Civic Intelligence

Odessa Industrial Development Corporation

990 • Fiscal year 2021 • EIN 75-1320228

Jul 01, 2020 to Jun 30, 2021 • Filed on Jul 13, 2021

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

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

13th percentile

0.06x

Higher debt load relative to revenue than 13% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Net Margin

94th percentile

53%

Higher net margin than 94% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Asset Growth

49th percentile

12%

Faster asset growth than 49% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

71st percentile

24%

Faster revenue growth than 71% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$19,133,231

Up $2,273,749 (+13%) from 2019

Net Assets

Up

$18,982,036

Up $2,195,504 (+13%) from 2019

Liabilities

Up

$151,195

Up $78,245 (+107%) from 2019

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin94th percentile

Revenue

Down

$2,333,766

Down $1,044,518 (-31%) from 2019

Expenses

Up

$1,094,169

Up $351,733 (+47%) from 2019

Net Income

Down

$1,239,597

Down $1,396,251 (-53%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth49th 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 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

2021

Assets$19,133,231
Liabilities$151,195
Net Assets$18,982,036
Open 2021 Filing

Operations Trend

Revenue Growth71st 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 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

2021

Revenue$2,333,766
Expenses$1,094,169
Net Income$1,239,597
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jul 13, 2021
Return Version
2020v4.1
Gross Receipts
$2,333,766
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$10,819,220$12,474,683▲ $1,655,463
Land, Buildings, and Equipment, Net$2,202,421$2,031,482▼ $170,939
Savings and Temporary Cash Investments$363,432$930,253▲ $566,821
Cash and Non-Interest-Bearing Accounts$85,559$178,380▲ $92,821
Accounts Receivable$101,280$18,760▼ $82,520
Other Notes and Loans Receivable, Net$0$0→ $0
Total Assets$17,108,652$19,133,231▲ $2,024,579
Other Assets Total$3,536,740$3,499,673▼ $37,067
Liabilities
Accounts Payable and Accrued Expenses$56,421$151,195▲ $94,774
Deferred Revenue$2,750$0▼ $2,750
Total Liabilities$59,171$151,195▲ $92,024
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,049,481$18,982,036▲ $1,932,555
Total Net Assets Fund Balance$17,049,481$18,982,036▲ $1,932,555
Total Liabilities and Net Assets / Fund Balance$17,108,652$19,133,231▲ $2,024,579

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$15,000-
Equipment$6,372--
Leasehold Improvements$2,025,110$610,792-
Other Assets Org$3,499,673--
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
-Land Use Committee Chair
Jim BreauxPast President
Dr James GoatesPresident
Eddy SheltonVice President
Tracy JonesAsst. Secretary
Wesley BurnettSecretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,170,345
Other Revenue
$163,421
All Other Contributions
$0
Change in Net Assets
$1,239,597

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,333,764
Revenue Not Reported on Financial Statements
$2
Revenue Not Reported on Form 990
$655,895
Other Revenue Adjustments
$2
Total Revenue per Audited Statements
$2,989,659
Total Revenue per Form 990
$2,333,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$669,169
Grants and Similar Amounts Paid$425,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$425,000--$425,000
Depreciation Depletion$0$170,939$0$170,939
Other Expenses$37,066$0$0$37,066
Office Expenses$0$15,950$0$15,950
Occupancy$14,225$0$0$14,225
Fees for Services Legal$0$12,401$0$12,401
Fees for Services Accounting$0$6,250$0$6,250
Insurance$0$5,772$0$5,772
Fees for Services Management$0$1,006$0$1,006
Total Functional Expenses$772,641$321,528$0$1,094,169

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,094,169
Total Expenses per Audited Statements$1,057,104
Expenses per Audited Statements$1,057,102
Expenses Not Reported on Financial Statements$37,067
Other Expense Adjustments$37,067
Expenses Not Reported on Form 990$2
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Texas Permian BasinOdessa, TX-Building and Scholarships$275,000
Odessa CollegeOdessa, TX-Scholarships$35,000
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
James B Goates
Title
President
Phone
4323337886
Signed
2021-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Goats
Formed
1966
Legal Domicile
TX
Voting Board Members
42
Independent Board Members
42
Employees
0
Volunteers
63

Preparer

Firm
Ron Kirby CPA
Address
2626 JBS PKWY STE B 200, ODESSA, TX 79761
Preparer
Ron Kirby
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 $-4.”

Financial Statement Notes

Pt XI, Line 2D

“Cost of land sold included in the audited revenue, but included 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.”

Pt XII, Line 2D

“ROUNDING +2.”

Pt XI, Line 4B

“ROUNDING +2.”

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IRS990/PYGrantsAndSimilarPaidAmt086000
IRS990/PYInvestmentIncomeAmt0721471
IRS990/PYOtherExpensesAmt0708546
IRS990/PYOtherRevenueAmt01162130
IRS990/PYRevenuesLessExpensesAmt01090055
IRS990/PYTotalExpensesAmt0794546
IRS990/PYTotalRevenueAmt01884601
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01239597
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0136000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt02383
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt02383
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0363432
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0930253
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06372
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt06372
IRS990ScheduleD/ExpensesNotReportedAmt02
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt037067
IRS990ScheduleD/ExpensesSubtotalAmt01057102
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02025110
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0610792
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02635902
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0692962
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03499673
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ODESSA INDUSTRIAL PARK
IRS990ScheduleD/OtherExpensesIncludedAmt02
IRS990ScheduleD/OtherExpensesNotIncludedAmt037067
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt015000
IRS990ScheduleD/OtherRevenueAmt0-37067
IRS990ScheduleD/OtherRevenuesNotIncludedAmt02
IRS990ScheduleD/RevenueNotReportedAmt0655895
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt02
IRS990ScheduleD/RevenueSubtotalAmt02333764
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF LAND SOLD INCLUDED IN THE AUDITED REVENUE, BUT INCLUDED 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/ExplanationTxt2ROUNDING +2.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ROUNDING +2.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XII, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02031482
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03499673
IRS990ScheduleD/TotalExpensesPerForm990Amt01094169
IRS990ScheduleD/TotalRevenuePerForm990Amt02333766
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02989659
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01057104
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0275000
IRS990ScheduleI/RecipientTable/CashGrantAmt135000
IRS990ScheduleI/RecipientTable/CashGrantAmt225000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BUILDING AND SCHOLARSHIPS
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 $-4.
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/TotalAssetsBOYAmt017108652
IRS990/TotalAssetsEOYAmt019133231
IRS990/TotalAssetsGrp/BOYAmt017108652
IRS990/TotalAssetsGrp/EOYAmt019133231
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0321528
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0772641
IRS990/TotalFunctionalExpensesGrp/TotalAmt01094169
IRS990/TotalGrossUBIAmt00
IRS990/TotalJointCostsGrp/FundraisingAmt00
IRS990/TotalJointCostsGrp/ManagementAndGeneralAmt00
IRS990/TotalJointCostsGrp/ProgramServicesAmt00
IRS990/TotalJointCostsGrp/TotalAmt00
IRS990/TotalLiabilitiesBOYAmt059171
IRS990/TotalLiabilitiesEOYAmt0151195
IRS990/TotalLiabilitiesGrp/BOYAmt059171
IRS990/TotalLiabilitiesGrp/EOYAmt0151195
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017049481
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018982036
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0772641
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02333766
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02333766
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt063
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt017108652
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019133231
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,133,231
Liabilities
$151,195
Net assets
$18,982,036
Revenue
$2,333,766
Expenses
$1,094,169
Net income
$1,239,597
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
2021Detailed filing. Detailed filing data is available for this year.$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
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