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Bowie Industrial Development Foundation FY2023 filing

Not tax-deductible

Bowie, TX501(c)(4)Community DevelopmentEIN 75-2855989Revenue $87K in FY2023

On file with the IRS1602 Jefferson St, 76230-2630 · Bowie, TXTax-exempt since Jul 2008

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To attract new businesses and industries to Bowie, TX., done partly by constructing and maintaining a building to attract businesses.

97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $40K a year · 51% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$193K
19% of total assets
Looks good: liabilities are 19% 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
$87K
+0.3% vs prior year
Spent
$45K
To programs
97%
Net assets
$825K
By yearFY2020–FY2024
Revenue
$87K
FY2023+0.3%
Tap a bar for its year
Revenue by fiscal year
FY2020$52K
FY2021$79K
FY2022$86K
FY2023$87K
FY2024$86K
Expenses
$45K
FY2023▲ +54%
Tap a bar for its year
Expenses by fiscal year
FY2020$16K
FY2021$35K
FY2022$29K
FY2023$45K
FY2024$67K
Net assets
$825K
FY2023▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$682K
FY2021$726K
FY2022$783K
FY2023$825K
FY2024$844K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2008.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $44K Management & general 3% · $1K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Winters
Director
$0Pt VII · Sec A
Jk Brite
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Randy West
Sec/Treas
$0Pt VII · Sec A
See Bowie Industrial Development Foundation 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

Attracts new businesses to Bowie, TX by building and maintaining facilities.

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Provided by the organization

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1 program · $37K · in their own filed words · FY2023
01

Management of building to attract new business to bowie, TX

$37Kprogram expense

By the numbers

The FY2023 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$87K
Ln 12
Fees for servicesLn 2g$86K
Investment incomeLn 3$412
Money outPt IX
$45K
Ln 25
Programscol B$44K
Managementcol C$1K
Owns and owesPt X
$825K
net assets · Ln 32
Cash and savingsLn 1–2$19K
Total assetsLn 16$1.0M
LiabilitiesLn 26$193K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$86K
Investment incomeLn 3$412
Total revenueLn 12$87K
Assets in detailPt X, end of year
SavingsLn 2$19K
Cash and savings togetherLn 1–2$19K
Land, buildings, equipmentLn 10c$999K
Total assetsLn 16$1.0M
LiabilitiesLn 26$193K
Net assetsLn 32$825K
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 FY23End FY23
Cash and savingsLn 1–2$78K$19K
Land, buildings, equipmentLn 10c$705K$999K
Total assetsLn 16$783K$1.0M
LiabilitiesLn 26$0$193K
Net assetsLn 32$783K$825K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$600$600
Other fees for servicesLn 11g$644$60$584
OccupancyLn 16$449$449
InterestLn 20$5K$5K
Depreciation, depletion and amortizationLn 22$38K$38K
Other expenses (24a–d)Ln 24$25$25
Total functional expensesLn 25$45K$44K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $86K$67K$19K$844K 990 PDF
FY2023 Viewing $87K$45K$42K$825K 990 PDF
FY2022 $86K$29K$57K$783K 990 PDF
FY2021 $79K$35K$44K$726K 990 PDF
FY2020 $52K$16K$37K$682K 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 FY2023 990 (6 parts)
Part I · Summary $86,692 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $86,429$86,280
I-10 Investment income$412
I-11 Other revenue$0
I-12 Total revenuePrior year $86,429$86,692
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $29,342$45,148
I-18 Total expensesPrior year $29,342$45,148
I-19 Revenue less expensesPrior year $57,087$41,544
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $86,692 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $86,280$86,280
VIII-3 Investment incomeRelated to mission $412$412
VIII-12 Total revenueRelated to mission $86,692$86,692
Part IX · Statement of functional expenses $45,148 across 6 lines filed
IX-11c Accounting feesManagement $600$600
IX-11g Other fees for servicesPrograms $60 · Management $584$644
IX-16 OccupancyPrograms $449$449
IX-20 InterestPrograms $5,080$5,080
IX-22 Depreciation, depletion and amortizationPrograms $38,350$38,350
IX-24 Other expenses (24a–d)Management $25$25
IX-25 Total functional expensesPrograms $43,939 · Management $1,209 · Fundraising $0$45,148
Part X · Balance sheet $1,017,814 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $78,060$18,590
X-10c Land, buildings and equipment, netStart of year $705,410$999,224
X-16 Total assetsStart of year $783,470$1,017,814
X-25 Other liabilities$192,800
X-26 Total liabilitiesStart of year $0$192,800
X-27 Net assets without donor restrictionsStart of year $783,470$825,014
X-32 Total net assets or fund balancesStart of year $783,470$825,014
X-33 Total liabilities and net assetsStart of year $783,470$1,017,814
Part XI · Reconciliation of net assets $825,014 net assets at year end
XI-1 Total revenue$86,692
XI-2 Total expenses$45,148
XI-3 Revenue less expenses$41,544
XI-4 Net assets at start of year$783,470
XI-10 Net assets at end of year$825,014

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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