Civic Intelligence

Gainesville Economic Development Corp

EIN 75-2706606 • 501(c)3 • Gainesville, TX

Profile

To provide economic development incentives and assistance to businesses and industries within the city of gainesville.

200 S RuskGainesville, TX 76240

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

30th percentile

0.05x

Higher debt load relative to assets than 30% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.28x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

85th percentile

39%

Higher net margin than 85% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

65th percentile

9.1%

Faster asset growth than 65% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-32%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$9,630,187

Up $1,250,891 (+15%) from 2022

Liabilities

Down

$370,149

Down $464,371 (-56%) from 2022

Net Assets

Up

$9,260,038

Up $1,715,262 (+23%) from 2022

Operations
Liabilities / Revenue56th percentileNet Margin85th percentile

Revenue

Up

$2,728,953

Up $815,140 (+43%) from 2022

Expenses

Up

$1,013,691

Up $345,510 (+52%) from 2022

Net Income

Up

$1,715,262

Up $469,630 (+38%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth65th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $3,981,814Liabilities 2011: $404,648Net Assets 2011: $3,577,1662011Assets 2012: $4,333,185Liabilities 2012: $397,344Net Assets 2012: $3,935,8412012Assets 2013: $4,025,468Liabilities 2013: $107,112Net Assets 2013: $3,918,3562013Assets 2014: $6,723,736Liabilities 2014: $2,532,615Net Assets 2014: $4,191,1212014Assets 2015: $6,657,210Liabilities 2015: $2,484,523Net Assets 2015: $4,172,6872015Assets 2016: $6,589,849Liabilities 2016: $2,194,065Net Assets 2016: $4,395,7842016Assets 2017: $6,995,245Liabilities 2017: $2,000,657Net Assets 2017: $4,994,5882017Assets 2018: $7,404,148Liabilities 2018: $1,743,272Net Assets 2018: $5,660,8762018Assets 2019: $6,538,323Liabilities 2019: $1,621,316Net Assets 2019: $4,917,0072019Assets 2020: $6,960,737Liabilities 2020: $1,387,471Net Assets 2020: $5,573,2662020Assets 2021: $7,466,716Liabilities 2021: $1,167,572Net Assets 2021: $6,299,1442021Assets 2022: $8,379,296Liabilities 2022: $834,520Net Assets 2022: $7,544,7762022Assets 2023: $9,630,187Liabilities 2023: $370,149Net Assets 2023: $9,260,0382023

Highlighted filing

2023

Assets$9,630,187
Liabilities$370,149
Net Assets$9,260,038
Open 2023 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,022,6702011Expenses 2012: $1,423,8642012Expenses 2013: $1,492,7982013Revenue 2014: $1,712,253Expenses 2014: $1,439,488Net Income 2014: $272,7652014Revenue 2015: $1,455,805Expenses 2015: $1,380,497Net Income 2015: $75,3082015Revenue 2016: $1,776,287Expenses 2016: $1,553,190Net Income 2016: $223,0972016Revenue 2017: $1,400,737Expenses 2017: $801,933Net Income 2017: $598,8042017Revenue 2018: $1,756,926Expenses 2018: $1,079,461Net Income 2018: $677,4652018Revenue 2019: $1,765,240Expenses 2019: $2,509,109Net Income 2019: -$743,8692019Revenue 2020: $1,568,129Expenses 2020: $911,870Net Income 2020: $656,2592020Revenue 2021: $1,357,421Expenses 2021: $631,543Net Income 2021: $725,8782021Revenue 2022: $1,913,813Expenses 2022: $668,181Net Income 2022: $1,245,6322022Revenue 2023: $2,728,953Expenses 2023: $1,013,691Net Income 2023: $1,715,2622023

Highlighted filing

2023

Revenue$2,728,953
Expenses$1,013,691
Net Income$1,715,262
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$9,630,187
Liabilities
$370,149
Net assets
$9,260,038
Revenue
$2,728,953
Expenses
$1,013,691
Net income
$1,715,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$9.63$0.37$9.26$2.73$1.01$1.72
2022Summary only. Only limited summary data is available for this year.$8.38$0.83$7.54$1.91$0.67$1.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.47$1.17$6.30$1.36$0.63$0.73
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.96$1.39$5.57$1.57$0.91$0.66
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.54$1.62$4.92$1.77$2.51$0.74
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.40$1.74$5.66$1.76$1.08$0.68
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.00$2.00$4.99$1.40$0.80$0.60
2016Summary only. Only limited summary data is available for this year.$6.59$2.19$4.40$1.78$1.55$0.22
2015Detailed filing. Detailed filing data is available for this year.$6.66$2.48$4.17$1.46$1.38$0.08
2014Detailed filing. Detailed filing data is available for this year.$6.72$2.53$4.19$1.71$1.44$0.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.11$3.92$1.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.33$0.40$3.94$1.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.98$0.40$3.58$1.02
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Mar 8, 2021
Return Version
2019v5.0
Gross Receipts
$1,584,277
Mission and Program Overview

