Alto Economic Development Corporation
- Assets
- $370.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Alto, TX
- Founding
- 08/2010
- Data as of
- 12/2022
- EIN
- 27-0925328
Organization Overview
Alto Economic Development Corporation is located in Alto, TX. The organization was established in 2010. 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. Alto 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 12/2022, Alto Economic Development Corporation generated $81.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $61.3k during the year ending 12/2022. While expenses have increased by 5.0% per year over the past 8 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.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO PROMOTE BUSINESS EXPANSION IN THE ALTO AREA THAT BUILDS A STRONGER, MORE DIVERSIFIED ECONOMY AND INCREASES THE ECONOMIC VITALITY AND WEALTH OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carey Palmer President | 0 | $0 | |
Cody Allen Director | 0 | $0 | |
James D Pearman Treasurer | 0 | $0 | |
Larry Griffith Secretary | 0 | $0 | |
Ron Rose Director | 0 | $0 | |
Mary Mitchell Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,306 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $452 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $81,758 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $33,499 |
| Professional fees and other payments to independent contractors | $6,081 |
| Occupancy, rent, utilities, and maintenance | $5,485 |
| Printing, publications, postage, and shipping | $151 |
| Other expenses | $16,036 |
| Total expenses | $61,252 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $164,534 |
| Other assets | $0 |
| Total assets | $370,570 |
| Total liabilities | $2,626 |
| Net assets or fund balances | $367,944 |