Weatherford-Parker County Economic Development Corp in Weatherford, Texas (TX)

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Weatherford-Parker County Economic Development Corp
Employer Identification Number (EIN)751285935
Name of OrganizationWeatherford-Parker County Economic Development Corp
AddressPO BOX 255, Weatherford, TX 76086-0255
ActivitiesAttracting new industry or retaining industry in an area
SubsectionCivic League
Ruling Date06/1975
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$1 to $9,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$372,977
Amount of Income$2,675
Form 990 Revenue Amount$2,675
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2013: $2,675
Weatherford-Parker County Economic Development Corp: 

 $2,675
Other organizations performing similar types of work: 

 $623,666

Assets in 2013: $372,977
Weatherford-Parker County Economic Development Corp: 

 $372,977
Other organizations performing similar types of work: 

 $2,159,711

Expenses in 2013: $4,286
Weatherford-Parker County Economic Development Corp: 

 $4,286
Other organizations performing similar types of work: 

 $483,294

Income to expenses ratio in 2013: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 33.6%
Weatherford-Parker County Economic Development Corp: 

 33.6%
Other organizations performing similar types of work: 

 25.8%

Grants share in income in 2013: 0.0%
Weatherford-Parker County Economic Development Corp: 

 0.0%
Other organizations performing similar types of work: 

