Civic Intelligence

Odessa Industrial Development Corporation

990 • Fiscal year 2022 • EIN 75-1320228

Jul 01, 2021 to Jun 30, 2022 • Filed on Aug 09, 2022

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.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2022

Net Margin

100th percentile

925%

Higher net margin than 100% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Asset Growth

17th percentile

-12%

Faster asset growth than 17% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets7th percentile

Assets

Down

$16,813,244

Down $2,319,987 (-12%) from 2021

Net Assets

Down

$16,761,155

Down $2,220,881 (-12%) from 2021

Liabilities

Down

$52,089

Down $99,106 (-66%) from 2021

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$240,165

Down $2,573,931 (-110%) from 2021

Expenses

Up

$1,980,717

Up $886,548 (+81%) from 2021

Net Income

Down

-$2,220,882

Down $3,460,479 (-279%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2022

Assets$16,813,244
Liabilities$52,089
Net Assets$16,761,155
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2022

Revenue-$240,165
Expenses$1,980,717
Net Income-$2,220,882
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Aug 9, 2022
Return Version
2021v4.1
Gross Receipts
$24,962,429
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
Savings and Temporary Cash Investments$930,253$4,557,822▲ $3,627,569
Investments in Publicly Traded Securities$12,474,683$4,181,596▼ $8,293,087
Cash and Non-Interest-Bearing Accounts$178,380$3,227,133▲ $3,048,753
Land, Buildings, and Equipment, Net$2,031,482$1,860,543▼ $170,939
Accounts Receivable$18,760$3,648▼ $15,112
Other Notes and Loans Receivable, Net$0$0→ $0
Total Assets$19,133,231$16,813,244▼ $2,319,987
Other Assets Total$3,499,673$2,982,502▼ $517,171
Liabilities
Accounts Payable and Accrued Expenses$151,195$52,089▼ $99,106
Deferred Revenue$0$0→ $0
Total Liabilities$151,195$52,089▼ $99,106
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$18,982,036$16,761,155▼ $2,220,881
Total Net Assets Fund Balance$18,982,036$16,761,155▼ $2,220,881
Total Liabilities and Net Assets / Fund Balance$19,133,231$16,813,244▼ $2,319,987

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$15,000-
Equipment$6,372--
Leasehold Improvements$1,854,171$781,731-
Other Assets Org$2,982,502--
Compensation and Service Providers
Top Officer Pay8th 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
$-1,818,666
Other Revenue
$1,578,501
All Other Contributions
$0
Change in Net Assets
$-2,220,882

Audited Revenue Reconciliation

Revenue per Audited Statements
$-240,164
Revenue Not Reported on Financial Statements
$-1
Revenue Not Reported on Form 990
$-14,126
Other Revenue Adjustments
$-1
Total Revenue per Audited Statements
$-254,290
Total Revenue per Form 990
$-240,165
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,081,000
Other Expenses$899,717
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,081,000--$1,081,000
Depreciation Depletion$0$170,939$0$170,939
Fees for Services Legal$0$44,935$0$44,935
Office Expenses$0$29,237$0$29,237
Fees for Services Management$0$8,556$0$8,556
Fees for Services Accounting$0$6,375$0$6,375
Other Expenses$0$3,208$0$3,208
Travel$0$685$0$685
Total Functional Expenses$1,615,472$365,245$0$1,980,717

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,980,717
Expenses per Audited Statements$1,966,591
Total Expenses per Audited Statements$1,966,591
Expenses Not Reported on Financial Statements$14,126
Other Expense Adjustments$14,126
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Odessa CollegeOdessa, TX-Scholarships$526,000
Ellen Noel Art MuseumOdessa, TX-Building$400,000
Odessans for EducationOdessa, TX-Advertising Campaign$100,000
Texas Tech FoundationLubbock, TX-Scholarships$25,000
University of Texas Permian BasinOdessa, 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
2022-08-09
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 XI, Line 4B

“ROUNDING -1.”

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IRS990/PYInvestmentIncomeAmt02170345
IRS990/PYOtherExpensesAmt0669169
IRS990/PYOtherRevenueAmt0163421
IRS990/PYRevenuesLessExpensesAmt01239597
IRS990/PYTotalExpensesAmt01094169
IRS990/PYTotalRevenueAmt02333766
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-2220882
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0115238
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt03426
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt03426
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0930253
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04557822
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06372
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt06372
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt014126
IRS990ScheduleD/ExpensesSubtotalAmt01966591
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01854171
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0781731
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02635902
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02982502
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ODESSA INDUSTRIAL PARK
IRS990ScheduleD/OtherExpensesNotIncludedAmt014126
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt015000
IRS990ScheduleD/OtherRevenueAmt0-14126
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-1
IRS990ScheduleD/RevenueNotReportedAmt0-14126
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-1
IRS990ScheduleD/RevenueSubtotalAmt0-240164
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 -1.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XI, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01860543
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02982502
IRS990ScheduleD/TotalExpensesPerForm990Amt01980717
IRS990ScheduleD/TotalRevenuePerForm990Amt0-240165
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0-254290
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01966591
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt05000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0CASH DONATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/CashGrantAmt1526000
IRS990ScheduleI/RecipientTable/CashGrantAmt225000
IRS990ScheduleI/RecipientTable/CashGrantAmt325000
IRS990ScheduleI/RecipientTable/CashGrantAmt4400000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ADVERTISING CAMPAIGN
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4BUILDING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ODESSANS FOR EDUCATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ODESSA COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2TEXAS TECH FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3UNIVERSITY OF TEXAS PERMIAN BASIN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4ELLEN NOEL ART MUSEUM
IRS990ScheduleI/RecipientTable/RecipientEIN0831663586
IRS990ScheduleI/RecipientTable/RecipientEIN1752655037
IRS990ScheduleI/RecipientTable/RecipientEIN2752668014
IRS990ScheduleI/RecipientTable/RecipientEIN3751393493
IRS990ScheduleI/RecipientTable/RecipientEIN4751614818
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 14315
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1201 W UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23601 4TH STREET MS 6238
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt34901 E UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt44909 E UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2LUBBOCK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm4ODESSA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd079768
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd179764
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd279430
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd379762
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd479762
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0CASH DONATION MADE TO KATHI VAUGHN FOR SON'S FUNERAL EXPENSES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt III, col (b)
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt05
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/TotalAssetsBOYAmt019133231
IRS990/TotalAssetsEOYAmt016813244
IRS990/TotalAssetsGrp/BOYAmt019133231
IRS990/TotalAssetsGrp/EOYAmt016813244
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0365245
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01615472
IRS990/TotalFunctionalExpensesGrp/TotalAmt01980717
IRS990/TotalGrossUBIAmt00
IRS990/TotalJointCostsGrp/FundraisingAmt00
IRS990/TotalJointCostsGrp/ManagementAndGeneralAmt00
IRS990/TotalJointCostsGrp/ProgramServicesAmt00
IRS990/TotalJointCostsGrp/TotalAmt00
IRS990/TotalLiabilitiesBOYAmt0151195
IRS990/TotalLiabilitiesEOYAmt052089
IRS990/TotalLiabilitiesGrp/BOYAmt0151195
IRS990/TotalLiabilitiesGrp/EOYAmt052089
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt018982036

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,813,244
Liabilities
$52,089
Net assets
$16,761,155
Revenue
-$240,165
Expenses
$1,980,717
Net income
-$2,220,882
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
2022Detailed filing. Detailed filing data is available for this year.$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
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