Mineral Wells Industrial Foundation Inc
- Assets
- $1.1m
- Revenue
- -$11.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Mineral Wells, TX
- Founding
- 12/1966
- Data as of
- 06/2021
- EIN
- 75-1212952
Organization Overview
Mineral Wells Industrial Foundation Inc is located in Mineral Wells, TX. The organization was established in 1966. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mineral Wells Industrial Foundation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY SERVICE, ATTRACT NEW INDUSTRY, PROMOTE RETENTION OF EXISTING LOCAL INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED IN THE ACQUISITION OF PROPERTY BY A LONG TIME BUSINESS ENTITY AND INDUSTRIAL JOB PROVIDER OF MINERAL WELLS. THE PROPERTY WILL ALLOW FOR FUTURE JOB CREATION AND EXPANSION OF THIS ALREADY IMPORTANT LOCAL BUSINESS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cory Crenshaw President | Officer | 0.5 | $0 |
Keith Boyd 2nd VP -Secretary | Officer | 0.5 | $0 |
Steve Butcher Recording Secr | Officer | 6 | $0 |
Don Crawford Treasurer | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,000 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,592 |
| Net Gain/Loss on Asset Sales | -$58,736 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$11,135 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,800 |
| Travel | $92 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $101,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $397,433 |
| Savings and temporary cash investments | $27,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $622,357 |
| Intangible assets | $0 |
| Other assets | $26,457 |
| Total assets | $1,073,732 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $126,688 |
| Total liabilities | $126,688 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $947,044 |