Bastrop Economic Development Corporation
- Assets
- $8.3m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bastrop, TX
- Founding
- 12/1997
- Data as of
- 09/2018
- EIN
- 74-2760534
Organization Overview
Bastrop Economic Development Corporation is located in Bastrop, TX. The organization was established in 1997. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bastrop 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 09/2018, Bastrop Economic Development Corporation generated $2.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.5m during the year ending 09/2018. While expenses have increased by 1.7% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE IN BASTROP BY PROVIDING THE APPROPRIATE INFRASTRUCTURE AS REQUIRED. THE BASTROP EDC WILL PROMOTE AND ASSIST ECONOMIC DEVELOPMENT WHICH WILL PROVIDE OUR RESIDENTS MEANINGFUL AND REWARDING EMPLOYMENT OPPORTUNITIES AND GREATER ACCESS TO DESIRABLE GOODS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE THE QUALITY OF LIFE IN BASTROP BY PROVIDING THE APPROPRIATE INFRASTRUCTURE AS REQUIRED. THE BASTROP EDC WILL PROMOTE AND ASSIST ECONOMIC DEVELOPMENT WHICH WILL PROVIDE OUR RESIDENTS MEANINGFUL AND REWARDING EMPLOYMENT OPPORTUNITIES AND GREATER ACCESS TO DESIRABLE GOODS AND SERVICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Kirkpatrick Executive Director | Officer | 40 | $114,039 |
Angela Ryan Executive Assistant | Officer | 40 | $67,580 |
Katheryn Nash Member-Chairman | OfficerTrustee | 1 | $0 |
Michael Kamerlander Executive Director | Officer | 40 | $0 |
Kevin Plunkett Member-Vice Chairman | Trustee | 1 | $0 |
Sam Kier Member-Sec/treas | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $77,078 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,800 |
| 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 | $2,624,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $401,672 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $181,472 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,161 |
| Pension plan accruals and contributions | $10,249 |
| Other employee benefits | $5,143 |
| Payroll taxes | $17,187 |
| Fees for services: Management | $18,000 |
| Fees for services: Legal | $65,691 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,248 |
| Advertising and promotion | $50,165 |
| Office expenses | $20,478 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,792 |
| Travel | $39,560 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,967 |
| Interest | $181,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,792 |
| Insurance | $1,290 |
| All other expenses | $0 |
| Total functional expenses | $1,517,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,020 |
| Savings and temporary cash investments | $5,686,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $388,361 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,370 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $49,800 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $621,222 |
| Total assets | $8,339,578 |
| Accounts payable and accrued expenses | $381,529 |
| Grants payable | $0 |
| Deferred revenue | $44,403 |
| Tax-exempt bond liabilities | $1,360,000 |
| Escrow or custodial account liability | $521,696 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $372,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,125,692 |
| Total liabilities | $5,284,124 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $695,592 |
| Total liabilities and net assets/fund balances | $3,055,454 |
Grants Awarded
Over the last fiscal year, Bastrop Economic Development Corporation has awarded $1,609,196 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF BASTROP PURPOSE: BUSINESS PARK INFRASTRUCTURE - STEEET AND WATER/WASTEWATER IMPROVEMENTS | $1,197,116 |
CITY OF BASTROP PURPOSE: MAIN ST., PARKS & INFRASTRUCTURE & ADMIN SUPPORT | $392,080 |
CITY OF BASTROP PURPOSE: PARKS TRUCK | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |