MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION (EIN 75-2621353)
- Tax period
- 2019-10-01 to 2020-09-30
- Filed
- 2021-07-29
- IRS object ID
- 202132109349301003
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-07-29T09:53:20-05:00 | ReturnTs |
| Tax Period End | 2020-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750882037 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 NASHVILLE AVENUE | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79423 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 752621353 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARKET LUBBOCK ECONOMIC DEVELOPMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MARK | BusinessNameControlTxt |
| Phone | 8067494500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 BROADWAY NO 600 | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JANA JOHNSTON | PersonNm |
| Person Title | CFO/COO | PersonTitleTxt |
| Phone | 8067494500 | PhoneNum |
| Signature | 2021-07-21 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MATT R WILLIS | PreparerPersonNm |
| PTIN | P00419741 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2021-07-21 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | JOHN OSBORNE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 BROADWAY NO 600 | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,919,339 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VISITLUBBOCK.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1995 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO ENHANCE AND ENCOURAGE ECONOMIC DEVELOPMENT AND JOB CREATION AND FACILITATE THE DEVELOPMENT OF NEW INDUSTRIES. MANAGE AND OVERSEE THE OPERATIONS OF VISIT LUBBOCK AND FOREIGN TRADE ZONE 260. VISIT LUBBOCK ENCOMPASSES THE OPERATIONS OF THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 27 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $7,833,865 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,805,663 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $48,926 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $18,402 | CYProgramServiceRevenueAmt |
| PY Investment Income | $205,757 | PYInvestmentIncomeAmt |
| CY Investment Income | $95,274 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $8,088,548 | PYTotalRevenueAmt |
| CY Total Revenue | $6,919,339 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,702,506 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,167,438 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,519,057 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,390,975 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,809,393 | PYOtherExpensesAmt |
| CY Other Expenses | $3,688,451 | CYOtherExpensesAmt |
| PY Total Expenses | $6,030,956 | PYTotalExpensesAmt |
| CY Total Expenses | $7,246,864 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,057,592 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$327,525 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $10,656,956 | TotalAssetsBOYAmt |
| Total Assets EOY | $5,553,218 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,675,535 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $899,322 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,981,421 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,653,896 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO ENHANCE AND ENCOURAGE ECONOMIC DEVELOPMENT AND JOB CREATION AND FACILITATE THE DEVELOPMENT OF NEW INDUSTRIES. MANAGE AND OVERSEE THE OPERATIONS OF VISIT LUBBOCK AND FOREIGN TRADE ZONE 260. VISIT LUBBOCK ENCOMPASSES THE OPERATIONS OF THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,990,390 | ExpenseAmt |
| Grant | $2,167,438 | GrantAmt |
| Revenue | $18,402 | RevenueAmt |
