Civic Intelligence

Light Economic and Development Inc.

990 • Fiscal year 2023 • EIN 75-2760924

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 17, 2024

Organization Profile
2606 John West RoadMesquite, TX 75150

(214) 320-5744

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

97th percentile

91%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

81st percentile

$6,670

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$66,176

Down $51,788 (-44%) from 2011

Net Assets

$66,176

No earlier filing loaded for comparison.

Liabilities

Down

$0

Down $122,724 (-100%) from 2011

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin97th percentile

Revenue

Up

$177,820

Up $160,295 (+915%) from 2011

Expenses

Up

$16,722

Up $1,159 (+7.4%) from 2011

Net Income

Up

$161,098

Up $159,136 (+8111%) from 2011

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$150K$100K$50K$0Assets 2010: $122,474Liabilities 2010: $129,2072010Assets 2011: $117,964Liabilities 2011: $122,7242011Assets 2023: $66,176Liabilities 2023: $0Net Assets 2023: $66,1762023Assets 2024: $60,847Liabilities 2024: $0Net Assets 2024: $60,8472024

Highlighted filing

2023

Assets$66,176
Liabilities$0
Net Assets$66,176
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200K$150K$100K$50K$0-$50KRevenue 2010: $17,825Expenses 2010: $18,656Net Income 2010: -$8312010Revenue 2011: $17,525Expenses 2011: $15,563Net Income 2011: $1,9622011Revenue 2023: $177,820Expenses 2023: $16,722Net Income 2023: $161,0982023Revenue 2024: $0Expenses 2024: $5,329Net Income 2024: -$5,3292024

Highlighted filing

2023

Revenue$177,820
Expenses$16,722
Net Income$161,098
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 17, 2024
Return Version
2023v5.0
Gross Receipts
$223,321
Mission and Program Overview

Mission

To develop strategic partnerships for the spiritual, economic, and social benefit of area youth, residents, and businesses. Our energy is focused in four key areas: Enterprise Development, Housing Development, Workforce Training, and Leadership Development.

To develop strategic partnerships for the spritual, economic and social benefit of area youth, residents and businesses. Our energy is focused in four key areas: enterprise development, housing development, workfoce training and leadership development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$41,585--
Cash and Non-Interest-Bearing Accounts$11,104$41,176▲ $30,072
Receivable From Disqualified Prsn-$25,000-
Total Assets$52,689$66,176▲ $13,487
Liabilities
Accounts Payable and Accrued Expenses$146,479--
Mortgage Notes Payable Secured by Investment Property$1,132--
Total Liabilities$147,611$0▼ $147,611
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-94,922$66,176▲ $161,098
Total Net Assets Fund Balance$-94,922$66,176▲ $161,098
Total Liabilities and Net Assets / Fund Balance$52,689$66,176▲ $13,487
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Veda ShawSecretary/trPT$6,670$6,670

Board Members and Trustees

NameTitle
Ronald ShawPresident/di
Kenneth MartinDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,150
Investment Income
$172,670
Other Revenue
$0
Change in Net Assets
$161,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,052
Salaries, Compensation, and Employee Benefits$6,670
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$6,670--$6,670
Fees for Services Legal-$4,296-$4,296
Occupancy$3,001--$3,001
Depreciation Depletion$1,622--$1,622
Other Expenses$516--$516
Information Technology-$330-$330
Office Expenses-$144-$144
Travel-$143-$143
Total Functional Expenses$11,809$4,913$0$16,722
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-$25,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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, Page 6, Part VI, Line 2

“Ron shaw veda shaw president sec/treas family relationship”

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

“The organization's form 990 is prepared by an outside cpa. The form 990 is reviewed by the secretary/treasurer”

Form 990, Page 6, Part VI, Line 19

“The organization provides its governing documents upon request.”

Filing and Contact Details

Filer

Filer Name
Light Economic and Development Inc
EIN
75-2760924
Phone
2143205744
Address
2606 JOHN WEST ROAD, MESQUITE, TX 75150

Signing Officer

Name
Veda Shaw
Title
Secretary/treas/Director
Phone
2143205744
Signed
2024-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronald Shaw
Formed
1997
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
2

Preparer

Firm
Sommerville & Associates Pc
Address
2726 MATLOCK RD, ARLINGTON, TX 76015
Preparer
Elaine L Sommerville CPA
Phone
8177955046
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To develop strategic partnerships for the spritual, economic and social benefit of area youth, residents and businesses. Our energy is focused in four key areas: enterprise development, housing development, workfoce training and leadership development.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RON SHAW VEDA SHAW PRESIDENT SEC/TREAS FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA. THE FORM 990 IS REVIEWED BY THE SECRETARY/TREASURER
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ReturnHeader/PreparerPersonGrp/PhoneNum08177955046
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELAINE L SOMMERVILLE CPA
ReturnHeader/ReturnTs02024-07-17T13:00:45-04:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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
$66,176
Liabilities
$0
Net assets
$66,176
Revenue
$177,820
Expenses
$16,722
Net income
$161,098
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.00$0.05$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$1.78$0.17$1.61
2011Summary only. Only limited summary data is available for this year.$1.18$1.23$0.18$0.16$0.02
2010Summary only. Only limited summary data is available for this year.$1.22$1.29$0.18$0.19$0.01