Mission

To provide economic development incentives and assistance to businesses and industries within the city of gainesville.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,047,933$3,918,998▼ $128,935
Savings and Temporary Cash Investments$1,044,853$1,550,991▲ $506,138
Cash and Non-Interest-Bearing Accounts$1,144,444$1,219,299▲ $74,855
Accounts Receivable$224,606$245,037▲ $20,431
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$6,538,323$6,960,737▲ $422,414
Other Assets Total$76,487$26,412▼ $50,075
Liabilities
Tax Exempt Bond Liabilities$1,343,211$1,149,511▼ $193,700
Other Liabilities$254,485$215,825▼ $38,660
Accounts Payable and Accrued Expenses$23,620$22,135▼ $1,485
Total Liabilities$1,621,316$1,387,471▼ $233,845
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,917,007$5,573,266▲ $656,259
Total Net Assets Fund Balance$4,917,007$5,573,266▲ $656,259
Total Liabilities and Net Assets / Fund Balance$6,538,323$6,960,737▲ $422,414

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,614,626$1,121,767$3,736,393
Land$1,404,032-$1,404,032
Leasehold Improvements$-99,660$184,360$84,700
Equipment-$1,545$1,545
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Audrey SchroyerExecutive DirectorFT$53,654$53,654
Arleene LloydExecutive DirecFT$39,298$39,298

Board Members and Trustees

NameTitle
Tommy JamesPresident
Bob BloomDirector
David MooreDirector
Keith CleggDirector
Phillip NeelleyDirector
Will PressonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,276,886
Program Service Revenue
$0
Investment Income
$9,899
Other Revenue
$281,344
All Other Contributions
$-1,087
Change in Net Assets
$656,259
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$734,335
Salaries, Compensation, and Employee Benefits$177,535
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$103,148$25,787-$128,935
Current Officers, Directors, Trustees, and Key Employees$74,362$18,590-$92,952
Occupancy$57,123$14,281-$71,404
Interest$51,659$12,915-$64,574
Other Salaries and Wages$29,310$7,328-$36,638
Advertising$23,939$5,985-$29,924
Pension Plan Contributions$22,246$5,562-$27,808
Fees for Services Other$13,998$3,500-$17,498
Travel$11,187$2,797-$13,984
Other Employee Benefits$8,404$2,101-$10,505
Insurance$7,749$1,937-$9,686
Payroll Taxes$7,706$1,926-$9,632
All Other Expenses$4,964$1,242-$6,206
Other Expenses$3,310$827-$4,137
Office Expenses$1,844$461-$2,305
Total Functional Expenses$729,495$182,375$0$911,870
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$166,642
Deferred Inflow-pension$32,676
Net Opeb Liability$15,236
Deferred Inflow-opeb$1,271

Bond Issues

BondIssuerIssuedIssue PricePurpose
AFirst State Bank2014-09-01$2,500,000ECONOMIC DEVELOPMENT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$2,500,000---
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Form 990 made available upon request.”

Filing and Contact Details

Filer

Filer Name
Gainesville Economic Development Corp
EIN
75-2706606
Address
200 S RUSK, GAINESVILLE, TX 76240

Signing Officer

Name
Arleene Loyd
Title
Executive Direc
Signed
2021-03-08
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
7
Independent Board Members
0
Employees
0

Preparer

Firm
Schalk & Smith PC
Address
701 E California, Gainesville, TX 76241
Preparer
Cynthia Munoz
Phone
9406653702
Raw XML AppendixShowing 400 of 452 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/Desc1AIRPORT LEASE
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3AUTO ALLOWANCE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18093
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2832
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IRS990/OtherExpensesGrp/TotalAmt24158
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01404032
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOW-PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NET PENSION LIABILITY
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt02500000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0FIRST STATE BANK
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0ECONOMIC DEVELOPMENT
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0911870
IRS990/TotalGrossUBIAmt00

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