Quinlin Economic Development Corporation FY2021 filing

Not tax-deductible

Quinlan, TX501(c)(4)EIN 75-2708994

Promote economic development in the city of quinlan, texas and promote the public interest as provided by the texas development corporation act of 1979.

79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
6 of 6
filings with a surplus
Average surplus $307K a year · 49% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
244 mo
of spending, in cash
Looks good: 243.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$9K
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$527K
+12% vs prior year
Spent
$132K
To programs
79%
Net assets
$2.8M
By yearFY2020–FY2025
Revenue
$527K
FY2021▲ +12%
Revenue by fiscal year
FY2020$470K
FY2021$527K
FY2022$604K
FY2023$617K
FY2024$720K
FY2025$817K
Expenses
$132K
FY2021▼ -42%
Expenses by fiscal year
FY2020$229K
FY2021$132K
FY2022$373K
FY2023$159K
FY2024$657K
FY2025$361K
Net assets
$2.8M
FY2021▲ +17%
Net assets by fiscal year
FY2020$2.4M
FY2021$2.8M
FY2022$3.0M
FY2023$3.4M
FY2024$3.5M
FY2025$4.0M

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1998.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $104K Management & general 21% · $28K

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.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Quinlin 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

Boosts Quinlan's economy and serves the public interest through development initiatives.

Provided by the organization

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

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1 program service account for $104K of program spending, described in the organization's own filed words · FY2020.
01

Quinlan economic development corporation provides funds necessary to enhance economic development in the city of quinlan, texas. Quinlan economic development corporation provided funds for improved water systems and sidewalk development during the year.

$104Kprogram expense

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By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$527K
Ln 12
Fees for servicesLn 2g$525K
Investment incomeLn 3$2K
Money outPt IX
$132K
Ln 25
Programscol B$104K
Managementcol C$28K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$2.8M
LiabilitiesLn 26$9K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$525K
Investment incomeLn 3$2K
Gains on assetsLn 7$0
Total revenueLn 12$527K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$2.7M
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$2.8M
LiabilitiesLn 26$9K
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.3M$2.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$2.4M$2.8M
LiabilitiesLn 26$42K$9K
Net assetsLn 32$2.4M$2.8M
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$10K$10K
Office expensesLn 13$14K$14K
Information technologyLn 14$103$103
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
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$0
Other expenses (24a–d)Ln 24$90K$90K
All other expensesLn 24e$17K$4K$13K
Total functional expensesLn 25$132K$104K$28K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $817K$361K$456K$4.0M 990 PDF
FY2024 $720K$657K$63K$3.5M 990 PDF
FY2023 $617K$159K$458K$3.4M 990 PDF
FY2022 $604K$373K$230K$3.0M 990 PDF
FY2021 Viewing $527K$132K$395K$2.8M 990 PDF
FY2020 $470K$229K$242K$2.4M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $526,696 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $524,960$524,960
VIII-3 Investment incomeExcluded from tax $1,736$1,736
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
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 $524,960 · Excluded from tax $1,736$526,696
Part IX · Statement of functional expenses $131,834 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 promotionPrograms $10,000$10,000
IX-13 Office expensesManagement $14,430$14,430
IX-14 Information technologyManagement $103$103
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
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 Insurance$0
IX-24 Other expenses (24a–d)Programs $90,377$90,377
IX-24e All other expensesPrograms $3,680 · Management $13,244$16,924
IX-25 Total functional expensesPrograms $104,057 · Management $27,777 · Fundraising $0$131,834
Part X · Balance sheet $2,766,927 assets, 19 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $2,326,681$2,675,384
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $78,830$91,543
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
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 assets$0
X-16 Total assetsStart of year $2,405,511$2,766,927
X-18 Grants payable$7,157
X-25 Other liabilities$1,522
X-26 Total liabilitiesStart of year $42,125$8,679
X-27 Net assets without donor restrictionsStart of year $2,363,386$2,758,248
X-32 Total net assets or fund balancesStart of year $2,363,386$2,758,248
X-33 Total liabilities and net assetsStart of year $2,405,511$2,766,927
Part XI · Reconciliation of net assets $2,758,248 net assets at year end
XI-1 Total revenue$526,696
XI-2 Total expenses$131,834
XI-3 Revenue less expenses$394,862
XI-4 Net assets at start of year$2,363,386
XI-10 Net assets at end of year$2,758,248

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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