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Nonprofiteer
← METROPLEX ECONOMIC DEVELOPMENT CORP

Form 990 for tax year 2024

Filed by METROPLEX ECONOMIC DEVELOPMENT CORP.

Totals

Total revenue
$4,784,748
Total expenses
$5,418,872
Contributions and grants received
$4,494,984
Grants paid
$822,752
Program service revenue
$55,255
Investment income
$54,974
Other revenue
$179,535
Total assets, end of year
$1,743,832
Total liabilities, end of year
$131,311
Net assets or fund balances, end of year
$1,612,521
Program services expenses (Part IX)
$5,229,140
Management and general expenses
$159,732
Fundraising expenses
$30,000
Program service expenses (Part III)
$5,229,140

Program services were 96.5% 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.

  • 1f · All other contributions, gifts and grants

    $4,494,984

  • 1g · Noncash contributions included above

    $10,800

  • 2a · Program service revenue: CONFERENCE REGISTRATIO

    total $55,255 · related or exempt $55,255

  • 3 · Investment income

    total $54,974 · excluded $54,974

  • 6a · Gross rents

    real property $179,535

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $179,535

  • 6d · Net rental income or loss

    total $179,535 · related or exempt $179,535

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $822,752 · program services $822,752

  • 7 · Other salaries and wages

    total $148,042 · program services $148,042

  • 8 · Pension plan contributions

    total $5,393 · program services $5,393

  • 9 · Other employee benefits

    total $15,790 · program services $15,790

  • 10 · Payroll taxes

    total $11,337 · program services $11,337

  • 11b · Fees: legal

    total $6,158 · program services $6,158

  • 11c · Fees: accounting

    total $155,990 · program services $155,990

  • 11g · Fees: other

    total $1,706,586 · program services $1,698,692 · management and general $7,894

  • 12 · Advertising and promotion

    total $1,384,074 · program services $1,384,074

  • 13 · Office expenses

    total $4,252 · program services $4,252

  • 14 · Information technology

    total $245,725 · program services $245,725

  • 16 · Occupancy

    total $251,166 · program services $221,096 · management and general $70 · fundraising $30,000

  • 17 · Travel

    total $218,698 · program services $218,698

  • 19 · Conferences, conventions and meetings

    total $5,535 · program services $5,535

  • 22 · Depreciation, depletion and amortization

    total $29,016 · program services $29,016

  • 23 · Insurance

    total $19,654 · program services $19,654

  • 24a · Other expenses: INTER-COMPANY TRANSFERS

    total $176,820 · program services $25,052 · management and general $151,768

  • 24b · Other expenses: HOSPITALITY

    total $166,619 · program services $166,619

  • 24c · Other expenses: PROPERTY TAXES

    total $45,255 · program services $45,255

  • 24d · Other expenses: MISCELLANEOUS

    total $10 · program services $10

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $946,140 · end of year $322,378

  • 2 · Savings and temporary cash investments

    beginning of year $2,505,850 · end of year $1,010,813

  • 4 · Accounts receivable

    beginning of year $812,867 · end of year $255,633

  • 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

    $296,676

  • 10c · Land, buildings and equipment, net

    beginning of year $183,406 · end of year $154,390

  • 15 · Other assets

    beginning of year $161,138 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $156,548 · end of year $118,523

  • 19 · Deferred revenue

    beginning of year $2,205,726 · end of year $11,687

  • 25 · Other liabilities

    beginning of year $1,101 · end of year $1,101

  • 27 · Net assets without donor restrictions

    beginning of year $2,246,644 · end of year $1,612,521

Mission and programs · 2024

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 $276,494 · Grants $44,000

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

    Expenses $186,325 · Grants $138,600 · Revenue $234,790

  • GOOD SOIL: PROJECT MISSION IS TO INCREASE GENERATIONAL WEALTH AND EMPLOYMENT BY SUPPORTING AND NURTURING UNDER-RESOURCED ENTREPRENEURS.

    Expenses $4,766,321 · Grants $640,152

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Darwin Bruce

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Frank Dyer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mark Jones

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE POTTER'S HOUSE OF DALLAS

    501(C)(3) · TX

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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349319465

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