Civic Intelligence

South Plains Economic Development

990 • Fiscal year 2023 • EIN 75-2349231

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 05, 2024

1323 58th StreetLubbock, TX 79412

(806) 762-8721

Siviq Scores

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

Liabilities / Assets

96th percentile

1.00x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.23x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

46th percentile

0.0%

Higher net margin than 46% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$16,610

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

3rd percentile

-71%

Faster asset growth than 3% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

17th percentile

-20%

Faster revenue growth than 17% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$44,290

Down $108,310 (-71%) from 2022

Net Assets

Flat

$0

Flat from 2022

Liabilities

Down

$44,290

Down $108,310 (-71%) from 2022

Revenue

Down

$196,614

Down $47,641 (-20%) from 2022

Expenses

Down

$196,614

Down $47,641 (-20%) from 2022

Net Income

Flat

$0

Flat from 2022

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2011: $25,625Liabilities 2011: $25,6252011Assets 2012: $92,837Liabilities 2012: $92,8372012Assets 2013: $49,961Liabilities 2013: $49,9612013Assets 2014: $24,779Liabilities 2014: $24,7792014Assets 2015: $45,125Liabilities 2015: $45,1252015Assets 2016: $0Liabilities 2016: $02016Assets 2017: $91,594Liabilities 2017: $91,5942017Assets 2018: $85,770Liabilities 2018: $85,7702018Assets 2019: $44,744Liabilities 2019: $44,7442019Assets 2020: $94,299Liabilities 2020: $94,2992020Assets 2021: $37,161Liabilities 2021: $37,161Net Assets 2021: $02021Assets 2022: $152,600Liabilities 2022: $152,600Net Assets 2022: $02022Assets 2023: $44,290Liabilities 2023: $44,290Net Assets 2023: $02023Assets 2024: $53,040Liabilities 2024: $53,040Net Assets 2024: $02024

Highlighted filing

2023

Assets$44,290
Liabilities$44,290
Net Assets$0

Operations Trend

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

$300K$200K$100K$0Revenue 2011: $96,290Expenses 2011: $96,290Net Income 2011: $02011Revenue 2012: $83,293Expenses 2012: $83,293Net Income 2012: $02012Revenue 2013: $72,215Expenses 2013: $72,215Net Income 2013: $02013Revenue 2014: $72,449Expenses 2014: $72,449Net Income 2014: $02014Revenue 2015: $79,436Expenses 2015: $79,436Net Income 2015: $02015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016Revenue 2017: $86,060Expenses 2017: $86,060Net Income 2017: $02017Revenue 2018: $134,555Expenses 2018: $134,555Net Income 2018: $02018Revenue 2019: $74,119Expenses 2019: $74,119Net Income 2019: $02019Revenue 2020: $135,334Expenses 2020: $135,334Net Income 2020: $02020Revenue 2021: $186,065Expenses 2021: $186,065Net Income 2021: $02021Revenue 2022: $244,255Expenses 2022: $244,255Net Income 2022: $02022Revenue 2023: $196,614Expenses 2023: $196,614Net Income 2023: $02023Revenue 2024: $118,427Expenses 2024: $118,427Net Income 2024: $02024

Highlighted filing

2023

Revenue$196,614
Expenses$196,614
Net Income$0
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 5, 2024
Return Version
2022v5.0
Gross Receipts
$196,614
Mission and Program Overview

Mission

To assist and coordinate economic planning efforts of state and local governments and local economic development organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$97,534$44,040▼ $53,494
Cash and Non-Interest-Bearing Accounts$55,066$250▼ $54,816
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$152,600$44,290▼ $108,310
Liabilities
Other Liabilities$151,736$42,403▼ $109,333
Accounts Payable and Accrued Expenses$864$1,887▲ $1,023
Total Liabilities$152,600$44,290▼ $108,310
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$152,600$44,290▼ $108,310
Compensation and Service Providers

Employees

NameTitleOtherTotal
Tim C PierceExecutive Director$16,610$16,610

Board Members and Trustees

NameTitle
Mike BraddockChair
Justin BalderasVice President
Danny SolizDirector
David RushingDirector
Duane DanielDirector
Gina KellyDirector
Jrhett ParkerDirector
Kevin BrendleDirector
Kristi AdayDirector
Ramon SanchezDirector
Ryan CroweDirector
Taysha WilliamsDirector
Carla HollandSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$196,538
Program Service Revenue
$0
Investment Income
$76
Other Revenue
$0
All Other Contributions
$30,925
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$196,614
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$173,638--$173,638
Office Expenses$12,759--$12,759
Other Expenses$3,000--$3,000
Occupancy$2,478--$2,478
Fees for Services Accounting$2,200--$2,200
Conferences and Meetings$1,989--$1,989
Advertising$325--$325
Fees for Services Other$225--$225
Total Functional Expenses$196,614$0$0$196,614
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to South Plains Association of Governments$42,403
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

South plains association of governments manages the south plains economic development district

Form 990, Part VI, Section A, Line 7A

South plains association of governments appoints the board of directors of the south plains economic development district

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the director of finance of the south plains association of governments and by the executive director of the south plains economic development district before signing and filing. The form 990 is available for the board to review and is provided upon request.

Form 990, Part VI, Section B, Line 15

The south plains economic development district does not have its own employees, but reimburses the south plains association of governments for the staff that manage the district's operations.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request.

