Civic Intelligence

Wharton Economic Development Corp

EIN 76-0573917 • 501(c)3 • Wharton, TX

Profile

To develop a positive climate for businesses and industrial growth and investment; assist in the creation of jobs; increase the tax base of the various taxing entities; diversify the local economy to make it more impervious to state and national economic recession; and make plans and take necessary actions to insure that all necessary infrastructure is in place to allow for proper development of wharton, texas.

1944 N FultonWharton, TX 77488

whartonedc.com

Siviq Scores

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

Liabilities / Assets

99th percentile

5.18x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

8.72x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

45th percentile

2.3%

Higher net margin than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

75th percentile

$94,000

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

20th percentile

-6.5%

Faster asset growth than 20% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

64th percentile

16%

Faster revenue growth than 64% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,196,289

Up $398,553 (+22%) from 2023

Liabilities

Down

$9,181,033

Down $122,653 (-1.3%) from 2023

Net Assets

Up

-$6,984,744

Up $521,206 (+6.9%) from 2023

Revenue

Up

$1,112,654

Up $45,447 (+4.3%) from 2023

Expenses

Down

$591,448

Down $451,599 (-43%) from 2023

Net Income

Up

$521,206

Up $497,046 (+2057%) from 2023

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0-$5.0M-$10MAssets 2010: $1,094,259Liabilities 2010: $660,949Net Assets 2010: $433,3102010Assets 2011: $1,726,189Liabilities 2011: $1,172,098Net Assets 2011: $554,0912011Assets 2012: $1,094,259Liabilities 2012: $660,949Net Assets 2012: $433,3102012Assets 2013: $1,388,339Liabilities 2013: $393,601Net Assets 2013: $994,7382013Assets 2014: $1,453,150Liabilities 2014: $242,232Net Assets 2014: $1,210,9182014Assets 2015: $1,333,314Liabilities 2015: $141,118Net Assets 2015: $1,192,1962015Assets 2016: $1,255,327Liabilities 2016: $67,695Net Assets 2016: $1,187,6322016Assets 2017: $1,113,138Liabilities 2017: $60,583Net Assets 2017: $1,052,5552017Assets 2018: $1,259,678Liabilities 2018: $281,561Net Assets 2018: $978,1172018Assets 2019: $1,896,273Liabilities 2019: $226,672Net Assets 2019: $1,669,6012019Assets 2020: $2,090,075Liabilities 2020: $184,550Net Assets 2020: $1,905,5252020Assets 2021: $2,147,454Liabilities 2021: $195,500Net Assets 2021: $1,951,9542021Assets 2022: $1,922,038Liabilities 2022: $9,480,379Net Assets 2022: -$7,558,3412022Assets 2023: $1,797,736Liabilities 2023: $9,303,686Net Assets 2023: -$7,505,9502023Assets 2024: $2,196,289Liabilities 2024: $9,181,033Net Assets 2024: -$6,984,7442024

Highlighted filing

2024

Assets$2,196,289
Liabilities$9,181,033
Net Assets-$6,984,744

Operations Trend

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

$15M$10M$5.0M$0-$5.0M-$10MExpenses 2010: $486,1192010Expenses 2011: $522,1262011Revenue 2012: $637,901Expenses 2012: $486,119Net Income 2012: $151,7822012Expenses 2013: $522,3872013Revenue 2014: $706,572Expenses 2014: $490,392Net Income 2014: $216,1802014Revenue 2015: $755,439Expenses 2015: $774,161Net Income 2015: -$18,7222015Revenue 2016: $792,124Expenses 2016: $796,688Net Income 2016: -$4,5642016Revenue 2017: $747,799Expenses 2017: $882,876Net Income 2017: -$135,0772017Revenue 2018: $821,660Expenses 2018: $896,098Net Income 2018: -$74,4382018Revenue 2019: $1,416,540Expenses 2019: $726,412Net Income 2019: $690,1282019Revenue 2020: $994,405Expenses 2020: $758,481Net Income 2020: $235,9242020Revenue 2021: $753,236Expenses 2021: $706,807Net Income 2021: $46,4292021Revenue 2022: $922,716Expenses 2022: $10,242,158Net Income 2022: -$9,319,4422022Revenue 2023: $1,067,207Expenses 2023: $1,043,047Net Income 2023: $24,1602023Revenue 2024: $1,112,654Expenses 2024: $591,448Net Income 2024: $521,2062024

