Arcola 4B Corporation

Nonprofit profile at a glance

EIN
760532858
IRS 990 coverage
2019–2021
Forms available
Form 990 2021
Location
Arcola, TX, USA
Phone
2814311852
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$181,737
Expenses
$0
Assets
$713,476
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • Veeda Williams (Secretary)
  • Gregg Abarr (Chair)
  • Charlotte Fielder (Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

4B Economic Development Corporation created under the state laws of Texas to promote economic development within the city for public purposes. This is a component unit of the city of Arcola that operates from the collection of sales tax revenues.

What it reported doing in 2021

A portion of sales tax revenue from the City of Arcola activities.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 10
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 14.9% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 30.7% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 3 filing years from 2019 to 2021
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.