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Nonprofiteer
← DALLAS MOMENTUM INC

Form 990 for tax year 2022

Filed by DALLAS MOMENTUM INC.

Totals

Total revenue
$3,224,672
Total expenses
$3,684,072
Contributions and grants received
$3,224,672
Grants paid
$3,326,565
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$334,090
Total liabilities, end of year
$284,802
Net assets or fund balances, end of year
$49,288
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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

    $3,224,672

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,326,565

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $24,207

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Administrative Support

    total $333,300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $990,867 · end of year $334,090

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $502,179 · end of year $284,802

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $488,688 · end of year $49,288

Mission and programs · 2022

Mission

THE EXCLUSIVE PURPOSE OF THE CORPORATION IS TO PROMOTE THE ECONOMIC AND CIVIC PROSPERITY OF THE GREATER DALLAS, TEXAS COMMUNITY IN CONJUNCTION WITH AND IN SUPPORT OF THE CHARITABLE ACTIVITIES OF THE DALLAS REGIONAL CHAMBER, A TEXAS NONPROFIT CORPORATION, PARTICULARLY TO: 1. DEVELOP BUSINESS IN THE GREATER METROPOLITAN AREA OF DALLAS, TEXAS; AND 2. PROMOTE DOMESTIC AND GLOBAL MARKETING OF THE GREATER METROPOLITAN AREA OF DALLAS, TEXAS, AS A BUSINESS DESTINATION, ALL AS DETERMINED BY THE BOARD OF DIRECTORS OF THE CORPORATION (THE BOARD) AND WHICH PURPOSE SHALL IN ALL EVENTS BE CONSTRUED EXCLUSIVELY FOR CHARITABLE PURPOSE WITHIN THE MEANING OF SECTION 501(C)(6) OF THE IRC AND UNDER THE LAWS OF THE STATE OF TEXAS.

Activities or mission (Part I)

EXPAND THE ECONOMIC PROSPERITY OF THE GREATER DALLAS, TEXAS AREA.

  • DALLAS MOMENTUM, INC. PROVIDED GRANTS FOR NUMEROUS PROGRAMS IN THE AREAS OF ECONOMIC DEVELOPMENT, TALENT ATTRACTION, EDUCATION & WORKFORCE, PUBLIC POLICY, INNOVATION & RESEARCH, LEADERSHIP, DIVERSITY EQUITY & INCLUSION AND COMMUNITY ENGAGEMENT, WHICH BENEFITTED THE REGION. THESE PROGRAMS ARE DEVELOPED AND IMPLEMENTED BY SPECIFIC DEPARTMENT TEAMS WITHIN THE DALLAS REGIONAL CHAMBER, A RELATED ORGANIZATION, TO SUPPORT THE ECONOMIC DEVELOPMENT, CIVIL PROSPERITY AND OTHER COMMUNITY ACTIVITIES AND NEEDS IN THE REGION.

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

Listed in Part VII

  • Dale Petroskey

    PRESIDENT

    Total calculated
    $997,238
    From this org
    $0
    From related orgs
    $639,421
    Other
    $357,817
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $401,211 related
    Bonus
    not reported + $236,000 related
    Other
    not reported + $2,210 related
    Deferred
    not reported + $323,015 related
    Nontaxable benefits
    not reported + $34,802 related
    Filer's total
    not reported + $997,238 related

  • Angela Farley

    TREASURER

    Total calculated
    $535,860
    From this org
    $0
    From related orgs
    $402,024
    Other
    $133,836
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $273,034 related
    Bonus
    not reported + $127,700 related
    Other
    not reported + $1,290 related
    Deferred
    not reported + $113,880 related
    Nontaxable benefits
    not reported + $19,956 related
    Filer's total
    not reported + $535,860 related

  • Mike Rosa

    VICE-PRESIDENT

    Total calculated
    $345,263
    From this org
    $0
    From related orgs
    $270,813
    Other
    $74,450
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $210,033 related
    Bonus
    not reported + $58,800 related
    Other
    not reported + $1,980 related
    Deferred
    not reported + $54,049 related
    Nontaxable benefits
    not reported + $20,401 related
    Filer's total
    not reported + $345,263 related

  • Latosha Herron Bruff

    BOARD SECRETARY

    Total calculated
    $268,062
    From this org
    $0
    From related orgs
    $201,520
    Other
    $66,542
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $156,419 related
    Bonus
    not reported + $44,700 related
    Other
    not reported + $401 related
    Deferred
    not reported + $41,279 related
    Nontaxable benefits
    not reported + $25,263 related
    Filer's total
    not reported + $268,062 related

  • Bob Pragada

    CHAIRPERSON OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Rafael Lizardi

    Chair Elect 2023

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Michelle Vopni

    Immediate Past Chair

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Ray Sedey

    DRC BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
EXECUTIVE COMPENSATION REVIEW: DALLAS MOMENTUM, INC. HAS NO EMPLOYEES. The officers and key employees listed are employees of the Dallas Regional Chamber, a related organization. The Dallas Regional Chamber maintains a policy requiring annual reviews of key executive's compensation by the Dallas Regional Chamber's executive Committee. Compensation decisions for these individuals are assisted by: - Independent compensation consultant - Other Organization's market data from Form 990s - Compensation surveys or Studies - Review and approval by the Dallas Regional Chamber's Compensation and Executive Committees
SCHEDULE J, PART II, COLUMN (C)
RETIREMENT AND OTHER DEFERRED COMPENSATION: SOME AMOUNTS IN THIS COLUMN ARE DUE TO BONUSES THAT WERE DEFERRED IN TAX YEAR 2022. THE DEFERRED BONUSES WILL BE REPORTED IN COLUMN B(II) AND COLUMN F WHEN THEY ARE PAID IN TAX YEAR 2023. THE DEFERRED BONUSES FROM TAX YEAR 2021 ARE CURRENTLY BEING REPORTED IN COLUMN B(II) AND COLUMN F.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343059349303109

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