Metroplex Economic Development Corp
- Assets
- $2.5m
- Revenue
- $850.3k
- Investments
- $0.0
- Employees
- 13
- Location
- Dallas, TX
- Founding
- 09/1998
- Data as of
- 12/2022
- EIN
- 75-2768840
Organization Overview
Metroplex Economic Development Corp is located in Dallas, TX. The organization was established in 1998. 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. As of 12/2022, Metroplex Economic Development Corp employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metroplex Economic Development Corp 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, Metroplex Economic Development Corp generated $850.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (26.0%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (23.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ALLEVIATE POVERTY AND ITS EFFECTS ON THE LOCAL COMMUNITY AND TO PROVIDE EDUCATION. THE ORGANIZATION OPERATES AS A LOCAL ECONOMIC DEVELOPMENT CORPORATION, PROVIDING FUNDING TO LOCAL BUSINESSES, JOB TRAINING & EDUCATION, BUSINESS COUNSELING, COMMUNITY SERVICES, AND SIMILAR ACTIVITIES TO RELIEVE POVERTY IN ECONOMICALLY DEPRESSED AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEXAS OFFENDERS RE-ENTRY INITIATIVE (TORI): TO AIDE AND ASSIST EX-OFFENDERS IN TRANSITIONING BACK INTO SOCIETY BY PROVIDING EMPLOYMENT TRAINING, COUNSELING AND PLACEMENT SERVICES AS WELL AS TRANSITIONAL HOUSING.
ECONOMIC DEVELOPMENT: BUSINESS NETWORK, CONFERENCES, AND PROJECTS THAT FACILITATE BUSINESS AND ECONOMIC GROWTH, JOB TRAINING AND EDUCATION, AND COMBAT COMMUNITY DETERIORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darwin Bruce Director | Trustee | 1 | $0 |
Frank Dyer President | OfficerTrustee | 1 | $0 |
Mark Jones Director | Trustee | 1 | $0 |
Tina Naidoo Executive Director Tori | Officer | 40 | $141,859 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hairston Global Protection Services Security Services | 12/30/20 | $126,941 |
The Leap Agency Llc Digital Marketing | 12/30/20 | $101,291 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $246,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $288,249 |
| Noncash contributions included in lines 1a–1f | $64,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,916 |
| Total Program Service Revenue | $135,634 |
| Investment income | $6,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $167,803 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,234 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $850,303 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $184,939 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,362 |
| Pension plan accruals and contributions | $10,588 |
| Other employee benefits | $108,599 |
| Payroll taxes | $43,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $274,004 |
| Advertising and promotion | $44,666 |
| Office expenses | $51,901 |
| Information technology | $7,969 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,942 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,233 |
| Insurance | $21,774 |
| All other expenses | $7,958 |
| Total functional expenses | $1,292,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,998,936 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $253,823 |
| 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 | $618 |
| Net Land, buildings, and equipment | $212,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,466,015 |
| Accounts payable and accrued expenses | $92,822 |
| Grants payable | $0 |
| Deferred revenue | $6,106 |
| Tax-exempt bond liabilities | $0 |
| 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 | $991 |
| Total liabilities | $99,919 |
| Net assets without donor restrictions | $2,366,096 |
| Net assets with donor restrictions | $0 |
| 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 | $2,466,015 |