Form 990, Part VII, Section A - Executive Director Salary

The executive director of the south plains economic development district is a paid employee of the related organization, south plains association of governments. One of the employee's duties is to serve as executive director of the filing organization. The amount shown represents the allocated portion of the employee's salary that is allocable to their duties as executive director of the south plains economic development district.

Filing and Contact Details

Filer

Filer Name
South Plains Economic Development
EIN
75-2349231
Phone
8067628721
Address
1323 58TH STREET, LUBBOCK, TX 79412

Signing Officer

Name
Tim C Pierce
Title
Executive Director
Phone
8067628721
Signed
2024-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim C Pierce
Formed
1990
Legal Domicile
TX
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Pattillo Brown & Hill Llp
Address
P O BOX 20725, WACO, TX 76702-0725
Preparer
Sharon M Herwald CPA
Phone
2547724901
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Economic development consultants: program service expenses 225. Management and general expenses 0. Fundraising expenses 0. Total expenses 225.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOUTH PLAINS ASSOCIATION OF GOVERNMENTS MANAGES THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SOUTH PLAINS ASSOCIATION OF GOVERNMENTS APPOINTS THE BOARD OF DIRECTORS OF THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE DIRECTOR OF FINANCE OF THE SOUTH PLAINS ASSOCIATION OF GOVERNMENTS AND BY THE EXECUTIVE DIRECTOR OF THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT BEFORE SIGNING AND FILING. THE FORM 990 IS AVAILABLE FOR THE BOARD TO REVIEW AND IS PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT DOES NOT HAVE ITS OWN EMPLOYEES, BUT REIMBURSES THE SOUTH PLAINS ASSOCIATION OF GOVERNMENTS FOR THE STAFF THAT MANAGE THE DISTRICT'S OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE DIRECTOR OF THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT IS A PAID EMPLOYEE OF THE RELATED ORGANIZATION, SOUTH PLAINS ASSOCIATION OF GOVERNMENTS. ONE OF THE EMPLOYEE'S DUTIES IS TO SERVE AS EXECUTIVE DIRECTOR OF THE FILING ORGANIZATION. THE AMOUNT SHOWN REPRESENTS THE ALLOCATED PORTION OF THE EMPLOYEE'S SALARY THAT IS ALLOCABLE TO THEIR DUTIES AS EXECUTIVE DIRECTOR OF THE SOUTH PLAINS ECONOMIC DEVELOPMENT DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ECONOMIC DEVELOPMENT CONSULTANTS: PROGRAM SERVICE EXPENSES 225. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 225.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VII, SECTION A - EXECUTIVE DIRECTOR SALARY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0751285200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0POLITICAL SUBDIVISIO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOCAL ASSOCIATION OF GOVERNMENTS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01323 58TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LUBBOCK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd079412
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt045194
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1151421
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ALLOCATED SHARED COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ACTUAL DIRECT COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SOUTH PLAINS ASSOCIATION OF GOVERNMENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SOUTH PLAINS ASSOCIATION OF GOVERNMENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0152600
IRS990/TotalAssetsEOYAmt044290
IRS990/TotalAssetsGrp/BOYAmt0152600
IRS990/TotalAssetsGrp/EOYAmt044290
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0196538
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0196614
IRS990/TotalFunctionalExpensesGrp/TotalAmt0196614
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0152600
IRS990/TotalLiabilitiesEOYAmt044290
IRS990/TotalLiabilitiesGrp/BOYAmt0152600
IRS990/TotalLiabilitiesGrp/EOYAmt044290
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0196614
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt076
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0196614
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0152600
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt044290
IRS990/TotReportableCompRltdOrgAmt016610
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01323 58TH STREET
IRS990/USAddress/CityNm0LUBBOCK
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd079412
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM C PIERCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08067628721
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH PLAINS ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DISTRICT
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0752349231
ReturnHeader/Filer/PhoneNum08067628721
ReturnHeader/Filer/USAddress/AddressLine1Txt01323 58TH STREET
ReturnHeader/Filer/USAddress/CityNm0LUBBOCK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd079412
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0741130599
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PATTILLO BROWN & HILL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 20725
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0767020725
ReturnHeader/PreparerPersonGrp/PhoneNum02547724901
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHARON M HERWALD CPA
ReturnHeader/ReturnTs02024-08-14T07:59:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.53$0.53$0.00$1.18$1.18$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.44$0.44$0.00$1.97$1.97$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.53$1.53$0.00$2.44$2.44$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.37$0.37$0.00$1.86$1.86$0.00
2020Summary only. Only limited summary data is available for this year.$0.94$0.94$1.35$1.35$0.00
2019Summary only. Only limited summary data is available for this year.$0.45$0.45$0.74$0.74$0.00
2018Summary only. Only limited summary data is available for this year.$0.86$0.86$1.35$1.35$0.00
2017Summary only. Only limited summary data is available for this year.$0.92$0.92$0.86$0.86$0.00
2016Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2015Summary only. Only limited summary data is available for this year.$0.45$0.45$0.79$0.79$0.00
2014Summary only. Only limited summary data is available for this year.$0.25$0.25$0.72$0.72$0.00
2013Summary only. Only limited summary data is available for this year.$0.50$0.50$0.72$0.72$0.00
2012Summary only. Only limited summary data is available for this year.$0.93$0.93$0.83$0.83$0.00
2011Summary only. Only limited summary data is available for this year.$0.26$0.26$0.96$0.96$0.00