Gainesville Economic Development Corporation

Gainesville, TX
Tax-exempt since Oct. 1999
EIN: 75-2706606

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Economic Development (NTEE)

Donations to this organization are tax deductible.

Revenue

$1.85M (2024)

Expenses

$1.13M (2024)

Total Assets

$10.5M (2024)

Total Liabilities

$523k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Sept.
2024

Revenue

$1,850,196

Expenses

$1,125,287

Net Income

$724,909

Net Assets

$9,984,947

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,646,643	89.0%
Program Services	$0
Investment Income	$434,547	23.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$321,342	17.4%
Net Fundraising	$0
Sales of Assets	-$552,336
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$266,098	23.6%

Assets/Debt
Total Assets	$10,508,175
Total Liabilities	$523,228
Net Assets	$9,984,947

Compensation

Key Employees and Officers	Compensation	Related	Other
William Myers (Executive Dir.)	$0	$0	$0
Ryan Morris (President)	$0	$0	$0
Jim Goldsworthy (Director)	$0	$0	$0
Lauri Johnson (Director)	$0	$0	$0
Mary Jo Dollar (Secretary)	$0	$0	$0
Martin Phillips (Director)	$0	$0	$0
Will Presson (Vice President)	$0	$0	$0
Joey Anderson (Director)	$0	$0	$0

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990

Filed on May 1, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Sept.
2023

Revenue

$2,728,953

Expenses

$1,013,691

Net Income

$1,715,262

Net Assets

$9,260,038

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,626,051	59.6%
Program Services	$0
Investment Income	$227,792	8.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$341,851	12.5%
Net Fundraising	$0
Sales of Assets	$533,259	19.5%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$160,735	15.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$88,124	8.7%

Assets/Debt
Total Assets	$9,630,187
Total Liabilities	$370,149
Net Assets	$9,260,038

Compensation

Key Employees and Officers	Compensation	Related	Other
William Myers (Executive Dir.)	$160,735	$0	$0
Ryan Morris (President)	$0	$0	$0
Jim Goldsworthy (Director)	$0	$0	$0
Lauri Johnson (Director)	$0	$0	$0
Mary Jo Dollar (Secretary)	$0	$0	$0
Martin Phillips (Director)	$0	$0	$0
Will Presson (Vice President)	$0	$0	$0
Joey Anderson (Director)	$0	$0	$0

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990

Filed on July 19, 2024

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Fiscal Year Ending Sept.
2022

Revenue

$1,913,813

Expenses

$668,181

Net Income

$1,245,632

Net Assets

$7,544,776

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,454,594	76.0%
Program Services	$0
Investment Income	$7,673	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$439,546	23.0%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$12,000	0.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$147,977	22.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$81,594	12.2%

Assets/Debt
Total Assets	$8,379,296
Total Liabilities	$834,520
Net Assets	$7,544,776

Compensation

Key Employees and Officers	Compensation	Related	Other
William Myers (Executive Dir.)	$147,977	$0	$0
Ryan Morris (President)	$0	$0	$0
Jim Goldsworthy (Director)	$0	$0	$0
Phillip Neelley (Secretary)	$0	$0	$0
Mary Jo Dollar (Director)	$0	$0	$0
Ray Nichols (Director)	$0	$0	$0
Will Presson (Vice President)	$0	$0	$0
Shelton Medlock (Director)	$0	$0	$0

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990

Filed on July 19, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Sept.
2021

Revenue

$1,357,421

Expenses

$631,543

Net Income

$725,878

Net Assets

$6,299,144

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,212,805	89.3%
Program Services	$0
Investment Income	$2,065	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$135,149	10.0%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$7,402	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$95,365	15.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$28,856	4.6%

Assets/Debt
Total Assets	$7,466,716
Total Liabilities	$1,167,572
Net Assets	$6,299,144

Compensation

Key Employees and Officers	Compensation	Related	Other
Audrey Schroyer (Executive Dir.)	$95,365	$0	$0
Ryan Morris (President)	$0	$0	$0
Jim Goldsworthy (Director)	$0	$0	$0
Phillip Neelley (Secretary)	$0	$0	$0
Mary Jo Dollar (Director)	$0	$0	$0
Ray Nichols (Director)	$0	$0	$0
Will Presson (Vice President)	$0	$0	$0
Shelton Medlock (Director)	$0	$0	$0

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990

Filed on April 26, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Sept.
2020

Revenue

$1,568,129

Expenses

$911,870

Net Income

$656,259

Net Assets

$5,573,266

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,276,886	81.4%
Program Services	$0
Investment Income	$9,899	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$281,344	17.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$92,952	10.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$36,638	4.0%