| Desc | IN 2019-2020 MARKET LUBBOCK, INC. CONTINUED TO WORK WITH THE CITY OF LUBBOCK TO STRENGTHEN AND ENCOURAGE BUSINESS INVESTMENT IN DOWNTOWN LUBBOCK THROUGH A REIMBUSEMENT GRANT PROGRAM. THE CITY OF LUBBOCK AND MARKET LUBBOCK, INC. WORKED TOGETHER TO COMPLETE MAJOR UPGRADES TO THE BERL HUFFMAN ATHLETIC COMPLEX, INCLUDING A 9 ACRE ARTIFICIAL TURF COMPLEX. SUCH IMPROVEMENTS PROVIDE OPPORTUNITIES FOR MORE EVENTS TO BE HOSTED IN LUBBOCK, ADDING TO THE ECONOMIC STRENGTH OF THE COMMUNITY, AS WELL AS PROVIDE ENHANCED QUALITY OF LIFE FACILITIES FOR LUBBOCK CITIZENS. IN SPITE OF THE RESTRICTIONS OF THE GLOBAL PANDEMIC VISIT LUBBOCK, THROUGH THE CONVENTION AND VISITORS BUREAU AND LUBBOCK SPORTS, WORKED TO CONTRACT WITH MEETING PLANNERS, CONVENTION ORGANIZERS AND SPORTS EVENTS ORGANIZERS TO BRING CONVENTIONS AND EVENTS TO LUBBOCK THAT HELP TO CURB THE IMPACT OF COVID-19 TO THE LOCAL HOTELS, RESTAURANTS, ATTRACTIONS AND SHOP. MARKET LUBBOCK, WITH THE ASSISTANCE OF LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE AND SOUTH PLAINS ASSOCIATION OF GOVERNMENTS WAS ABLE TO DIVERT $1 MILLION OF OUR BUDGET TO A SUPPORT LUBBOCK FUND. TOGETHER THESE ENTITIES WERE ABLE TO PROVIDE EMERGENCY FUNDS TO 29 BUSINESSES FORGIVEABLE LOANS BETWEEN $20,000 AND $60,000 TO KEEP THEIR BUSINESSES OPEN. | Desc |
| Total Program Service Expenses | $5,990,390 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 17 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 27 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JANA JOHNSTON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8067494500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 BROADWAY SUITE 600 | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| JOHN OSBORNE | ||||||||
| CEO | 20.00 | 20.00 | Yes (X) | $0 | $354,841 | $43,629 | ||
| JANA JOHNSTON | ||||||||
| CFO/COO | 20.00 | 20.00 | Yes (X) | $0 | $175,455 | $21,010 | ||
| KENNY MCKAY | ||||||||
| VICE PRESIDENT | 20.00 | 20.00 | Yes (X) | $0 | $159,709 | $25,419 | ||
| CAROLYN ROWLEY | ||||||||
| DIRECTOR OF RECRUITMENT | 20.00 | 20.00 | $0 | $123,957 | $19,414 | Yes (X) | ||
| TONYA CHRISTINE ALLEN | ||||||||
| DIRECTOR OF WORKFORCE DEV | 20.00 | 20.00 | $0 | $112,963 | $28,844 | Yes (X) | ||
| KRISTIE CAVINESS | ||||||||
| DIRECTOR OF MARKETING & COMMUNICATION | 20.00 | 20.00 | $0 | $104,589 | $18,892 | Yes (X) | ||
| BARRY ORR | ||||||||
| CHAIRMAN | 2.00 | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| MARK GRIFFIN | ||||||||
| VICE CHAIRMAN | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| REGINA JOHNSTON | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| SUZANN KIRBY | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| JOHN OPPERMAN | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| MATTHEW BUMSTEAD | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CALVIN DAVIS | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| KRISTIN MURRAY | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| BRETT CATE | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CHRIS CARPENTER | ||||||||
| DIRECTOR | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,031,514 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $157,208 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| HELLAS CONSTRUCTION INC | |||||
| 12710 RESEARCH | AUSTIN | TX | 78759 | CONSTRUCTION SERVICES | $4,618,413 |
| LONE STAR DIRT & PAVING | |||||
| 11820 UNIVERSITY AVE | LUBBOCK | TX | 79423 | CONSTRUCTION SERVICES | $380,041 |
| AJR MEDIA GROUP | |||||
| 25132 OAKHURST | SPRING | TX | 77386 | ADVERTISING/MARKETING | $210,656 |
| MADDEN MEDIA | |||||
| 345 EAST TOOLE AVE | TUCSON | AZ | 85701 | ADVERTISING/MARKETING | $149,600 |
| PARKHILL SMITH & COOPER INC | |||||
| 4222 85TH STREET | LUBBOCK | TX | 79423 | ENGINEERING | $138,562 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 6 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $6,795,452 | GovernmentGrantsAmt |
| All Other Contributions | $10,211 | AllOtherContributionsAmt |
| Total Contributions | $6,805,663 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TICKET SALES | 711300 | $17,321 | $17,321 |
| PROMOTIONAL ITEMS | 711300 | $1,081 | $1,081 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $18,402 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $95,274 | TotalRevenueColumnAmt |
| Exclusion | $95,274 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,919,339 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $18,402 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $95,274 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,145,387 | TotalAmt |
| Program Services | $2,145,387 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,051 | TotalAmt |
| Program Services | $22,051 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,138,045 | TotalAmt |
| Program Services | $853,534 | ProgramServicesAmt |
| Management And General | $284,511 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,688 | TotalAmt |
