Civic Intelligence

Denison Industrial Foundation Inc

990 • Fiscal year 2019 • EIN 75-1186381

Oct 01, 2018 to Sep 30, 2019 • Filed on Jan 22, 2020

Organization ProfileN/A
311 West WoodardDenison, TX 75020

(903) 464-0883

Siviq Scores

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

Liabilities / Assets

80th percentile

0.49x

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

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

6.48x

Higher debt load relative to revenue than 98% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Net Margin

96th percentile

52%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

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

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Asset Growth

98th percentile

84%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-56%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$12,477,259

Up $5,704,306 (+84%) from 2018

Net Assets

Up

$6,387,502

Up $491,600 (+8.3%) from 2018

Liabilities

Up

$6,089,757

Up $5,212,706 (+594%) from 2018

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin96th percentile

Revenue

Down

$940,398

Down $1,221,404 (-56%) from 2018

Expenses

Up

$448,798

Up $11,851 (+2.7%) from 2018

Net Income

Down

$491,600

Down $1,233,255 (-71%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$15M$10M$5.0M$0Assets 2011: $2,019,417Liabilities 2011: $963,553Net Assets 2011: $1,055,8642011Assets 2012: $2,011,132Liabilities 2012: $671,031Net Assets 2012: $1,340,1012012Assets 2013: $2,803,678Liabilities 2013: $1,240,481Net Assets 2013: $1,563,1972013Assets 2014: $2,977,525Liabilities 2014: $1,075,670Net Assets 2014: $1,901,8552014Assets 2015: $2,959,326Liabilities 2015: $636,586Net Assets 2015: $2,322,7402015Assets 2016: $3,924,207Liabilities 2016: $104,376Net Assets 2016: $3,819,8312016Assets 2017: $4,240,951Liabilities 2017: $69,904Net Assets 2017: $4,171,0472017Assets 2018: $6,772,953Liabilities 2018: $877,051Net Assets 2018: $5,895,9022018Assets 2019: $12,477,259Liabilities 2019: $6,089,757Net Assets 2019: $6,387,5022019Assets 2020: $13,891,252Liabilities 2020: $7,256,763Net Assets 2020: $6,634,4892020Assets 2021: $13,693,763Liabilities 2021: $6,971,626Net Assets 2021: $6,722,1372021Assets 2022: $13,598,078Liabilities 2022: $6,705,204Net Assets 2022: $6,892,8742022Assets 2023: $13,421,271Liabilities 2023: $6,458,310Net Assets 2023: $6,962,9612023Assets 2024: $13,247,658Liabilities 2024: $6,238,387Net Assets 2024: $7,009,2712024

Highlighted filing

2019

Assets$12,477,259
Liabilities$6,089,757
Net Assets$6,387,502
Open 2019 Filing

Operations Trend

Revenue Growth4th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2011: $577,592Expenses 2011: $543,990Net Income 2011: $33,6022011Revenue 2012: $790,981Expenses 2012: $506,744Net Income 2012: $284,2372012Revenue 2013: $864,206Expenses 2013: $641,110Net Income 2013: $223,0962013Revenue 2014: $1,080,197Expenses 2014: $741,539Net Income 2014: $338,6582014Revenue 2015: $1,115,290Expenses 2015: $694,405Net Income 2015: $420,8852015Revenue 2016: $2,175,307Expenses 2016: $678,216Net Income 2016: $1,497,0912016Revenue 2017: $862,949Expenses 2017: $511,733Net Income 2017: $351,2162017Revenue 2018: $2,161,802Expenses 2018: $436,947Net Income 2018: $1,724,8552018Revenue 2019: $940,398Expenses 2019: $448,798Net Income 2019: $491,6002019Revenue 2020: $1,291,052Expenses 2020: $1,044,065Net Income 2020: $246,9872020Revenue 2021: $1,394,238Expenses 2021: $1,306,590Net Income 2021: $87,6482021Revenue 2022: $1,661,101Expenses 2022: $1,490,364Net Income 2022: $170,7372022Revenue 2023: $1,169,664Expenses 2023: $1,099,577Net Income 2023: $70,0872023Revenue 2024: $1,090,811Expenses 2024: $1,044,501Net Income 2024: $46,3102024

Highlighted filing

2019

Revenue$940,398
Expenses$448,798
Net Income$491,600
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jan 22, 2020
Return Version
2018v3.1
Gross Receipts
$940,398
Mission and Program Overview

Mission

Promote industrial and business development in the city of denison, tx.

