Liabilities / Assets
99th percentile
Higher debt load relative to assets than 99% of similar nonprofits.
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.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
99th percentile
Higher debt load relative to assets than 99% of similar nonprofits.
Liabilities / Revenue
98th percentile
Higher debt load relative to revenue than 98% of similar nonprofits.
Net Margin
45th percentile
Higher net margin than 45% of similar nonprofits.
Top Officer Pay
75th percentile
Higher top officer pay than 75% of similar nonprofits.
Top officer pay equals 12.5% of source-year revenue.
Asset Growth
20th percentile
Faster asset growth than 20% of similar nonprofits.
Revenue Growth
64th percentile
Faster revenue growth than 64% of similar nonprofits.
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
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
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.
| Line | Beginning | End | Change |
|---|---|---|---|
| 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 | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $387,755 | - | $58,231 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Joshua Owens | Former Exec | FT | $104,000 | $104,000 |
| Name | Title |
|---|---|
| Freddie Pekar | President |
| Courtland Holman | Executive Di |
| Alice Heard-roberts | Member |
| Larry Pittman | Member |
| Russell Machann | Member |
| Andrew Armour | Secretary |
| Michael Roberson | Treasurer |
| Michael Wootton | Vice Preside |
| Line Item | Amount |
|---|---|
| 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 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| 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 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $591,448 |
| Total Expenses per Audited Statements | $591,448 |
| Total Expenses per Form 990 | $591,448 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Interlocal Commitment | $9,123,477 |
| Due to City of Wharton, Texas | $42,143 |
“No review was or will be conducted.”
“No documents available to the public”
“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.”
“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.”
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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|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 15413 |
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 165515 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | 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. |
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| IRS990/AdvertisingGrp/TotalAmt | 0 | 76053 |
| IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt | 0 | 18760 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 18760 |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | COURTLAND HOLMAN |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 9795320999 |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | WHARTON |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | TX |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 77488 |
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| IRS990/CollectionsOfArtInd | 0 | false |
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| IRS990/CYRevenuesLessExpensesAmt | 0 | 521206 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 212601 |
| IRS990/CYTotalExpensesAmt | 0 | 591448 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 1112654 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | false |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 610 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 610 |
| IRS990/Desc | 0 | 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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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 26501 |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | MEMBER |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | TREASURER |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/FormationYr | 0 | 2000 |
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| IRS990/FSAuditedInd | 0 | true |
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| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | false |
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| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 68053 |
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| IRS990/PYTotalRevenueAmt | 0 | 1067207 |
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| IRS990/ReconcilationRevenueExpnssAmt | 0 | 521206 |
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| IRS990/ReportOtherLiabilitiesInd | 0 | true |
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| IRS990/RevenueAmt | 0 | 1044601 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 68053 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 3717 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 2226 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 4725 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 134058 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 4628068 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.62510 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.92550 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | INTERLOCAL COMMITMENT |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DUE TO CITY OF WHARTON, TEXAS |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | NO REVIEW WAS OR WILL BE CONDUCTED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | NO DOCUMENTS AVAILABLE TO THE PUBLIC |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 19 |
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| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2025-03-07 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | MELISSA M TERRY CPA |
| ReturnHeader/ReturnTs | 0 | 2025-04-02T18:29:33-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2023-10-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-09-30 |
| ReturnHeader/TaxYr | 0 | 2023 |
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