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Nonprofit · EIN 75-0809311

FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC

Tax-exempt · MOUNT VERNON, TX 75457

Financials

$294K$36K2023$676K$3K2024
Revenue Expenses · by fiscal year end
Financials of FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$676,342$2,794$673,548$1,657,242$0$1,657,242
December 31, 2023990$294,217$35,942$258,275$983,694$0$983,694
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$4,300
Program service revenue
$0
Investment income
$672,042
Net gain from sales of assets
$641,171
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0

Balance sheet and other

Total assets, start of year
$983,694
Total assets, end of year
$1,657,242
Total liabilities, end of year
$0
Net assets, end of year
$1,657,242
Land, buildings and equipment
$923,296
Gross receipts
$719,171
Employees
0
Volunteers
0
Year formed
1951
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, 2024, highest compensation first.

NameTitleHours / weekCompensation
BOB MCFARLANDPRESIDENT
Trustee or director, Officer
0.3$0
LANDON RAMSAYVICE-PRESIDENT
Trustee or director, Officer
0.3$0
JEFF BYRNESTREASURER
Trustee or director, Officer
0.3$0
LEONARD LOWRYSECRETARY
Trustee or director, Officer
0.3$0
ROCIO MARTINEZEXEC DIRECTOR
Officer
0.3$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
BOB MCFARLANDPRESIDENT
Trustee or director, Officer
0.3$0
JACK CARLSONVICE-PRESIDENT
Trustee or director, Officer
0.3$0
JEFF BYRNESTREASURER
Trustee or director, Officer
0.3$0
LANDON RAMSAYSECRETARY
Trustee or director, Officer
0.3$0
ROCIO MARTINEZEXEC DIRECTOR
Officer
0.3$0

Address and contacts

Address (IRS master file)
PO BOX 1292, MOUNT VERNON, TX 75457-1292
Principal officer (990 for 2024)
JEFF BYRNES, 109 N KAUFMAN ST, MT VERNON, TX 75437
Signed the 990
JEFF BYRNES, TREASURER
Phone
(903) 537-2201
Return prepared by
PREUSS FLECKER & ASSOCIATES PLLC

Mission

PROMOTE BUSINESS AND ECONOMIC DEVELOPMENT IN FRANKLIN COUNTY, TEXAS.

990 for the year ended December 31, 2024

Program accomplishments

  • PROMOTE FRANKLIN COUNTY, TEXAS
    Expenses $2,794 · revenue $676,342

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
75-0809311
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1953
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,657,242
Income (IRS master file)
$719,171

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$676,342$2,794$1,657,242IRS
990December 2023$294,217$35,942$983,694XML
990December 2022$5,815$2,401$725,919IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 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 75-0809311).

Questions about FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC

What is the EIN of FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC?
The employer identification number (EIN) of FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC is 75-0809311.
Is FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1953.
Are donations to FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC 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 FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC?
The 990 for the year ended December 31, 2024 names JEFF BYRNES.
Who are the officers and directors of FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does FRANKLIN COUNTY INDUSTRIAL FOUNDATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $676,342, expenses of $2,794 and total assets of $1,657,242 at year end.

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