Civic Intelligence

Franklin County Industrial Foundation

990 • Fiscal year 2020 • EIN 75-0809311

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 07, 2021

Organization ProfileWWW.MTVERNON-VERNON.COM
PO Box 909Mount Vernon, TX 75457-0909

(903) 537-2201

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

21st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

49th percentile

4.9%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

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

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

34th percentile

0.0%

Faster asset growth than 34% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

7th percentile

-52%

Faster revenue growth than 7% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$668,781

Up $157 (+0.0%) from 2019

Net Assets

Up

$668,781

Up $157 (+0.0%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin49th percentile

Revenue

Down

$3,202

Down $3,471 (-52%) from 2019

Expenses

Down

$3,045

Down $12,642 (-81%) from 2019

Net Income

Up

$157

Up $9,171 (+102%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $657,700Liabilities 2011: $0Net Assets 2011: $657,7002011Assets 2012: $649,589Liabilities 2012: $0Net Assets 2012: $649,5892012Assets 2013: $629,129Liabilities 2013: $0Net Assets 2013: $629,1292013Assets 2014: $630,327Liabilities 2014: $0Net Assets 2014: $630,4262014Assets 2015: $682,318Liabilities 2015: $0Net Assets 2015: $682,3182015Assets 2016: $686,562Liabilities 2016: $0Net Assets 2016: $686,5622016Assets 2017: $678,342Liabilities 2017: $0Net Assets 2017: $678,3422017Assets 2018: $677,638Liabilities 2018: $0Net Assets 2018: $677,6382018Assets 2019: $668,624Liabilities 2019: $0Net Assets 2019: $668,6242019Assets 2020: $668,781Liabilities 2020: $0Net Assets 2020: $668,7812020Assets 2021: $722,005Liabilities 2021: $0Net Assets 2021: $722,0052021Assets 2022: $725,919Liabilities 2022: $500Net Assets 2022: $725,4192022Assets 2023: $983,694Liabilities 2023: $0Net Assets 2023: $983,6942023Assets 2024: $1,657,242Liabilities 2024: $0Net Assets 2024: $1,657,2422024

Highlighted filing

2020

Assets$668,781
Liabilities$0
Net Assets$668,781
Open 2020 Filing

Operations Trend

Revenue Growth7th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $7,540Expenses 2011: $5,096Net Income 2011: $2,4442011Revenue 2012: $7,722Expenses 2012: $15,833Net Income 2012: -$8,1112012Revenue 2013: $7,295Expenses 2013: $27,755Net Income 2013: -$20,4602013Revenue 2014: $3,598Expenses 2014: $2,301Net Income 2014: $1,2972014Revenue 2015: $55,804Expenses 2015: $3,912Net Income 2015: $51,8922015Revenue 2016: $6,665Expenses 2016: $2,421Net Income 2016: $4,2442016Revenue 2017: $6,897Expenses 2017: $15,117Net Income 2017: -$8,2202017Revenue 2018: $7,130Expenses 2018: $7,834Net Income 2018: -$7042018Revenue 2019: $6,673Expenses 2019: $15,687Net Income 2019: -$9,0142019Revenue 2020: $3,202Expenses 2020: $3,045Net Income 2020: $1572020Revenue 2021: $56,075Expenses 2021: $2,851Net Income 2021: $53,2242021Revenue 2022: $5,815Expenses 2022: $2,401Net Income 2022: $3,4142022Revenue 2023: $294,217Expenses 2023: $35,942Net Income 2023: $258,2752023Revenue 2024: $676,342Expenses 2024: $2,794Net Income 2024: $673,5482024

Highlighted filing

2020

Revenue$3,202
Expenses$3,045
Net Income$157
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 7, 2021
Return Version
2020v4.1
Gross Receipts
$3,202
Mission and Program Overview

Mission

Promote business and economic development in franklin county, texas.

