Eastland Industrial Foundation Inc

Nonprofit profile at a glance

EIN
756042159
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Eastland, TX, USA
Phone
2546292201
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$125,538
Expenses
$8,672
Assets
$1,018,951
Liabilities
$60,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MIKE PERRY (PRESIDENT)
  • EMMETT LASATER (VICE PRESIDENT)

People named in this filing

  • MIKE PERRY (PRESIDENT)
  • CARY MEEKS (SECTREAS)
  • EMMETT LASATER (VICE PRESIDENT)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote industry within the foundations geographic area

What it reported doing in 2024

The foundation continues its ongoing cooperation with the eastland chamber of commerce, eastland economic development, inc., and eastland assisted living, inc. In efforts to attract industries to the foundationss geographic area. Projects are on-going.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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: 41
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 87
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.1%; rating input score 13
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 93.1%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 117.5; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -6% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 13.1% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $9K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 13/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.