| Program Services | $37,266 | ProgramServicesAmt |
| Management And General | $12,422 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $144,619 | TotalAmt |
| Program Services | $108,464 | ProgramServicesAmt |
| Management And General | $36,155 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,623 | TotalAmt |
| Program Services | $43,967 | ProgramServicesAmt |
| Management And General | $14,656 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,841 | TotalAmt |
| Program Services | $5,881 | ProgramServicesAmt |
| Management And General | $1,960 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,537 | TotalAmt |
| Program Services | $22,153 | ProgramServicesAmt |
| Management And General | $7,384 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,551 | TotalAmt |
| Program Services | $1,163 | ProgramServicesAmt |
| Management And General | $388 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,305,917 | TotalAmt |
| Program Services | $979,438 | ProgramServicesAmt |
| Management And General | $326,479 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,587 | TotalAmt |
| Program Services | $28,190 | ProgramServicesAmt |
| Management And General | $9,397 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,687 | TotalAmt |
| Program Services | $146,015 | ProgramServicesAmt |
| Management And General | $48,672 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $106,084 | TotalAmt |
| Program Services | $79,563 | ProgramServicesAmt |
| Management And General | $26,521 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $623 | TotalAmt |
| Program Services | $467 | ProgramServicesAmt |
| Management And General | $156 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $216,452 | TotalAmt |
| Program Services | $162,339 | ProgramServicesAmt |
| Management And General | $54,113 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,531 | TotalAmt |
| Program Services | $53,531 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,061 | TotalAmt |
| Program Services | $9,046 | ProgramServicesAmt |
| Management And General | $3,015 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| SPORTING EVENTS | $1,409,200 | $1,056,900 | $352,300 |
| INCENTIVES AND SPECIAL | $251,287 | $188,465 | $62,822 |
| MISCELLANEOUS | $62,093 | $46,570 | $15,523 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,246,864 | TotalAmt |
| Program Services | $5,990,390 | ProgramServicesAmt |
| Management And General | $1,256,474 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,601,805 | BOYAmt |
| EOY | $2,673,018 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $882,320 | BOYAmt |
| EOY | $1,703,799 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,056,244 | BOYAmt |
| EOY | $1,080,541 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,094 | BOYAmt |
| EOY | $68,915 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $449,047 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $422,102 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,493 | BOYAmt |
| EOY | $26,945 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,656,956 | BOYAmt |
| EOY | $5,553,218 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $366,362 | BOYAmt |
| EOY | $115,949 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,309,173 | BOYAmt |
| EOY | $783,373 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,675,535 | BOYAmt |
| EOY | $899,322 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,981,421 | BOYAmt |
| EOY | $4,653,896 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,981,421 | BOYAmt |
| EOY | $4,653,896 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,656,956 | BOYAmt |
| EOY | $5,553,218 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$327,525 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $30,901 | OtherCostOrOtherBasisAmt |
| Depreciation | $30,901 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $418,146 | OtherCostOrOtherBasisAmt |
| Depreciation | $391,201 | DepreciationAmt |
