North East Texas Economic Development District Inc
- Assets
- $5.5m
- Revenue
- $615.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Texarkana, TX
- Founding
- 11/1968
- Data as of
- 09/2023
- EIN
- 75-1251870
Organization Overview
North East Texas Economic Development District Inc is located in Texarkana, TX. The organization was established in 1968. According to its NTEE Classification (S32) the organization is classified as: Rural 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. North East Texas Economic Development District 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.
For the year ending 09/2023, North East Texas Economic Development District Inc generated $615.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.3% each year . All expenses for the organization totaled $470.5k during the year ending 09/2023. While expenses have increased by 4.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE, DEVELOP, AND ADMINISTER A PROGRAM FOR PLANNING AND DEVELOPMENT IN ORDER TO IMPROVE ECONOMIC CONDITIONS IN THE DISTRICT WITH RESPECT TO UNEMPLOYMENT, UNDER-EMPLOYMENT, AND DISTRESSED ECONOMIC CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ASSIST IN THE DEVELOPMENT OF BUSINESSES AND ECONOMIC GROWTH IN THE RURAL AREAS OF NORTH EAST TEXAS THROUGH THE PROVISION OF REVOLVING LOAN FUNDS MANAGED BY THE ARK-TEX COUNCIL OF GOVERNMENTS. THE ORGANIZATION PROVIDES ECONOMIC PLANNING ACTIVITIES AND TECHNICAL ASSISTANCE, PREPARES THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS) AND WORKS WITH COMMUNITIES ON EDA PUBLIC WORKS AND DEVELOPMENT FACILITIES PROGRAMS.
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 |
|---|---|---|---|
Bobby Howell President | OfficerTrustee | 1 | $0 |
Scott Norton Vice President | OfficerTrustee | 1 | $0 |
Travis Ransom Secretary | OfficerTrustee | 1 | $0 |
Scott Lee Treasurer | OfficerTrustee | 1 | $0 |
Tanner Crutcher Director | Trustee | 1 | $0 |
Robert Newsom Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $372,029 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,893 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $446,922 |
| Total Program Service Revenue | $151,635 |
| Investment income | $17,388 |
| 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 | $615,945 |
| 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 | $135,328 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,389 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $179,901 |
| Advertising and promotion | $491 |
| Office expenses | $7,869 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,142 |
| Travel | $14,081 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,769 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $470,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $570,933 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $312,402 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,605,174 |
| 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 | $3,826 |
| Total assets | $5,492,335 |
| Accounts payable and accrued expenses | $2,365 |
| 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 | $0 |
| Total liabilities | $2,365 |
| Net assets without donor restrictions | $5,489,970 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,492,335 |