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Heart of Texas Economic Development District Inc

EIN 27-0083125 · Waco, TX

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood89 out of 100GovernanceGood74 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE EXEMPT PURPOSE OF THE HEART OF TEXAS ECONOMIC DEVELOPMENT DISTRICT IS TO PROMOTE ECONOMIC GROWTH IN THE HEART OF TEXAS COUNCIL OF GOVERNMENTS REGION IN THE STATE OF TEXAS, TO INCREASE EMPLOYMENT OPPORTUNITIES FOR THE UNEMPLOYED AND UNDEREMPLOYED, TO ASSIST AND COORDINATE ECONOMIC DEVELOPMENT EFFORTS OF LOCAL GOVERNMENTS AND ORGANIZATIONS, TO DEVELOP A COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY FOR THE REGION, TO CONDUCT OTHER ACTIVITIES SUPPORTING THE REGION'S ECONOMIC DEVELOPMENT GOALS AND OBJECTIVES, AND TO EXERCISE ALL OTHER RIGHTS AND POWERS GRANTED TO THE CORPORATION PURSUANT TO THE TEXAS NON-PROFIT CORPORATION ACT.

Income
$616,006
Spending
$251,840
Spent on programs
60%
Reserves
24.4 months of spending
Largest source of income
government grants, 65%
Employees
0
Volunteers
24

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 89 out of 100. Higher than 73% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 24.4 months of spending.

  • Debt

    16 of 20

    It owes 22% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 59% of income.

  • Income trend

    15 of 15

    Income rose 43% on the year before.

  • Spending floor

    8 of 15

    60% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 74 out of 100. Higher than 46% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    23 of 23 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. PROVISION OF BUILDINGS - THE HEART OF TEXAS ECONOMIC DEVELOPMENT DISTRICT (HOTEDD) PROVIDES BUILDINGS TO THE HEART OF TEXAS COUNCIL OF GOVERNMENTS (HOTCOG), WHICH IS A REGIONAL GOVERNMENTAL UNIT, AND TO HEART OF TEXAS WORKFORCE DEVELOPMENT, A TAX-EXEMPT ORGANIZATION LOCATED IN THE HOTCOG REGION. THIS ALLOWS THESE ORGANIZATIONS TO FURTHER THEIR EXEMPT PURPOSES OF PROMOTING ECONOMIC GROWTH IN THE HOTCOG REGION AND INCREASING EMPLOYMENT OPPORTUNITIES FOR THE UNEMPLOYED AND UNDEREMPLOYED, WHICH FOLLOW DIRECTLY IN LINE WITH HOTEDD'S EXEMPT PURPOSE.
  2. $128,377 spent. PROVISION OF GRANTS - THE HEART OF TEXAS ECONOMIC DEVELOPMENT DISTRICT SERVES AS A PASS-THROUGH ENTITY FOR EDA GRANT FUNDS.
  3. $22,864 spent. PROVISION OF LOANS - THE REVOLVING LOAN PROGRAM IS A SOURCE OF FUNDING FOR BUSINESSES THAT ARE UNABLE TO OBTAIN CONVENTIONAL LOANS. LOAN PROGRAMS FOCUS ON SMALL AND EMERGING PRIVATE BUSINESS ENTERPRISES IN RURAL AREAS AND SMALL OR MICROENTERPRISE BUSINESS IN ELIGIBLE COMMUNITIES.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2004.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

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