Civic Intelligence

Carthage Improvement Corporation

EIN 75-2792161 • 501(c)3 • Carthage, TX

Profile

To benefit and accomplish public purposes for the city of carthage, texas, by promoting, assissting and enhancing economic development activities for the city as provided by the state of texas development corporation act of 1979, local government code, chapter 505.

PO Box 400Carthage, TX 75633

www.carthagetexas.com

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

19th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

97th percentile

84%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

87th percentile

36%

Faster asset growth than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-5.8%

Faster revenue growth than 26% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$3,106,931

Up $815,919 (+36%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$3,106,931

Up $815,919 (+36%) from 2023

Operations
Liabilities / Revenue19th percentileNet Margin97th percentile

Revenue

Down

$874,641

Down $53,455 (-5.8%) from 2023

Expenses

Up

$143,295

Up $11,130 (+8.4%) from 2023

Net Income

Down

$731,346

Down $64,585 (-8.1%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth87th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $416,744Liabilities 2011: $400,000Net Assets 2011: $16,7442011Assets 2012: $437,519Liabilities 2012: $100,000Net Assets 2012: $337,5192012Assets 2013: $191,300Liabilities 2013: $1,876Net Assets 2013: $189,4242013Assets 2014: $448,324Liabilities 2014: $1,876Net Assets 2014: $446,4482014Assets 2015: $504,431Liabilities 2015: $1,876Net Assets 2015: $502,5552015Assets 2016: $492,056Liabilities 2016: $1,876Net Assets 2016: $490,1802016Assets 2017: $440,244Liabilities 2017: $1,876Net Assets 2017: $438,3682017Assets 2018: $444,013Liabilities 2018: $1,876Net Assets 2018: $442,1372018Assets 2019: $477,167Liabilities 2019: $1,876Net Assets 2019: $475,2912019Assets 2020: $664,335Liabilities 2020: $0Net Assets 2020: $664,3352020Assets 2021: $1,178,677Liabilities 2021: $0Net Assets 2021: $1,178,6772021Assets 2022: $1,495,081Liabilities 2022: $0Net Assets 2022: $1,495,0812022Assets 2023: $2,291,012Liabilities 2023: $0Net Assets 2023: $2,291,0122023Assets 2024: $3,106,931Liabilities 2024: $0Net Assets 2024: $3,106,9312024

Highlighted filing

2024

Assets$3,106,931
Liabilities$0
Net Assets$3,106,931
Open 2024 Filing

Operations Trend

Revenue Growth26th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $558,329Expenses 2011: $1,023,829Net Income 2011: -$465,5002011Revenue 2012: $527,769Expenses 2012: $206,994Net Income 2012: $320,7752012Revenue 2013: $498,224Expenses 2013: $646,319Net Income 2013: -$148,0952013Revenue 2014: $522,270Expenses 2014: $265,246Net Income 2014: $257,0242014Revenue 2015: $517,625Expenses 2015: $461,518Net Income 2015: $56,1072015Revenue 2016: $449,599Expenses 2016: $461,974Net Income 2016: -$12,3752016Revenue 2017: $443,901Expenses 2017: $495,713Net Income 2017: -$51,8122017Revenue 2018: $522,237Expenses 2018: $518,468Net Income 2018: $3,7692018Revenue 2019: $651,741Expenses 2019: $618,587Net Income 2019: $33,1542019Revenue 2020: $640,414Expenses 2020: $451,370Net Income 2020: $189,0442020Revenue 2021: $645,591Expenses 2021: $131,249Net Income 2021: $514,3422021Revenue 2022: $762,095Expenses 2022: $445,691Net Income 2022: $316,4042022Revenue 2023: $928,096Expenses 2023: $132,165Net Income 2023: $795,9312023Revenue 2024: $874,641Expenses 2024: $143,295Net Income 2024: $731,3462024

