Civic Intelligence

Odessa Industrial Development Corporation

990 • Fiscal year 2023 • EIN 75-1320228

Jul 01, 2022 to Jun 30, 2023 • Filed on Jul 31, 2023

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

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2023 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

8th percentile

0.03x

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

2023 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2023

Net Margin

98th percentile

75%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2023

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.

2023 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2023

Asset Growth

49th percentile

7.4%

Faster asset growth than 49% of similar nonprofits.

2023 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

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

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$18,055,476

Up $1,242,232 (+7.4%) from 2022

Net Assets

Up

$18,012,303

Up $1,251,148 (+7.5%) from 2022

Liabilities

Down

$43,173

Down $8,916 (-17%) from 2022

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin98th percentile

Revenue

Up

$1,677,957

Up $1,918,122 (+799%) from 2022

Expenses

Down

$426,809

Down $1,553,908 (-78%) from 2022

Net Income

Up

$1,251,148

Up $3,472,030 (+156%) from 2022

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

2023

Assets$18,055,476
Liabilities$43,173
Net Assets$18,012,303
Open 2023 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

2023

Revenue$1,677,957
Expenses$426,809
Net Income$1,251,148
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jul 31, 2023
Return Version
2022v5.0
Gross Receipts
$1,556,984
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$4,181,596$7,685,247▲ $3,503,651
Savings and Temporary Cash Investments$4,557,822$5,501,905▲ $944,083
Land, Buildings, and Equipment, Net$1,860,543$1,690,262▼ $170,281
Cash and Non-Interest-Bearing Accounts$3,227,133$232,404▼ $2,994,729
Accounts Receivable$3,648$898▼ $2,750
Other Notes and Loans Receivable, Net$0$0→ $0
Total Assets$16,813,244$18,055,476▲ $1,242,232
Other Assets Total$2,982,502$2,944,760▼ $37,742
Liabilities
Accounts Payable and Accrued Expenses$52,089$43,173▼ $8,916
Deferred Revenue$0$0→ $0
Total Liabilities$52,089$43,173▼ $8,916
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,761,155$18,012,303▲ $1,251,148
Total Net Assets Fund Balance$16,761,155$18,012,303▲ $1,251,148
Total Liabilities and Net Assets / Fund Balance$16,813,244$18,055,476▲ $1,242,232

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$15,000-
Equipment$6,372--
Leasehold Improvements$1,683,890$952,012-
Other Assets Org$2,944,760--
Compensation and Service Providers
Top Officer Pay7th 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
$41,546
Program Service Revenue
$0
Investment Income
$228,128
Other Revenue
$1,408,283
All Other Contributions
$41,546
Change in Net Assets
$1,251,148

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,251,354
Revenue Not Reported on Financial Statements
$426,603
Total Revenue per Audited Statements
$1,251,354
Total Revenue per Form 990
$1,677,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$373,309
Grants and Similar Amounts Paid$53,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$0$170,281$0$170,281
Grants to Domestic Orgs$53,500--$53,500
Fees for Services Legal$0$23,061$0$23,061
Advertising$0$12,484$0$12,484
Office Expenses$0$10,185$0$10,185
Insurance$0$6,963$0$6,963
Fees for Services Accounting$0$5,300$0$5,300
Other Expenses$0$3,995$0$3,995
Travel$0$600$0$600
Fees for Services Management$0$580$0$580
Total Functional Expenses$114,036$312,773$0$426,809

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$426,809
Expenses per Audited Statements$384,093
Total Expenses per Audited Statements$384,093
Expenses Not Reported on Financial Statements$42,716
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Heritage of Odessa FoundationOdessa, TX-1000.-
Odessa CollegeOdessa, TX-25000.0-
Texas Tech FoundationLubbock, TX-25000.0-
University of Texas Permian BasinOdessa, TX-2500.-
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
2023-07-31
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/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt01081000
IRS990/PYInvestmentIncomeAmt0-1818666
IRS990/PYOtherExpensesAmt0899717
IRS990/PYOtherRevenueAmt01578501
IRS990/PYRevenuesLessExpensesAmt0-2220882
IRS990/PYTotalExpensesAmt01980717
IRS990/PYTotalRevenueAmt0-240165
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01251148
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0150628
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt04193
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt04193
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04557822
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05501905
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06372
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt06372
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt042716
IRS990ScheduleD/ExpensesSubtotalAmt0384093
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt042716
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0426603
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01683890
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0952012
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt02635902
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02944760
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ODESSA INDUSTRIAL PARK
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt015000
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0426603
IRS990ScheduleD/RevenueSubtotalAmt01251354
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/TotalBookValueLandBuildingsAmt01690262
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02944760
IRS990ScheduleD/TotalExpensesPerForm990Amt0426809
IRS990ScheduleD/TotalRevenuePerForm990Amt01677957
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01251354
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0384093
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt01000.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt125000.0
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt225000.0
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt32500.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HERITAGE OF ODESSA FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ODESSA COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2TEXAS TECH FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3UNIVERSITY OF TEXAS PERMIAN BASIN
IRS990ScheduleI/RecipientTable/RecipientEIN0751859920
IRS990ScheduleI/RecipientTable/RecipientEIN1752655037
IRS990ScheduleI/RecipientTable/RecipientEIN2752668014
IRS990ScheduleI/RecipientTable/RecipientEIN3751393493
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 3908
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1201 W UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23601 4TH STREET MS 6238
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt34901 E UNIVERSITY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ODESSA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2LUBBOCK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ODESSA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2TX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd079760
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd179764
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd279430
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd379762
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/TotalAssetsBOYAmt016813244
IRS990/TotalAssetsEOYAmt018055476
IRS990/TotalAssetsGrp/BOYAmt016813244
IRS990/TotalAssetsGrp/EOYAmt018055476
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt041546
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0312773
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0114036
IRS990/TotalFunctionalExpensesGrp/TotalAmt0426809
IRS990/TotalGrossUBIAmt00
IRS990/TotalJointCostsGrp/FundraisingAmt00
IRS990/TotalJointCostsGrp/ManagementAndGeneralAmt00
IRS990/TotalJointCostsGrp/ProgramServicesAmt00
IRS990/TotalJointCostsGrp/TotalAmt00
IRS990/TotalLiabilitiesBOYAmt052089
IRS990/TotalLiabilitiesEOYAmt043173
IRS990/TotalLiabilitiesGrp/BOYAmt052089
IRS990/TotalLiabilitiesGrp/EOYAmt043173
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt016761155
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018012303
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01636411
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01677957
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt063
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016813244
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt018055476
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0600
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0600
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,055,476
Liabilities
$43,173
Net assets
$18,012,303
Revenue
$1,677,957
Expenses
$426,809
Net income
$1,251,148
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
2023Detailed filing. Detailed filing data is available for this year.$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
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
Peer Organizations

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