Industrial Development Corporation of Iowa Park Texas Inc

Nonprofit profile at a glance

EIN
751244634
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2012, Form 990-N 2021
Location
Iowa Park, TX, USA
Phone
9405925441
Rating confidence
Limited

Reported finances

Revenue
$418,002
Expenses
$6,981
Assets
$999,987
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • RANDY CATLIN (PRESIDENT)

People named in this filing

  • RANDY CATLIN (PRESIDENT)
  • KEN VIA (TREASURER)
  • MIKE PRICE (SECRETARY)

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 attract industrial and retail development and to create or retain jobs within the city of Iowa park, Texas, including rendering financial and other assistance to the manufactoring, industrial, business, and trade development in the city and vicinity; inducing the location of new such businesses in Iowa park and vicinity; purchasing, subdividing, selling and leasing of real property in the city of Iowa park or its suburbs not extending more than two miles beyond its city limits; and to accumulate and lend money for said purpose.

What it reported doing in 2024

The organization held, maintained, and promoted several properties within the city of Iowa park ready for industrial or retail development. They sold one lot to joali investments i, llc.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 94
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: 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: 98.3%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 143.24; rating input score 99; 99th 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: Limited
  • Revenue growth: 17.2% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $7K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 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.