Taylor Economic Development Corp

Nonprofit profile at a glance

EIN
742719298
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Taylor, TX, USA
Phone
5123524321
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$14,572,872
Expenses
$3,021,649
Assets
$27,412,277
Liabilities
$966,481

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BEN WHITE (PRESIDENT/CE)

Highest reported compensation

  • BEN WHITE (PRESIDENT/CE): $227,389 total reported compensation

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

Overview

Mission

To promote and faciliate the economic development of the city of taylor, tx

What it reported doing in 2024

Marketing expenses in recruiting new business

Operating model

Revenue model
Other-operating. 73% 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 most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 60
  • Accountability: 69
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 12.6%; rating input score 13
  • Program expense ratio: 64.2%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 79.3%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 9.07; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 23.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 21.4% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 17.4% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 12.6% of revenue deployed · 64.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $227K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 13/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.