Civic Intelligence

Odessa Industrial Development Corporation

990 • Fiscal year 2020 • EIN 75-1320228

Jul 01, 2019 to Jun 30, 2020 • Filed on Jul 29, 2020

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

(432) 333-7886

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

8th percentile

0.03x

Higher debt load relative to revenue than 8% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Net Margin

97th percentile

58%

Higher net margin than 97% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

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.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Asset Growth

37th percentile

1.5%

Faster asset growth than 37% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

9th percentile

-44%

Faster revenue growth than 9% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$17,108,652

Up $249,170 (+1.5%) from 2019

Net Assets

Up

$17,049,481

Up $262,949 (+1.6%) from 2019

Liabilities

Down

$59,171

Down $13,779 (-19%) from 2019

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin97th percentile

Revenue

Down

$1,884,601

Down $1,493,683 (-44%) from 2019

Expenses

Up

$794,546

Up $52,110 (+7.0%) from 2019

Net Income

Down

$1,090,055

Down $1,545,793 (-59%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth37th 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 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 2020: $17,108,652Liabilities 2020: $59,171Net Assets 2020: $17,049,4812020Assets 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

2020

Assets$17,108,652
Liabilities$59,171
Net Assets$17,049,481
Open 2020 Filing

Operations Trend

Revenue Growth9th 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 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 2020: $1,884,601Expenses 2020: $794,546Net Income 2020: $1,090,0552020Revenue 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

2020

Revenue$1,884,601
Expenses$794,546
Net Income$1,090,055
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jul 29, 2020
Return Version
2019v5.1
Gross Receipts
$1,884,601
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$12,386,839$10,819,220▼ $1,567,619
Land, Buildings, and Equipment, Net$2,373,529$2,202,421▼ $171,108
Savings and Temporary Cash Investments$334,261$363,432▲ $29,171
Accounts Receivable$2,260$101,280▲ $99,020
Cash and Non-Interest-Bearing Accounts$18,381$85,559▲ $67,178
Other Notes and Loans Receivable, Net$0$0→ $0
Total Assets$16,859,482$17,108,652▲ $249,170
Other Assets Total$1,744,212$3,536,740▲ $1,792,528
Liabilities
Accounts Payable and Accrued Expenses$72,950$56,421▼ $16,529
Deferred Revenue-$2,750-
Total Liabilities$72,950$59,171▼ $13,779
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,786,532$17,049,481▲ $262,949
Total Net Assets Fund Balance$16,786,532$17,049,481▲ $262,949
Total Liabilities and Net Assets / Fund Balance$16,859,482$17,108,652▲ $249,170

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$15,000-
Equipment$6,372--
Leasehold Improvements$2,196,049$439,853-
Other Assets Org$3,536,740--
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
David BoutinPast President
Jim BreauxPresident
Dr James GoatsVice President
Tracy JonesAsst. Secretary
Wesley BurnettSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$0
Investment Income
$721,471
Other Revenue
$1,162,130
All Other Contributions
$0
Change in Net Assets
$1,090,055

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,884,601
Revenue Not Reported on Form 990
$-945,562
Total Revenue per Audited Statements
$939,039
Total Revenue per Form 990
$1,884,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$708,546
Grants and Similar Amounts Paid$86,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$0$265,097$0$265,097
Depreciation Depletion$0$171,108$0$171,108
Other Expenses$118,457$0$0$118,457
Grants to Domestic Orgs$86,000--$86,000
Occupancy$20,775$0$0$20,775
Office Expenses$0$15,022$0$15,022
Fees for Services Accounting$0$6,350$0$6,350
Insurance$0$4,057$0$4,057
Fees for Services Management$0$1,351$0$1,351
Total Functional Expenses$274,507$520,039$0$794,546

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$794,546
Expenses per Audited Statements$676,089
Total Expenses per Audited Statements$676,089
Expenses Not Reported on Financial Statements$118,457
Other Expense Adjustments$118,457
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Texas Permian BasinOdessa, TX-Scholarships$35,000
Odessa CollegeOdessa, TX-Scholarships$26,000
Texas Tech FoundationLubbock, TX-Scholarships$25,000
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
Audit committee
Yes
Backup withholding compliance
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
Filing and Contact Details

Filer

Filer Name
Odessa Industrial Development Corporation
EIN
75-1320228
Phone
4323337886
Address
PO BOX 3626, ODESSA, TX 79760-3626
Doing Business As
Grow Odessa

Signing Officer

Name
Jim Breaux
Title
President
Phone
4323337886
Signed
2020-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Breaux
Formed
1966
Legal Domicile
TX
Voting Board Members
25
Independent Board Members
25
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.”