Highlighted filing

2024

Revenue$874,641
Expenses$143,295
Net Income$731,346
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,106,931
Liabilities
$0
Net assets
$3,106,931
Revenue
$874,641
Expenses
$143,295
Net income
$731,346
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.11$0.00$3.11$0.87$0.14$0.73
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.29$0.00$2.29$0.93$0.13$0.80
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.50$0.00$1.50$0.76$0.45$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.00$1.18$0.65$0.13$0.51
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.00$0.66$0.64$0.45$0.19
2019Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$0.65$0.62$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$0.52$0.52$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$0.44$0.50$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.00$0.49$0.45$0.46$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.52$0.46$0.06
2014Summary only. Only limited summary data is available for this year.$0.45$0.00$0.45$0.52$0.27$0.26
2013Summary only. Only limited summary data is available for this year.$0.19$0.00$0.19$0.50$0.65$0.15
2012Summary only. Only limited summary data is available for this year.$0.44$0.10$0.34$0.53$0.21$0.32
2011Summary only. Only limited summary data is available for this year.$0.42$0.40$0.02$0.56$1.02$0.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 13, 2024
Return Version
2023v6.0
Gross Receipts
$874,641
Mission and Program Overview

Mission

To benefit and accomplish public purposes for the city of carthage, texas, by promoting, assisting and enhancing economic development activities for the city as provided by the state of texas development corporation act of 1979, local government code, chapter 505.

To benefit and accomplish public purposes for the city of carthage, texas, by promoting, assissting and enhancing economic development activities for the city as provided by the state of texas development corporation act of 1979, local government code, chapter 505.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$400,000$1,900,000▲ $1,500,000
Cash and Non-Interest-Bearing Accounts$1,765,510$1,021,792▼ $743,718
Accounts Receivable$63,632$146,519▲ $82,887
Land, Buildings, and Equipment, Net$38,620$38,620→ $0
Prepaid Expenses and Deferred Charges$23,250--
Total Assets$2,291,012$3,106,931▲ $815,919
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,291,012$3,106,931▲ $815,919
Total Net Assets Fund Balance$2,291,012$3,106,931▲ $815,919
Total Liabilities and Net Assets / Fund Balance$2,291,012$3,106,931▲ $815,919

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$38,620$87,395$126,015
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephen K WilliamsChief Exe of--$195,808$195,808
Brenda SamfordRecording SePT$33,976-$33,976

Board Members and Trustees

NameTitle
Olin JoffrionPresident
Andy CoatsDirector
Isha BrownDirector
John CookeDirector
Keri Perot-vanceDirector
Stuart LipseyDirector
Stephen K WilliamsChief Exe Officer
Jerry HanszenSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$75,005
Other Revenue
$799,636
Change in Net Assets
$731,346

Audited Revenue Reconciliation

Revenue per Audited Statements
$874,641
Total Revenue per Audited Statements
$874,641
Total Revenue per Form 990
$874,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$75,768
Salaries, Compensation, and Employee Benefits$42,527
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$40,750--$40,750
Current Officers, Directors, Trustees, and Key Employees$22,084$11,892-$33,976
Grants to Domestic Orgs$25,000--$25,000
Fees for Services Management$11,989$6,456-$18,445
Payroll Taxes$5,558$2,993-$8,551
Other Expenses$6,325--$6,325
Fees for Services Accounting-$4,000-$4,000
Advertising$2,879--$2,879
Information Technology-$2,200-$2,200
Office Expenses-$1,169-$1,169
Total Functional Expenses$114,585$28,710$0$143,295

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$143,295
Total Expenses per Audited Statements$143,295
Total Expenses per Form 990$143,295
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of CarthageCarthage, TXGovPark Maintenance$25,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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, Page 6, Part VI, Line 11B

“The corporation's executive director reviews form 990 annually prior to filing the return.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, policies, and financial statements are made available upon request and in accordance with the open records statutes in the state of texas.”

Filing and Contact Details

Filer

Filer Name
Carthage Improvement Corporation
EIN
75-2792161
Phone
9036933868
Address
PO BOX 400, CARTHAGE, TX 75633

Signing Officer

Name
Stephen K Williams
Title
Chief Exe Officer
Phone
9036933868
Signed
2024-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen K Williams
Formed
1999
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
1

Preparer

Firm
James M Wolfe CPA
Address
309 W SABINE STE 6, CARTHAGE, TX 75633-2500
Preparer
James M Wolfe CPA
Phone
9036933700
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To benefit and accomplish public purposes for the city of carthage, texas, by promoting, assissting and enhancing economic development activities for the city as provided by the state of texas development corporation act of 1979, local government code, chapter 505.”

