Nonprofit · EIN 75-2768840
METROPLEX ECONOMIC DEVELOPMENT CORP
Also known as G E A R INC
Tax-exempt · DALLAS, TX 75236
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,784,748 | $5,418,872 | -$634,124 | $1,743,832 | $131,311 | $1,612,521 |
| December 31, 2023 | 990 | $3,285,083 | $3,404,535 | -$119,452 | $4,610,019 | $2,363,375 | $2,246,644 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,494,984
- Program service revenue
- $55,255
- Investment income
- $54,974
- Net rental income
- $179,535
- Other revenue
- $179,535
Expenses
- Grants and similar amounts paid
- $822,752
- Other salaries and wages
- $148,042
- Salaries, compensation and benefits (total)
- $180,562
- Professional fundraising fees
- $0
- Legal fees
- $6,158
- Accounting fees
- $155,990
- Occupancy
- $251,166
- Travel
- $218,698
- Depreciation
- $29,016
- Program services (functional)
- $5,229,140
- Management and general (functional)
- $159,732
- Fundraising (functional)
- $30,000
Balance sheet and other
- Total assets, start of year
- $4,610,019
- Total assets, end of year
- $1,743,832
- Total liabilities, end of year
- $131,311
- Net assets, end of year
- $1,612,521
- Land, buildings and equipment
- $154,390
- Net assets without donor restrictions
- $1,612,521
- Gross receipts
- $4,784,748
- Employees
- 12
- Volunteers
- 125
- Year formed
- 1998
- 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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DARWIN BRUCE | SECRETARY Trustee or director, Officer | 1 | $0 |
| FRANK DYER | PRESIDENT Trustee or director, Officer | 1 | $0 |
| MARK JONES | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TINA NAIDOO | TORI EXECUTIVE DIRECTOR Officer | 40 | $141,750 | $41,484 |
| KELLEY CORNISH | CEO Officer | 40 | $136,923 | $35,939 |
| DARWIN BRUCE | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| FRANK DYER | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MARK JONES | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3635 DAN MORTON DR, DALLAS, TX 75236-1072
- Principal officer (990 for 2024)
- FRANK DYER, 3635 DAN MORTON DRIVE, DALLAS, TX 75236
- Signed the 990
- FRANK DYER, PRESIDENT
- Phone
- (214) 333-6468
- Website
- WWW.MEDC-DALLAS.ORG
- Return prepared by
- CRI ADVISORS LLC
Mission
TO ALLEVIATE POVERTY AND ITS EFFECTS ON THE LOCAL COMMUNITY AND TO PROVIDE EDUCATION. THE ORGANIZATION OPERATES AS A LOCAL ECONOMIC DEVELOPMENT CORPORATION, PROVIDING FUNDING TO LOCAL BUSINESSES, JOB TRAINING & EDUCATION, BUSINESS COUNSELING, COMMUNITY SERVICES, AND SIMILAR ACTIVITIES TO RELIEVE POVERTY IN ECONOMICALLY DEPRESSED AREAS.
Program accomplishments
- TEXAS OFFENDERS RE-ENTRY INITIATIVE (TORI): TO AIDE AND ASSIST EX-OFFENDERS IN TRANSITIONING BACK INTO SOCIETY BY PROVIDING EMPLOYMENT TRAINING, COUNSELING AND PLACEMENT SERVICES AS WELL AS TRANSITIONAL HOUSING.Expenses $276,494 · grants $44,000
- ECONOMIC DEVELOPMENT: BUSINESS NETWORK, CONFERENCES, AND PROJECTS THAT FACILITATE BUSINESS AND ECONOMIC GROWTH, JOB TRAINING AND EDUCATION, AND COMBAT COMMUNITY DETERIORATION.Expenses $186,325 · grants $138,600 · revenue $234,790
- GOOD SOIL: PROJECT MISSION IS TO INCREASE GENERATIONAL WEALTH AND EMPLOYMENT BY SUPPORTING AND NURTURING UNDER-RESOURCED ENTREPRENEURS.Expenses $4,766,321 · grants $640,152
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 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 75-2768840
- 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
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $1,743,832
- Income (IRS master file)
- $4,784,748
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,784,748 | $5,418,872 | $1,743,832 | XML |
| 990 | December 2023 | $3,285,083 | $3,404,535 | $4,610,019 | XML |
| 990 | December 2022 | $850,303 | $1,292,644 | $2,466,015 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about METROPLEX ECONOMIC DEVELOPMENT CORP
- What is the EIN of METROPLEX ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of METROPLEX ECONOMIC DEVELOPMENT CORP is 75-2768840.
- Is METROPLEX ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to METROPLEX ECONOMIC DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does METROPLEX ECONOMIC DEVELOPMENT CORP 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 METROPLEX ECONOMIC DEVELOPMENT CORP 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 METROPLEX ECONOMIC DEVELOPMENT CORP 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 METROPLEX ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names FRANK DYER.
- Who are the officers and directors of METROPLEX ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does METROPLEX ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,784,748, expenses of $5,418,872 and total assets of $1,743,832 at year end.
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All nonprofits in DALLAS · Texas · Community improvement and capacity building