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Nonprofiteer
← FORT WORTH LOCAL DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by FORT WORTH LOCAL DEVELOPMENT CORPORATION.

Totals

Total revenue
$482,939
Total expenses
$2,787,955
Contributions and grants received
$0
Grants paid
$1,827,205
Program service revenue
$4,000
Investment income
$338,269
Other revenue
$140,670
Total assets, end of year
$7,745,642
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$7,745,642
Program services expenses (Part IX)
$2,290,820
Management and general expenses
$497,135
Fundraising expenses
$0
Program service expenses (Part III)
$2,290,820

Program services were 82.2% 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.

  • 2a · Program service revenue: MAIN STREET PROGRAM

    total $4,000 · related or exempt $4,000

  • 3 · Investment income

    total $338,269 · excluded $338,269

  • 5 · Royalties

    total $25,016 · excluded $25,016

  • 11a · Other revenue: RECOVERY FROM PRIOR EX

    total $115,654 · excluded $115,654

  • 11e · Other revenue, total

    $115,654

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,827,205 · program services $1,827,205

  • 11a · Fees: management

    total $222,285 · management and general $222,285

  • 11c · Fees: accounting

    total $3,400 · management and general $3,400

  • 11g · Fees: other

    total $271,450 · management and general $271,450

  • 12 · Advertising and promotion

    total $409,513 · program services $409,513

  • 14 · Information technology

    total $38,000 · program services $38,000

  • 23 · Insurance

    total $1,046 · program services $1,046

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $14,939 · program services $14,939

  • 24b · Other expenses: BANK CHARGES

    total $117 · program services $117

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,296,608 · end of year $250,395

  • 2 · Savings and temporary cash investments

    beginning of year $7,767,370 · end of year $6,505,417

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

    $144,655

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $144,655

  • 13 · Investments: program-related

    end of year $845,175

  • 15 · Other assets

    beginning of year $144,655 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,150 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $9,205,483 · end of year $7,745,642

Mission and programs · 2023

Mission

THE ORGANIZATION IS A NON-PROFIT INCORPORATED TO PROMOTE, SPONSOR, AND COORDINATE A WIDE RANGE OF ACTIVITIES CENTERED AROUND JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN THE CITY OF FORT WORTH. UNDER THE TEXAS DEVELOPMENT CORPORATION ACT BY THE AUTHORITY OF THE FORT WORTH CITY COUNCIL.

  • LDC FUNDED PROJECTS FOR CAMP BOWIE BOULEVARD FROM UNIVERSITY DRIVE TO MONTGOMERY STREET FOR $1,600,000 AND SANDMAN-HOTEL EXPLOSION - BUSINESS DISASTER RECOVERY GRANT FOR $137,205.10. REVENUE $25,016.34 GAS LEASE ROYALTIES, $4,000.00 PROGRAM SERVICE, AND $338,268.68 INTEREST/INVESTMENT.

    Expenses $1,737,205 · Grants $1,737,205 · Revenue $4,000

  • MARKETING AND RESEARCH TOTALLING $409,513 FOR THE YEAR. COVERS SCHAEFER ADVERTISING CO., BRAVER TOGETHER TARRANT AND JOHN SON PRESS EXPENDITURES.

    Expenses $409,513

  • URBAN MAIN STREET PILOT PROGRAM TOTALING $90,000 GIVEN TO SOUTHEAST FORT WORTH INC AND FORT WORTH HISPANIC CHAMBER OF COMMERCE IN AGREEMENT FOR THE MAIN STREET PILOT PROGRAM GRANT. PILOT PROGRAM TO SUPPORT COMMUNITY ECONOMIC DEVELOPLMENT AND COMMERCIAL DISTRICT REVITALIZATION EFFORTS IN TWO CORRIDORS OF THE CITY OF FORT WORTH.

    Expenses $90,000 · Grants $90,000

  • CONTRACTUAL SERVICES TOTALLING $54,102. COVERS GRAHAM ROBINSON (MOWING AND LANDSCAPING SERVICES) AND THE DEC (ENTREPRENEURSHIP)

    Expenses $54,102

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mattie Parker

    TRUSTEE

    Total calculated
    $28,995
    From this org
    $0
    From related orgs
    $28,995
    Other
    $0
    Hours/week
    1 + 39 related

  • Michael Crain

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Charles Lauersdorf

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Jared Williams

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Macy Hill

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Chris Nettles

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Elizabeth Beck

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Carlos Flores

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Jeanette Martinez

    TRUSTEE

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Gyna Bivens

    PRESIDENT / CHAIRMAN

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Alan Blaylock

    VICE PRESIDENT

    Total calculated
    $25,002
    From this org
    $0
    From related orgs
    $25,002
    Other
    $0
    Hours/week
    1 + 39 related

  • Reginald Zeno

    TREASURER

    Total calculated
    $229,897
    From this org
    $0
    From related orgs
    $229,897
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,897 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $229,897 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
  • 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

  • CITY OF FORT WORTH (DEVELOPMENT SERVICES AND TPW)

    $1,600,000

    CAMP BOWIE IMPROVEMENT PROJECT

  • FORT WORTH HISPANIC CHAMBER OF COMMERCE

    $45,000

    MAIN STREET PILOT PROGRAM GRANT

  • SOUTHEAST FORT WORTH INC

    $45,000

    MAIN STREET PILOT PROGRAM GRANT

  • COWTOWN SEGWAY

    $40,970

    SMALL BUSINESS DISASTER RECOVERY PROGRAM

  • LA'CREMIAN

    $37,224

    SMALL BUSINESS DISASTER RECOVERY PROGRAM

  • BARBER'S BOOKSTORE

    $31,414

    SMALL BUSINESS DISASTER RECOVERY PROGRAM

  • DAVID DALTON SALON

    $27,597

    SMALL BUSINESS DISASTER RECOVERY PROGRAM

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.

  • CITY OF FORT WORTH

    170(B)(A)(V) · LOCAL GOVERNMENT · 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LANCASTER CORRIDOR REDEVELOPMENT LLC

    REAL ESTATE DEVELOPMENT · TX · assets $1,299,660

    Directly controlled by FORT WORTH LOCAL DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
11 August 2025
IRS schema version
2023v6.0
Source object
202512259349301341

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