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Nonprofiteer
← LAWRENCE COUNTY ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by LAWRENCE COUNTY ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$4,056,402
Total expenses
$671,398
Contributions and grants received
$216,144
Grants paid
$0
Program service revenue
$35,600
Investment income
$37,763
Other revenue
$3,766,895
Total assets, end of year
$12,133,077
Total liabilities, end of year
$7,108,297
Net assets or fund balances, end of year
$5,024,780
Program services expenses (Part IX)
$542,229
Management and general expenses
$129,169
Fundraising expenses
$0
Program service expenses (Part III)
$542,229

Program services were 80.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $16,144

  • 1f · All other contributions, gifts and grants

    $200,000

  • 2a · Program service revenue: Management Fees

    total $18,000 · related or exempt $18,000

  • 2b · Program service revenue: Bookkeeping Fees

    total $3,000 · related or exempt $3,000

  • 2c · Program service revenue: Program Admin Fees

    total $14,600 · related or exempt $14,600

  • 3 · Investment income

    total $37,763 · excluded $37,763

  • 5 · Royalties

    total $51,586 · related or exempt $51,586

  • 6a · Gross rents

    real property $343,309

  • 6c · Rental income or loss

    real property $343,309

  • 6d · Net rental income or loss

    total $343,309 · related or exempt $343,309

  • 11a · Other revenue: Revaluation Increase

    total $3,372,000 · related or exempt $3,372,000

  • 11e · Other revenue, total

    $3,372,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,569 · program services $11,569

  • 11b · Fees: legal

    total $44,221 · program services $35,377 · management and general $8,844

  • 11c · Fees: accounting

    total $7,500 · program services $6,000 · management and general $1,500

  • 13 · Office expenses

    total $76 · program services $61 · management and general $15

  • 16 · Occupancy

    total $55,897 · program services $44,717 · management and general $11,180

  • 20 · Interest

    total $73,000 · program services $58,400 · management and general $14,600

  • 23 · Insurance

    total $15,148 · program services $12,118 · management and general $3,030

  • 24a · Other expenses: Grounds Maintenance

    total $13,987 · program services $13,987

  • 24b · Other expenses: Contracted Services

    total $450,000 · program services $360,000 · management and general $90,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,483,875 · end of year $1,572,464

  • 4 · Accounts receivable

    beginning of year $245,536 · end of year $145,437

  • 7 · Other notes and loans receivable

    beginning of year $1,094,325 · end of year $1,232,564

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,078 · end of year $6,758

  • 10a · Land, buildings and equipment: cost or other basis

    $84,737

  • 10b · Land, buildings and equipment: accumulated depreciation

    $84,737

  • 13 · Investments: program-related

    beginning of year $6,036,226 · end of year $9,175,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $913,294 · end of year $983,129

  • 19 · Deferred revenue

    beginning of year $1,500 · end of year $1,500

  • 23 · Secured mortgages and notes payable

    beginning of year $6,291,345 · end of year $6,051,543

  • 25 · Other liabilities

    beginning of year $22,125 · end of year $72,125

  • 27 · Net assets without donor restrictions

    beginning of year $1,639,776 · end of year $5,024,780

Mission and programs · 2023

Mission

To transform lives by serving as a creative force that promotes excellence in leadership, coordination, and orderly business development

  • Advance our economy: Promote and enhance a vibrant, diverse, and sustainable economy and local quality of life, while positioning the county and surrounding region for long term success.

    Expenses $433,783 · Grants $16,144 · Revenue $36,500

  • Develop leaders & county-wide cooperation: Promote and enhance the skillsets needed to communicate effectively and overcome common challenges.

    Expenses $54,223

  • Develop a single actionable county-wide vision: Promote and enhance efforts designed to create a streamlined vision for Lawrence County that reduces deuplicate efforts

    Expenses $54,223

As filed on the 2023 return.

Listed in Part VII

  • Lisa Nentwick

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Loretta Spielvogel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jon Natale

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Justin Bruce

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Tom Giordano

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Zachary Lenhart

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Tomaszewski

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephen Vitale

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John Cournan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ethan Russell

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephen Sant

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Bruce

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kathy Richardson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Frank Moses

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Judy Shaffer

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Craig Bicehouse

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Eric Karmecy

    President

    Total calculated
    $0
    Hours/week
    2

  • Sam Huston

    Treasurer

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.1
Source object
202433079349300308

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