Organizations Filed Purposes:
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.
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 AVAILABLE TO ASSIST IN THE EXPANSION OF LOCAL BUSINESSES 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 AN EXISTING INDUSTRY LEASES AN INDUSTRIAL BUILDING WHICH WAS ORIGINALLY MADE AVAILABLE AS AN INCENTIVE FOR RELOCATION.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 IN 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 $626,231.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Tom Munson | Director | 1 | $0 |
| Jason Johnson | Director | 1 | $0 |
| Angie Shults | Director | 1 | $0 |
| Carter Sharpe | Treasurer | 1 | $0 |
| John Guest | Vice President | 1 | $0 |
| Robert Porter | President | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202141659349301014_public.xml