Canadian-Hemphill County Economic Development Corporation
- Assets
- $604.7k
- Revenue
- $252.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Canadian, TX
- Founding
- 12/1996
- Data as of
- 09/2021
- EIN
- 75-2627695
Organization Overview
Canadian-Hemphill County Economic Development Corporation is located in Canadian, TX. The organization was established in 1996. 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. As of 09/2021, Canadian-Hemphill County Economic Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canadian-Hemphill County Economic Development Corporation 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, Canadian-Hemphill County Economic Development Corporation generated $252.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $210.2k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CANADIAN-HEMPHILL COUNTY ECONOMIC DEVELOPMENT CORP IS ORGANIZED TO PROMOTE ECONOMIC DEVELOPMENT IN AND AROUND THE CITY OF CANADIAN, TEXAS AND HEMPHILL COUNTY, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED TO PROMOTE AND RECRUIT ECOLOGICALLY STRONG INDUSTRY TO THE CANADIAN - HEMPHILL COUNTY AREA AS WELL AS PROMOTING RETENTION AND EXPANSION OF EXISTING INDUSTRY IN THE CANADIAN - HEMPHILL COUNTY AREA.
THE CORPORATION CONTRACTS WITH THE CANADIAN - HEMPHILL COUNTY CHAMBER OF COMMERCE (THE "CHAMBER") TO OPERATE CHAMBER ACTIVITIES. THE CHAMBER PROMOTES LOCAL BUSINESSES AND THE COMMUNITY IN GENERAL. THE OPERATION OF THE CHAMBER FURTHERS ECONOMIC DEVELOPMENT IN THE CANADIAN - HEMPHILL COUNTY AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawana Pulliam Secretary | OfficerTrustee | 5 | $0 |
Remelle Farrar President | OfficerTrustee | 5 | $0 |
Heath Mitchell Vice President | OfficerTrustee | 5 | $0 |
Shane Spencer Executive Dir. | Officer | 40 | $0 |
Nicholas Thomas Board Member | Trustee | 5 | $0 |
Bryan Bartlett Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $198,185 |
| 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 | $198,185 |
| Total Program Service Revenue | $50,000 |
| Investment income | $262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,040 |
| 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 | $252,487 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,578 |
| 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 | $78,673 |
| Pension plan accruals and contributions | $2,318 |
| Other employee benefits | $16,009 |
| Payroll taxes | $7,460 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,121 |
| Royalties | $0 |
| Occupancy | $6,909 |
| Travel | $1,208 |
| 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 | $5,243 |
| Insurance | $1,956 |
| All other expenses | $8,307 |
| Total functional expenses | $210,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $576,406 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,910 |
| 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 | $9,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $604,664 |
| Accounts payable and accrued expenses | $760 |
| 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 | $26,532 |
| Total liabilities | $27,292 |
| Net assets without donor restrictions | $0 |
| 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 | $577,372 |
| Total liabilities and net assets/fund balances | $604,664 |
Grants Awarded
Over the last fiscal year, Canadian-Hemphill County Economic Development Corporation has awarded $18,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PCS OILFIELD SERVICES PURPOSE: JOB RETENTION | $6,500 |
FOUR K SERVICES INC PURPOSE: JOB RETENTION | $6,000 |
COFFEE HEAT & AIR LLC PURPOSE: JOB RETENTION | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |