Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2004.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
71 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
41 people listed on the 990; $172K paid to officers and key staff.
Angela Thomason’s $172K as President/CEO is at the 94th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Lance Lacour | — | — | — | $194,368 | $197,644 |
| Angela Thomason | $172,002 | $78,571 | $75,082 | $60,213 | — |
| Charles H Martinez | — | $25,000 | $169,874 | — | — |
| Angie Thomason | — | $78,751 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promotes planned economic growth to make the Katy area a top place for families and businesses.
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Pursue, enhance, maintain, and promote economic development in katy, texas. Conduct monthly meetings for members to discuss business issues. Partner with katy area chamber of commerce and city of katy and area counties to promote economic development. Advocate and promote excellence in public education.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $262K | $307K |
| Land, buildings, equipmentLn 10c | $13K | $6K |
| Total assetsLn 16 | $290K | $327K |
| LiabilitiesLn 26 | $281K | $317K |
| Net assetsLn 32 | $9K | $10K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $272K | $190K | $60K | $22K |
| Pension plan contributionsLn 8 | $4K | $3K | $889 | $323 |
| Other employee benefitsLn 9 | $2K | $1K | $445 | $162 |
| Payroll taxesLn 10 | $21K | $15K | $5K | $2K |
| Legal feesLn 11b | $29K | $21K | $6K | $2K |
| Accounting feesLn 11c | $8K | $5K | $2K | $600 |
| Advertising and promotionLn 12 | $16K | $11K | $4K | $1K |
| Office expensesLn 13 | $55K | $38K | $12K | $4K |
| Information technologyLn 14 | $38K | $26K | $8K | $3K |
| OccupancyLn 16 | $74K | $52K | $16K | $6K |
| InterestLn 20 | $8K | $5K | $2K | $615 |
| Depreciation, depletion and amortizationLn 22 | $6K | $5K | $1K | $518 |
| InsuranceLn 23 | $34K | $24K | $8K | $3K |
| Other expenses (24a–d)Ln 24 | $20K | $20K | $466 | $169 |
| Total functional expensesLn 25 | $587K | $417K | $125K | $46K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $588K | $587K | $1K | $10K | 990 PDF |
| FY2023 | $479K | $420K | $59K | $9K | 990 PDF |
| FY2022 | $578K | $645K | −$67K | −$58K | 990 PDF |
| FY2021 | $670K | $626K | $43K | $9K | 990 PDF |
| FY2020 | $681K | $643K | $37K | −$34K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $588,302 revenue, 12 lines filed
Part VI · Governance 40 of 40 board members independent, 2 to look at
Part VIII · Statement of revenue $588,302 across 6 lines filed
Part IX · Statement of functional expenses $587,271 across 14 lines filed
Part X · Balance sheet $327,167 assets, 12 lines filed
Part XI · Reconciliation of net assets $10,078 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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