Civic Intelligence

Killeen Economic Development

990 • Fiscal year 2018 • EIN 74-2594957

Oct 01, 2017 to Sep 30, 2018 • Filed on Mar 06, 2019

One Santa Fe PlazaKilleen, TX 76541

(254) 526-9551

Siviq Scores

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

Liabilities / Assets

24th percentile

0.10x

Higher debt load relative to assets than 24% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

0.90x

Higher debt load relative to revenue than 87% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Net Margin

49th percentile

4.5%

Higher net margin than 49% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

39th percentile

-0.4%

Faster asset growth than 39% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

8.5%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Flat

$10,728,638

Flat from 2018

Net Assets

Flat

$9,629,056

Flat from 2018

Liabilities

Flat

$1,099,582

Flat from 2018

Revenue

Flat

$1,226,636

Flat from 2018

Expenses

Flat

$1,171,116

Flat from 2018

Net Income

Flat

$55,520

Flat from 2018

Historical Trend

Balance Sheet Trend

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 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

2018

Assets$10,728,638
Liabilities$1,099,582
Net Assets$9,629,056

Operations Trend

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 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

2018

Revenue$1,226,636
Expenses$1,171,116
Net Income$55,520
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Mar 6, 2019
Return Version
2017v2.3
Gross Receipts
$1,235,654
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$4,982,071$5,359,389▲ $377,318
Land, Buildings, and Equipment, Net$4,945,522$4,812,978▼ $132,544
Cash and Non-Interest-Bearing Accounts$694,508$556,271▼ $138,237
Total Assets$10,775,502$10,728,638▼ $46,864
Other Assets Total$153,401$0▼ $153,401
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,048,149$1,099,582▲ $51,433
Accounts Payable and Accrued Expenses$415$0▼ $415
Total Liabilities$1,048,564$1,099,582▲ $51,018
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,726,938$9,629,056▼ $97,882
Total Net Assets Fund Balance$9,726,938$9,629,056▼ $97,882
Total Liabilities and Net Assets / Fund Balance$10,775,502$10,728,638▼ $46,864

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,685,632$2,852,920$5,538,552
Land$2,116,377-$2,116,377
Other Land Buildings$10,969$20,413$31,382
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charlie WattsPresident
John GilmoreVice President
John Crutchfield IiiExecutive Director
Paula LohseChamber Rep
Debbie Nash KingCity Rep
Juan RiveraCity Rep
Mayor Jose SegarraCity Rep
Jim FosterKif Rep
Karl GreenSecretary
Bobby HoxworthTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$386,354
Program Service Revenue
$724,578
Investment Income
$99,587
Other Revenue
$16,117
Change in Net Assets
$55,520

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,226,636
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,226,636
Total Revenue per Form 990
$1,226,636
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,171,116
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
Fees for Services Management$204,500--$204,500
Depreciation Depletion$147,633--$147,633
Other Expenses$83,000--$83,000
Interest$51,433--$51,433
Advertising$43,463--$43,463
All Other Expenses$31,900--$31,900
Insurance$17,857--$17,857
Fees for Services Accounting$8,000--$8,000
Fees for Services Legal$4,529--$4,529
Total Functional Expenses$1,171,116$0$0$1,171,116

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,171,116
Total Expenses per Audited Statements$1,171,116
Total Expenses per Form 990$1,171,116
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 11B

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

Filer Name
Killeen Economic Development
EIN
74-2594957
Phone
2545269551
Address
ONE SANTA FE PLAZA, KILLEEN, TX 76541

Signing Officer

Name
John Crutchfield Iii
Title
Executive Director
Phone
2545269551
Signed
2019-03-06

Organization Details

Principal Officer
John Crutchfield Iii
Formed
1990
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Lott Vernon & Co Pc
Address
109 E AVE B, KILLEEN, TX 76541
Preparer
Debbie Hershberger CPA
Phone
2545260571
Raw XML Appendix375 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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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04982071
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05359389
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02685632
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02852920
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05538552
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01171116
IRS990ScheduleD/LandGrp/BookValueAmt02116377
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02116377
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010969
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020413
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt031382
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01226636
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04812978
IRS990ScheduleD/TotalExpensesPerForm990Amt01171116
IRS990ScheduleD/TotalRevenuePerForm990Amt01226636
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01226636
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01171116
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 11B
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/BOYAmt09726938
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt09629056
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010775502
IRS990/TotalAssetsEOYAmt010728638
IRS990/TotalAssetsGrp/BOYAmt010775502
IRS990/TotalAssetsGrp/EOYAmt010728638
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0386354
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01171116
IRS990/TotalFunctionalExpensesGrp/TotalAmt01171116
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01048564
IRS990/TotalLiabilitiesEOYAmt01099582
IRS990/TotalLiabilitiesGrp/BOYAmt01048564
IRS990/TotalLiabilitiesGrp/EOYAmt01099582
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09726938
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09629056
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01171116
IRS990/TotalProgramServiceRevenueAmt0724578
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0724578
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0115704
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01226636
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010775502
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010728638
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0ONE SANTA FE PLAZA
IRS990/USAddress/CityNm0KILLEEN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076541
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN CRUTCHFIELD III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02545269551
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KILLEEN ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0KILL
ReturnHeader/Filer/EIN0742594957
ReturnHeader/Filer/PhoneNum02545269551
ReturnHeader/Filer/USAddress/AddressLine1Txt0ONE SANTA FE PLAZA
ReturnHeader/Filer/USAddress/CityNm0KILLEEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076541
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId06005EB16FA5E700FF77ABE4BAB38CCB59B244D0A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06005EB16FA5E700FF77ABE4BAB38CCB59B244D0A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.79.250.34
ReturnHeader/FilingSecurityInformation/IPDt02019-03-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:01:09
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0742484378
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LOTT VERNON & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0109 E AVE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KILLEEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076541
ReturnHeader/PreparerPersonGrp/PhoneNum02545260571
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEBBIE HERSHBERGER CPA
ReturnHeader/ReturnTs02019-03-06T12:11:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
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