Aspermont Small Business Development Center Inc

Organization Overview

Aspermont Small Business Development Center Inc is located in Aspermont, TX. The organization was established in 1966. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 02/2024, Aspermont Small Business Development Center Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspermont Small Business Development Center Inc 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 02/2024, Aspermont Small Business Development Center Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $3.3m during the year ending 02/2024. While expenses have increased by 6.5% per year over the past 9 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

2024

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE ASPERMONT SMALL BUSINESS DEVELOPMENT CENTER IS TO PROVIDE RURAL PUBLIC TRANSPORTATION, ENERGY ASSISTANCE, AND OTHER ASSISTANCE TO THE PEOPLE IN THE TEXAS COUNTIES OF HASKELL, JONES, KENT, KNOX, STONEWALL, AND THROCKMORTON.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMPREHENSIVE ENERGY ASSISTANCE PROGRAM PROVIDES ENERGY ASSISTANCE FOR ELDERLY/DISABLED INDIVIDUALS AND OTHER LOW-INCOME INDIVIDUALS. ASSISTANCE IS PROVIDED BY HELPING TO PAY UTILITY BILLS DURING PEAK USAGE AND EMERGENCY TIMES AND TO PROVIDE REPAIRS AND PROMOTE ENERGY EFFICIENCY TO THE CLIENTS HEATING/COOLING EQUIPMENT.


PROVIDE RURAL TRANSPORTATION FOR INDIVIDUALS IN THE SIX COUNTY SERVICE AREA. IN ADDITION, TRANSPORTATION IS PROVIDED FOR INDIVIDUALS IN THE RURAL AREA TO SEEK MEDICAL CARE IN SURROUNDING CITIES.


COMMUNITY SERVICE BLOCK GRANT FUNDS ARE USED TO HELP HOUSEHOLDS WITH HEALTH CARE, HOUSEHOLD EXPENSES, AND CHILDRENS EDUCATIONAL NEEDS. IN ADDITION ONE-ON-ONE ASSISTANCE IS GRANTED TO INDIVIDUALS WHO WANT TO BREAK THE CYCLE OF POVERTY AND OBTAIN ADDITIONAL EDUCATION OR JOB SKILL TRAINING.


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Board, Officers & Key Employees

Name (title)Compensation
Patti Sedberry
Interim Executive Director
$81,459
Linda Thaxton
Director
$0
Paula Mcduff
Director
$0
Mary Hagle
Director
$0
Carla Thornton
Director
$0
Michelle Stone
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,563,771
All other contributions, gifts, grants, and similar amounts not included above$11,156
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,574,927
Total Program Service Revenue$45,313
Investment income $28,955
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 $3,661,260

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