Promote industrial and business development in the City of Denison, Texas

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,959,232$9,878,365▲ $5,919,133
Savings and Temporary Cash Investments$2,689,845$2,433,894▼ $255,951
Cash and Non-Interest-Bearing Accounts$99,785$144,907▲ $45,122
Prepaid Expenses and Deferred Charges$19,091$15,093▼ $3,998
Other Notes and Loans Receivable, Net$5,000$5,000→ $0
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$6,772,953$12,477,259▲ $5,704,306
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$121,168$5,368,467▲ $5,247,299
Accounts Payable and Accrued Expenses$719,431$625,627▼ $93,804
Deferred Revenue$36,452$95,663▲ $59,211
Total Liabilities$877,051$6,089,757▲ $5,212,706
Net Assets / Fund Balance
Unrestricted Net Assets$5,895,902$6,387,502▲ $491,600
Total Net Assets Fund Balance$5,895,902$6,387,502▲ $491,600
Total Liabilities and Net Assets / Fund Balance$6,772,953$12,477,259▲ $5,704,306

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$7,163,552-$7,163,552
Buildings$1,238,855$2,413,882$3,652,737
Land$1,475,958-$1,475,958
Equipment-$560,138$560,138
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Robert LikarishChairman
Mark KunemanPast Chairman
Aaron SchmitzVice Chairman
David MeansDirector
Dr Melinda ParkerDirector
Harry LemmingDirector
John BullardDirector
Mark DenisonDirector
Meredith DotyDirector
Mitch MartinDirector
Kristine McKinneySecretary
Charles ShearerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$879,842
Investment Income
$45,871
Other Revenue
$14,685
Change in Net Assets
$491,600

Audited Revenue Reconciliation

Revenue per Audited Statements
$940,398
Total Revenue per Audited Statements
$940,398
Total Revenue per Form 990
$940,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$426,998
Grants and Similar Amounts Paid$21,800
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$194,157--$194,157
Depreciation Depletion$167,431--$167,431
Fees for Services Management$40,000$8,000-$48,000
Grants to Domestic Orgs$21,800--$21,800
Fees for Services Accounting-$6,950-$6,950
Conferences and Meetings$5,403--$5,403
Insurance-$1,682-$1,682
Office Expenses-$1,218-$1,218
Other Expenses$1,487$420-$420
Fees for Services Legal$250--$250
Total Functional Expenses$430,528$18,270$0$448,798

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$448,798
Total Expenses per Audited Statements$448,798
Total Expenses per Form 990$448,798
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is made available for review by board members after it is prepared. The Board does not conduct a formal review.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Organization provides copy upon request.”

Filing and Contact Details

Filer

Filer Name
Denison Industrial Foundation Inc
EIN
75-1186381
Phone
9034640883
Address
311 West Woodard, Denison, TX 75020

Signing Officer

Name
Loretta Rhoden
Title
VP Operations
Signed
2020-01-22
Discuss with paid preparer
Yes

