Civic Intelligence

Olney Industrial Development Corporation

990 • Fiscal year 2019 • EIN 75-2358407

Oct 01, 2018 to Sep 30, 2019 • Filed on Aug 16, 2020

Organization ProfileWWW.OLNEYTEXAS.COM
108 E Main StreetOlney, TX 76374

(940) 564-5879

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

22nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Net Margin

87th percentile

22%

Higher net margin than 87% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

51st percentile

$53,000

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 28.7% of source-year revenue.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Asset Growth

50th percentile

5.5%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

66th percentile

8.7%

Faster revenue growth than 66% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$775,912

Up $40,509 (+5.5%) from 2018

Net Assets

Up

$775,912

Up $40,509 (+5.5%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin87th percentile

Revenue

Up

$184,736

Up $14,856 (+8.7%) from 2018

Expenses

Down

$144,227

Down $3,546 (-2.4%) from 2018

Net Income

Up

$40,509

Up $18,402 (+83%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$1.0M$500K$0Assets 2011: $774,793Liabilities 2011: $56Net Assets 2011: $774,7372011Assets 2012: $717,066Liabilities 2012: $0Net Assets 2012: $717,0662012Assets 2013: $787,885Liabilities 2013: $379Net Assets 2013: $787,5062013Assets 2014: $758,247Liabilities 2014: $0Net Assets 2014: $758,2472014Assets 2015: $696,318Liabilities 2015: $0Net Assets 2015: $696,3182015Assets 2016: $681,176Liabilities 2016: $0Net Assets 2016: $681,1762016Assets 2017: $713,296Liabilities 2017: $0Net Assets 2017: $713,2962017Assets 2018: $735,403Liabilities 2018: $0Net Assets 2018: $735,4032018Assets 2019: $775,912Liabilities 2019: $0Net Assets 2019: $775,9122019Assets 2020: $851,764Liabilities 2020: $0Net Assets 2020: $851,7642020Assets 2021: $892,893Liabilities 2021: $0Net Assets 2021: $892,8932021Assets 2022: $943,106Liabilities 2022: $0Net Assets 2022: $943,1062022

Highlighted filing

2019

Assets$775,912
Liabilities$0
Net Assets$775,912
Open 2019 Filing

Operations Trend

Revenue Growth66th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $233,830Expenses 2011: $231,752Net Income 2011: $2,0782011Revenue 2012: $74,355Expenses 2012: $132,026Net Income 2012: -$57,6712012Revenue 2013: $219,908Expenses 2013: $149,468Net Income 2013: $70,4402013Revenue 2014: $183,718Expenses 2014: $212,977Net Income 2014: -$29,2592014Revenue 2015: $134,962Expenses 2015: $196,891Net Income 2015: -$61,9292015Revenue 2016: $139,799Expenses 2016: $154,941Net Income 2016: -$15,1422016Revenue 2017: $147,487Expenses 2017: $115,367Net Income 2017: $32,1202017Revenue 2018: $169,880Expenses 2018: $147,773Net Income 2018: $22,1072018Revenue 2019: $184,736Expenses 2019: $144,227Net Income 2019: $40,5092019Revenue 2020: $199,853Expenses 2020: $124,001Net Income 2020: $75,8522020Revenue 2021: $160,162Expenses 2021: $119,033Net Income 2021: $41,1292021Revenue 2022: $182,154Expenses 2022: $131,941Net Income 2022: $50,2132022

Highlighted filing

2019

Revenue$184,736
Expenses$144,227
Net Income$40,509
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Aug 16, 2020
Return Version
2018v3.2
Gross Receipts
$184,736
Mission and Program Overview

Mission

Enhance the strength and stability of the olney economy through the support of existing industry and the attraction of manufacturing and service sector business which brings new cpaital and employment opportunites into the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$659,997$696,476▲ $36,479
Land, Buildings, and Equipment, Net$56,431$56,431→ $0
Cash and Non-Interest-Bearing Accounts$726$1,514▲ $788
Total Assets$735,403$775,912▲ $40,509
Other Assets Total$18,249$21,491▲ $3,242
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$735,403$775,912▲ $40,509
Total Net Assets Fund Balance$735,403$775,912▲ $40,509
Total Liabilities and Net Assets / Fund Balance$735,403$775,912▲ $40,509

