Civic Intelligence

Quinlan Economic Development Corporation

EIN 75-2708994 • 501(c)4 • Quinlan, TX

Profile

Promote economic development in the city of quinlan, texas and promote the public interest as provided by the texas development corporation act of 1979.

P O Box 2319Quinlan, TX 75474

n/A

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.01x

Higher debt load relative to assets than 42% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

52nd percentile

0.06x

Higher debt load relative to revenue than 52% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Net Margin

89th percentile

56%

Higher net margin than 89% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

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

501(c)4 • $1M-$5M nonprofits • Source year 2025

Asset Growth

73rd percentile

13%

Faster asset growth than 73% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

58th percentile

13%

Faster revenue growth than 58% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$3,537,264

Up $76,291 (+2.2%) from 2023

Liabilities

Up

$28,208

Up $13,469 (+91%) from 2023

Net Assets

Up

$3,509,056

Up $62,822 (+1.8%) from 2023

Operations
Liabilities / Revenue52nd percentileNet Margin89th percentile

Revenue

Up

$720,000

Up $103,066 (+17%) from 2023

Expenses

Up

$657,178

Up $497,747 (+312%) from 2023

Net Income

Down

$62,822

Down $394,681 (-86%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $651,697Liabilities 2011: $0Net Assets 2011: $651,6972011Assets 2012: $906,896Liabilities 2012: $0Net Assets 2012: $906,8962012Assets 2013: $1,022,894Liabilities 2013: $0Net Assets 2013: $1,022,8942013Assets 2014: $1,353,043Liabilities 2014: $0Net Assets 2014: $1,353,0432014Assets 2015: $1,428,434Liabilities 2015: $0Net Assets 2015: $1,428,4342015Assets 2016: $1,514,996Liabilities 2016: $0Net Assets 2016: $1,514,9962016Assets 2017: $1,844,847Liabilities 2017: $0Net Assets 2017: $1,844,8472017Assets 2018: $1,966,877Liabilities 2018: $121,461Net Assets 2018: $1,845,4162018Assets 2019: $2,137,793Liabilities 2019: $16,122Net Assets 2019: $2,121,6712019Assets 2020: $2,405,511Liabilities 2020: $42,125Net Assets 2020: $2,363,3862020Assets 2021: $2,766,927Liabilities 2021: $8,679Net Assets 2021: $2,758,2482021Assets 2022: $2,995,600Liabilities 2022: $6,869Net Assets 2022: $2,988,7312022Assets 2023: $3,460,973Liabilities 2023: $14,739Net Assets 2023: $3,446,2342023Assets 2024: $3,537,264Liabilities 2024: $28,208Net Assets 2024: $3,509,0562024

Highlighted filing

2024

Assets$3,537,264
Liabilities$28,208
Net Assets$3,509,056
Open 2024 Filing

Operations Trend

Revenue Growth58th percentile

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

$800K$600K$400K$200K$0Revenue 2011: $304,344Expenses 2011: $122,400Net Income 2011: $181,9442011Revenue 2012: $313,144Expenses 2012: $57,945Net Income 2012: $255,1992012Revenue 2013: $327,829Expenses 2013: $211,831Net Income 2013: $115,9982013Revenue 2014: $339,694Expenses 2014: $9,545Net Income 2014: $330,1492014Revenue 2015: $343,642Expenses 2015: $268,251Net Income 2015: $75,3912015Revenue 2016: $367,681Expenses 2016: $281,119Net Income 2016: $86,5622016Revenue 2017: $383,104Expenses 2017: $53,253Net Income 2017: $329,8512017Revenue 2018: $396,110Expenses 2018: $395,541Net Income 2018: $5692018Revenue 2019: $410,545Expenses 2019: $134,290Net Income 2019: $276,2552019Revenue 2020: $470,362Expenses 2020: $228,647Net Income 2020: $241,7152020Revenue 2021: $526,696Expenses 2021: $131,834Net Income 2021: $394,8622021Revenue 2022: $603,567Expenses 2022: $373,084Net Income 2022: $230,4832022Revenue 2023: $616,934Expenses 2023: $159,431Net Income 2023: $457,5032023Revenue 2024: $720,000Expenses 2024: $657,178Net Income 2024: $62,8222024

Highlighted filing

2024

Revenue$720,000
Expenses$657,178
Net Income$62,822
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$3,537,264
Liabilities
$28,208
Net assets
$3,509,056
Revenue
$720,000
Expenses
$657,178
Net income
$62,822
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.54$0.03$3.51$0.72$0.66$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.46$0.01$3.45$0.62$0.16$0.46
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.00$0.01$2.99$0.60$0.37$0.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.77$0.01$2.76$0.53$0.13$0.39
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.04$2.36$0.47$0.23$0.24
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.14$0.02$2.12$0.41$0.13$0.28
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.97$0.12$1.85$0.40$0.40$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.84$0.00$1.84$0.38$0.05$0.33
2016Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$0.37$0.28$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.34$0.27$0.08
2014Summary only. Only limited summary data is available for this year.$1.35$0.00$1.35$0.34$0.01$0.33
2013Summary only. Only limited summary data is available for this year.$1.02$0.00$1.02$0.33$0.21$0.12
2012Summary only. Only limited summary data is available for this year.$0.91$0.00$0.91$0.31$0.06$0.26
2011Summary only. Only limited summary data is available for this year.$0.65$0.00$0.65$0.30$0.12$0.18
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2018 below.

Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Feb 15, 2019
Return Version
2017v2.2
Gross Receipts
$396,110
Mission and Program Overview

Mission

Promote economic development in the city of quinlan, texas and promote the public interest as provided by the texas development corporation act of 1979.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,783,848$1,903,328▲ $119,480
Accounts Receivable$60,999$63,548▲ $2,549
Cash and Non-Interest-Bearing Accounts-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,844,847$1,966,877▲ $122,030
Other Assets Total-$1-
Liabilities
Accounts Payable and Accrued Expenses-$121,461-
Total Liabilities$0$121,461▲ $121,461
Net Assets / Fund Balance
Unrestricted Net Assets$1,844,847$1,845,416▲ $569
Total Net Assets Fund Balance$1,844,847$1,845,416▲ $569
Total Liabilities and Net Assets / Fund Balance$1,844,847$1,966,877▲ $122,030
Compensation and Service Providers
Top Officer Pay63rd percentile

Board Members and Trustees

NameTitle
Tommy UnderwoodPresident
Tim McdanielVice President
Adam SlaughterDirector
Charlie ThompsonDirector
Jacky GolemanDirector
Carolyn StricklandSecretary
Carole PettyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$395,276
Investment Income
$834
Other Revenue
$0
Change in Net Assets
$569

Audited Revenue Reconciliation

Revenue per Audited Statements
$396,110
Total Revenue per Audited Statements
$396,110
Total Revenue per Form 990
$396,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$395,541
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
Other Expenses$17,570--$17,570
Advertising-$10,000-$10,000
Fees for Services Accounting-$3,800-$3,800
Office Expenses-$1,388-$1,388
Total Functional Expenses$380,353$15,188$0$395,541

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$395,541
Total Expenses per Audited Statements$395,541
Total Expenses per Form 990$395,541
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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

“The treasurer and the board of directors will review the form 990 before submission.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is part of the bylaws of the organization. The officers, directors, or members are required to communicate and disclose any conflicts of interest to the organization if any should arise and appropriate action is taken by the board of directors to authorize and approve/disapprove any such transaction.”

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

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Quinlan Economic Development Corporation
EIN
75-2708994
Phone
9033562651
Address
P O BOX 2319, QUINLAN, TX 75474

Signing Officer

Name
Carole Petty
Title
Treasurer
Signed
2019-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommy Underwood
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
ScottSingletonFincher & Co
Address
4815 King Street Suite A, Greenville, TX 75401
Preparer
Thomas L Nelson
Phone
9034554765
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management believes it has no uncertain tax positions, and accordingly there is no liability for unrecognized tax benefits at september 30, 2017.”

Raw XML Appendix378 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.

Path#Value
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IRS990/AdvertisingGrp/ManagementAndGeneralAmt010000
IRS990/AdvertisingGrp/TotalAmt010000
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IRS990/AllOtherExpensesGrp/TotalAmt00
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IRS990/BooksInCareOfDetail/PhoneNum09033562651
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IRS990/BooksInCareOfDetail/USAddress/CityNm0QUINLAN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
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IRS990/CYInvestmentIncomeAmt0834
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IRS990/DepreciationDepletionGrp/TotalAmt00
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IRS990/ExpenseAmt0380353
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IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt03800
IRS990/FeesForServicesAccountingGrp/TotalAmt03800
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
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IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/PersonNm4CHARLIE THOMPSON
IRS990/Form990PartVIISectionAGrp/PersonNm5TOMMY UNDERWOOD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5President
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990/OtherExpensesGrp/Desc0PROJECT #15-27
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IRS990/OtherExpensesGrp/Desc2PROJECT #14-26
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IRS990/PYOtherExpensesAmt053253
IRS990/PYProgramServiceRevenueAmt0382271
IRS990/PYRevenuesLessExpensesAmt0329851
IRS990/PYTotalExpensesAmt053253
IRS990/PYTotalRevenueAmt0383104
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS, AND ACCORDINGLY THERE IS NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt0395541
IRS990ScheduleD/TotalRevenuePerForm990Amt0396110
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0396110
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0395541
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER AND THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS PART OF THE BYLAWS OF THE ORGANIZATION. THE OFFICERS, DIRECTORS, OR MEMBERS ARE REQUIRED TO COMMUNICATE AND DISCLOSE ANY CONFLICTS OF INTEREST TO THE ORGANIZATION IF ANY SHOULD ARISE AND APPROPRIATE ACTION IS TAKEN BY THE BOARD OF DIRECTORS TO AUTHORIZE AND APPROVE/DISAPPROVE ANY SUCH TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY OF QUINLAN TEXAS
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt01966877
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015188
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0380353
IRS990/TotalFunctionalExpensesGrp/TotalAmt0395541
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0121461
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0121461
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01844847
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01845416
IRS990/TotalProgramServiceExpensesAmt0380353
IRS990/TotalProgramServiceRevenueAmt0395276
IRS990/TotalRevenueGrp/ExclusionAmt0834
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0395276
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0396110
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01844847
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01966877
IRS990/TravelGrp/TotalAmt00
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01844847
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01845416
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1526
IRS990/USAddress/CityNm0QUINLAN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075474
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROLE PETTY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUINLAN ECONOMIC DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0QUIN
ReturnHeader/Filer/EIN0752708994
ReturnHeader/Filer/PhoneNum09033562651
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 2319
ReturnHeader/Filer/USAddress/CityNm0QUINLAN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075474
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0751830742
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ScottSingletonFincher & Co
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04815 King Street Suite A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Greenville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075401
ReturnHeader/PreparerPersonGrp/PhoneNum09034554765
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas L Nelson
ReturnHeader/ReturnTs02019-02-15T06:44:40-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

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