The Woodlands Area Economic Development Partnership

Nonprofit profile at a glance

EIN
474960672
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
The Woodlands, TX, USA
Phone
2813638133
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,067,736
Expenses
$1,157,853
Assets
$1,043,199
Liabilities
$331,253

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

Leadership & pay

33 people listed

Executive titles in this filing

  • JEVON GIBB (CHIEF EXECUTIVE OFFICER (BEGINNING 01/13/2025))
  • GIL STALEY (CHIEF EXECUTIVE OFFICER (UNTIL 01/13/2025))

Highest reported compensation

  • GIL STALEY (CHIEF EXECUTIVE OFFICER (UNTIL 01/13/2025)): $266,577 total reported compensation

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

Overview

Mission

The mission of the woodlands area economic development partnership (edp) is to work on deals and initiatives, recruiting new companies that enjoy becoming part of the woodlands area community, while solving issues and seizing opportunities that catalyze economic development.

What it reported doing in 2024

Business recruitment: the edp sources, leads, or supports deals that recruit new businesses to the woodlands area. It focuses on target market opportunities where it has a competitive advantage and where the target companies match the economic development vision of our community these are currently energy, chemicals, biomanufacturing, and premium office. This is accomplished through key relationships with lead generators, such as site consultants, the office of the governor, commercial real estate brokers, and developers. Successful deals result in new jobs and investment, boosting economic prosperity for the community.

Operating model

Revenue model
Membership-supported. 63% of the money available for current operations came from membership dues.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 90
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 23%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 31 of 31 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $606K in reported program spending
  • Leadership: top reported pay $267K · 33 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.