Skip to content
Nonprofiteer
← ODESSA INDUSTRIAL DEVELOPMENT FOUNDATION

Form 990 for tax year 2025

Filed by ODESSA INDUSTRIAL DEVELOPMENT FOUNDATION.

Totals

Total revenue
$11,722,234
Total expenses
$418,758
Contributions and grants received
$1,000
Grants paid
$106,203
Program service revenue
$0
Investment income
$960,075
Other revenue
$10,761,159
Total assets, end of year
$32,321,051
Total liabilities, end of year
$31,216
Net assets or fund balances, end of year
$32,289,835
Program services expenses (Part IX)
$134,493
Management and general expenses
$284,265
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 32.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $1,000

  • 1f · All other contributions, gifts and grants

    $0

  • 3 · Investment income

    total $595,348 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $1,945 · related or exempt $1,945 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $6,367

  • 6c · Rental income or loss

    real property $6,367

  • 6d · Net rental income or loss

    total $6,367 · related or exempt $6,367

  • 7a · Gross sales of assets other than inventory

    securities $364,727

  • 7c · Gain or loss

    securities $364,727

  • 7d · Net gain or loss

    total $364,727 · related or exempt $364,727 · unrelated business $0 · excluded $0

  • 11a · Other revenue: OTHER INCOME

    total $925 · related or exempt $925 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $10,751,922 · related or exempt $10,751,922 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $10,752,847

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $106,203 · program services $106,203

  • 11a · Fees: management

    total $39,356 · program services $0 · management and general $39,356 · fundraising $0

  • 11b · Fees: legal

    total $1,500 · program services $0 · management and general $1,500 · fundraising $0

  • 11c · Fees: accounting

    total $7,375 · program services $0 · management and general $7,375 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $13,326 · program services $0 · management and general $13,326 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $164,720 · program services $0 · management and general $164,720 · fundraising $0

  • 23 · Insurance

    total $9,871 · program services $0 · management and general $9,871 · fundraising $0

  • 24a · Other expenses: TAXES - ADVALOREM

    total $44,248 · program services $0 · management and general $44,248 · fundraising $0

  • 24b · Other expenses: ADMINISTRATIVE EXPENSE

    total $32,159 · program services $28,290 · management and general $3,869 · fundraising $0

  • 24c · Other expenses: LAND DONATION

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $121,270 · end of year $151,098

  • 2 · Savings and temporary cash investments

    beginning of year $9,448,220 · end of year $10,855,474

  • 4 · Accounts receivable

    beginning of year $898 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $2,657,274

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,469,841

  • 10c · Land, buildings and equipment, net

    beginning of year $1,352,154 · end of year $1,187,433

  • 11 · Investments: publicly traded securities

    beginning of year $7,097,625 · end of year $11,873,533

  • 15 · Other assets

    beginning of year $1,419,334 · end of year $8,253,513

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,338 · end of year $31,216

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $19,415,163 · end of year $32,289,835

Mission and programs · 2025

Mission

THE ACTIVITIES OF THE ORGANIZATION ARE THE DEVELOPMENT AND SALE OF REAL ESTATE ALONG WITH PROMOTING AND ENCOURAGING THE DEVELOPMENT OF INDUSTRY WITHIN THE PERMIAN BASIN.

  • SELL LAND AND EASEMENTS TO BUSINESSES DEVELOPING PROPERTIES IN ODESSA INDUSTRIAL AREA

As filed on the 2025 return.

Listed in Part VII

  • Jimmy Cox

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Ed Mendez

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Tom Manskey

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Matt Wood

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mike Withrow

    LAND USE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Shem Culpepper

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kathi Vaughn

    ECONOMIC DEVELOPMENT SPECIALIST

    Total calculated
    $0
    Hours/week
    2

  • Russell Tippin

    PAST PRESIDENT

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • TEXAS TECH FOUNDATION

    $50,000

    FURTHER ACADEMIC PURPOSES

  • ODESSA COLLEGE

    $26,500

    FURTHER ACADEMIC PURPOSES

Provenance

Return type
form_990
Tax year
2025
Filed
5 August 2026
IRS schema version
2025v4.1
Source object
202622229349301227

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.