LAMPASAS ECONOMIC DEVELOPMENT CORPORATION

EIN: 742934571 501(c)(3) Recreation & Sports

LAMPASAS, TX

Total Revenue
$556,307
Total Expenses
$371,676
Total Assets
$4,447,622
Net Assets
$2,410,106
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
TX
Principal Officer
DEORALD FINNEY
Phone
5125566831
Tax Period
2024-10-01 to 2025-09-30

LAMPASAS ECONOMIC DEVELOPMENT CORPORATION, founded in 1998, is a small nonprofit in the Recreation & Sports sector that reported $556K in total revenue in fiscal year 2024. The organization ran a surplus of $185K, a strong 33% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE CITY AND STATE IN ORDER TO ELIMINATE UNEMPLOYMENT AND UNDEREMPLOYMENT AND TO PROMOTE AND ENCOURAGE EMPLOYMENT AND THE PUBLIC WELFARE OF, FOR, AND ON BEHALF OF THE CITY.

Program Service Accomplishments

Program 1
Expenses: $371,676 Revenue: $556,307

TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE CITY AND STATE IN ORDER TO ELIMINATE UNEMPLOYMENT AND UNDEREMPLOYMENT AND TO PROMOTE AND ENCOURAGE EMPLOYMENT AND THE PUBLIC WELFARE OF, FOR, AND ON BEHALF...

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TO PROMOTE ECONOMIC DEVELOPMENT WITHIN THE CITY AND STATE IN ORDER TO ELIMINATE UNEMPLOYMENT AND UNDEREMPLOYMENT AND TO PROMOTE AND ENCOURAGE EMPLOYMENT AND THE PUBLIC WELFARE OF, FOR, AND ON BEHALF OF THE CITY

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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 $0
Program Service Revenue $0
Investment Income $52,109
Other Revenue $504,198
TOTAL REVENUE $556,307

Expense Breakdown

Grants Paid $17,975
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $371,676
Other Expenses $353,701
TOTAL EXPENSES $371,676

Year-over-Year Comparison

2024 2023 Change
Revenue $556,307 $552,727 +0.0%
Expenses $371,676 $391,011 0.0%
Net Income $184,631 $161,716 +0.1%
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
7
Independent Members
N/A
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
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEORALD FINNEY PRESIDENT 2.00
Officer Director
$0 $0 $0
MICHAEL GILL SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
FIN ERWIN VICE PRESIDENT 2.50
Officer Director
$0 $0 $0
DERRICK DEWALD MEMBER 2.00
Director
$0 $0 $0
CHARLEY KENNINGTON MEMBER 2.00
Director
$0 $0 $0
TONJA GEBERT MEMBER 2.00
Director
$0 $0 $0
MICHAEL IRVIN MEMBER 2.00
Director
$0 $0 $0
BOBBY CARROLL EX OFFICIO 1.00
Director
$0 $0 $0
RANDY MORRIS EX-OFFICIO 1.00
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
2025 $556,307 $371,676 $4,447,622 $184,631
2024 $552,727 $391,011 $4,556,110 $161,716
2023 $534,327 $309,896 $4,511,159 $224,431
2022 $474,613 $241,107 $5,287,121 $233,506
2021 $526,647 $190,727 $2,728,330 $335,920
2020 $355,540 $329,320 $2,502,341 $26,220
2019 $328,807 $235,156 $2,586,355 $93,651
2018 $309,746 $221,086 $2,600,344 $88,660
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