Heart of Texas Economic Development District Inc

Analysis

Heart of Texas Economic Development District Inc is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Heart of Texas Economic Development District Inc reported income of $231k and spending of $166k, leaving 28% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $273k to $231k (-15%), an average of -4.0% a year. The sharpest change came in the year to September 2022, when income dropped by 33%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Heart of Texas Economic Development District Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Yah-Yah Girls Inc ($231k), The Foundation of the Dyersburg Dyer County Chamber of Commerce ($232k) and Christian Business Round Table Inc ($231k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 14% and program service revenue 8.0% of the total. At year end it held assets of $2.1m against liabilities of $719k, net assets of $1.4m.