Plainview-Hale Co Industrial Foundation

Nonprofit profile at a glance

EIN
756050019
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Plainview, TX, USA
Phone
8062921075
Rating
35
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$240,250
Expenses
$172,387
Assets
$945,592
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Jordan Loeffler (Vice President)
  • Rance Loafman (Vice President)
  • Sharon Wright (President)

Highest reported compensation

  • Kristi Aday (Executive Dir.): $115,411 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote industrial development and create jobs in the city of Plainview and the county of Hale, TX.

What it reported doing in 2024

Assisted prospective businesses desiring to locate or relocate operations in Plainview and Hale County, Texas.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
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

REVIEW - Revenue comfortably covers expenses and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 57
  • Accountability: 58
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 4th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 71.4%; rating input score 71; 46th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 28.2%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 5.49; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 66.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -11.1% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $158K in reported program spending
  • Leadership: top reported pay $115K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 12 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 2/100.