MIDTOWN IMPROVEMENT AND DEVELOPMENT CORP

EIN: 473549741 501(c)(3) Community Improvement

HOUSTON, TX

Total Revenue
$2,100,609
Total Expenses
$2,063,671
Total Assets
$908,803
Net Assets
$687,704
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
TX
Principal Officer
MATT THIBODEAUX
Phone
7135267577
Tax Period
2024-01-01 to 2024-12-31

MIDTOWN IMPROVEMENT AND DEVELOPMENT CORP, founded in 2013, is a community nonprofit in the Community Improvement sector that reported $2.1M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

AID AND ASSIST THE MIDTOWN REDEVELOPMENT AUTHORITY OF THE CITY OF HOUSTON, TEXAS WITH THE IMPLEMENTATION OF THE PROJECT PLAN FOR THE REINVESTMENT ZONE NUMBER TWO, CITY OF HOUSTON, TEXAS, AND THE MIDTOWN MANAGEMENT DISTRICT, A SPECIAL DISTRICT CREATED UNDER CHAPTER 3809, TEXAS SPECIAL DISTRICT LOCAL LAWS CODE, WITH THE PROMOTION, DEVELOPMENT, ENCOURAGEMENT AND MAINTENANCE OF EMPLOYMENT, COMMERCE, TRANSPORTATION, HOUSING, TOURISM, RECREATION, THE ARTS, ENTERTAINMENT, ECONOMIC DEVELOPMENT, SAFETY AND THE PUBLIC WELFARE IN THE MIDTOWN AREA OF THE CITY OF HOUSTON, TEXAS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,808,464
Program Service Revenue $0
Investment Income $10,775
Other Revenue $281,370
TOTAL REVENUE $2,100,609

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,866,921
Other Expenses $2,063,671
TOTAL EXPENSES $2,063,671

Year-over-Year Comparison

2024 2023 Change
Revenue $2,100,609 $1,796,196 +0.2%
Expenses $2,063,671 $2,713,540 -0.2%
Net Income $36,938 $-917,344 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM R FRANKS ACTING BOARD CHAIR 0.27
Officer Director
$0 $0 $0
MATT THIBODEAUX SECRETARY/TREASURER 0.27
Officer Director
$0 $0 $0
ABE S GOREN BOARD MEMBER 0.27
Director
$0 $0 $0
WILLIE T COLEMAN BOARD MEMBER 0.27
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,100,609 $2,063,671 $908,803 $36,938
2023 $1,796,196 $2,713,540 $984,306 $-917,344
2022 $1,901,505 $2,546,940 $1,172,846 $-645,435
2021 $1,453,477 $2,440,252 $1,186,080 $-986,775
2020 $895,250 $2,255,923 $1,472,168 $-1,360,673
2019 $1,419,771 $2,044,851 $2,183,088 $-625,080
2018 $1,276,193 $1,883,475 $2,613,104 $-607,282
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