HEART OF TEXAS ECONOMIC DEVELOPMENT DISTRICT INC Charity Report

Public IRS 990 nonprofit record

HEART OF TEXAS ECONOMIC DEVELOPMENT DISTRICT INC

EIN 27-0083125 · Community & Neighborhood Development (S20)

What they do

THE EXEMPT PURPOSE of THE HEART of TEXAS ECONOMIC DEVELOPMENT DISTRICT is to PROMOTE ECONOMIC GROWTH IN THE HEART of TEXAS COUNCIL of GOVERNMENTS REGION IN THE STATE of TEXAS, to INCREASE EMPLOYMENT OPPORTUNITIES for THE UNEMPLOYED and UNDEREMPLOYED, to ASSIST and COORDINATE ECONOMIC DEVELOPMENT EFFORTS of LOCAL GOVERNMENTS and ORGANIZATIONS, to DEVELOP A COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY for THE REGION, to CONDUCT OTHER ACTIVITIES SUPPORTING THE REGIONS ECONOMIC DEVELOPMENT GOALS and OBJECTIVES, and to EXERCISE ALL OTHER RIGHTS and POWERS GRANTED to THE CORPORATION PURSUANT to THE TEXAS NON-PROFIT CORPORATION ACT.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $60.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders20 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

30.29%of revenue went to mission work60.1% of expenses · Program services

$35.34spent for every $100 of revenueRevenue covered expenses this year.

20.12%of revenue went to management and office costs39.9% of expenses

$11.79in assets for every $1 spent this yearSome assets cannot be spent right away.

32.5%of its money came from giftsOther money may come from services or investments.

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What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$431,916

Mission workProgram services$130,81630.29% of revenue60.1% of expenses

ManagementOffice and general costs$86,90120.12% of revenue39.9% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$214,19949.59% of revenueShown in gray on the chart

Total expenses$217,71750.41% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2023CurrentExpense mix: 60.1% mission · 39.9% management · 0.0% fundraisingTotal expenses: 50.41% of revenue

2022Expense mix: 74.9% mission · 25.1% management · 0.0% fundraisingTotal expenses: 71.62% of revenue

2021Expense mix: 57.1% mission · 42.9% management · 0.0% fundraisingTotal expenses: 141.25% of revenue

2020Expense mix: 50.7% mission · 49.3% management · 0.0% fundraisingTotal expenses: 54.28% of revenue

2019Expense mix: 56.5% mission · 43.5% management · 0.0% fundraisingTotal expenses: 69.53% of revenue

2018Expense mix: 51.7% mission · 48.3% management · 0.0% fundraisingTotal expenses: 45.94% of revenue

2017Expense mix: 70.3% mission · 29.7% management · 0.0% fundraisingTotal expenses: 80.44% of revenue

2016Expense mix: 70.5% mission · 29.5% management · 0.0% fundraisingTotal expenses: 113.04% of revenue

Money in and money out

Revenue$616,006

Expenses$217,717

Annual surplus $398,289 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$130,816 · 60.1% of expenses

Management and office costs$86,901 · 39.9% of expenses

See all reported dollar amounts

Revenue$616,006

Expenses$217,717

Assets$2,566,908

Income$762,094

Contributions$199,900

Mission work (program services)$130,816

Grants given$549,932

Average grant$68,742

Management and general$86,901

Accounting fees$10,100

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (20)

JUSTIN LEWISDIRECTOR

SCOTT FELTONDIRECTOR

RUSSELL DEVORSKYPRESIDENT

ROBERT HAWKINSDIRECTOR

RICHARD DUNCANDIRECTOR

RAY ODOCHARTYDIRECTOR

RANGY RIGGSDIRECTOR

MATTHEW WRIGHTDIRECTOR

LINDA GRANTDIRECTOR

KEVIN BENEDICTDIRECTOR

ANDREA KOSARDIRECTOR

JAY ELLIOTTDIRECTOR

IGNACIO VAZQUEZDIRECTOR

DICK VAN DYKEDIRECTOR

DAVID DAVISSECRETARY/TREASURER

DAMARIS NEELEYDIRECTOR

CINDY VANLANDINGHAMVICE CHAIR

CHARLES EATONCHAIR

CALVIN REUTERDIRECTOR

ART MANNDIRECTOR

About this charity

Recognized since: January 2004
Location: 1514 S NEW RD, WACO, TX 76711-1316
County: McLennan
In care of: % KENNETH L SIMONS
Primary officer: RUSSELL DEVORSKY, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(254) 292-1800

Filing and classification

Latest tax year: 2023
Tax period began: October 1, 2023
Return type: 990
Tax preparer: PATTILLO BROWN & HILL LLP
NTEE classification: Community & Neighborhood Development (S20)
IRS tax category: Community & Neighborhood Development
Grant-giving organization: Yes