Fort Worth Promotion And Development Fund
- Assets
- $807.7k
- Revenue
- $503.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- 02/1995
- Data as of
- 09/2021
- EIN
- 75-2567786
Organization Overview
Fort Worth Promotion And Development Fund is located in Fort Worth, TX. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Fort Worth Promotion And Development Fund 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 09/2021, Fort Worth Promotion And Development Fund generated $503.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $324.2k during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Fort Worth Promotion And Development Fund has awarded 69 individual grants totaling $1,292,724. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO SUPPORT ACTIVITIES WHICH PROMOTE THE CITY OF FORT WORTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND SUPPORTS ACTIVITES WHICH PROMOTE THE CITY OF FORT WORTH. THIS INCLUDES SUPPORTING: LOCAL CONFERENCES, COMMUNITY EVENTS, LOCAL CELEBRATIONS, CITY BLOCK PROJECTS, NATIONAL AND STATE CONVENTIONS AND SHOWS, PUBLIC RELATIONS AND PROMOTIONAL ACTIVITY OF THE CITY, NATIONAL MEDIA EXPOSURE, PUBLICATIONS ABOUT THE CITY, PURCHASE OF GIFTS AND MOMENTOS GIVEN TO DIGNATARIES, VISITORS OF THE CITY, ETC...
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Price President Until May 2021 | OfficerTrustee | 2 | $0 |
Norma Roby Vice President | OfficerTrustee | 1 | $0 |
Mattie Parker President From May 2021 | OfficerTrustee | 2 | $0 |
Brenda Kostohryz Secretary/treasurer | OfficerTrustee | 1 | $0 |
Tim Carter Director | Trustee | 1 | $0 |
Joe Dulle Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $502,225 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $502,225 |
| Total Program Service Revenue | $0 |
| Investment income | $1,019 |
| 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 | $503,244 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $90,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $120 |
| Fees for services: Accounting | $2,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,921 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $4 |
| Total functional expenses | $324,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $807,663 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $807,663 |
| Accounts payable and accrued expenses | $3,241 |
| 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 | $3,241 |
| Net assets without donor restrictions | $804,422 |
| 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 | $807,663 |
Grants Awarded
Over the last fiscal year, Fort Worth Promotion And Development Fund has awarded $80,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VISIT FORT WORTH PURPOSE: SUPPORT FOR BASSMASTER TOURNAMENT | $50,000 |
VISIT FORT WORTH PURPOSE: SUPPORT FOR WORLD PREMIER EVENTS FOR 12 MIGHTY ORPHANS MOVIE | $20,000 |
ARTS COUNCIL OF FORT WORTH AND TARRANT COUNTY PURPOSE: SUPPORT FOR PIONEER TOWER EVENTS AUGUST 20 AND 21 | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fort Worth Promotion And Development Fund has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Texas Health Harris Methodist Hospital Fort Worth Fort Worth, TX PURPOSE: General Purpose | $7,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Spanish Trail-Almeda Corridors Redevelopment Authority Houston, TX | $78,272,041 | $12,203,610 |
Centro Public Improvement District San Antonio, TX | $1,647,971 | $6,189,889 |
Maple Avenue Economic Development Corporation Of Dallas Dallas, TX | $11,933,705 | $3,299,961 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Covenant Community Capital Corporation Houston, TX | $9,362,906 | $2,210,165 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Divinc Austin, TX | $1,242,173 | $2,296,391 |
The Pyramid Community Development Corporation Houston, TX | $3,288,918 | -$1,072,522 |
Technology & Entrepreneurship Center Of Houston Inc Houston, TX | $3,649,151 | $380,691 |
Regional Community Finance Inc New Orleans, LA | $27,779,646 | $1,353,772 |
Duncan Area Economic Development Foundation Duncan, OK | $17,794,309 | $1,169,335 |