Assets/Debt
Total Assets	$6,960,737
Total Liabilities	$1,387,471
Net Assets	$5,573,266

Compensation

Key Employees and Officers	Compensation	Related	Other
Audrey Schroyer (Executive Dir.)	$53,654	$0	$0
Arleene Lloyd (Executive Direc)	$39,298	$0	$0
Tommy James (President)	$0	$0	$0
Bob Bloom (Director)	$0	$0	$0
Phillip Neelley (Director)	$0	$0	$0
David Moore (Director)	$0	$0	$0
Keith Clegg (Director)	$0	$0	$0
Will Presson (Director)	$0	$0	$0

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990

Filed on March 8, 2021

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Fiscal Year Ending Sept.
2019

Revenue

$1,765,240

Expenses

$2,509,109

Net Income

-$743,869

Net Assets

$4,917,007

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,507,697	85.4%
Program Services	$0
Investment Income	$16,010	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$241,533	13.7%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$122,274	4.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$50,184	2.0%

Assets/Debt
Total Assets	$6,538,323
Total Liabilities	$1,621,316
Net Assets	$4,917,007

Compensation

Key Employees and Officers	Compensation	Related	Other
Arleene Lloyd (Executive Direc)	$122,274	$0	$0
Trey Schalk (Director)	$0	$0	$0
Keith Clegg (Director)	$0	$0	$0
Will Presson (Director)	$0	$0	$0
Tommy James (President)	$0	$0	$0
Bob Bloom (Director)	$0	$0	$0
Phillip Neelley (Director)	$0	$0	$0
David Moore (Director)	$0	$0	$0

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990

Filed on March 8, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Sept.
2018

Revenue

$1,756,926

Expenses

$1,079,461

Net Income

$677,465

Net Assets

$5,660,876

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,313,612	74.8%
Program Services	$0
Investment Income	$10,699	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$432,370	24.6%
Net Fundraising	$0
Sales of Assets	$245	0.0%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$101,026	9.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$56,506	5.2%

Assets/Debt
Total Assets	$7,404,148
Total Liabilities	$1,743,272
Net Assets	$5,660,876

Compensation

Key Employees and Officers	Compensation	Related	Other
Arleene Lloyd (Executive Direc)	$101,026	$0	$0
Ray Nichols (Vice President)	$0	$0	$0
Keith Clegg (Director)	$0	$0	$0
Tommy James (President)	$0	$0	$0
Bob Bloom (Director)	$0	$0	$0
Phillip Neelley (Director)	$0	$0	$0
Scott Richardson (Director)	$0	$0	$0

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990

Filed on May 28, 2019

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Fiscal Year Ending Sept.
2017

Revenue

$1,400,737

Expenses

$801,933

Net Income

$598,804

Net Assets

$4,994,588

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,108,148	79.1%
Program Services	$0
Investment Income	$6,418	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$286,171	20.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$154,259	19.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$112	0.0%

Assets/Debt
Total Assets	$6,995,245
Total Liabilities	$2,000,657
Net Assets	$4,994,588

Compensation

Key Employees and Officers	Compensation	Related	Other
Ray Nichols (Vice President)	$0	$0	$0
Keith Clegg (Director)	$0	$0	$0
Arleene Lloyd (Executive Direc)	$0	$0	$0
Tommy James (President)	$0	$0	$0
David Moore (Director)	$0	$0	$0
Phillip Neelley (Director)	$0	$0	$0
Scott Richardson (Director)	$0	$0	$0
Mitchell Shauf (Director)	$0	$0	$0

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990

Filed on March 13, 2018

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Fiscal Year Ending Sept.
2016

Revenue

$1,776,287

Expenses

$1,553,190

Net Income

$223,097

Net Assets

$4,395,784

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,139,094	64.1%
Program Services	$0
Investment Income	$4,746	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$154,083	8.7%
Net Fundraising	$0
Sales of Assets	$478,340	26.9%
Net Inventory Sales	$0
Other Revenue	$24	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$103,259	6.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$49,113	3.2%

Assets/Debt
Total Assets	$6,589,849
Total Liabilities	$2,194,065
Net Assets	$4,395,784

Compensation

Key Employees and Officers	Compensation	Related	Other
Ray Nichols (Vice President)	$0	$0	$0
Bob Bloom (Secretary)	$0	$0	$0
Arleene Lloyd (Executive Direc)	$0	$0	$0
Tommy James (President)	$0	$0	$0

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990

Filed on Feb. 13, 2017

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Fiscal Year Ending Sept.
2015

