Heb Economic Development Foundation Inc
- Assets
- $186.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bedford, TX
- Founding
- 04/1991
- Data as of
- 09/2023
- EIN
- 75-2349404
Organization Overview
Heb Economic Development Foundation Inc is located in Bedford, TX. The organization was established in 1991. 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. Heb Economic Development 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.
For the year ending 09/2023, Heb Economic Development Foundation Inc generated $41.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $78.1k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
DEVELOP ECONOMIC DEMOGRAPHIC RESOURCE DATABASE TO ALLOW DISSEMINATION OF INFORMATION AND ENHANCE THE KNOWLEDGE AND MARKETABILITY OF THE HEB AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Wilson Chairman | 1 | $0 | |
Steve Farco Treasurer | 1 | $0 | |
Mary Frazior Director | 3 | $0 | |
Linda Martin Director | 1 | $0 | |
Joe Harrington Director | 0.5 | $0 | |
Matt Romero Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,067 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $924 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $40,991 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $2,550 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $75,566 |
| Total expenses | $78,116 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $186,454 |
| Other assets | $0 |
| Total assets | $186,454 |
| Total liabilities | $0 |
| Net assets or fund balances | $186,454 |