Highlighted filing

2024

Revenue$1,112,654
Expenses$591,448
Net Income$521,206

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.20$9.18$6.98$1.11$0.59$0.52
2023Detailed filing. Detailed filing data is available for this year.$1.80$9.30$7.51$1.07$1.04$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.92$9.48$7.56$0.92$10.2$9.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.15$0.20$1.95$0.75$0.71$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.09$0.18$1.91$0.99$0.76$0.24
2019Detailed filing. Detailed filing data is available for this year.$1.90$0.23$1.67$1.42$0.73$0.69
2018Detailed filing. Detailed filing data is available for this year.$1.26$0.28$0.98$0.82$0.90$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.11$0.06$1.05$0.75$0.88$0.14
2016Detailed filing. Detailed filing data is available for this year.$1.26$0.07$1.19$0.79$0.80$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.33$0.14$1.19$0.76$0.77$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.45$0.24$1.21$0.71$0.49$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.39$0.99$0.52
2012Summary only. Only limited summary data is available for this year.$1.09$0.66$0.43$0.64$0.49$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$1.17$0.55$0.52
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.66$0.43$0.49
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Mar 7, 2025
Return Version
2023v6.0
Gross Receipts
$1,112,654
Mission and Program Overview

Mission

To develop a positive climate for businesses and industrial growth and investment; assist in the creation of jobs; increase the tax base of the various taxing entities; diversify the local economy to make it more impervious to state and national economic recession; and make plans and take necessary actions to insure that all necessary infrastructure is in place to allow for proper development of wharton, texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$946,311$1,632,477▲ $686,166
Land, Buildings, and Equipment, Net$431,590$391,576▼ $40,014
Savings and Temporary Cash Investments$240,000--
Accounts Receivable$173,253$165,515▼ $7,738
Inventories for Sale or Use$2,000$2,000→ $0
Total Assets$1,797,736$2,196,289▲ $398,553
Other Assets Total$4,582$4,721▲ $139
Liabilities
Other Liabilities$9,290,402$9,165,620▼ $124,782
Accounts Payable and Accrued Expenses$13,284$15,413▲ $2,129
Total Liabilities$9,303,686$9,181,033▼ $122,653
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-7,505,950$-6,984,744▲ $521,206
Total Net Assets Fund Balance$-7,505,950$-6,984,744▲ $521,206
Total Liabilities and Net Assets / Fund Balance$1,797,736$2,196,289▲ $398,553

Asset Categories

AssetBook ValueDepreciationBasis
Land$387,755-$58,231
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Joshua OwensFormer ExecFT$104,000$104,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,044,601
Investment Income
$68,053
Other Revenue
$0
Change in Net Assets
$521,206

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,112,654
Total Revenue per Audited Statements
$1,112,654
Total Revenue per Form 990
$1,112,654
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$378,847
Salaries, Compensation, and Employee Benefits$212,601
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-$104,000-$104,000
Advertising-$76,053-$76,053
Other Salaries and Wages-$60,785-$60,785
Fees for Services Accounting-$26,501-$26,501
Other Employee Benefits-$26,381-$26,381
Conferences and Meetings-$19,706-$19,706
All Other Expenses-$18,760-$18,760
Fees for Services Legal-$12,000-$12,000
Payroll Taxes-$11,906-$11,906
Pension Plan Contributions-$9,529-$9,529
Office Expenses-$8,375-$8,375
Other Expenses$195,229$5,133-$5,133
Depreciation Depletion$610--$610
Fees for Services Other-$331-$331
Total Functional Expenses$195,839$395,609$0$591,448