Revenue

$1,455,805

Expenses

$1,380,497

Net Income

$75,308

Net Assets

$4,172,687

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,183,356	81.3%
Program Services	$0
Investment Income	$2,201	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$265,200	18.2%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$5,048	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$94,158	6.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$47,134	3.4%

Assets/Debt
Total Assets	$6,657,210
Total Liabilities	$2,484,523
Net Assets	$4,172,687

Compensation

Key Employees and Officers	Compensation	Related	Other
Arleene Loyd (Executive Direc)	$94,158	$0	$0
Beverly Snuggs (Director)	$0	$0	$0
Ray Nichols (Director)	$0	$0	$0
Ryan Morris (Vice President)	$0	$0	$0
Bob Bloom (Treasurer)	$0	$0	$0
Scott Richardson (Director)	$0	$0	$0
Tommy James (President)	$0	$0	$0
David Moore (Director)	$0	$0	$0

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990

Filed on May 4, 2016

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Fiscal Year Ending Sept.
2014

Revenue

$1,712,253

Expenses

$1,439,488

Net Income

$272,765

Net Assets

$4,191,121

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,442,434	84.2%
Program Services	$0
Investment Income	$2,044	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$287,300	16.8%
Net Fundraising	$0
Sales of Assets	-$19,525
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$112,960	7.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$41,878	2.9%

Assets/Debt
Total Assets	$6,723,736
Total Liabilities	$2,532,615
Net Assets	$4,191,121

Compensation

Key Employees and Officers	Compensation	Related	Other
Beverly Snuggs (Director)	$0	$0	$0
Ray Nichols (Director)	$0	$0	$0
Ryan Morris (Director)	$0	$0	$0
Bob Bloom (Treasurer)	$0	$0	$0
Mark Scruggs (Director)	$0	$0	$0
Arleene Loyd (Executive Direc)	$0	$0	$0
Tommy James (President)	$0	$0	$0
Joe Wallace (Vice President)	$0	$0	$0

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990

Filed on Feb. 12, 2015

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Fiscal Year Ending Sept.
2013

Revenue

$1,475,313

Expenses

$1,492,798

Net Income

-$17,485

Net Assets

$3,918,356

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,203,892	81.6%
Program Services	$0
Investment Income	$15,864	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$255,557	17.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$161,954	10.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$4,025,468
Total Liabilities	$107,112
Net Assets	$3,918,356

990

Filed on April 8, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Sept.
2012

Revenue

$1,782,539

Expenses

$1,423,864

Net Income

$358,675

Net Assets

$3,935,841

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,503,146	84.3%
Program Services	$0
Investment Income	$7,221	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$265,200	14.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$6,972	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$101,249	7.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$51,960	3.6%

Assets/Debt
Total Assets	$4,333,185
Total Liabilities	$397,344
Net Assets	$3,935,841

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2011

Revenue

$1,295,782

Expenses

$1,022,670

Net Income

$273,112

Net Assets

$3,577,166

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,078,872	83.3%
Program Services	$0
Investment Income	$11,846	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$205,064	15.8%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$111,403	10.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$30,482	3.0%

Assets/Debt
Total Assets	$3,981,814
Total Liabilities	$404,648
Net Assets	$3,577,166

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Gainesville Economic Development Corporation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.85M (2024)

Expenses $1.13M (2024)

Total Assets $10.5M (2024)

Total Liabilities $523k (2024)

Tax Filings by Year

Fiscal Year Ending Sept. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Sept. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Sept. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Sept. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Revenue

$1.85M (2024)

Expenses

$1.13M (2024)

Total Assets

$10.5M (2024)

Total Liabilities

$523k (2024)

Fiscal Year Ending Sept.
2024

Fiscal Year Ending Sept.
2023

Fiscal Year Ending Sept.
2022

Fiscal Year Ending Sept.
2021

Fiscal Year Ending Sept.
2020

Fiscal Year Ending Sept.
2019

Fiscal Year Ending Sept.
2018

Fiscal Year Ending Sept.
2017

Fiscal Year Ending Sept.
2016

Fiscal Year Ending Sept.
2015

Fiscal Year Ending Sept.
2014

Fiscal Year Ending Sept.
2013

Fiscal Year Ending Sept.
2012

Fiscal Year Ending Sept.
2011

Fiscal Year Ending Sept.
2010

Fiscal Year Ending Sept.
2008

Fiscal Year Ending Sept.
2007

Fiscal Year Ending Sept.
2006

Fiscal Year Ending Sept.
2005

Fiscal Year Ending Sept.
2004

Fiscal Year Ending Sept.
2003

Fiscal Year Ending Sept.
2002

Fiscal Year Ending Sept.
2001

Fiscal Year Ending Sept.
2000