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$47,500-$47,500
Equipment$9,072-$9,072
Land$8,931-$8,931
Other Land Buildings$-9,072$9,072-
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wiley HugheyExecutive DiFT$53,000$53,000

Board Members and Trustees

NameTitle
Franklin FischerDirector
Jim HirschDirector
Lonnie RueDirector
Mark McclellandDirector
Ronald RogersDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$182,552
Investment Income
$2,184
Other Revenue
$0
Change in Net Assets
$40,509

Audited Revenue Reconciliation

Revenue per Audited Statements
$184,736
Total Revenue per Audited Statements
$184,736
Total Revenue per Form 990
$184,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,675
Salaries, Compensation, and Employee Benefits$65,552
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$53,000
Insurance---$17,562
Other Employee Benefits---$8,461
Payroll Taxes---$4,091
Fees for Services Accounting---$3,600
Occupancy---$2,144
Office Expenses---$2,136
All Other Expenses---$600
Other Expenses---$600
Total Functional Expenses$0$0$0$144,227

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$144,227
Total Expenses per Audited Statements$144,227
Total Expenses per Form 990$144,227
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
Backup withholding compliance
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The directors review copies of the form 990 at a regular scheduled meeting prior to signing and mailing to irs.”

Form 990, Page 6, Part VI, Line 19

“Documents are available for public inspection upon written request.”

Filing and Contact Details

Filer

Filer Name
Olney Industrial Development
EIN
75-2358407
Phone
9405645879
Address
108 E MAIN STREET, OLNEY, TX 76374

Signing Officer

Name
Wiley Hughey
Title
Executive Director
Phone
9405645879
Signed
2020-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wiley Hughey
Formed
1981
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
1

Preparer

Firm
Cris a Lemon CPA
Address
201 CLAY STREET, NOCONA, TX 76255
Preparer
Cris Lemon
Phone
9408253113
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Enhance the strength and stability of the olney economy through the support of existing industry and the attraction of manufacturing and service sector business which brings new cpaital and employment opportunites into the community.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DIRECTORS REVIEW COPIES OF THE FORM 990 AT A REGULAR SCHEDULED MEETING PRIOR TO SIGNING AND MAILING TO IRS.
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRIS A LEMON CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 CLAY STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NOCONA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076255
ReturnHeader/PreparerPersonGrp/PhoneNum09408253113
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRIS LEMON
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-08-17T10:17:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-10-01
ReturnHeader/TaxPeriodEndDt02019-09-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$775,912
Liabilities
$0
Net assets
$775,912
Revenue
$184,736
Expenses
$144,227
Net income
$40,509
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.43$0.00$9.43$1.82$1.32$0.50
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.93$0.00$8.93$1.60$1.19$0.41
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.52$0.00$8.52$2.00$1.24$0.76
2019Detailed filing. Detailed filing data is available for this year.$7.76$0.00$7.76$1.85$1.44$0.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.35$0.00$7.35$1.70$1.48$0.22
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.13$0.00$7.13$1.47$1.15$0.32
2016Detailed filing. Detailed filing data is available for this year.$6.81$0.00$6.81$1.40$1.55$0.15
2015Detailed filing. Detailed filing data is available for this year.$6.96$0.00$6.96$1.35$1.97$0.62
2014Summary only. Only limited summary data is available for this year.$7.58$0.00$7.58$1.84$2.13$0.29
2013Summary only. Only limited summary data is available for this year.$7.88$0.00$7.88$2.20$1.49$0.70
2012Summary only. Only limited summary data is available for this year.$7.17$0.00$7.17$0.74$1.32$0.58
2011Summary only. Only limited summary data is available for this year.$7.75$0.00$7.75$2.34$2.32$0.02