Civic Intelligence

Odessa Industrial Development Corporation

990 • Fiscal year 2015 • EIN 75-1320228

Jul 01, 2014 to Jun 30, 2015 • Filed on Aug 05, 2015

Organization ProfileN/A
PO Box 3626Odessa, TX 79760-3626

(432) 333-7881

Siviq Scores

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

Liabilities / Assets

12th percentile

0.05x

Higher debt load relative to assets than 12% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

34th percentile

0.25x

Higher debt load relative to revenue than 34% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Net Margin

4th percentile

-31%

Higher net margin than 4% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

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.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2015

Asset Growth

14th percentile

-6.0%

Faster asset growth than 14% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

4th percentile

-40%

Faster revenue growth than 4% of similar nonprofits.

2015 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$13,164,767

Down $834,415 (-6.0%) from 2014

Net Assets

Down

$12,562,193

Down $1,393,158 (-10.0%) from 2014

Liabilities

Up

$602,574

Up $558,743 (+1275%) from 2014

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin4th percentile

Revenue

Down

$2,411,338

Down $1,593,820 (-40%) from 2014

Expenses

Up

$3,164,459

Up $2,417,651 (+324%) from 2014

Net Income

Down

-$753,121

Down $4,011,471 (-123%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $6,425,168Liabilities 2011: $136,096Net Assets 2011: $6,289,0722011Assets 2013: $10,169,709Liabilities 2013: $67,140Net Assets 2013: $10,102,5692013Assets 2014: $13,999,182Liabilities 2014: $43,831Net Assets 2014: $13,955,3512014Assets 2015: $13,164,767Liabilities 2015: $602,574Net Assets 2015: $12,562,1932015Assets 2016: $12,314,240Liabilities 2016: $19,654Net Assets 2016: $12,294,5862016Assets 2018: $15,213,282Liabilities 2018: $891,320Net Assets 2018: $14,321,9622018Assets 2019: $16,859,482Liabilities 2019: $72,950Net Assets 2019: $16,786,5322019Assets 2021: $19,133,231Liabilities 2021: $151,195Net Assets 2021: $18,982,0362021Assets 2022: $16,813,244Liabilities 2022: $52,089Net Assets 2022: $16,761,1552022Assets 2023: $18,055,476Liabilities 2023: $43,173Net Assets 2023: $18,012,3032023Assets 2025: $19,439,501Liabilities 2025: $24,338Net Assets 2025: $19,415,1632025

Highlighted filing

2015

Assets$13,164,767
Liabilities$602,574
Net Assets$12,562,193
Open 2015 Filing

Operations Trend

Revenue Growth4th percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2011: $224,3482011Expenses 2013: $927,8952013Revenue 2014: $4,005,158Expenses 2014: $746,808Net Income 2014: $3,258,3502014Revenue 2015: $2,411,338Expenses 2015: $3,164,459Net Income 2015: -$753,1212015Revenue 2016: $695,286Expenses 2016: $297,247Net Income 2016: $398,0392016Revenue 2018: $2,576,307Expenses 2018: $1,446,593Net Income 2018: $1,129,7142018Revenue 2019: $3,378,284Expenses 2019: $742,436Net Income 2019: $2,635,8482019Revenue 2021: $2,333,766Expenses 2021: $1,094,169Net Income 2021: $1,239,5972021Revenue 2022: -$240,165Expenses 2022: $1,980,717Net Income 2022: -$2,220,8822022Revenue 2023: $1,677,957Expenses 2023: $426,809Net Income 2023: $1,251,1482023Revenue 2025: $2,514,705Expenses 2025: $1,398,358Net Income 2025: $1,116,3472025

Highlighted filing

2015

Revenue$2,411,338
Expenses$3,164,459
Net Income-$753,121
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Aug 5, 2015
Return Version
2014v5.0
Gross Receipts
$2,523,559
Mission and Program Overview

Mission

The activities of the organization are the development and sale of real estate along with promoting and encouraging the development of industry within the permian basin.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,265,909$10,105,960▼ $159,949
Savings and Temporary Cash Investments$1,184,589$784,812▼ $399,777
Cash and Non-Interest-Bearing Accounts$472,635$325,048▼ $147,587
Land, Buildings, and Equipment, Net$109,354$95,125▼ $14,229
Accounts Receivable$2,760$2,108▼ $652
Total Assets$13,999,182$13,164,767▼ $834,415
Other Assets Total$1,963,935$1,851,714▼ $112,221
Liabilities
Accounts Payable and Accrued Expenses$18,831$602,574▲ $583,743
Unsecured Notes Loans Payable$25,000--
Total Liabilities$43,831$602,574▲ $558,743
Net Assets / Fund Balance
Unrestricted Net Assets$13,955,351$12,562,193▼ $1,393,158
Total Net Assets Fund Balance$13,955,351$12,562,193▼ $1,393,158
Total Liabilities and Net Assets / Fund Balance$13,999,182$13,164,767▼ $834,415

