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.
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 |
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 |