Is it real?
No. The IRS revoked its tax exemption. Latest filing on record: FY2024. IRS ruling in May 1998.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
62 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
7 people listed on the 990.
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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 15aNo
Programs and updates
Grows the economy and jobs in Giddings, Texas.
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Promote economic development in giddings, TX by providing business retention and expansion grants, business attraction grants and preserving and restoring historic properties for downtown revitalization.
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By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.5M | $1.6M |
| Land, buildings, equipmentLn 10c | $3.5M | $3.5M |
| Total assetsLn 16 | $5.3M | $5.4M |
| LiabilitiesLn 26 | $1.3M | $1.1M |
| Net assetsLn 32 | $4.0M | $4.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $79K | $79K | ||
| Pension plan contributionsLn 8 | $14K | $14K | ||
| Other employee benefitsLn 9 | $6K | $6K | ||
| Payroll taxesLn 10 | $7K | $7K | ||
| Legal feesLn 11b | $1K | $1K | ||
| Accounting feesLn 11c | $8K | $8K | ||
| Advertising and promotionLn 12 | $800 | $800 | ||
| Office expensesLn 13 | $5K | $5K | ||
| Information technologyLn 14 | $4K | $4K | ||
| OccupancyLn 16 | $15K | $15K | ||
| TravelLn 17 | $25K | $25K | ||
| Conferences, conventions and meetingsLn 19 | $621 | $621 | ||
| InterestLn 20 | $50K | $50K | ||
| Other expenses (24a–d)Ln 24 | $230K | $223K | $7K | |
| Total functional expensesLn 25 | $445K | $275K | $170K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.1M | $589K | $480K | $5.0M | 990 PDF |
| FY2023 | $987K | $800K | $187K | $4.5M | 990 PDF |
| FY2022 Viewing | $704K | $445K | $259K | $4.2M | 990 PDF |
| FY2021 | $696K | $427K | $269K | $4.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $704,225 across 4 lines filed
Part IX · Statement of functional expenses $444,984 across 14 lines filed
Part X · Balance sheet $5,371,991 assets, 12 lines filed
Part XI · Reconciliation of net assets $4,238,185 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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