Promoting business and economic development in franklin county, tx

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$605,224$605,381▲ $157
Savings and Temporary Cash Investments$334,761$402,608▲ $67,847
Land, Buildings, and Equipment, Net$255,198$255,198→ $0
Other Notes and Loans Receivable, Net$75,449--
Pd in Cap Srpls Land Bldg Eqp Fund$63,400$63,400→ $0
Cash and Non-Interest-Bearing Accounts$3,216$10,975▲ $7,759
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$668,624$668,781▲ $157
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$668,624$668,781▲ $157
Total Liabilities and Net Assets / Fund Balance$668,624$668,781▲ $157

Asset Categories

AssetBook ValueDepreciationBasis
Land$255,198-$68,037
Other Land Buildings$0$1,200-
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
Bob McfarlandPresident
Paul LovierVice-president
Landon RamsaySecretary
Ken GreerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,800
Program Service Revenue
$0
Investment Income
$1,402
Other Revenue
$0
Change in Net Assets
$157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,945
Grants and Similar Amounts Paid$100
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance---$978
Advertising---$905
Fees for Services Accounting---$770
Grants to Domestic Orgs---$100
Other Expenses---$96
Office Expenses---$56
Fees for Services Other---$40
Total Functional Expenses$0$0$0$3,045
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The members are all appointed for terms of three years.”

Form 990, Part VI, Section B, Line 11B

“The officers are presented with a copy of the 990 to review and approve before the signing officer signs and mails to the irs.”

Form 990, Part VI, Section C, Line 19

“A written request is made to the board and they in turn provide the requested information.”

Filing and Contact Details

Filer

Filer Name
Franklin County Industrial Foundation
EIN
75-0809311
Phone
9035372201
Address
PO BOX 909, MOUNT VERNON, TX 75457-0909

Signing Officer

Name
Ken Greer
Title
Treasurer
Phone
9035372201
Signed
2021-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Greer
Formed
1951
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Preuss Flecker & Associates Pllc
Address
214 N DAVIS, SULPHUR SPRINGS, TX 75482
Preparer
Amy Mcgrady
Phone
9038857571
Raw XML Appendix276 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum09035372201
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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IRS990/GrossReceiptsAmt03202
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IRS990/InsuranceGrp/TotalAmt0978
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01402
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01402
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt0255198
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0255198
IRS990/LandBldgEquipCostOrOtherBssAmt0256398
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IRS990/LoanOutstandingInd00
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0668624
IRS990/NetAssetsOrFundBalancesEOYAmt0668781
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/TotalAmt056
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherExpensesGrp/Desc1PROPERTY TAXES
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IRS990/OtherExpensesGrp/TotalAmt196
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IRS990/PYRevenuesLessExpensesAmt0-9014
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt068037
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01200
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01200
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0255198
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERS ARE ALL APPOINTED FOR TERMS OF THREE YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS ARE PRESENTED WITH A COPY OF THE 990 TO REVIEW AND APPROVE BEFORE THE SIGNING OFFICER SIGNS AND MAILS TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A WRITTEN REQUEST IS MADE TO THE BOARD AND THEY IN TURN PROVIDE THE REQUESTED INFORMATION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEN GREER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09035372201
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-07
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ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0750809311
ReturnHeader/Filer/PhoneNum09035372201
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 909
ReturnHeader/Filer/USAddress/CityNm0MOUNT VERNON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd0754570909
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0824148504
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PREUSS FLECKER & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0214 N DAVIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SULPHUR SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075482
ReturnHeader/PreparerPersonGrp/PhoneNum09038857571
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMY MCGRADY
ReturnHeader/ReturnTs02021-04-28T08:44:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GREER
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$668,781
Liabilities
$0
Net assets
$668,781
Revenue
$3,202
Expenses
$3,045
Net income
$157
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.00$1.66$0.68$0.00$0.67
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.00$0.98$0.29$0.04$0.26
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.00$0.73$0.01$0.00$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.00$0.72$0.06$0.00$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.67$0.00$0.67$0.00$0.00$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.00$0.67$0.01$0.02$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.00$0.68$0.01$0.01$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.00$0.68$0.01$0.02$0.01
2016Summary only. Only limited summary data is available for this year.$0.69$0.00$0.69$0.01$0.00$0.00
2015Summary only. Only limited summary data is available for this year.$0.68$0.00$0.68$0.06$0.00$0.05
2014Summary only. Only limited summary data is available for this year.$0.63$0.00$0.63$0.00$0.00$0.00
2013Summary only. Only limited summary data is available for this year.$0.63$0.00$0.63$0.01$0.03$0.02
2012Summary only. Only limited summary data is available for this year.$0.65$0.00$0.65$0.01$0.02$0.01
2011Summary only. Only limited summary data is available for this year.$0.66$0.00$0.66$0.01$0.01$0.00