Killeen Economic Development Corporation

Organization Overview

Killeen Economic Development Corporation is located in Killeen, TX. The organization was established in 1991. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, 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. Killeen Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 09/2021, Killeen Economic Development Corporation generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.6m during the year ending 09/2021. While expenses have increased by 10.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE ECONOMIC DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE MATCHING SCHOLARSHIP FUNDS GENERATED IN THE COMMUNITY AND TO BE USED FOR THE CONSTRUCTION OF THE NATIONAL MOUNTED WARFARE MUSUEM


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Board, Officers & Key Employees

Name (title)Compensation
Randy Sutton
Vice President
$0
Karl Green
Secretary
$0
Bobby Hoxworth
Treasurer
$0
John Crutchfield III
Executive Director
$0
Melissa Brown
City Rep
$0
Mayor Jose Segarra
City Rep
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $725,054
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$725,054
Total Program Service Revenue$555,699
Investment income $2,315
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $823,689
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,118,011

Grants Awarded

Over the last fiscal year, Killeen Economic Development Corporation has awarded $1,600,000 in support to 2 organizations.

Grant RecipientAmount

NATIONAL MOUNTED WARFARE FOUNDATION

Org PageRecipient Profile

Copperas Cove, TX

PURPOSE: TO BE USED FOR THE CONSTRUCTION OF THE NATIONAL MOUNTED WARFARE MUSUEM

$1,500,000

TEXAS A&M UNIVERSITY-CENTRAL TEXAS FOUNDATION

PURPOSE: TO PROVIDE MATCHING SCHOLARSHIP FUNDS GENERATED IN THE COMMUNITY

$100,000
View Grant Profile

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