Form 990 for tax year 2022
Filed by ABILENE INDUSTRIAL FOUNDATION INC.
Totals
- Total revenue
- $758,855
- Total expenses
- $663,432
- Contributions and grants received
- $402,116
- Grants paid
- $108,000
- Program service revenue
- $350,000
- Investment income
- $6,739
- Other revenue
- $0
- Total assets, end of year
- $2,097,585
- Total liabilities, end of year
- $83,734
- Net assets or fund balances, end of year
- $2,013,851
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $603,609
Program services were 0.0% 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
$402,116
-
2a · Program service revenue: Government Contracts
total $350,000 · related or exempt $350,000
-
3 · Investment income
total $6,739 · excluded $6,739
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $108,000
-
5 · Compensation of officers, directors and key employees
total $73,946
-
7 · Other salaries and wages
total $99,946
-
8 · Pension plan contributions
total $9,103
-
9 · Other employee benefits
total $12,611
-
10 · Payroll taxes
total $11,957
-
11b · Fees: legal
total $2,500
-
11c · Fees: accounting
total $13,150
-
11g · Fees: other
total $215,410
-
12 · Advertising and promotion
total $2,725
-
13 · Office expenses
total $1,132
-
14 · Information technology
total $7,262
-
16 · Occupancy
total $19,563
-
17 · Travel
total $12,596
-
20 · Interest
total $61
-
22 · Depreciation, depletion and amortization
total $5,051
-
24a · Other expenses: Telephone
total $4,373 · program services $4,373
-
24b · Other expenses: Dues and subscriptions
total $1,219 · program services $1,219
-
24c · Other expenses: Sponsorships
total $33,417 · program services $33,417
-
24d · Other expenses: Promotional ItemsSupplies
total $23,017 · program services $23,017
-
24e · All other expenses
total $6,393
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $226,747 · end of year $548,755
-
2 · Savings and temporary cash investments
beginning of year $128,554 · end of year $129,809
-
3 · Pledges and grants receivable
beginning of year $625,669 · end of year $481,934
-
4 · Accounts receivable
beginning of year $150,380 · end of year $87,636
-
9 · Prepaid expenses and deferred charges
beginning of year $3,748 · end of year $12,556
-
10a · Land, buildings and equipment: cost or other basis
$38,279
-
10b · Land, buildings and equipment: accumulated depreciation
$28,756
-
10c · Land, buildings and equipment, net
beginning of year $10,735 · end of year $9,523
-
15 · Other assets
beginning of year $954,970 · end of year $827,372
-
17 · Accounts payable and accrued expenses
beginning of year $182,310 · end of year $81,941
-
25 · Other liabilities
end of year $1,793
-
27 · Net assets without donor restrictions
beginning of year $337,854 · end of year $704,545
-
28 · Net assets with donor restrictions
beginning of year $1,580,639 · end of year $1,309,306
Mission and programs · 2022
Mission
The mission of the Abilene Industrial Foundation is to promote the growth, development, and diversity of the economy in and around Abilene, Texas.
-
Economic development - Programs designed to promote Abilene through business retention and expansion, and entrepreneurial, workforce and talent development programs
Expenses $516,709 · Revenue $350,000
-
Governmental Affairs - A program to increase the visibility of Abilene in the state legislature and provide timely information about laws or regulations affecting state agencies with locations in Abilene that might impact the local economy
Expenses $86,900
As filed on the 2022 return.
Listed in Part VII
-
Doug Peters
President
- Total calculated
- $322,270
- From this org
- $0
- From related orgs
- $276,813
- Other
- $45,457
- Hours/week
- 13 + 27 related
Schedule J breakdown matched by us
- Base
- not reported + $236,813 related
- Bonus
- not reported + $40,000 related
- Other
- not reported
- Deferred
- not reported + $17,529 related
- Nontaxable benefits
- not reported + $27,928 related
- Filer's total
- not reported + $322,270 related
-
Joseph E Canon
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brian Carr
Director
- Total calculated
- $0
- Hours/week
- 1
-
Scott Senter
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike Fernandez
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dani Ramsay
Director
- Total calculated
- $0
- Hours/week
- 1
-
Norm Archibald
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mary Ross
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ben Russell
Director
- Total calculated
- $0
- Hours/week
- 1
-
DonMark Nickson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Bill Senter
Director
- Total calculated
- $0
- Hours/week
- 1
-
Paul Cannon
Director
- Total calculated
- $0
- Hours/week
- 1
-
HC C Zachry
Director
- Total calculated
- $0
- Hours/week
- 1
-
Keith White
Director
- Total calculated
- $0
- Hours/week
- 1
-
Phillip Poarch
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael B Starr
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael D Murphy
Director
- Total calculated
- $0
- Hours/week
- 1
-
Katie Alford
Director
- Total calculated
- $0
- Hours/week
- 1
-
Collin Zalesak
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike Perez
Director
- Total calculated
- $0
- Hours/week
- 1
-
Heather Guest
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jack Rentz
Director
- Total calculated
- $0
- Hours/week
- 1
-
Natalie Moore
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brad Holland
Director
- Total calculated
- $0
- Hours/week
- 1
-
Darrin Black
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kelly Cheek
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jacob Bunton
Director
- Total calculated
- $0
- Hours/week
- 1
-
Paul Beale
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jimmy Tittle
Director
- Total calculated
- $0
- Hours/week
- 1
-
Daniel Gutierrez
Director
- Total calculated
- $0
- Hours/week
- 1
-
Scott Hibbs
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jim Barr
Director
- Total calculated
- $0
- Hours/week
- 1
-
Joe Crawford
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tucker Bridwell
Director
- Total calculated
- $0
- Hours/week
- 1
-
Charlie Black
Director
- Total calculated
- $0
- Hours/week
- 1
-
Albert Guiterrez
Director
- Total calculated
- $0
- Hours/week
- 1
-
Greg Blair
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brian Bessent
Director
- Total calculated
- $0
- Hours/week
- 1
-
Yvonne Batts
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ron Butler
Director
- Total calculated
- $0
- Hours/week
- 1
-
Russell Guthrie
Director
- Total calculated
- $0
- Hours/week
- 2
-
Larry Gill
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ray Ferguson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Casey Curnutt
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tracy Howle
Director
- Total calculated
- $0
- Hours/week
- 1
-
Marelyn Shedd
Director
- Total calculated
- $0
- Hours/week
- 1
-
Gary Galbraith
Director
- Total calculated
- $0
- Hours/week
- 1
-
Erik Johnson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dee Moore
Director
- Total calculated
- $0
- Hours/week
- 1
-
James McNeer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Peter Lauve
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jason Darby
Director
- Total calculated
- $0
- Hours/week
- 1
-
Scott Dueser
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike Dunnahoo
Director
- Total calculated
- $0
- Hours/week
- 1
-
David Eldridge
Director
- Total calculated
- $0
- Hours/week
- 1
-
Seaton Higginbotham
Director
- Total calculated
- $0
- Hours/week
- 1
-
Ted Evans
Secretary-Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Will Dugger
Chair Elect
- Total calculated
- $0
- Hours/week
- 2
-
Shaun Martin
Chair
- Total calculated
- $0
- Hours/week
- 2
-
Gary Grubbs
Past Chair
- Total calculated
- $0
- Hours/week
- 5
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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Related organization compensation method (Part I, line 3)
- Compensation committeeWritten employment contract
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
-
$108,000
Program Support
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.
-
501c6 · Chamber of Commerce · TX
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202432269349302208
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