Midtown Improvement And Development Corporation
- Assets
- $1.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 12/2015
- Data as of
- 12/2021
- EIN
- 47-3549741
Organization Overview
Midtown Improvement And Development Corporation, operating under the name Midtown Park Conservancy, is located in Houston, TX. The organization was established in 2015. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midtown Park Conservancy 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 12/2021, Midtown Park Conservancy generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AID AND ASSIST THE MIDTOWN REDEVELOPMENT AUTHORITY OF THE CITY OF HOUSTON, TEXAS WITH THE IMPLEMENTATION OF THE PROJECT PLAN FOR THE REINVESTMENT ZONE NUMBER TWO, CITY OF HOUSTON, TEXAS, AND THE MIDTOWN MANAGEMENT DISTRICT, A SPECIAL DISTRICT CREATED UNDER CHAPTER 3809, TEXAS SPECIAL DISTRICT LOCAL LAWS CODE, WITH THE PROMOTION, DEVELOPMENT, ENCOURAGEMENT AND MAINTENANCE OF EMPLOYMENT, COMMERCE, TRANSPORTATION, HOUSING, TOURISM, RECREATION, THE ARTS, ENTERTAINMENT, ECONOMIC DEVELOPMENT, SAFETY AND THE PUBLIC WELFARE IN THE MIDTOWN AREA OF THE CITY OF HOUSTON, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AID AND ASSIST THE MIDTOWN REDEVELOPMENT AUTHORITY OF THE CITY OF HOUSTON, TEXAS WITH THE IMPLEMENTATION OF THE PROJECT PLAN FOR THE REINVESTMENT ZONE NUMBER TWO, CITY OF HOUSTON, TEXAS, AND THE MIDTOWN MANAGEMENT DISTRICT, A SPECIAL DISTRICT CREATED UNDER CHAPTER 3809, TEXAS SPECIAL DISTRICT LOCAL LAWS CODE, WITH THE PROMOTION, DEVELOPMENT, ENCOURAGEMENT AND MAINTENANCE OF EMPLOYMENT, COMMERCE, TRANSPORTATION, HOUSING, TOURISM, RECREATION, THE ARTS, ENTERTAINMENT, ECONOMIC DEVELOPMENT, SAFETY AND THE PUBLIC WELFARE IN THE MIDTOWN AREA OF THE CITY OF HOUSTON, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Franks Acting Board Chair | OfficerTrustee | 15 | $0 |
Matt Thibodeaux Secretary | OfficerTrustee | 15 | $0 |
Abe S Goren Board Member | Trustee | 15 | $0 |
Willie T Coleman Board Member | Trustee | 15 | $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 | $1,434,668 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,434,668 |
| Total Program Service Revenue | $0 |
| Investment income | $1,044 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,765 |
| 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 | $1,453,477 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $527,011 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,597 |
| Payroll taxes | $29,014 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,000 |
| Fees for services: Accounting | $13,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $464,461 |
| Advertising and promotion | $0 |
| Office expenses | $33,898 |
| Information technology | $1,624 |
| Royalties | $0 |
| Occupancy | $44,853 |
| Travel | $6,034 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,180 |
| All other expenses | $0 |
| Total functional expenses | $2,440,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,144,497 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,583 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,186,080 |
| Accounts payable and accrued expenses | $239,709 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $1,744 |
| Other liabilities | $0 |
| Total liabilities | $241,453 |
| Net assets without donor restrictions | $15,175 |
| Net assets with donor restrictions | $929,452 |
| 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 | $1,186,080 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midtown Improvement And Development Corporation has recieved totaling $140,000.
| Awarding Organization | Amount |
|---|---|
Houston Arts Alliance Houston, TX PURPOSE: General support | $140,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Martin Iberia Lafayette Parishes Community Action Agency Lafayette, LA | $1,628,921 | $19,226,376 |
El Paso Community Action Program Project Bravo Inc El Paso, TX | $2,433,349 | $16,653,742 |
Abilene Improvement Corporation Abilene, TX | $4,300,132 | $16,087,347 |
Waterloo Greenway Conservancy Austin, TX | $14,294,713 | $19,654,960 |
Avance Inc San Antonio, TX | $3,341,095 | $14,922,059 |
Northwest Arkansas Council Foundation Springdale, AR | $9,473,428 | $13,530,717 |
First Colony Community Services Association Inc Sugar Land, TX | $19,403,817 | $10,458,068 |
Community Council Of South Central Seguin, TX | $2,045,180 | $10,473,350 |
Downtown Dallas Inc Dallas, TX | $7,773,347 | $10,211,090 |
Lakewest Revitalization Foundation Inc Dallas, TX | $0 | $14,279 |
Mid-Delta Community Services Inc Helena, AR | $2,889,498 | $10,056,138 |
Communities Unlimited Inc Fayetteville, AR | $26,843,803 | $9,936,122 |