Metroplex Economic Development Corp
- Assets
- $2.9m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 12
- Location
- Dallas, TX
- Founding
- 09/1998
- Data as of
- 12/2021
- EIN
- 75-2768840
Organization Overview
Metroplex Economic Development Corp is located in Dallas, TX. The organization was established in 1998. 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 12/2021, Metroplex Economic Development Corp employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metroplex Economic Development Corp 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 12/2021, Metroplex Economic Development Corp generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (27.6%) per year over the past 7 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
TO ALLEVIATE POVERTY AND ITS EFFECTS ON THE LOCAL COMMUNITY AND TO PROVIDE EDUCATION. THE ORGANIZATION OPERATES AS A LOCAL ECONOMIC DEVELOPMENT CORPORATION, PROVIDING FUNDING TO LOCAL BUSINESSES, JOB TRAINING & EDUCATION, BUSINESS COUNSELING, COMMUNITY SERVICES, AND SIMILAR ACTIVITIES TO RELIEVE POVERTY IN ECONOMICALLY DEPRESSED AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEXAS OFFENDERS RE-ENTRY INITIATIVE (TORI): TO AIDE AND ASSIST EX-OFFENDERS IN TRANSITIONING BACK INTO SOCIETY BY PROVIDING EMPLOYMENT TRAINING, COUNSELING AND PLACEMENT SERVICES AS WELL AS TRANSITIONAL HOUSING.
ECONOMIC DEVELOPMENT: BUSINESS NETWORK, CONFERENCES, AND PROJECTS THAT FACILITATE BUSINESS AND ECONOMIC GROWTH, JOB TRAINING AND EDUCATION, AND COMBAT COMMUNITY DETERIORATION.
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 |
|---|---|---|---|
Tina Naidoo Executive Director Tori | Officer | 40 | $141,859 |
Darwin Bruce Board Chairman | OfficerTrustee | 1 | $0 |
Consuela Holmes Treasurer | OfficerTrustee | 1 | $0 |
Kim Drayton Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hairston Global Protection Services Security Services | 12/30/20 | $126,941 |
The Leap Agency Llc Digital Marketing | 12/30/20 | $101,291 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $291,312 |
| All other contributions, gifts, grants, and similar amounts not included above | $498,089 |
| Noncash contributions included in lines 1a–1f | $64,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $789,401 |
| Total Program Service Revenue | $451 |
| Investment income | $197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $159,254 |
| 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 | $1,796,959 |
| 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. | $184,939 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $375,495 |
| Pension plan accruals and contributions | $12,898 |
| Other employee benefits | $112,492 |
| Payroll taxes | $36,433 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $875 |
| Fees for services: Accounting | $54,933 |
| 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 | $346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,208 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,376 |
| Insurance | $30,859 |
| All other expenses | $55,288 |
| Total functional expenses | $1,144,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,392,808 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,915 |
| 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 | $618 |
| Net Land, buildings, and equipment | $241,871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $252,074 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,916,286 |
| Accounts payable and accrued expenses | $99,101 |
| Grants payable | $0 |
| Deferred revenue | $6,106 |
| 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 | $2,642 |
| Total liabilities | $107,849 |
| Net assets without donor restrictions | $2,808,437 |
| 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 | $2,916,286 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Metroplex Economic Development Corp has recieved totaling $36,125.
| Awarding Organization | Amount |
|---|---|
United Way Of Metropolitan Dallas Inc Dallas, TX PURPOSE: PROGRAM OPS COST | $30,000 |
Trusted World Foundation Garland, TX PURPOSE: LIVING ASSISTANCE | $6,125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |