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Abilene Improvement Corporation

Tax-deductible

Abilene, TX501(c)(3)Since 1987Community DevelopmentEIN 75-2224248Revenue $1.6M in FY2025

On file with the IRS400 Pine St Ste 500, 79601-5137 · Abilene, TXTax-exempt since Oct 1988Publicly supported charity — 170(b)(1)(A)(vi)

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To stimulate the development, growth and beautification of the tax increment financing district to combat deterioration through the erection of public buildings, improvements and works.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $77K a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $2.1M
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
×23 vs prior year
Spent
$2.0M
To programs
99%
Net assets
$4.8M
By yearFY2020–FY2025
Revenue
$1.6M
FY2025▲ ×23
Tap a bar for its year
Revenue by fiscal year
FY2020$11
FY2021$16.1M
FY2022−$29K
FY2023$967K
FY2024$68K
FY2025$1.6M
Expenses
$2.0M
FY2025▲ ×85
Tap a bar for its year
Expenses by fiscal year
FY2020$13K
FY2021$16.1M
FY2022$15K
FY2023$18K
FY2024$24K
FY2025$2.0M
Net assets
$4.8M
FY2025▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.3M
FY2021$4.3M
FY2022$4.3M
FY2023$5.2M
FY2024$5.2M
FY2025$4.8M

From the FY2025 Form 990 (year ending September 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1988.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $2.0M Management & general 1% · $21K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mitch Barnett
President
$0Pt VII · Sec A
Ted Evans
Vice President
$0Pt VII · Sec A
See Abilene Improvement 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

Improves and beautifies a tax district to fight decay with new public buildings and infrastructure.

Questions for Abilene Improvement Corporation

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Provided by the organization

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1 program · $2.0M · in their own filed words · FY2024
01

To stimulate the development, growth and beautification of the tax increment financing district to combat deterioration through the erection of public buildings, improvements and works.

$2.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Community Foundation of AbileneFY2024$1.1M
Dian Graves Owen FoundationFY2024$513K
The Legett FoundationFY2024$238K
Kickapoo Springs FoundationFY2024$238K
Total grants receivedfrom 4 funders$2.1M
See all 4 funders →
Grants paid · 3 grants · $34.2M · 2020–2024
City of AbileneFY2024$2,017,500
City of Abilene - Hotel Development CorpFY2020$16,086,481
City of Abilene - Hotel Development CorpFY2020$16,086,481

By the numbers

The FY2025 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$16K
Money outPt IX
$2.0M
Ln 25
Programscol B$2.0M
Managementcol C$21K
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$750K
Total assetsLn 16$5.8M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$16K
Gains on assetsLn 7−$444K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$750K
Cash and savings togetherLn 1–2$750K
Land, buildings, equipmentLn 10c$5.0M
Total assetsLn 16$5.8M
LiabilitiesLn 26$1.0M
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$437K$750K
Land, buildings, equipmentLn 10c$5.8M$5.0M
Total assetsLn 16$6.2M$5.8M
LiabilitiesLn 26$1.0M$1.0M
Net assetsLn 32$5.2M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.0M$2.0M
Management feesLn 11a$12K$12K
Accounting feesLn 11c$4K$4K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$11K$11K$27
Total functional expensesLn 25$2.0M$2.0M$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.6M$2.0M−$460K$4.8M 990 PDF
FY2024 $68K$24K$44K$5.2M 990 PDF
FY2023 $967K$18K$949K$5.2M 990 PDF
FY2022 −$29K$15K−$44K$4.3M 990 PDF
FY2021 $16.1M$16.1M−$12K$4.3M 990 PDF
FY2020 $11$13K−$13K$4.3M 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 FY2025 990 (6 parts)
Part I · Summary $1,589,443 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $38,302$2,017,500
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $29,923−$428,057
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $68,225$1,589,443
I-13 Grants and similar amounts paidPrior year $0$2,017,500
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $24,144$32,339
I-18 Total expensesPrior year $24,144$2,049,839
I-19 Revenue less expensesPrior year $44,081−$460,396
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,589,443 across 5 lines filed
VIII-1f All other contributions, gifts and grants$2,017,500
VIII-1h Total contributions, gifts and grants$2,017,500
VIII-3 Investment incomeExcluded from tax $16,228$16,228
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$444,285−$444,285
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$428,057$1,589,443
Part IX · Statement of functional expenses $2,049,839 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $2,017,500$2,017,500
IX-11a Management feesManagement $12,000$12,000
IX-11c Accounting feesManagement $3,750$3,750
IX-23 InsuranceManagement $5,475$5,475
IX-24 Other expenses (24a–d)Programs $11,087 · Management $27$11,114
IX-25 Total functional expensesPrograms $2,028,587 · Management $21,252 · Fundraising $0$2,049,839
Part X · Balance sheet $5,788,819 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $436,630$749,736
X-10c Land, buildings and equipment, netStart of year $5,812,584$5,039,083
X-16 Total assetsStart of year $6,249,214$5,788,819
X-26 Total liabilitiesStart of year $1,000,000$1,000,000
X-27 Net assets without donor restrictionsStart of year $5,249,214$4,788,819
X-32 Total net assets or fund balancesStart of year $5,249,214$4,788,819
X-33 Total liabilities and net assetsStart of year $6,249,214$5,788,819
Part XI · Reconciliation of net assets $4,788,819 net assets at year end
XI-1 Total revenue$1,589,443
XI-2 Total expenses$2,049,839
XI-3 Revenue less expenses−$460,396
XI-4 Net assets at start of year$5,249,214
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,788,819

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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