Orange Economic Development Corporation
- Assets
- $11.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Orange, TX
- Founding
- 06/2004
- Data as of
- 09/2021
- EIN
- 22-3873498
Organization Overview
Orange Economic Development Corporation is located in Orange, TX. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orange Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Orange Economic Development Corporation generated $2.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $2.0m during the year ending 09/2021. While expenses have increased by 14.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Orange Economic Development Corporation has awarded 11 individual grants totaling $1,167,713. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORANGE EDC IS A NOT FOR PROFIT 4B SALES TAX CORPORATION SALES TAX REVENUE BY STATE LAW CAN ONLY BE USED FOR ECON DEVEL PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAPTER 380 ECONOMIC DEVELOPMENT PROGRAM- REIMBURSEMENT OF SALES TAX TO AN ANNEXED PROPERTY, PER THE CHAPTER 380 AGREEMENT.
BOULEVARD / STREET CONSTRUCTION FOR THE EAGLE POINT DEVELOPMENT PROJECT.
SMALL BUSINESSES - ECONOMIC INCENTIVE BY REIMBURSING APPROVED, QUALIFIED INFRASTRUCTURE IMPROVEMENTS FOR APPROVED APPLICATIONS. CYPRESSWOOD VILLAGE - $350,000 TROPICAL VIBES DAIQUIRIS - $50,000 GOLDEN CHICK - $195,000 TIA JUANITA'S FISH CAMP - $125,000 LUIGI'S ITALIAN GRILL - $125,207 WATER TREE - $95,000 RED PLAZA, LLC - $78,000 UNION PACIFIC RAILROAD - $10,887
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy L Trahan Executive Director | 40 | $142,853 | |
Michael Smith President | Officer | 1 | $0 |
Brad Childs Vice President | Officer | 1 | $0 |
Divon Willliams Treasurer | Officer | 1 | $0 |
Paul Burch Secretary | Officer | 1 | $0 |
Mark Frey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,070 |
| Total Program Service Revenue | $0 |
| Investment income | $1,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,310,551 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,018,207 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $133,945 |
| Compensation of current officers, directors, key employees. | $133,945 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $28,418 |
| Other employee benefits | $12,269 |
| Payroll taxes | $10,612 |
| Fees for services: Management | $117,379 |
| Fees for services: Legal | $23,623 |
| Fees for services: Accounting | $7,645 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,426 |
| Office expenses | $8,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,000 |
| Travel | $4,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,602 |
| Interest | $161,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $304,934 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,972,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,791,642 |
| Savings and temporary cash investments | $248,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $411,307 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $118,569 |
| Net Land, buildings, and equipment | $6,622,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,191,752 |
| Accounts payable and accrued expenses | $76,980 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $4,735,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,552 |
| Total liabilities | $4,837,532 |
| Net assets without donor restrictions | $4,242,166 |
| Net assets with donor restrictions | $2,112,054 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,191,752 |
Grants Awarded
Over the last fiscal year, Orange Economic Development Corporation has awarded $1,041,045 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CYPRESSWOOD VILLAGE | | | $350,000 |
GOLDEN CHICK | | | $195,000 |
LUIGI'S ITALIAN GRILL | | | $125,207 |
TIA JUANITA'S FISH CAMP | | | $125,000 |
WATER TREE | | | $95,000 |
RED PLAZA LLC | | | $78,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |
Mcallen Economic Development Corporation Mcallen, TX | $25,789,547 | $5,490,638 |
Greater Brownsville Incentives Corporation Brownsville, TX | $32,068,237 | $6,507,551 |