Overview
What is Carthage Economic Development Corp?
Carthage Economic Development Corp is a nonprofit organization located in Carthage, Texas. Its primary mission is to promote and enhance economic development activities within the city, as outlined by the State of Texas Development Corporation Act of 1979. In pursuit of this goal, the organization engages in various initiatives, including supporting existing businesses and attracting new ones to the community. During the recent fiscal year, Carthage Economic Development Corp made significant strides by purchasing approximately 67 acres of land for future development and entering into an agreement for the sale of approximately 10 acres, where a new building will be constructed to the buyer's specifications. This project, valued at approximately $380,000, will be financed by the organization for the business owner over a 10-year term. With a small team of two dedicated individuals, Carthage Economic Development Corp continues to work tirelessly in benefiting and accomplishing public purposes for the City of Carthage, Texas.
Official website here: www.carthagetexas.com
Is Carthage Economic Development Corp legitimate?
Carthage Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carthage Economic Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $35,450
Professional Fundraising Fees: $0
Other Salaries and Wages: $61,194
For more financial information, click here
Official website here: www.carthagetexas.com
What is the mission statement of Carthage Economic Development Corp?
The Carthage Economic Development Corp's mission is to serve a public purpose by promoting, assisting, and enhancing economic development activities. This is done in accordance with the State of Texas Development Corporation Act of 1979, as outlined in the Local Government Code, Chapter 504. The organization's primary goal is to benefit the community by attracting businesses and supporting the operations of existing ones. In FY22, the Corp made significant strides, purchasing approximately 67 acres of land for future development and entering into an agreement for the sale of approximately 10 acres for a new building construction. These initiatives are aimed at fostering economic growth and development.
Official website here: www.carthagetexas.com
Who is the CEO of Carthage Economic Development Corp?
Stephen K Williams is the President of Carthage Economic Development Corp.
Official website here: www.carthagetexas.com
What is the revenue of Carthage Economic Development Corp?
Carthage Economic Development Corp's revenue in 2022 was $781,390.
Official website here: www.carthagetexas.com
Who are the executives of Carthage Economic Development Corp and what are their salaries?
The average compensation at Carthage Economic Development Corp during 2022 was $48,322. There are 2 employees and 5 volunteers at Carthage Economic Development Corp.
Here are 6 key members and their salaries:
- Compensation: $35,450
- Related: $144,464
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.carthagetexas.com
Where can I find the form 990 for Carthage Economic Development Corp?
Carthage Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.carthagetexas.com
Learn more at the official website: www.carthagetexas.com
Mission Statement of Carthage Economic Development Corp
The Carthage Economic Development Corp, as per its mission, aims to benefit and accomplish public purposes for any city in Texas, specifically Carthage, by promoting, assisting, and enhancing economic development activities. This is done in adherence to the State of Texas Development Corporation Act of 1979, as outlined in the Local Government Code, Chapter 504. The organization's primary goal is to foster economic growth and development within the community, supporting existing businesses and attracting new ones to establish Carthage as a thriving business destination. In the fiscal year 2022, the organization took significant strides towards this mission, purchasing approximately 67 acres of land for future development and entering into an agreement for the sale of approximately 10 acres, on which a new building would be constructed, for a buyer. This project, valued at approximately $380,000, would be financed by the organization for the business owner over a 10-year term.
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Impact
October, 2024
Carthage Economic Development Corp significantly impacts the local economy by enhancing business growth and promoting the city as a desirable business destination. By focusing on attracting new investments and supporting existing businesses, it plays a crucial role in the community's overall economic health.
In FY22, the organization invested in approximately 67 acres of land for future development projects, showcasing its commitment to facilitating long-term growth. Additionally, it facilitated the sale of about 10 acres of land for a new construction project, with support that includes financing options for the business owner. This particular project, valued at around $380,000, exemplifies how the organization actively assists entrepreneurs by providing tailored solutions to meet their needs.
Through these efforts, Carthage Economic Development Corp not only enhances the local business landscape but also fosters a robust environment for job creation and economic opportunities, reflecting its mission to benefit the city of Carthage, Texas.
This information is meant to be a general summary of Carthage Economic Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,070
- Gross Receipts: $781,390
Assets and Liabilities:
- Total Assets: $2,864,879
- Total Liabilities: $0
- Net Assets: $2,864,879
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Organization Details
Founding Year
1992
Phone
(903) 693-3868Principal Officer
Stephen K Williams
Main Address
P O BOX 400, CARTHAGE, TX, 75633
Website
www.carthagetexas.comNTEE Category
Code: S31 - Community improvement
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