Fort Hood Region Economic Development Foundation

Nonprofit profile at a glance

EIN
821794219
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Killeen, TX, USA
Phone
2545269551
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment N.E.C.

Reported finances

Revenue
$128,777
Expenses
$90,693
Assets
$96,049
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MATT YOWELL (PRESIDENT)
  • KEITH MAXWELL (VICE PRESIDENT)

People named in this filing

  • MATT YOWELL (PRESIDENT)
  • AMY MILLSAP (DIRECTOR)
  • KEITH MAXWELL (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 provide vision, leadership, and support to educational, community and business leaders to create economic prosperity

What it reported doing in 2024

During the fiscal year ended september 30, 2025, the fort hood regional economic development foundation (fhred) continued its mission to support sustainable economic prosperity throughout the greater killeen region through regional collaboration, industry attraction, and strategic economic development initiatives. Fhred focused on attracting and incubating industry, growing investment, marketing regional competitive assets and research capabilities, and advancing infrastructure priorities. Activities included continued efforts related to future business park development following land acquisition in 2024; utilization of gazelle software and research tools to support target-industry research and business attraction; advocacy and marketing supporting interstate i-14 expansion and regional infrastructure needs; and regional economic development awareness through the july 2025 killeen economic outlook luncheon. These efforts supported fhred's broader objective of strengthening regional competitiveness, encouraging business investment, and positioning the fort hood region for long-term economic growth.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Affiliate network. The nonprofit sent 96% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 68
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.4%; rating input score 70
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: 29.6%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -6.4% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 70.4% of revenue deployed · 100% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $91K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.