Orange Economic Development Corporation
- Assets
- $11.0m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 2
- Location
- Orange, TX
- Founding
- 06/2004
- Data as of
- 09/2023
- EIN
- 22-3873498
Organization Overview
Orange Economic Development Corporation is located in Orange, TX. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Orange Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orange Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Orange Economic Development Corporation generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $3.6m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Orange Economic Development Corporation has awarded 26 individual grants totaling $4,379,434. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORANGE EDC IS A NOT FOR PROFIT 4B SALES TAX CORPORATION SALES TAX REVENUE BY STATE LAW CAN ONLY BE USED FOR ECON DEVEL PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAPTER 380 ECONOMIC DEVELOPMENT PROGRAM-REIMBURSEMENT OF SALES TAX TO AN ANNEXED PROPERTY, PER THE CHAPTER 380 AGREEMENT.
BOULEVARD/STREET CONSTRUCTION FOR THE EAGLE POINT DEVELOPMENT PROJECT.
SMALL BUSINESSES- ECONOMIC INCENTIVES BY REIMBURSING APPROVED, QUALIFIED INFRASTRUCTURE IMPROVEMENTS FOR APPROVED APPLICATIONS. UNION PACIFIC RAILROAD - $739.00 COLUMBANUS MOTOR SPORTS, LLC - $100,000 LITTLE CYPRESS GROVE, LLC - $300,000 ORANGE STATIONER - $75,000 ORANGE CITY DONUT - $53,000 THE RESERVE AT MALLARD LAKES - $100,000 SULZER ELECTRO MECHANICAL SERVICES - $150,000
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Spears Director | Trustee | $0 | |
Paul Burch Secretary | Officer | $0 | |
Randy L Trahan Executive Director | $0 | ||
Brad Childs Vice President | Officer | $0 | |
Tremena Horn Director | Trustee | $0 | |
Jason Rodrigue Director | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,659 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,659 |
| Total Program Service Revenue | $0 |
| Investment income | $135,005 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,267,974 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,566,752 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $154,733 |
| Compensation of current officers, directors, key employees. | $154,733 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,310 |
| Pension plan accruals and contributions | $39,034 |
| Other employee benefits | $22,700 |
| Payroll taxes | $16,168 |
| Fees for services: Management | $129,727 |
| Fees for services: Legal | $15,211 |
| Fees for services: Accounting | $8,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,967 |
| Office expenses | $6,961 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,000 |
| Travel | $8,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,288 |
| Interest | $147,371 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $240,527 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,551,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,153,187 |
| Savings and temporary cash investments | $250,540 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $540,259 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,768 |
| Net Land, buildings, and equipment | $5,966,983 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,975 |
| Total assets | $11,026,712 |
| Accounts payable and accrued expenses | $53,242 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $3,847,547 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,859 |
| Total liabilities | $3,923,648 |
| Net assets without donor restrictions | $2,143,410 |
| Net assets with donor restrictions | $4,959,654 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,026,712 |
Grants Awarded
Over the last fiscal year, Orange Economic Development Corporation has awarded $815,934 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF ORANGE | | | $37,195 |
UNION PACIFIC RAILROAD | | | $739 |
COLUMBANUS MOTOR SPORTS L | | | $100,000 |
LITTLE CYPRESS GROVE LLC | | | $300,000 |
ORANGE STATIONER | | | $75,000 |
HORN SEAORANGE CITY DONUT | | | $53,000 |