| Book Value | $26,945 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $26,945 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | MLI IS A NONPROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE (IRC) OF 1986, AS AMENDED. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING BASIC FINANCIAL STATEMENTS. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ARE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. AS OF SEPTEMBER 30, 2020 MANAGEMENT HAS ANALYZED ITS TAX POSITIONS AND BELIEVES THAT ALL ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. MLI'S TAX RETURNS GENERALLY REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE DATE OF FILING. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (20 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| 2 DOCS BREWING | |||||||
| 10707 KLINE AVENUE | LUBBOCK | TX | 79424 | 822547547 | N/A | $25,000 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| 1500 BROADWAY PARTNERS | |||||||
| 1500 BROADWAY PARTNERS 14TH FLOOR | LUBBOCK | TX | 79401 | 202049002 | N/A | $78,953 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| 1602 TEXAS AVE LLC | |||||||
| 1602 TEXAS AVENUE | LUBBOCK | TX | 79401 | 464670926 | N/A | $14,328 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| BAYER CROPSCIENCE LP- NOW BASF | |||||||
| 2 TW ALEXANDER DRIVE | RESEARCH TRIANGLE PARK | NC | 27709 | 562164873 | N/A | $50,000 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| CITY OF LUBBOCK | |||||||
| 1208 14TH STREET | LUBBOCK | TX | 79401 | 756005906 | GOV'T ENTITY | $79,576 | TO ASSIST WITH DOWNTOWN SAFETY PATROLS AND DOWNTOWN WEBSITE DEVELOPMENT. |
| HART CHESNUTT LLC | |||||||
| 2017 BROADWAY | LUBBOCK | TX | 79401 | 831228823 | N/A | $9,000 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| KYRA K BLANKENSHIP PC | |||||||
| 913 TEXAS AVE | LUBBOCK | TX | 79401 | 203217973 | N/A | $24,965 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| LUBBOCK CULTURAL ARTS FOUNDATION | |||||||
| 1500 BROADWAY SUITE 600 | LUBBOCK | TX | 79401 | 208957025 | 501(C)(3) | $75,000 | TO ASSIST WITH THE DEVELOPMENT OF A CULTURAL ARTS FOUNDATION TO PROMOTE LUBBOCK ARTS AND ARTISTS IN TEXAS AND ACROSS THE COUNTRY. |
| LUBBOCK SYMPHONY ORCHESTRA | |||||||
| 601 AVENUE K | LUBBOCK | TX | 79401 | 756001993 | 501(C)(3) | $25,000 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| MCCOURT PLACE LC | |||||||
| 4805 21ST STREET | LUBBOCK | TX | 79407 | 752562311 | N/A | $10,080 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| PAT KELLY PROPERTIES INC | |||||||
| 1105 MAIN STREET | LUBBOCK | TX | 79401 | 261536717 | N/A | $39,877 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| Q-505 LLC | |||||||
| 119 S IRVING | SAN ANGELO | TX | 76903 | 461302774 | N/A | $125,000 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| RALDSO DEVELOPMENT LLC | |||||||
| 1520 BUDDY HOLLY AVENUE | LUBBOCK | TX | 79401 | 823302594 | N/A | $5,375 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| SALLY BLAIR LLC | |||||||
| 1320 19TH ST | LUBBOCK | TX | 79401 | 475058410 | N/A | $9,281 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| SOUTH PLAINS ASSOCIATION OF GOVERNMENTS | |||||||
| 1323 58TH STREET | LUBBOCK | TX | 79412 | 751285200 | GOV'T ENTITY | $1,000,000 | TO ASSIST WITH RELIEF TO BUSINESSES NEGATIVELY IMPACTED BY COVID-19. |
| TAKE 5 PROPERTIES SPV LLC | |||||||
| 440 S CHURCH STREET SUITE 700 | CHARLOTTE | NC | 28202 | 721128185 | N/A | $75,136 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| TEXAS TECH UNIVERSITY | |||||||
| PO BOX 41010 | LUBBOCK | TX | 794091010 | 756000590 | 501(C)(3) | $400,000 | TO HELP FUND THE SCHOOL'S INNOVATION AND RESEARCH PARK. |
| TEXAS TECH UNIVERSITY HEALTH SCIENCE CENTER | |||||||
| 3601 4TH STREET STOP 6238 | LUBBOCK | TX | 79430 | 752668014 | 501(C)(3) | $5,000 | TO ASSIST WITH THE PRODUCTION AND DISTRIBUTION OF COVID-19 SAFETY PRODUCTS. |
| THERESA BARRETT FINE ARTS PHOTOGRAPHY | |||||||
| 1812 TEXAS AVENUE | LUBBOCK | TX | 79401 | 842628008 | N/A | $9,250 | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. |
| WORKFORCE SOLUTIONS OF THE SOUTH PLAINS | |||||||
| 1500 BROADWAY SUITE 900 | LUBBOCK | TX | 79401 | 752677494 | 501(C)(3) | $25,000 | TO ASSIST WITH CAREER COUNSELING, JOB SEARCH ASSISTANCE, CAREER AND SUPPORT SERVICES AND JOB TRAINING. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 7 | Total501c3OrgCnt |
| Total Other Org | 14 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | ECONOMIC DEVELOPMENT | GrantTypeTxt |
| Recipient | 1 | RecipientCnt |
| Cash Grant | $22,051 | CashGrantAmt |
