Killeen Economic Development

Nonprofit profile at a glance

EIN
742594957
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Killeen, TX, USA
Phone
2545269551
Rating
90
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,539,026
Expenses
$1,531,081
Assets
$12,268,156
Liabilities
$2,694,301

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JOSE GUZMAN (VICE PRESIDENT)
  • KELLY BROWN (PRESIDENT)

People named in this filing

  • CURT GAINES (KIF REP)
  • NINA COBB (SECRETARY)
  • ANTHONY KENDRICK (CITY REP)

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 economic development in the community by expandng existing businesses and attracting new businesses.

What it reported doing in 2024

To provide matching scholarship funds generated in the community and to be used for economic development incentives for prospective businesses

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.6%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 8.01; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 99.6% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 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 — Sustainability: Operating margin scored 38/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.