Organization Details

Formed
1959
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Veronica Brown Davis CPA
Address
PO Box 1218, Denison, TX 75021
Preparer
Veronica Brown Davis CPA
Phone
9034633765
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IRS990/NetAssetsOrFundBalancesBOYAmt05895902
IRS990/NetAssetsOrFundBalancesEOYAmt06387502
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0194157
IRS990/OccupancyGrp/TotalAmt0194157
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01218
IRS990/OfficeExpensesGrp/TotalAmt01218
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Industry support
IRS990/OtherExpensesGrp/Desc1Dues & fees
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0420
IRS990/OtherExpensesGrp/ProgramServicesAmt01487
IRS990/OtherExpensesGrp/TotalAmt01487
IRS990/OtherExpensesGrp/TotalAmt1420
IRS990/OtherRevenueMiscGrp/Desc0Refund of commission exp
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt014685
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt014685
IRS990/OtherRevenueTotalAmt014685
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt05000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt05000
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt019091
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt015093
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc0Real estate rentals
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0879842
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0879842
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01300000
IRS990/PYGrantsAndSimilarPaidAmt04199
IRS990/PYInvestmentIncomeAmt011550
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0432748
IRS990/PYProgramServiceRevenueAmt0850252
IRS990/PYRevenuesLessExpensesAmt01724855
IRS990/PYTotalExpensesAmt0436947
IRS990/PYTotalRevenueAmt02161802
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0491600
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02689845
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02433894
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01238855
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02413882
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03652737
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0560138
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0560138
IRS990ScheduleD/ExpensesSubtotalAmt0448798
IRS990ScheduleD/LandGrp/BookValueAmt01475958
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01475958
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07163552
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07163552
IRS990ScheduleD/RevenueSubtotalAmt0940398
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09878365
IRS990ScheduleD/TotalExpensesPerForm990Amt0448798
IRS990ScheduleD/TotalRevenuePerForm990Amt0940398
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0940398
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0448798
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is made available for review by board members after it is prepared. The Board does not conduct a formal review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Organization provides copy upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06772953
IRS990/TotalAssetsEOYAmt012477259
IRS990/TotalAssetsGrp/BOYAmt06772953
IRS990/TotalAssetsGrp/EOYAmt012477259
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018270
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0430528
IRS990/TotalFunctionalExpensesGrp/TotalAmt0448798
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0877051
IRS990/TotalLiabilitiesEOYAmt06089757
IRS990/TotalLiabilitiesGrp/BOYAmt0877051
IRS990/TotalLiabilitiesGrp/EOYAmt06089757
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05895902
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06387502
IRS990/TotalProgramServiceExpensesAmt0430528
IRS990/TotalProgramServiceRevenueAmt0879842
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0940398
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0940398
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06772953
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012477259
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt05895902
IRS990/UnrestrictedNetAssetsGrp/EOYAmt06387502
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0311 West Woodard
IRS990/USAddress/CityNm0Denison
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075020
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Loretta Rhoden
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP Operations
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Denison Industrial Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0DENI
ReturnHeader/Filer/EIN0751186381
ReturnHeader/Filer/PhoneNum09034640883
ReturnHeader/Filer/USAddress/AddressLine1Txt0311 West Woodard

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$12,477,259
Liabilities
$6,089,757
Net assets
$6,387,502
Revenue
$940,398
Expenses
$448,798
Net income
$491,600
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$6.24$7.01$1.09$1.04$0.05
2023Summary only. Only limited summary data is available for this year.$13.4$6.46$6.96$1.17$1.10$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$6.71$6.89$1.66$1.49$0.17
2021Summary only. Only limited summary data is available for this year.$13.7$6.97$6.72$1.39$1.31$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$7.26$6.63$1.29$1.04$0.25
2019Detailed filing. Detailed filing data is available for this year.$12.5$6.09$6.39$0.94$0.45$0.49
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.77$0.88$5.90$2.16$0.44$1.72
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.24$0.07$4.17$0.86$0.51$0.35
2016Detailed filing. Detailed filing data is available for this year.$3.92$0.10$3.82$2.18$0.68$1.50
2015Detailed filing. Detailed filing data is available for this year.$2.96$0.64$2.32$1.12$0.69$0.42
2014Detailed filing. Detailed filing data is available for this year.$2.98$1.08$1.90$1.08$0.74$0.34
2013Summary only. Only limited summary data is available for this year.$2.80$1.24$1.56$0.86$0.64$0.22
2012Summary only. Only limited summary data is available for this year.$2.01$0.67$1.34$0.79$0.51$0.28
2011Summary only. Only limited summary data is available for this year.$2.02$0.96$1.06$0.58$0.54$0.03