Post Economic Development Corporation

Tax-deductible

Post, TX501(c)(3)Community DevelopmentEIN 75-1982463

Pedc was formed to support, promote, encourage, and facilitate endeavors that stimulate and encourage economic development of post and garza county.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$9K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$9K
to officers and key staff · 3% of spending
Top officer’s pay lower than 67% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$319K
Spent
$330K
To programs
94%
Net assets
$108K

From the FY2020 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020. IRS ruling in Nov 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $309K Management & general 6% · $20K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

6 people listed on the 990; $9K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$9,240Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A

J Terry Bartlett’s $9K as Executive Dir. is at the 33rd percentile of top reported officer pay among 168 <$100K 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.

See Post Economic Development Corporation executive salaries →

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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

Promotes economic development in Post and Garza County.

Provided by the organization

This section is blank until Post Economic Development Corporation claims this page.

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1 program service account for $309K of program spending, described in the organization's own filed words · FY2020.
01

Financing the building of 2 new homes in post, TX.

$309Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$319K
Ln 12
Fees for servicesLn 2g$300K
Gifts and grantsLn 1h$16K
Other incomeLn 4–11$3K
Money outPt IX
$330K
Ln 25
Programscol B$309K
Managementcol C$20K
Owns and owesPt X
$108K
net assets · Ln 32
Cash and savingsLn 1–2$51K
Total assetsLn 16$108K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Fees for servicesLn 2g$300K
Investment incomeLn 3$53
Other incomeLn 4–11$3K
Gains on assetsLn 7$0
Total revenueLn 12$319K
Assets in detailPt X, end of year
CashLn 1$51K
SavingsLn 2$0
Cash and savings togetherLn 1–2$51K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$58K
Other assetsLn 15$2
Total assetsLn 16$108K
LiabilitiesLn 26$0
Net assetsLn 32$108K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$32K$51K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$58K$58K
Total assetsLn 16$223K$108K
LiabilitiesLn 26$104K$0
Net assetsLn 32$119K$108K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$960$960
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$317$317
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$709$709
Other expenses (24a–d)Ln 24$328K$309K$18K
All other expensesLn 24e$76$76
Total functional expensesLn 25$330K$309K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $319K$330K−$11K$108K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $319,091 across 9 lines filed
VIII-1f All other contributions, gifts and grants$16,300
VIII-1h Total contributions, gifts and grants$16,300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $300,000$300,000
VIII-3 Investment incomeExcluded from tax $53$53
VIII-5 Royalties$0
VIII-6 Net rental income or lossRelated to mission $2,738$2,738
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $302,738 · Excluded from tax $53$319,091
Part IX · Statement of functional expenses $329,816 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $960$960
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelManagement $317$317
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $709$709
IX-24 Other expenses (24a–d)Programs $309,439 · Management $18,315$327,754
IX-24e All other expensesManagement $76$76
IX-25 Total functional expensesPrograms $309,439 · Management $20,377 · Fundraising $0$329,816
Part X · Balance sheet $108,288 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $32,225$50,527
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or useStart of year $132,994$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $57,759$57,759
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2$2
X-16 Total assetsStart of year $222,980$108,288
X-26 Total liabilitiesStart of year $103,967$0
X-32 Total net assets or fund balancesStart of year $119,013$108,288
X-33 Total liabilities and net assetsStart of year $222,980$108,288
Part XI · Reconciliation of net assets $108,288 net assets at year end
XI-1 Total revenue$319,091
XI-2 Total expenses$329,816
XI-3 Revenue less expenses−$10,725
XI-4 Net assets at start of year$119,013
XI-10 Net assets at end of year$108,288

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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