 TECHNOLOGY WAY
IRS990ScheduleI/RecipientTable/USAddress/City0COLLEGE STATION
IRS990ScheduleI/RecipientTable/USAddress/State0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode077845
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NINE MEMBERS ARE APPOINTED BY THE CITY COUNCIL OF CITY OF KILLEEN. THERE ARE NINE MEMBERS THAT ARE NOMINATED AND REPRESENTING THE FOLLOWING ORGANIZATIONS: 3 FROM CITY OF KILLEEN MAYOR AND CITY COUNCIL, THREE FROM THE GREATER KILLEEN CHAMBER OF COMMERCE, AND THREE FROM THE KILLEEN INDUSTRIAL FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS PROVIDED IN THE AGREEMENT BETWEEN KEDC AND THE CITY OF KILLEEN, KEDC HAS THE AUTHORITY TO COMMIT AND SPEND FUNDS RECEIVED FROM THE CITY WITHOUT CITY COUNCIL APPROVAL FOR ACTIVITIES SPECIFICALLY IDENTIFIED IN THE AGREEMENT. HOWEVER, ANY ACTS OR ACTIVITIES NOT IDENTIFIED, BUT IN ACCORDANCE WITH KEDC BYLAWS, MUST BE APPROVED BY THE CITY COUNCIL PRIOR TO ANY COMMITMENT OR EXPENDITURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE GREATER KILLEEN CHAMBER OF COMMERCE'S VP OF FINANCE & ADMINISTRATION PRIOR TO FILING. FORM 990 IS PREPARED FROM THE BOARD APPROVED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDIVIDUALS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTERESTS. THESE POTENTIAL CONFLICT OF INTEREST RELATIONSHIPS ARE REVIEWED BY THE BOARD AND ADDRESSED ON AN INDIVIDUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt09788170
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt010007405
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010719799
IRS990/TotalAssetsEOYAmt010986749
IRS990/TotalAssetsGrp/BOYAmt010719799
IRS990/TotalAssetsGrp/EOYAmt010986749
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0940668
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01288629
IRS990/TotalFunctionalExpensesGrp/TotalAmt01288629
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0931629
IRS990/TotalLiabilitiesEOYAmt0979344
IRS990/TotalLiabilitiesGrp/BOYAmt0931629
IRS990/TotalLiabilitiesGrp/EOYAmt0979344
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09788170
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010007405
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01288629
IRS990/TotalProgramServiceRevenueAmt0546004
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0546004
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021192
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01507864
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010719799
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010986749
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10ONE SANTA FE PLAZA
IRS990/USAddress/City0KILLEEN
IRS990/USAddress/State0TX
IRS990/USAddress/ZIPCode076541
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN CRUTCHFIELD III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum02545269551
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine10KILLEEN ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0KILL
ReturnHeader/Filer/EIN0742594957
ReturnHeader/Filer/PhoneNum02545269551
ReturnHeader/Filer/USAddress/AddressLine10ONE SANTA FE PLAZA
ReturnHeader/Filer/USAddress/City0KILLEEN
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode076541
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0742484378
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10LOTT VERNON & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10109 E AVE B P O BOX 935
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0KILLEEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode076540
ReturnHeader/PreparerPersonGrp/PhoneNum02545260571
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES MOBLEY
ReturnHeader/ReturnTs02015-02-12T15:56:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-10-01
ReturnHeader/TaxPeriodEndDt02014-09-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,986,749
Liabilities
$979,344
Net assets
$10,007,405
Revenue
$1,507,864
Expenses
$1,288,629
Net income
$219,235
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.3$2.69$9.57$1.54$1.53$0.01
2024Detailed filing. Detailed filing data is available for this year.$13.4$3.82$9.57$1.74$1.48$0.26
2023Detailed filing. Detailed filing data is available for this year.$9.56$0.21$9.36$2.55$1.69$0.86
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.51$1.01$8.50$1.34$1.37$0.02
2021Detailed filing. Detailed filing data is available for this year.$9.82$1.30$8.52$2.12$2.65$0.53
2020Detailed filing. Detailed filing data is available for this year.$10.3$1.22$9.05$1.06$1.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$10.4$1.29$9.14$1.12$1.61$0.49
2018Detailed filing. Detailed filing data is available for this year.$10.7$1.10$9.63$1.23$1.17$0.06
2017Detailed filing. Detailed filing data is available for this year.$10.8$1.05$9.73$1.13$1.15$0.02
2016Detailed filing. Detailed filing data is available for this year.$10.7$1.00$9.74$1.71$1.43$0.29
2015Detailed filing. Detailed filing data is available for this year.$10.5$1.03$9.46$1.22$1.77$0.55
2014Detailed filing. Detailed filing data is available for this year.$11.0$0.98$10.0$1.51$1.29$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$0.93$9.79$1.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$0.89$9.70$1.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$0.85$9.47$1.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.86$9.59$2.08