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Nonprofiteer
← METROPLEX ECONOMIC DEVELOPMENT CORP

Form 990 for tax year 2022

Filed by METROPLEX ECONOMIC DEVELOPMENT CORP.

Totals

Total revenue
$850,303
Total expenses
$1,292,644
Contributions and grants received
$534,916
Grants paid
$0
Program service revenue
$135,634
Investment income
$6,716
Other revenue
$173,037
Total assets, end of year
$2,466,015
Total liabilities, end of year
$99,919
Net assets or fund balances, end of year
$2,366,096
Program services expenses (Part IX)
$1,287,646
Management and general expenses
$4,998
Fundraising expenses
$0
Program service expenses (Part III)
$1,287,646

Program services were 99.6% 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.

  • 1e · Government grants (contributions)

    $246,667

  • 1f · All other contributions, gifts and grants

    $288,249

  • 1g · Noncash contributions included above

    $64,800

  • 2a · Program service revenue: TICKET SALES

    total $135,634 · related or exempt $135,634

  • 3 · Investment income

    total $6,716 · excluded $6,716

  • 6a · Gross rents

    real property $167,803

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $167,803

  • 6d · Net rental income or loss

    total $167,803 · related or exempt $167,803

  • 8a · Fundraising events: gross income

    $5,234

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $5,234 · excluded $5,234

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $184,939 · program services $184,939

  • 7 · Other salaries and wages

    total $353,362 · program services $353,362

  • 8 · Pension plan contributions

    total $10,588 · program services $10,588

  • 9 · Other employee benefits

    total $108,599 · program services $108,599

  • 10 · Payroll taxes

    total $43,765 · program services $43,765

  • 11c · Fees: accounting

    total $50,500 · program services $50,500

  • 11g · Fees: other

    total $274,004 · program services $269,084 · management and general $4,920

  • 12 · Advertising and promotion

    total $44,666 · program services $44,666

  • 13 · Office expenses

    total $51,901 · program services $51,901

  • 14 · Information technology

    total $7,969 · program services $7,969

  • 17 · Travel

    total $9,942 · program services $9,942

  • 22 · Depreciation, depletion and amortization

    total $29,233 · program services $29,233

  • 23 · Insurance

    total $21,774 · program services $21,774

  • 24a · Other expenses: PROPERTY TAXES

    total $45,716 · program services $45,716

  • 24b · Other expenses: GENERAL ADMINISTRATION

    total $32,000 · program services $32,000

  • 24c · Other expenses: TRAINING & EDUCATION

    total $11,782 · program services $11,782

  • 24d · Other expenses: HOSPITALITY

    total $3,946 · program services $3,946

  • 24e · All other expenses

    total $7,958 · program services $7,880 · management and general $78

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,392,808 · end of year $1,998,936

  • 4 · Accounts receivable

    beginning of year $28,915 · end of year $253,823

  • 9 · Prepaid expenses and deferred charges

    beginning of year $618 · end of year $618

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

    $451,066

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

    $238,428

  • 10c · Land, buildings and equipment, net

    beginning of year $241,871 · end of year $212,638

  • 13 · Investments: program-related

    beginning of year $252,074 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,101 · end of year $92,822

  • 19 · Deferred revenue

    beginning of year $6,106 · end of year $6,106

  • 25 · Other liabilities

    beginning of year $2,642 · end of year $991

  • 27 · Net assets without donor restrictions

    beginning of year $2,808,437 · end of year $2,366,096

Mission and programs · 2022

Mission

TO ALLEVIATE POVERTY AND ITS EFFECTS ON THE LOCAL COMMUNITY AND TO PROVIDE EDUCATION. THE ORGANIZATION OPERATES AS A LOCAL ECONOMIC DEVELOPMENT CORPORATION, PROVIDING FUNDING TO LOCAL BUSINESSES, JOB TRAINING & EDUCATION, BUSINESS COUNSELING, COMMUNITY SERVICES, AND SIMILAR ACTIVITIES TO RELIEVE POVERTY IN ECONOMICALLY DEPRESSED AREAS.

  • TEXAS OFFENDERS RE-ENTRY INITIATIVE (TORI): TO AIDE AND ASSIST EX-OFFENDERS IN TRANSITIONING BACK INTO SOCIETY BY PROVIDING EMPLOYMENT TRAINING, COUNSELING AND PLACEMENT SERVICES AS WELL AS TRANSITIONAL HOUSING.

    Expenses $1,122,069

  • ECONOMIC DEVELOPMENT: BUSINESS NETWORK, CONFERENCES, AND PROJECTS THAT FACILITATE BUSINESS AND ECONOMIC GROWTH, JOB TRAINING AND EDUCATION, AND COMBAT COMMUNITY DETERIORATION.

    Expenses $165,577 · Revenue $167,843

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Darwin Bruce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frank Dyer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mark Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tina Naidoo

    EXECUTIVE DIRECTOR TORI

    Total calculated
    $184,939
    From this org
    $141,859
    From related orgs
    $0
    Other
    $43,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,859
    Bonus
    $0
    Other
    $0
    Deferred
    $8,505
    Nontaxable benefits
    $34,575
    Filer's total
    $184,939

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CAPELLA PARK REALTY CO

    C · REAL ESTATE · TX · 100% owned

    Directly controlled by METROPLEX ECONOMIC DEVELOPMENT CORP

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313199349309061

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