Pt XI

“ROUNDING $-1.”

Financial Statement Notes

Pt XI, Line 2D

“Cost of land sold included in the audited revenue, but put in expenses on the return.”

Pt XII, Line 4B

“Cost of land sales was included as expense on return, but as part of revenue in audited financial statements.”

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IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt06372
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0118457
IRS990ScheduleD/ExpensesSubtotalAmt0676089
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02196049
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0439853
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02635902
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-827105
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03536740
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ODESSA INDUSTRIAL PARK
IRS990ScheduleD/OtherExpensesNotIncludedAmt0118457
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt015000
IRS990ScheduleD/OtherRevenueAmt0-118457
IRS990ScheduleD/RevenueNotReportedAmt0-945562
IRS990ScheduleD/RevenueSubtotalAmt01884601
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF LAND SOLD INCLUDED IN THE AUDITED REVENUE, BUT PUT IN EXPENSES ON THE RETURN.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF LAND SALES WAS INCLUDED AS EXPENSE ON RETURN, BUT AS PART OF REVENUE IN AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02202421
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03536740
IRS990ScheduleD/TotalExpensesPerForm990Amt0794546
IRS990ScheduleD/TotalRevenuePerForm990Amt01884601
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0939039
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0676089
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt035000
IRS990ScheduleI/RecipientTable/CashGrantAmt126000
IRS990ScheduleI/RecipientTable/CashGrantAmt225000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0UNIVERSITY OF TEXAS PERMIAN BASIN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ODESSA COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2TEXAS TECH FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0751393493
IRS990ScheduleI/RecipientTable/RecipientEIN1752655037
IRS990ScheduleI/RecipientTable/RecipientEIN2752668014
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04901 E UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1201 W UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23601 4TH STREET MS 6238
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2LUBBOCK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd079762
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd179764
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd279430
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt03
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt3ROUNDING $-1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt016859482
IRS990/TotalAssetsEOYAmt017108652
IRS990/TotalAssetsGrp/BOYAmt016859482
IRS990/TotalAssetsGrp/EOYAmt017108652
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0520039
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0274507
IRS990/TotalFunctionalExpensesGrp/TotalAmt0794546
IRS990/TotalGrossUBIAmt00
IRS990/TotalJointCostsGrp/FundraisingAmt00
IRS990/TotalJointCostsGrp/ManagementAndGeneralAmt00
IRS990/TotalJointCostsGrp/ProgramServicesAmt00
IRS990/TotalJointCostsGrp/TotalAmt00
IRS990/TotalLiabilitiesBOYAmt072950
IRS990/TotalLiabilitiesEOYAmt059171
IRS990/TotalLiabilitiesGrp/BOYAmt072950
IRS990/TotalLiabilitiesGrp/EOYAmt059171
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt016786532
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt017049481
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0274507
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01883601
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01884601
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt063
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016859482
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017108652
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 3626
IRS990/USAddress/CityNm0ODESSA
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd0797603626
IRS990/VotingMembersGoverningBodyCnt025
IRS990/VotingMembersIndependentCnt025
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM BREAUX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04323337886
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ODESSA INDUSTRIAL DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0ODES
ReturnHeader/Filer/EIN0751320228
ReturnHeader/Filer/PhoneNum04323337886
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 3626
ReturnHeader/Filer/USAddress/CityNm0ODESSA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX

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
$17,108,652
Liabilities
$59,171
Net assets
$17,049,481
Revenue
$1,884,601
Expenses
$794,546
Net income
$1,090,055
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
2020Detailed filing. Detailed filing data is available for this year.$17.1$0.06$17.0$1.88$0.79$1.09
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
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