 28.9%

Financial snapshot ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$2,822$2,675
Contributions, gifts, grants, and similar amounts received$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Investment income$2,822$2,675
Gain/Loss from sale of assets other than inventory$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0
Other revenue$0$0
Total expenses$8,938$4,286
Total net assets$374,588$372,977
Excess/Deficit for the year$-6,116$-1,611
Net assets or fund balances at beginning of year$380,704$374,588
Other changes in net assets or fund balances$0$0
Net assets or fund balances at end of year$374,588$372,977
Balance Sheets
201120122013
Total assets$380,704$374,588$372,977
Total liabilities$0$0$0
Net assets or fund balances$374,588$372,977
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:Not provided
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420062007
Total revenue$127,278$130,653$92,749$122,243$98,444$79,141$58,222
Contributions, gifts, grants, and similar amounts received$125,923$129,340$92,500$122,782$97,317$0$0
Contributions to donor advised funds$0$0
Direct public support$2,423$22,090$0$12,282$13,320$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$123,500$107,250$0$110,500$83,997$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$1,355$1,313$0$230$218$0$5,337
Dividends and interest from securities$0$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0$49,333
Gross rents$0$0$0$0$0$0$49,333
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$79,141$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$100,000$0
Less: cost or other basis and sales expenses$0$0$0$0$0$20,859$0
Net income or (loss) from special events and activities$0$0$0$-946$0$0$0
Gross revenue$0$0$0$7,469$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$8,415$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$432$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$432$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$177$477$0$3,552
Total expenses$116,669$123,252$127,225$125,512$107,286$4,592$3,819
Program services$104,867$110,862$0$112,909$92,474$1,284$1,284
Management and general$11,802$12,390$0$12,603$14,812$3,308$2,535
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$241,274$248,675$215,419$212,150$204,254$273,564$327,967
Excess or (deficit) for the year$10,609$7,401$-34,476$-3,269$-8,842$74,549$54,403
Net assets or fund balances at beginning of year$230,665$241,274$248,675$215,419$212,150$199,014$273,564
Other changes in net assets or fund balances$0$0$1,220$0$946$1$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,819$1,284$2,535$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$506$0$506$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$1,428$1,284$144$0
Other expenses not covered above$1,885$0$1,885$0
Balance Sheets
2000200120022003200420062007
Total assets$241,274$250,560$215,356$216,848$206,246$273,616$327,967
Cash - non-interest-bearing$26,466$37,427$0$10,288$3,708$6,000$7,363
Savings and temporary cash investments$13,000$13,811$0$11,047$8,713$87,000$136,337
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$201,798$199,322$196,682$195,513$193,825$180,616$184,267
Other assets, including program-related investments$10$0$0$0$0$0$0
Total liabilities$0$1,885$-63$4,698$1,992$52$0
Accounts payable and accrued expenses$0$1,885$0$4,698$52$52$0
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$1,940$0$0
Total liabilities and net assets/fund balances$241,264$250,560$0$216,848$206,246$273,616$327,967
Total net assets or fund balances$241,274$248,675$215,419$212,150$204,254$273,564$327,967
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420062007
Total revenue$127,278$130,653$0$122,243$0$0$0
Total revenue, gains, and other support per audited financial statements$127,278$130,653$0$122,243$0$0$0
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420062007
Total expenses$116,669$123,252$0$125,512$0$0$0
Total expenses and losses per audited financial statements$116,669$123,252$0$125,512$0$0$0
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings11
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$58,222$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$5,337$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$49,333$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Gross income from an unrelated activity that is regularly carried on but, in light of continuous losses sustained over a number of tax periods, cannot be regarded as being conducted with the motive to make a profit (not a trade or business)$3,552$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
1999200020012002200320052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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IdNameAddressStateEstablishedTotal Income
1Greater Houston Partnership Inc1200 Smith St Ste 700, Houston, TX 77002-4400TX1990-07$21,893,348
2Manned Space Flight Education Foundation Incorporated1601 Nasa Pkwy, Houston, TX 77058-3145TX1987-09$21,404,017
3Fort Worth Convention And Visitors Bureau111 W 4th St Ste 200, Fort Worth, TX 76102-3974TX1987-07$9,441,434
4Edinburg Economic Development CorporationPO BOX 1079, Edinburg, TX 78540-1079TX1992-04$5,053,570
5Corpus Christi Area Convention And Tourist Bureau Inc101 N Shoreline Blvd Ste 430, Crp Christi, TX 78401-2825TX1957-08$4,926,921
6Economic Development Corporation Of Weslaco275 S Kansas Ste A, Weslaco, TX 78596-6158TX1992-03$4,909,257
7Greater Brownsville Incentives CorporationPO BOX 911, Brownsville, TX 78522-0911TX1992-08$4,412,691
8Marshall Economic Development CorpMarshall, TX 75671TX$1,653,542
9Killeen Economic Development Corporation1 Santa Fe Plaza Dr, Killeen, TX 76541-5258TX1991-09$1,507,864
10Avenida Guadalupe Association1313 Guadalupe St Ste 100, San Antonio, TX 78207-5547TX1986-05$1,330,859
11Spirit Of 76 IncPO BOX 1876, Junction City, KS 66441-6876KS1976-07$1,102,440
12Wisconsin Business Development Finance Corporation100 River Pl1 Board Walkll, Monona, WI 53716WI1982-07$6,747,667
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15Iron County Action Plan CommitteePO BOX 108, Ironton, MO 63650MO2000-02$5,517,378
16West Central Arkansas Planning & Development District IncPO BOX 6409, Hot Springs, AR 71902-6409AR1996-03$4,534,357
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18Tyler Economic Development Council315 N Broadway Ave Ste 300, Tyler, TX 75702-5757TX1989-11$1,088,052
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Number of organizations performing similar types of work
Alaska7
Alabama4
Arkansas8
Arizona5
California16
Colorado7
Connecticut3
District of Columbia3
Delaware3
Florida7
Georgia2
Iowa13
Idaho2
Illinois10
Indiana11
Kansas5
Kentucky8
Louisiana11
Massachusetts4
Maryland9
Maine3
Michigan11
Minnesota5
Missouri5
Mississippi5
Montana3
North Carolina13
North Dakota2
Nebraska3
New Hampshire3
New Jersey8
New Mexico2
New York18
Ohio10
Oklahoma2
Oregon1
Pennsylvania39
South Carolina5
South Dakota4
Tennessee3
Texas25
Utah3
Virginia8
Vermont5
Washington6
Wisconsin12
West Virginia6
International1
Total349

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