Nonprofit · EIN 75-1167985
BROWNWOOD INDUSTRIAL FOUNDATION INC
Tax-exempt · BROWNWOOD, TX 76804
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2026 | 990 | $38,902 | $31,182 | $7,720 | $1,311,227 | $20,000 | $1,291,227 |
| March 31, 2025 | 990 | $24,893 | $32,805 | -$7,912 | $1,303,507 | $20,000 | $1,283,507 |
| March 31, 2024 | 990 | $272,596 | $37,840 | $234,756 | $1,341,177 | $49,758 | $1,291,419 |
| March 31, 2022 | 990-EZ | $0 | – | – | $47,685 | – | $1,024,503 |
Financial details: 990 for the year ended March 31, 2026
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $38,358
- Net rental income
- $544
- Other revenue
- $544
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $9,925
- Program services (functional)
- $14,825
- Management and general (functional)
- $16,357
Balance sheet and other
- Total assets, start of year
- $1,303,507
- Total assets, end of year
- $1,311,227
- Total liabilities, end of year
- $20,000
- Net assets, end of year
- $1,291,227
- Land, buildings and equipment
- $43,735
- Net assets without donor restrictions
- $1,291,227
- Gross receipts
- $38,902
- Employees
- 0
- Volunteers
- 5
- Year formed
- 1959
- 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 March 31, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT PORTER | Director Trustee or director | 1 | $0 |
| JD JOHNSON | President Trustee or director, Officer | 1 | $0 |
| PAUL WALDROP | Director Trustee or director | 1 | $0 |
| ANGIE SHULTS | Treasurer Trustee or director, Officer | 1 | $0 |
| JASON JOHNSON | Vice President Trustee or director, Officer | 1 | $0 |
| JASON GRAY | Director Trustee or director | 1 | $0 |
990 for the year ended March 31, 2025: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT PORTER | Director Trustee or director | 1 | $0 |
| JD JOHNSON | President Trustee or director, Officer | 1 | $0 |
| PAUL WALDROP | Director Trustee or director | 1 | $0 |
| ANGIE SHULTS | Treasurer Trustee or director, Officer | 1 | $0 |
| JASON JOHNSON | Vice President Trustee or director, Officer | 1 | $0 |
| JASON GRAY | Director Trustee or director | 1 | $0 |
990 for the year ended March 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT PORTER | President Trustee or director, Officer | 1 | $0 |
| JD JOHNSON | Treasurer Trustee or director, Officer | 1 | $0 |
| CARTER SHARPE | Director Trustee or director | 1 | $0 |
| ANGIE SHULTS | Vice President Trustee or director, Officer | 1 | $0 |
| JASON JOHNSON | Secretary Trustee or director, Officer | 1 | $0 |
990-EZ for the year ended March 31, 2022: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROBERT PORTER | President | 1 | $0 |
| JOHN GUEST | Vice President | 1 | $0 |
| CARTER SHARPE | Treasurer | 1 | $0 |
| ANGIE SHULTS | Director | 1 | $0 |
| JASON JOHNSON | Director | 1 | $0 |
| TOM MUNSON | Director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 880, BROWNWOOD, TX 76804-0880
- Principal officer (990 for 2025)
- JD JOHNSON, PO BOX 880, BROWNWOOD, TX 76804
- Signed the 990
- JD JOHNSON, President
- Phone
- (325) 646-9535
- Return prepared by
- GAGE & COMPANY CPAS LLP
Mission
TO PROMOTE THE GROWTH OF TRADE AND INDUSTRY WITHIN AND IN THE VICINITY OF BROWN COUNTY, TEXAS AND TO ACQUIRE MONEY, LAND AND OTHER ASSETS FOR THAT PURPOSE.
Program accomplishments
- THE BROWNWOOD INDUSTRIAL FOUNDATION, INC. (BIFI) PROVIDED FUNDING FOR PROMOTION OF COMMERCIAL DEVELOPMENT IN THE AREA AND FOR MAKING INFORMATION AVAILABLE TO PROSPECTIVE BUSINESSES. FUNDING WAS MADE AVAIALABLE TO ASSIST IN THE EXPANSION OF LOCAL BUSINESS AND INDUSTRY. BIFI OWNS SEVERAL TRACTS OF LAND IN THE CITY'S INDUSTRIAL AREA THAT ARE SUITABLE AND AVAILABLE FOR DEVELOPMENT. AN EXISTING INDUSTRY LEASES AN INDUSTRIAL BUILDING WHICH WAS ORIGINALLY MADE AVAILABLE AS AN INCENTIVE FOR RELOCATION.
- BIFI IS AN INTERMEDIARY IN THE USDA RURAL DEVELOPMENT INTERMEDIARY RELENDING PROGRAM (IRP). THE PURPOSE OF THE PROGRAM IS TO ALLEVIATE POVERTY AND INCREASE ECONOMIC ACTIVITY AND EMPLOYMENT IN RURAL COMMUNITIES, THROUGH PARTNERSHIP WITH OTHER PUBLIC AND PRIVATE SOURCES, AND IN ACCORDANCE WITH STATE AND REGIONAL STRATEGY BASED ON IDENTIFIED COMMUNITY NEEDS, THIS IS ACCOMPLISHED BY RELENDING FUNDS BORROWED FROM USDA RURAL DEVELOPMENT TO LOCAL BUSINESSES. TOTAL LOANS OUTSTANDING AT YEAR END AMOUNT TO $81,100.
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | 990 on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 75-1167985
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1960
- Accounting year ends
- March
- Files
- Form 990-N (e-Postcard)
- Assets (IRS master file)
- $1,311,227
- Income (IRS master file)
- $38,902
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2026 | $38,902 | $31,182 | $1,311,227 | XML |
| 990 | March 2025 | $24,893 | $32,805 | $1,303,507 | IRS |
| 990 | March 2024 | $272,596 | $37,840 | $1,341,177 | XML |
| 990 | March 2023 | $50,390 | $38,118 | $1,180,569 | IRS |
| 990-EZ | March 2022 | $0 | – | $47,685 | XML |
| 990 | March 2021 | – | – | – | 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 75-1167985).
Questions about BROWNWOOD INDUSTRIAL FOUNDATION INC
- What is the EIN of BROWNWOOD INDUSTRIAL FOUNDATION INC?
- The employer identification number (EIN) of BROWNWOOD INDUSTRIAL FOUNDATION INC is 75-1167985.
- Is BROWNWOOD INDUSTRIAL FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1960.
- Are donations to BROWNWOOD INDUSTRIAL FOUNDATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BROWNWOOD INDUSTRIAL FOUNDATION INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of BROWNWOOD INDUSTRIAL FOUNDATION INC due?
- The return for tax year 2026 (the year ending March 31, 2027) is due August 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BROWNWOOD INDUSTRIAL FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2026.
- Who is the principal officer of BROWNWOOD INDUSTRIAL FOUNDATION INC?
- The 990 for the year ended March 31, 2026 names JD JOHNSON.
- Who are the officers and directors of BROWNWOOD INDUSTRIAL FOUNDATION INC?
- The 990 for the year ended March 31, 2026 lists 6 people; 0 received compensation from the organization.
- How much revenue does BROWNWOOD INDUSTRIAL FOUNDATION INC have?
- On its 990 for the year ended March 31, 2026 it reported revenue of $38,902, expenses of $31,182 and total assets of $1,311,227 at year end.
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