Morgan's Point Resort Economic Development Corporation

Nonprofit profile at a glance

EIN
921748879
IRS 990-EZ coverage
2020–2024
Forms available
Form 990-EZ 2024
Location
Morgans Point Resort, TX, USA
Phone
7603107861
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$80,178
Expenses
$3,818
Assets
$218,585

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

Leadership & pay

6 people listed

Executive titles in this filing

  • LINDA BRIDGES (PRESIDENT)
  • JASON JOHNSON (VICE PRESIDENT)

People named in this filing

  • LINDA BRIDGES (PRESIDENT)
  • JASON JOHNSON (VICE PRESIDENT)
  • TERRY HARRAH (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Morgans Point Resort EDC: Work on behalf of the City of Morgans Point Resort to provide financing for city projects(parks, auditoriums, open space improvements & publicly owned facilities)as defined in the Texas Development Corporation Act.Bring in tourism revenue by offering special amenities in our city parks.

What it reported doing in 2024

Improvements to promote the common good and general welfare of the people of Morgans Point Resort, Texas as permitted under the Development Corporation Act of 1979

Operating model

Revenue model
Other-operating. 100% 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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 82
  • Sustainability: 82
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.8%; rating input score 5
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 95.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 57.25; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -74.6% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -25.5% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 31.2% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 4.8% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 5 filing years from 2020 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.

  • High — Financial Efficiency: Mission deployment rate scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.