Civic Intelligence

Aransas County Partnership Economic Development Corporation

990 • Fiscal year 2022 • EIN 84-3736196

Jan 01, 2022 to Dec 31, 2022 • Filed on May 08, 2023

Organization Profilewww.aransascountyedc.org
PO Box 2620Rockport, TX 78381

(361) 450-0135

Siviq Scores

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

Liabilities / Assets

91st percentile

0.47x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

0.84x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

73rd percentile

15%

Higher net margin than 73% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

90th percentile

$63,000

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 26.7% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

91st percentile

54%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

81st percentile

63%

Faster revenue growth than 81% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$425,035

Up $148,503 (+54%) from 2021

Net Assets

Up

$225,575

Up $36,846 (+20%) from 2021

Liabilities

Up

$199,460

Up $111,657 (+127%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin73rd percentile

Revenue

Up

$236,217

Up $91,351 (+63%) from 2021

Expenses

Up

$199,752

Up $141,160 (+241%) from 2021

Net Income

Down

$36,465

Down $49,809 (-58%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$600K$400K$200K$0Assets 2020: $112,053Liabilities 2020: $9,598Net Assets 2020: $102,4552020Assets 2021: $276,532Liabilities 2021: $87,803Net Assets 2021: $188,7292021Assets 2022: $425,035Liabilities 2022: $199,460Net Assets 2022: $225,5752022Assets 2023: $372,512Liabilities 2023: $218,570Net Assets 2023: $153,9422023Assets 2024: $345,892Liabilities 2024: $216,841Net Assets 2024: $129,0512024

Highlighted filing

2022

Assets$425,035
Liabilities$199,460
Net Assets$225,575
Open 2022 Filing

Operations Trend

Revenue Growth81st percentile

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

$300K$200K$100K$0-$100KRevenue 2020: $148,527Expenses 2020: $46,072Net Income 2020: $102,4552020Revenue 2021: $144,866Expenses 2021: $58,592Net Income 2021: $86,2742021Revenue 2022: $236,217Expenses 2022: $199,752Net Income 2022: $36,4652022Revenue 2023: $211,750Expenses 2023: $283,382Net Income 2023: -$71,6322023Revenue 2024: $247,377Expenses 2024: $272,268Net Income 2024: -$24,8912024

Highlighted filing

2022

Revenue$236,217
Expenses$199,752
Net Income$36,465
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 8, 2023
Return Version
2022v5.0
Gross Receipts
$240,675
Mission and Program Overview

Mission

The corporation shall have the purpose of assisting in the economic development of Aransas County by promoting the location or new commercial, retail, tourism-related, manufacturing, and other business enterprises and the expansion of existing commerical, retail, tourism-related manufacturing, and other business enterprises; conducting education and training, planning and development and other matter of public concern: and organizing, coordinating, and leading the expansion of Aransas County's economic base through actions and programs that encourage and cause retention, expansion and recruitment of commercial, manufacturing, distribution and service employers.

The corporation shall have the purpose of assisting in the economic development of Aransas County by promoting the location or new commercial, retail, tourism-related,manufacturing, and other business enterprises; conducting education and training, planning and development and other matter of public concern: and organizing, coordinating, and leading the expansion of Aransas County's economic base through actions and programs that encourage and cause retention, expansion and recruitment of commercial, manufacturing, distribution and service employers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$274,601$272,311▼ $2,290
Accounts Receivable$793$151,500▲ $150,707
Land, Buildings, and Equipment, Net$1,137$868▼ $269
Prepaid Expenses and Deferred Charges-$356-
Total Assets$276,531$425,035▲ $148,504
Liabilities
Deferred Revenue$86,895$196,000▲ $109,105
Accounts Payable and Accrued Expenses$526$3,460▲ $2,934
Total Liabilities$87,421$199,460▲ $112,039
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$189,110$225,575▲ $36,465
Total Net Assets Fund Balance$189,110$225,575▲ $36,465
Total Liabilities and Net Assets / Fund Balance$276,531$425,035▲ $148,504

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$868$586-
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey SjostromPresidentFT$63,000$63,000

