Hamlin Municipal Development FY2024 filing

Hamlin, TXUnknown exempt organizationSince 2017EIN 82-2599633Revenue $160K in FY2024

On file with the IRS634 Nw 2nd Street · Hamlin, TX

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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.

69¢ of each $1 spent went to programs.
$28K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 5
filings with a surplus
Average surplus $3K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$28K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
61 mo
of spending, in cash
Looks good: 61.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
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 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$160K
+11% vs prior year
Spent
$134K
To programs
69%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$160K
FY2024▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$121K
FY2021$124K
FY2022$141K
FY2023$144K
FY2024$160K
FY2024$581K
Expenses
$134K
FY2024▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$135K
FY2021$128K
FY2022$138K
FY2023$142K
FY2024$134K
FY2024$185K
Net assets
$1.9M
FY2024▲ +1%
Tap a bar for its year
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 FY2024 Form 990 (year ending September 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $93K Management & general 15% · $19K

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; $28K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Previous Ex Dir
$21,600Pt VII · Sec A
Executive Dir.
$6,647Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

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

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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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 the community for living, working, and doing business.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

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

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$160K
Ln 12
Fees for servicesLn 2g$112K
Other incomeLn 4–11$37K
Investment incomeLn 3$11K
Money outPt IX
$134K
Ln 25
Programscol B$93K
Managementcol C$19K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$682K
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$112K
Investment incomeLn 3$11K
Other incomeLn 4–11$37K
Gains on assetsLn 7$0
Total revenueLn 12$160K
Assets in detailPt X, end of year
CashLn 1$526K
SavingsLn 2$156K
Cash and savings togetherLn 1–2$682K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$878K
Other assetsLn 15$0
Total assetsLn 16$1.9M
LiabilitiesLn 26$0
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderSeptember
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 FY24End FY24
Cash and savingsLn 1–2$602K$682K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$922K$878K
Total assetsLn 16$1.9M$1.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.9M$1.9M
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$28K$3K$3K
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$3K$1K$1K
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$13K$13K
Advertising and promotionLn 12$0
Office expensesLn 13$1K$1K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$312$312
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$44K$44K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$34K$34K$51
All other expensesLn 24e$0
Total functional expensesLn 25$134K$93K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $160K$134K$26K$1.9M 990 PDF
FY2023 $144K$142K$2K$1.9M 990 PDF
FY2022 $141K$138K$3K$1.7M 990 PDF
FY2021 $124K$128K−$5K$1.7M 990 PDF
FY2020 $121K$135K−$13K$1.7M 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 FY2024 990 (6 parts)
Part I · Summary $159,549 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $109,508$111,757
I-10 Investment incomePrior year −$43,832$11,140
I-11 Other revenuePrior year $78,110$36,652
I-12 Total revenuePrior year $143,786$159,549
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $31,003$30,937
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $110,513$102,627
I-18 Total expensesPrior year $141,516$133,564
I-19 Revenue less expensesPrior year $2,270$25,985
Part VI · Governance 0 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
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 $159,549 across 9 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 $111,757$111,757
VIII-3 Investment incomeRelated to mission $11,140$11,140
VIII-5 Royalties$0
VIII-6 Net rental income or lossRelated to mission $33,260$33,260
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,392$3,392
VIII-12 Total revenueRelated to mission $159,549$159,549
Part IX · Statement of functional expenses $133,564 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 staffPrograms $3,324 · Management $3,323$28,247
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 taxesPrograms $1,345 · Management $1,345$2,690
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 servicesManagement $13,079$13,079
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $1,332$1,332
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelManagement $312$312
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 amortizationPrograms $44,270$44,270
IX-23 InsurancePrograms $9,373$9,373
IX-24 Other expenses (24a–d)Programs $34,210 · Management $51$34,261
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $92,522 · Management $19,442 · Fundraising $0$133,564
Part X · Balance sheet $1,876,200 assets, 17 lines filed
Asset lines not itemized here account for $316,746; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $452,092$525,948
X-2 Savings and temporary cash investmentsStart of year $149,579$155,671
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $922,105$877,835
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 $1,850,215$1,876,200
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,850,215$1,876,200
X-32 Total net assets or fund balancesStart of year $1,850,215$1,876,200
X-33 Total liabilities and net assetsStart of year $1,850,215$1,876,200
Part XI · Reconciliation of net assets $1,876,200 net assets at year end
XI-1 Total revenue$159,549
XI-2 Total expenses$133,564
XI-3 Revenue less expenses$25,985
XI-4 Net assets at start of year$1,850,215
XI-10 Net assets at end of year$1,876,200

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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