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$95,125$118,308$213,433
Other Assets Org$1,851,714--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
David DureePresident
Craig Van AmburghV. President
Scott JonesSecretary
Austin KeithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,367,976
Other Revenue
$43,362
Change in Net Assets
$-753,121

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,411,338
Total Revenue per Audited Statements
$2,411,338
Total Revenue per Form 990
$2,411,338
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,700,000
Other Expenses$1,464,459
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,700,000--$1,700,000
Fees for Services Legal$115,600--$115,600
Other Expenses$53,565--$53,565
Office Expenses$15,126--$15,126
Depreciation Depletion$14,229--$14,229
Fees for Services Accounting$4,600--$4,600
Insurance$3,725--$3,725
Occupancy$970--$970
Total Functional Expenses$3,164,459$0$0$3,164,459

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,164,459
Total Expenses per Audited Statements$3,164,459
Total Expenses per Form 990$3,164,459
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Texas Permian BasinOdessa, TX-Schlorships$1,025,000
Texas Tech FoundationLubbock, TX-Schlorships$125,000
Odessa CollegeOdessa, TX-Schlorships$50,000
West Texas Food BankOdessa, TX-Capital Campaign-
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
Filing and Contact Details

Filer

Filer Name
Odessa Industrial Development Corporation
EIN
75-1320228
Phone
4323337881
Address
PO BOX 3626, ODESSA, TX 79760-3626

Signing Officer

Name
Scott Jones
Title
Secretary
Phone
4323337881
Signed
2015-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Jones
Formed
1966
Legal Domicile
TX
Voting Board Members
27
Independent Board Members
27
Employees
0
Volunteers
63

Preparer

Firm
Ron Kirby CPA
Address
2626 JBS PKWY STE B 200, ODESSA, TX 79761-1957
Preparer
Ron Kirby CPA
Phone
4325502708
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form990 is made available at the board meeting, where”

Pt VI, Line 11B

“Board members can ask questions or make comments about”

Pt VI, Line 11B

“THE 990.”

Form 990EZ, Part II, Line 24

“Accounts receivable - net inventories investments deposit-escrow deposits - utility”

Form 990EZ, Part II, Line 26

“Accounts payable & accrued expenses”

Raw XML Appendix329 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM990 IS MADE AVAILABLE AT THE BOARD MEETING, WHERE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS CAN ASK QUESTIONS OR MAKE COMMENTS ABOUT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACCOUNTS RECEIVABLE - NET INVENTORIES INVESTMENTS DEPOSIT-ESCROW DEPOSITS - UTILITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACCOUNTS PAYABLE & ACCRUED EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990EZ, Part II, Line 26
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IRS990/TotalJointCostsGrp/ProgramServicesAmt00
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IRS990/TotalLiabilitiesEOYAmt0602574
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IRS990/TotalRevenueGrp/ExclusionAmt01726549
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0684789
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02411338
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt025000
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IRS990/USAddress/ZIPCd0797603626
IRS990/VotingMembersGoverningBodyCnt027
IRS990/VotingMembersIndependentCnt027
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum04323337881
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ODESSA INDUSTRIAL DEVELOPMENT CORPORATION
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ODESSA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RON KIRBY CPA
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ReturnHeader/ReturnTs02015-08-11T14:35:39-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,164,767
Liabilities
$602,574
Net assets
$12,562,193
Revenue
$2,411,338
Expenses
$3,164,459
Net income
-$753,121
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.4$0.02$19.4$2.51$1.40$1.12
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.1$0.04$18.0$1.68$0.43$1.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.8$0.05$16.8$0.24$1.98$2.22
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.1$0.15$19.0$2.33$1.09$1.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.9$0.07$16.8$3.38$0.74$2.64
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.2$0.89$14.3$2.58$1.45$1.13
2016Detailed filing. Detailed filing data is available for this year.$12.3$0.02$12.3$0.70$0.30$0.40
2015Detailed filing. Detailed filing data is available for this year.$13.2$0.60$12.6$2.41$3.16$0.75
2014Detailed filing. Detailed filing data is available for this year.$14.0$0.04$14.0$4.01$0.75$3.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$0.07$10.1$0.93
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.43$0.14$6.29$0.22