Midtown Improvement and Development Corp

Nonprofit profile at a glance

EIN
473549741
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Houston, TX, USA
Phone
7135267577
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$2,100,609
Expenses
$2,063,671
Assets
$908,803
Liabilities
$221,099

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

Leadership & pay

4 people listed

People named in this filing

  • WILLIAM R FRANKS (ACTING BOARD CHAIR)
  • MATT THIBODEAUX (SECRETARY/TREASURER)
  • ABE S GOREN (BOARD 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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Aid and assist the midtown redevelopment authority of the city of houston, Texas with the implementation of the project plan for the reinvestment zone number two, city of houston, Texas, and the midtown management district, a special district created under chapter 3809, Texas special district local laws code, with the promotion, development, encouragement and maintenance of employment, commerce, transportation, housing, tourism, recreation, the arts, entertainment, economic development, safety and the public welfare in the midtown area of the city of houston, Texas.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.9%; rating input score 89
  • Program expense ratio: 90.5%; rating input score 90
  • 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: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.8%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 11.7% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: -9.2% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 88.9% of revenue deployed · 90.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 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 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.