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Nonprofiteer
← VERNON INDUSTRIAL FOUNDATION INC

Form 990 for tax year 2022

Filed by VERNON INDUSTRIAL FOUNDATION INC.

Totals

Total revenue
$1,972
Total expenses
$6,687
Contributions and grants received
$1,760
Grants paid
$0
Program service revenue
$0
Investment income
$212
Other revenue
$0
Total assets, end of year
$170,787
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$170,787
Program services expenses (Part IX)
$0
Management and general expenses
$6,687
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 1b · Membership dues

    $1,760

  • 3 · Investment income

    total $212 · related or exempt $212

  • 7a · Gross sales of assets other than inventory

    other assets $274,000

  • 7b · Less cost or other basis and sales expenses

    other assets $274,000

  • 7c · Gain or loss

    other assets $0

  • 7d · Net gain or loss

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $2,750 · management and general $2,750

  • 24a · Other expenses: AdValorem taxes

    total $3,937 · management and general $3,937

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,504 · end of year $19,974

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

    $94,114

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

    $31

  • 10c · Land, buildings and equipment, net

    beginning of year $94,083 · end of year $94,083

  • 12 · Investments: other securities

    beginning of year $48,915 · end of year $49,111

  • 15 · Other assets

    beginning of year $0 · end of year $7,619

  • 25 · Other liabilities

    beginning of year $5,000 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $175,502 · end of year $170,787

Mission and programs · 2022

Mission

Promote industrial development of City of Vernon and Wilbarger County , Texas

Activities or mission (Part I)

Industrial development

  • Transfer of commercial property from City to commercial enterprise.

  • NONE

  • NONE

As filed on the 2022 return.

Listed in Part VII

  • Gene Tyra

    President

    Total calculated
    $0
    Hours/week
    0

  • William Bachman

    Vice-President

    Total calculated
    $0
    Hours/week
    0

  • Missie Risinger

    Treasurer/Secretary

    Total calculated
    $0
    Hours/week
    0

  • Michael Moore

    Director

    Total calculated
    $0
    Hours/week
    0

  • Horace Tabor

    Director

    Total calculated
    $0
    Hours/week
    0

  • Trent Gillespie

    Director

    Total calculated
    $0
    Hours/week
    0

  • Joe Rogers

    Director

    Total calculated
    $0
    Hours/week
    0

  • Terry Spears

    Director

    Total calculated
    $0
    Hours/week
    0

  • AB Wharton

    Director

    Total calculated
    $0
    Hours/week
    0

  • Jim Pennington

    Director

    Total calculated
    $0
    Hours/week
    0

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
5 July 2023
IRS schema version
2022v5.0
Source object
202301919349300220

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