WHARTON ECONOMIC DEVELOPMENT CORP

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

COURTLAND HOLMAN

Phone

9795320999

Tax Period

2023-10-01 to 2024-09-30

WHARTON ECONOMIC DEVELOPMENT CORP, founded in 2000, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2023. The organization ran a surplus of $521K, a strong 47% operating margin.

Mission

TO DEVELOP A POSITIVE CLIMATE FOR BUSINESSES AND INDUSTRIAL GROWTH AND INVESTMENT; ASSIST IN THE CREATION OF JOBS; INCREASE THE TAX BASE OF THE VARIOUS TAXING ENTITIES; DIVERSIFY THE LOCAL ECONOMY TO MAKE IT MORE IMPERVIOUS TO STATE AND NATIONAL ECONOMIC RECESSION; AND MAKE PLANS AND TAKE NECESSARY ACTIONS TO INSURE THAT ALL NECESSARY INFRASTRUCTURE IS IN PLACE TO ALLOW FOR PROPER DEVELOPMENT OF WHARTON, TEXAS.

Program Service Accomplishments

Program 1

Revenue: $1,044,601

ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE...

ECONOMIC DEVELOPMENT PROGRAMS BENEFIT THE APPROXIMATELY 9,500 RESIDENTS OF WHARTON, TEXAS. THEY PRESERVE, PROTECT, ENHANCE, AND ENCOURAGE ACTIVITY IN THE EXISTING BUILDINGS IN DOWNTOWN AND ON THE GATEWAYS OF WHARTON, TEXAS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,044,601

Investment Income $68,053

Other Revenue $0

TOTAL REVENUE $1,112,654

Expense Breakdown

Grants Paid $0

Salaries & Benefits $212,601

Fundraising Expenses $0

Program Expenses $195,839

Other Expenses $378,847

TOTAL EXPENSES $591,448

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,112,654	$1,067,207	+0.0%
Expenses	$591,448	$1,043,047	-0.4%
Net Income	$521,206	$24,160	+20.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

$104,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSHUA OWENS	FORMER EXEC	40.00	Director	$104,000	$0	$104,000
ANDREW ARMOUR	SECRETARY	N/A	Director	$0	$0	$0
ALICE HEARD-ROBERTS	MEMBER	N/A	Director	$0	$0	$0
COURTLAND HOLMAN	EXECUTIVE DI	N/A	Director	$0	$0	$0
RUSSELL MACHANN	MEMBER	N/A	Director	$0	$0	$0
FREDDIE PEKAR	PRESIDENT	N/A	Director	$0	$0	$0
LARRY PITTMAN	MEMBER	N/A	Director	$0	$0	$0
MICHAEL ROBERSON	TREASURER	N/A	Director	$0	$0	$0
MICHAEL WOOTTON	VICE PRESIDE	N/A	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	No data	No data	No data	No data
2024	$1,112,654	$591,448	$2,196,289	$521,206
2023	$1,067,207	$1,043,047	$1,797,736	$24,160
2022	$922,716	$10,242,158	$1,922,038	$-9,319,442
2021	$753,236	$706,807	$2,147,454	$46,429
2020	$994,405	$758,481	$2,090,075	$235,924
2019	$1,416,540	$726,412	$1,896,273	$690,128
2018	$821,660	$896,098	$1,259,678	$-74,438