| Non Cash Assistance | TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | GRANTS FOR JOB CREATION ARE NOT PAID UNTIL AFTER THE JOBS HAVE BEEN CREATED. CAPITAL INVESTMENT GRANTS ARE NOT PAID UNTIL AFTER THE ASSET IS COMPLETED AND A CERTIFICATE OF OCCUPANCY HAS BEEN AQUIRED. INDEPENDENT ACCOUNTANTS VERIFY THAT ALL OF THE REQUIREMENTS OF THE GRANT HAVE BEEN MET AND REPORT BACK TO MLI ON THEIR FINDINGS BEFORE ANY FUNDS ARE DISBURSED. DOWNTOWN AND EAST LUBBOCK GRANTS ARE REIMBURSEMENT GRANTS AND ARE PAID AFTER THE GRANTEE HAS SUBMITTED COPIES OF INVOICES AND PROOF OF PAYMENT. ALL SUBMITTED INVOICES AND PROOF OF PAYMENT DOCUMENTATION IS VERIFIED BY THE DIRECTOR OF DOWNTOWN DEVELOPMENT AND THE ACCOUNTING DEPARTMENT. GRANTS TO TEXAS TECH AND THE CITY OF LUBBOCK ARE PAID ACCORDING TO CONTRACT AND ONLY AFTER VERIFICATION THAT THE TERMS OF THE CONTRACT HAVE BEEN MET. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN OSBORNE | ||||||||||||||
| CEO | $0 | $289,862 | $0 | $50,579 | $0 | $14,400 | $0 | $13,750 | $0 | $29,879 | $0 | $398,470 | $0 | $0 |
| JANA JOHNSTON | ||||||||||||||
| CFO/COO | $0 | $153,563 | $0 | $21,892 | $0 | $0 | $0 | $8,965 | $0 | $12,045 | $0 | $196,465 | $0 | $0 |
| KENNY MCKAY | ||||||||||||||
| VICE PRESIDENT | $0 | $131,557 | $0 | $19,152 | $0 | $9,000 | $0 | $7,975 | $0 | $17,444 | $0 | $185,128 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | THE PAYMENT OF COUNTRY CLUB DUES IS ADDRESSED IN THE EMPLOYMENT CONTRACT OF THE CEO. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | MARKET LUBBOCK ECONOMIC DEVELOPMENT CORP "MARKET LUBBOCK" HAS A MANAGMENT AGREEMENT WITH LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE FOR THE OFFICER EMPLOYEES OF THAT ORGANIZATION TO MANAGE THE DAY TO DAY OPERATIONS OF MARKET LUBBOCK. MARKET LUBBOCK CORP AND LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE ARE RELATED ORGANIZATIONS CREATED BY THE CITY OF LUBBOCK TO FACILITATE ECONOMIC DEVELOPMENT. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE REVIEW OF THE FORM 990 WAS PERFORMED BY THE BOARD DURING THE BOARD MEETING IMMEDIATELY PRECEDING THE FILING OF THE FORM 990. THE PRESENTATION OF THE FORM 990 REVIEW WAS MADE BY CFO/COO JANA JOHNSTON. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO THE BOARD OF DIRECTORS AT THE FIRST MEETING OF THE YEAR. IT HAS A SIGNATURE LINE ON THE BOTTOM OF THE FORM FOR THE DIRECTOR TO SIGN AND DATE INDICATING THAT THEY HAVE READ AND AGREE TO THE POLICY. AS A PART OF THE PROCEDURE THERE IS AN ACCOMPANYING CONFLICT OF INTEREST QUESTIONNAIRE ON WHICH THE BOARD MEMBERS LIST ANY POTENTIAL CONFLICTS. BOTH DOCUMENTS ARE COLLECTED AND MAINTAINED BY THE CFO OF LEDA AND ARE UPDATED EACH YEAR. FINALLY, THE POLICY PROVIDES THAT A BOARD MEMBER MAY NOTIFY THE CHAIRMAN OF THE BOARD WHEN HE/SHE BECOMES AWARE OF A POTENTIAL CONFLICT DURING THE COURSE OF THE YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15 | OFFICER AND KEY EMPLOYEE SALARIES ARE REVIEWED ANNUALLY AND RECOMMENDATIONS ARE MADE BY THE AUDIT AND COMPLIANCE COMMITTEE AND MANAGEMENT TO ADJUST COMPENSATION LEVELS BASED ON COMPENSATION SURVEYS, INFLATION AND MERIT. THE COMPENSATION SURVEY USED IN DETERMINING RECOMMENDED SALARY ADJUSTMENTS IS BASED ON INDUSTRY DATA REFLECTED IN THE ANNUAL DMAI SALARY SURVEY OF DESTINATION MARKETING PROFESSIONALS WHICH IS PUBLISHED BY THE DESTINATION MARKETING ASSOCIATION INTERNATIONAL (DMAI). THIS STUDY PROVIDES SALARIES FOR THE VARIOUS POSITIONS WITHIN THE INDUSTRY AND IS SORTED ACCORDING TO ORGANIZATIONAL SIZE AND GEOGRAPHIC REGION. IN ADDITION TO THE PROCESS USED ANNUALLY, THE BOARD CONTINUED TO USE THE 2019 COMPENSATION AND BENEFIT STUDY THAT PROVIDED INDUSTRY SPECIFIC COMPARISONS OF ALL POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING AT THE ORGANIZATION'S OFFICE AT 1500 BROADWAY ST, STE 600; LUBBOCK, TX. |
| FORM 990, PAGE 12, PART XII, LINE 2C | THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE | ||||||||||
| 1500 BROADWAY STE 600 | LUBBOCK | TX | 79401 | 900183669 | ECONOMIC DEVELOPMENT | TX | 501(C)(4) | N/A | CITY OF LUBBOCK | 0 |
| LUBBOCK EXPERIENCE INC | ||||||||||
| 1500 BROADWAY STE 600 | LUBBOCK | TX | 79401 | 208957025 | ECONOMIC DEVELOPMENT | TX | 501(C)(3) | LINE 7 | CITY OF LUBBOCK | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | O | TransactionTypeTxt |
| Involved | $354,451 | InvolvedAmt |
| Method Of Amount Determination | COST PER BOOKS | MethodOfAmountDeterminationTxt |
Comments