Nonprofit · EIN 27-0925328
ALTO ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · ALTO, TX 75925
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $125,256 | $77,761 | $47,495 | $505,804 | $1,921 | $503,883 |
| December 31, 2024 | 990-EZ | $114,550 | $85,500 | $29,050 | $458,486 | $2,097 | $456,389 |
| December 31, 2023 | 990-EZ | $105,658 | $67,223 | $38,435 | $409,055 | $2,676 | $406,379 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $110,701
- of which government grants
- $108,201
- Program service revenue
- $0
- Investment income
- $6,053
- Other revenue
- $8,502
Expenses
- Grants and similar amounts paid
- $4,500
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $36,660
- Salaries, compensation and benefits (total)
- $39,464
- Professional fundraising fees
- $0
- Accounting fees
- $4,888
- Occupancy
- $7,532
- Depreciation
- $12,468
- Program services (functional)
- $70,363
- Management and general (functional)
- $7,398
Balance sheet and other
- Total assets, start of year
- $458,486
- Total assets, end of year
- $505,804
- Total liabilities, end of year
- $1,921
- Net assets, end of year
- $503,883
- Land, buildings and equipment
- $236,795
- Net assets without donor restrictions
- $503,883
- Gross receipts
- $125,256
- Employees
- 1
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHI DAVIS | EXECUTIVE DIRECTOR | 30 | $36,660 |
| CAREY PALMER | President Trustee or director | 0 | $0 |
| CODY ALLEN | Director Trustee or director | 0 | $0 |
| DWAYNE KING | Director Trustee or director | 0 | $0 |
| LARRY GRIFFITH | Vice President Trustee or director | 0 | $0 |
| RON ROSE | Director Trustee or director | 0 | $0 |
| MARY MITCHELL | Director Trustee or director | 0 | $0 |
| KENNETH HICKS | Director Trustee or director | 0 | $0 |
990-EZ for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CAREY PALMER | President | 0 | $0 |
| CODY ALLEN | Director | 0 | $0 |
| DWAYNE KING | Director | 0 | $0 |
| LARRY GRIFFITH | Vice President | 0 | $0 |
| RON ROSE | Director | 0 | $0 |
| MARY MITCHELL | Director | 0 | $0 |
| KENNETH HICKS | Director | 0 | $0 |
990-EZ for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CAREY PALMER | President | 0 | $0 |
| CODY ALLEN | Director | 0 | $0 |
| DWAYNE KING | Director | 0 | $0 |
| LARRY GRIFFITH | Secretary | 0 | $0 |
| RON ROSE | Director | 0 | $0 |
| MARY MITCHELL | Director | 0 | $0 |
| KENNETH HICKS | Director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 7, ALTO, TX 75925-0007
- In care of
- % CAREY PALMER
- Signed the 990
- CAREY PALMER, President
- Phone
- (936) 858-4412
- Return prepared by
- Anita Woodlee-Roach & Associates PC
Mission
TO PROMOTE BUSINESS EXPANSION IN THE ALTO AREA THAT BUILDS A STRONGER, MORE DIVERSIFIED ECONOMY AND INCREASES THE ECONOMIC VITALITY AND WEALTH OF THE COMMUNITY.
Program accomplishments
- TO PROMOTE BUSINESS EXPANSION IN THE ALTO AREA THAT BUILDS A STRONGER, MORE DIVERSIFIED ECONOMY AND INCREASES THE ECONOMIC VITALITY AND WEALTH OF THE COMMUNITY.Expenses $70,363
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 27-0925328
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $505,804
- Income (IRS master file)
- $125,256
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $125,256 | $77,761 | $505,804 | XML |
| 990-EZ | December 2024 | $114,550 | $85,500 | $458,486 | IRS |
| 990-EZ | December 2023 | $105,658 | $67,223 | $409,055 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-0925328).
Questions about ALTO ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of ALTO ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of ALTO ECONOMIC DEVELOPMENT CORPORATION is 27-0925328.
- Is ALTO ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to ALTO ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ALTO ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ALTO ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ALTO ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who are the officers and directors of ALTO ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 8 people; 1 received compensation from the organization, the highest $36,660 (KATHI DAVIS, EXECUTIVE DIRECTOR).
- How much revenue does ALTO ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $125,256, expenses of $77,761 and total assets of $505,804 at year end.
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All nonprofits in ALTO · Texas · Community improvement and capacity building