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$591,448
Total Expenses per Audited Statements$591,448
Total Expenses per Form 990$591,448
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interlocal Commitment$9,123,477
Due to City of Wharton, Texas$42,143
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Wharton Economic Development Corp
EIN
76-0573917
Phone
9795320999
Address
1944 N FULTON, WHARTON, TX 77488

Signing Officer

Name
Courtland Holman
Title
Executive Director
Phone
9795320999
Signed
2025-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Courtland Holman
Formed
2000
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Harrison Waldrop & Uherek Llp
Address
101 S MAIN STE 400, VICTORIA, TX 77901
Preparer
Melissa M Terry CPA
Phone
3615733255
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To develop a positive climate for businesses and industrial growth and investment; assist in the creation of jobs; increase the tax base of the various taxing entities; diversify the local economy to make it more impervious to state and national economic recession; and make plans and take necessary actions to insure that all necessary infrastructure is in place to allow for proper development of wharton, texas.

Form 990, Page 2, Part III, Line 4D

Economic development programs benefit the approximately 9,500 residents of wharton, texas. They preserve, protect, enhance, and encourage activity in the existing buildings in downtown and on the gateways of wharton, texas.

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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/ProgramServiceRevenueGrp/Desc0STATE OF TEXAS SALES TAX
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01044601
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE GATEWAYS OF WHARTON, TEXAS.
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IRS990/PYExcessBenefitTransInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0217500
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt068053
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt055337
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03717
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02226
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04725
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0329524
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt058231
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt142143
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTERLOCAL COMMITMENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO CITY OF WHARTON, TEXAS
IRS990ScheduleD/RevenueSubtotalAmt01112654
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0387755
IRS990ScheduleD/TotalExpensesPerForm990Amt0591448
IRS990ScheduleD/TotalLiabilityAmt09165620
IRS990ScheduleD/TotalRevenuePerForm990Amt01112654
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DEVELOP A POSITIVE CLIMATE FOR BUSINESSES AND INDUSTRIAL GROWTH AND INVESTMENT; ASSIST IN THE CREATION OF JOBS; INCREASE THE TAX BASE OF THE VARIOUS TAXING ENTITIES; DIVERSIFY THE LOCAL ECONOMY TO MAKE IT MORE IMPERVIOUS TO STATE AND NATIONAL ECONOMIC RECESSION; AND MAKE PLANS AND TAKE NECESSARY ACTIONS TO INSURE THAT ALL NECESSARY INFRASTRUCTURE IS IN PLACE TO ALLOW FOR PROPER DEVELOPMENT OF WHARTON, TEXAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE GATEWAYS OF WHARTON, TEXAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt09181033
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-7505950
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-6984744
IRS990/TotalOtherProgSrvcExpenseAmt0195839
IRS990/TotalProgramServiceExpensesAmt0195839
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IRS990/TotalReportableCompFromOrgAmt0104000
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01112654
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01797736
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IRS990/USAddress/AddressLine1Txt01944 N FULTON STREET
IRS990/USAddress/CityNm0WHARTON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077488
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IRS990/WebsiteAddressTxt0WHARTONEDC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0COURTLAND HOLMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09795320999
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WHARTON ECONOMIC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0WHAR
ReturnHeader/Filer/EIN0760573917
ReturnHeader/Filer/PhoneNum09795320999
ReturnHeader/Filer/USAddress/AddressLine1Txt01944 N FULTON
ReturnHeader/Filer/USAddress/CityNm0WHARTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077488
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0741177446
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HARRISON WALDROP & UHEREK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 S MAIN STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0VICTORIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077901
ReturnHeader/PreparerPersonGrp/PhoneNum03615733255
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MELISSA M TERRY CPA
ReturnHeader/ReturnTs02025-04-02T18:29:33-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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