Carthage Improvements Corporation
- Assets
- $1.5m
- Revenue
- $762.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Carthage, TX
- Founding
- 02/2000
- Data as of
- 09/2022
- EIN
- 75-2792161
Organization Overview
Carthage Improvements Corporation is located in Carthage, TX. The organization was established in 2000. 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. Carthage Improvements 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 09/2022, Carthage Improvements Corporation generated $762.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $445.7k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Carthage Improvements Corporation has awarded 14 individual grants totaling $1,702,466. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT AND ACCOMPLISH PUBLIC PURPOSES FOR THE CITY OF CARTHAGE, TEXAS, BY PROMOTING, ASSISTING AND ENHANCING ECONOMIC DEVELOPMENT ACTIVITIES FOR THE CITY AS PROVIDED BY THE STATE OF TEXAS DEVELOPMENT CORPORATION ACT OF 1979, LOCAL GOVERNMENT CODE, CHAPTER 505.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CARTHAGE IMPROVEMENT CORPORATION ASSISTED THE CITY OF CARTHAGE WITH THE MAINTENANCE OF HERSHELL BECK PARK.
IN COOPERATION WITH PANOLA COLLEGE, THE ORGANIZATION GRANTED 350,000 TOWARD A 1.4 MILLION PROJECT TO PROVIDE A CITY OF CARTHAGE BASEBALL FIELD WITH ARTIFICIAL TURF. THIS FIELD IS UTILIZED BY THE COLLEGE BASEBALL TEAM AND WILL ALSO PROVIDE ENHANCED OPPORTUNITIES FOR TOURNAMENT ACTIVITY AS A MEANS OF ATTRACTING TOURISM TO THE CARTHAGE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Samford Recording Se | Officer | 15 | $30,900 |
Olin Joffrion President | OfficerTrustee | 1 | $0 |
Walta Cooke Secretary/tr | OfficerTrustee | 1 | $0 |
Stephen K Williams Chief Exec O | Officer | 4 | $0 |
Dr Anthony Edwards Director | Trustee | 1 | $0 |
Jerry Hanszen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $7,596 |
| 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 | $762,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $375,000 |
| 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. | $30,900 |
| Compensation of current officers, directors, key employees. | $10,815 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,364 |
| Fees for services: Management | $16,821 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $909 |
| Office expenses | $399 |
| Information technology | $2,710 |
| Royalties | $0 |
| Occupancy | $1,625 |
| Travel | $359 |
| 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 | $2,426 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $445,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $984,621 |
| Savings and temporary cash investments | $400,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69,413 |
| 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 | $41,047 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,495,081 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,495,081 |
| 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 | $1,495,081 |
Grants Awarded
Over the last fiscal year, Carthage Improvements Corporation has awarded $375,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF CARTHAGE PURPOSE: PARK IMPROVEMENTS | $350,000 |
CITY OF CARTHAGE PURPOSE: PARK MAINTENANCE | $25,000 |
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 |