Form 990, Part IX, Line 11G

“Strategic planning consultant 40,750 0 0”

Form 990, Part XI

“Line 8 prior period adjustments a prior period adjustment was made by the auditor to accrue two months sales tax receivable. Prior year had only accrued one month.”

Raw XML AppendixShowing 400 of 414 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/PayrollTaxesGrp/ManagementAndGeneralAmt02993
IRS990/PayrollTaxesGrp/ProgramServicesAmt05558
IRS990/PayrollTaxesGrp/TotalAmt08551
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt023250
IRS990/PrincipalOfficerNm0STEPHEN K WILLIAMS
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IRS990/PYTotalExpensesAmt0132165
IRS990/PYTotalRevenueAmt0928096
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt038620
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt087395
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0126015
IRS990ScheduleD/RevenueSubtotalAmt0874641
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038620
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IRS990ScheduleD/TotalRevenuePerForm990Amt0874641
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0874641
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0143295
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IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0PAID TO VENDOR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PARK MAINTENANCE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CITY OF CARTHAGE
IRS990ScheduleI/RecipientTable/RecipientEIN0756000479
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 400
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IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0COST
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAKES ASSISTANCE PAYMENTS DIRECTLY TO ORGANIZATIONS AND/OR GOVERNMENTS FOR ASSISTANCE ARRANGEMENTS APPROVED BY THE BOARD OF DIRECTORS AND MONITORS TO ENSURE THAT REQUIREMENTS HAVE BEEN MET PRIOR TO PAYMENT.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt07830
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEPHEN K WILLIAMS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0195808
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO BENEFIT AND ACCOMPLISH PUBLIC PURPOSES FOR THE CITY OF CARTHAGE, TEXAS, BY PROMOTING, ASSISSTING AND ENHANCING ECONOMIC DEVELOPMENT ACTIVITIES FOR THE CITY AS PROVIDED BY THE STATE OF TEXAS DEVELOPMENT CORPORATION ACT OF 1979, LOCAL GOVERNMENT CODE, CHAPTER 505.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION'S EXECUTIVE DIRECTOR REVIEWS FORM 990 ANNUALLY PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST AND IN ACCORDANCE WITH THE OPEN RECORDS STATUTES IN THE STATE OF TEXAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STRATEGIC PLANNING CONSULTANT 40,750 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 8 PRIOR PERIOD ADJUSTMENTS A PRIOR PERIOD ADJUSTMENT WAS MADE BY THE AUDITOR TO ACCRUE TWO MONTHS SALES TAX RECEIVABLE. PRIOR YEAR HAD ONLY ACCRUED ONE MONTH.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1CARTHAGE ECONOMIC DEVELOPMENT CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0756000479
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1752488443
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170B
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MUNICIPAL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1ECON DEV
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt025000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt118445
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0AMT PAID TO SVC PROVIDER
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1AMT REIMBURSED
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CITY OF CARTHAGE TX
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1CARTHAGE ECONOMIC DEVELOPMENT CORP
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
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IRS990/SchoolOperatingInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt03106931
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt01
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt028710
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0114585
IRS990/TotalFunctionalExpensesGrp/TotalAmt0143295
IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03106931
IRS990/TotalOtherCompensationAmt07830
IRS990/TotalProgramServiceExpensesAmt0114585
IRS990/TotalReportableCompFromOrgAmt033976
IRS990/TotalRevenueGrp/ExclusionAmt075005
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0874641
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02291012
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03106931
IRS990/TotReportableCompRltdOrgAmt0187978
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/VotingMembersGoverningBodyCnt07
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IRS990/WebsiteAddressTxt0WWW.CARTHAGETEXAS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN K WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum09036933868
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARTHAGE IMPROVEMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0CART
ReturnHeader/Filer/EIN0752792161
ReturnHeader/Filer/PhoneNum09036933868
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 400
ReturnHeader/Filer/USAddress/CityNm0CARTHAGE
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ReturnHeader/Filer/USAddress/ZIPCd075633
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274832636

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