Board Members and Trustees

NameTitle
Jatin BhaktaChair
John JacksonPast Chair
Nancy BoltingVice Chair
Clayton ReaserAdvisory Director
Courtney SanchezAdvisory Director
Diane ProbsyAdvisory Director
Tom CallanAdvisory Director
Blake McDavidDirector
Donna TownsendDirector
James CreekmoreDirector
Janae EvansDirector
Jatin BhaktaDirector
Jim ReidelDirector
Keith BarrettDirector
Mark WagnonDirector
Nancy BoltingDirector
Phil SalemiDirector
Rebecca BagbyDirector
Robert MitchellDirector
Dr Joshua GarciaEx -officio Director
Judge Burt MillsEx -officio Director
Malcolm DieckowEx -officio Director
Mayor Kelli ColeEx -officio Director
Mayor Tim JayroeEx -officio Director
Rebecca BagbySecretary
Mark WagnonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$236,375
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-158
Change in Net Assets
$36,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$100,100
Other Expenses$99,652
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$0$0$0$63,000
Other Salaries and Wages$0$0$0$26,230
Information Technology$0$0$0$15,145
Occupancy$0$0$0$10,752
Payroll Taxes$0$0$0$7,270
Fees for Services Legal$0$0$0$5,358
Advertising$0$0$0$3,937
Office Expenses$0$0$0$3,729
Other Employee Benefits$0$0$0$3,600
Travel$0$0$0$3,419
Fees for Services Accounting$0$0$0$3,125
All Other Expenses$0$0$0$3,037
Other Expenses$0$0$0$958
Conferences and Meetings$0$0$0$694
Insurance$0$0$0$658
Depreciation Depletion$0$0$0$269
Total Functional Expenses$0$0$0$199,752
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$4,458
Fundraising Gross Income$4,300
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Aransas County Partnership EDC
EIN
84-3736196
Phone
3614500135
Address
PO Box 2620, Rockport, TX 78381

Signing Officer

Name
Jatin Bhakta
Title
Chairman of Board of Directors
Phone
3614500135
Signed
2023-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jatin Bhakta
Formed
2019
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
11
Employees
2
Volunteers
0

Preparer

Firm
Johnson & Creekmore PLLC
Address
2611 HWY 35 N, ROCKPORT, TX 78382
Preparer
James R Creekmore Jr
Phone
3617299707
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“Organization has members that pay dues and participate in the organization's activities.”

Pt VI, Line 7A

“Membership elects six members to serve on the board Executive committee appoints six members to serve on the board”

Pt VI, Line 11B

“A copy is sent to the executive committee. Memebers of the committee are allowed a review and comment before the actual return is filed.”

Pt VI, Line 15A

“Salaries and related data are reviewed and approved by the board.”

Pt VI, Line 15B

“Salaries and related data are reviewed and approved by the board.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Past Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Ex -officio Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Ex -officio Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Ex -officio Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Ex -officio Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Ex -officio Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Advisory Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Advisory Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Advisory Director
IRS990/Form990PartVIISectionAGrp/TitleTxt25Advisory Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26President
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02019
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/FundraisingDirectExpensesAmt04458
IRS990/FundraisingGrossIncomeAmt04300
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt044000
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0240675
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt011
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt00
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
IRS990/InformationTechnologyGrp/ProgramServicesAmt00
IRS990/InformationTechnologyGrp/TotalAmt015145
IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt00
IRS990/InsuranceGrp/ProgramServicesAmt00
IRS990/InsuranceGrp/TotalAmt0658
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipAccumDeprecAmt0586
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01137
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IRS990/LandBldgEquipCostOrOtherBssAmt01454
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0192375
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The corporation shall have the purpose of assisting in the economic development of Aransas County by promoting the location or new commercial, retail, tourism-related,manufacturing, and other business enterprises; conducting education and training, planning and development and other matter of public concern: and organizing, coordinating, and leading the expansion of Aransas County's economic base through actions and programs that encourage and cause retention, expansion and recruitment of commercial, manufacturing, distribution and service employers.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0189110
IRS990/NetAssetsOrFundBalancesEOYAmt0225575
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-158
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-158
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IRS990/NondeductibleContriDisclInd0true
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IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt00
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt03600
IRS990/OtherExpensesGrp/Desc0Contract Services
IRS990/OtherExpensesGrp/Desc1Telephone
IRS990/OtherExpensesGrp/Desc2Training
IRS990/OtherExpensesGrp/Desc3Printing and Publication
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IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt046168
IRS990/OtherExpensesGrp/TotalAmt11397
IRS990/OtherExpensesGrp/TotalAmt21006
IRS990/OtherExpensesGrp/TotalAmt3958
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt026230
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt00
IRS990/PayrollTaxesGrp/TotalAmt07270
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0356
IRS990/PrincipalOfficerNm0Jatin Bhakta
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0144755
IRS990/PYOtherExpensesAmt034656
IRS990/PYOtherRevenueAmt0111
IRS990/PYRevenuesLessExpensesAmt086655
IRS990/PYSalariesCompEmpBnftPaidAmt023555
IRS990/PYTotalExpensesAmt058211
IRS990/PYTotalRevenueAmt0144866
IRS990/ReconcilationRevenueExpnssAmt036465
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$425,035
Liabilities
$199,460
Net assets
$225,575
Revenue
$236,217
Expenses
$199,752
Net income
$36,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.46$2.17$1.29$2.47$2.72$0.25
2023Detailed filing. Detailed filing data is available for this year.$3.73$2.19$1.54$2.12$2.83$0.72
2022Detailed filing. Detailed filing data is available for this year.$4.25$1.99$2.26$2.36$2.00$0.36
2021Detailed filing. Detailed filing data is available for this year.$2.77$0.88$1.89$1.45$0.59$0.86
2020Detailed filing. Detailed filing data is available for this year.$1.12$0.10$1.02$1.49$0.46$1.02