Hamlin Municipal Development FY2020 filing

Hamlin, TXUnknown exempt organizationSince 2017EIN 82-2599633

Chapter 377 of the Texas Local Government Code authorizes cities to hold an election in all or part of a city, including its extra territorial jurisdiction, to create a municipal development district and to adopt a sales tax to fund it. A Municipal Development District is a special purpose district created for the purpose of generating economic development and growth opportunities within the boundaries of the district. State law authorizes expenditure of MDD. funds for a variety of economic development activities including certain infrastructure improvement projects, certain recreational or community facilities, projects related to business enterprises that create or retain primary jobs, projects that promote new or expanded business development, or convention center facilities and related improvements. In addition, proceeds may also be used to hire necessary staff.

74¢ of each $1 spent went to programs.
$29K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
3 of 5
years in the black
Pt I · Ln 19 · 5 filings
How much reaches the programs?
74%
of spending
Pt IX · Ln 25 · col B
What are leaders paid?
$29K
to officers and key staff · 21% of spending
Pt VII · Sec A
Do they have reserves?
27 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$0
liabilities
Pt X · Ln 26
Who oversees it?
0
independent of 5 voting board members
Pt VI · Ln 1a–1b
Revenue
$121K
Spent
$135K
To programs
74%
Net assets
$1.7M
By yearFY2020–FY2024
Revenue
$121K
FY2020
Revenue by fiscal year
FY2020$121K
FY2021$124K
FY2022$141K
FY2023$144K
FY2024$160K
FY2024$581K
Expenses
$135K
FY2020
Expenses by fiscal year
FY2020$135K
FY2021$128K
FY2022$138K
FY2023$142K
FY2024$134K
FY2024$185K
Net assets
$1.7M
FY2020
Net assets by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$1.7M
FY2023$1.9M
FY2024$1.9M
FY2024$2.3M

From the FY2020 Form 990 (year ending September 2020) · see the original

You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CHamlin Municipal Development
EINHdr · item D82-2599633
Exempt statusHdr · item I501(c)(3) · active
Year of formationHdr · item L2017
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CHamlin, TX
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.05
Program services74%$99K
Management & general5%$7K
Total functional expensesLn 25$135K

Financial health

Is it on solid ground?

Surplus margin
-11%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$1.7M
FY2020
Total assets by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$1.7M
FY2023$1.9M
FY2024$1.9M
FY2024$2.3M
Total liabilities
$0
FY2020
Total liabilities by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2024$0
Revenue less expensesPt I · Ln 19−$13K
Total assetsPt X · Ln 16$1.7M
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$304K
Total assetsLn 16$1.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.7M
Months of cash on handcomputed27.1

Statement of Revenue

Part VIII
Program service revenue$79K · 65%
Other revenue$42K · 34%
Investment income$912 · 1%
Program service revenue65%$79K
Other revenue34%$42K
Investment income1%$912
Total revenueLn 12$121K

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $304K · Operating expenses/yr $135K
27.1 months
Where the money goes
Program services
Program services $99K · Total expenses $135K
not reported
Management & General
Management & general $7K · Total expenses $135K
not reported
Fundraising
Fundraising $0 · Total expenses $135K
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $121K
0%
Government reliance
Government grants — · Total revenue $121K
—
Earned-income share
Program service revenue $79K · Total revenue $121K
65%
Investment reliance
Investment income $912 · Total revenue $121K
+0.8%
Program self-sufficiency
Program service revenue $79K · Total expenses $135K
59%
Growth & trend
Revenue growth (YoY)
This year $121K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $121K · Expenses $135K
-11%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
—
Net-asset ratio
Net assets $1.7M · Total assets $1.7M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.7M
0%
People & payroll
Highest Reported Total Compensation
Individual Mickie Diersing · Reported title Executive Dir. · Highest reported compensation $29K · Total expenses $135K
21%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $31K · Total expenses $135K
23%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 74%——
Overhead ratio 5%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 6%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Dir.
$28,800Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Randy Burks$43,834$6,647————
Mickie Diersing——$28,800$28,800$28,800$28,800
Mickie Diersing—$21,600————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 5Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Improves the community for living, working, and doing business.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2019.
01

Assist with development and financing of permissible projects as defined in chapter 377 of the texas local government code.

Pt IX · col B

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $160K$134K+11% 990 PDF
FY2023 $144K$142K+2% 990 PDF
FY2022 $141K$138K+14% 990 PDF
FY2021 $124K$128K+2% 990 PDF
FY2020 Viewing $121K$135K 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

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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