Wharton Economic Development Corp

Organization Overview

Wharton Economic Development Corp is located in Wharton, TX. The organization was established in 2001. 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 09/2023, Wharton Economic Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wharton 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 09/2023, Wharton Economic Development Corp generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.0m during the year ending 09/2023. While expenses have increased by 3.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO DEVELOP A POSITIVE CLIMATE FOR BUSINESSES AND INDUSTRIAL GROWTH AND INVESTMENT; ASSIST IN THE CREATION OF JOBS; INCREASE THE TAX BASE OF THE VARIOUS TAXING ENTITIES; DIVERSIFY THE LOCAL ECONOMY TO MAKE IT MORE IMPERVIOUS TO STATE AND NATIONAL ECONOMIC RECESSION; AND MAKE PLANS AND TAKE NECESSARY ACTIONS TO INSURE THAT ALL NECESSARY INFRASTRUCTURE IS IN PLACE TO ALLOW FOR PROPER DEVELOPMENT OF WHARTON, TEXAS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE GATEWAYS OF WHARTON, TEXAS.


ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE GATEWAYS OF WHARTON, TEXAS.


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Board, Officers & Key Employees

Name (title)Compensation
Joshua Owens
Executive Di
$97,333
Andrew Armour
Secretary
$0
Alice Heard-Roberts
Member
$0
Russell Machann
Member
$0
Freddie Pekar
President
$0
Larry Pittman
Member
$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$1,011,870
Investment income $55,337
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 $1,067,207

Peer Organizations

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Northwest Arkansas Economic Development District Inc
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Greater Brownsville Incentives Corporation
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Cen-Tex Certified Development Corporation
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Greater Houston Partnershipfoundation
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Southern Bancorp Capital Partners
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Orange Economic Development Corporation
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Bastrop Economic Development Corporation
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Central Arkansas Planning And Development District Inc
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Saisd Historic Preservation Corporation
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New Orleans Bioinnovation Center Inc
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Greater New Orleans Development Foundation
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