Form 990 for tax year 2023
Filed by ECONOMIC DEVELOPMENT CORPORATION OF KANSAS CITY MISSOURI.
Totals
- Total revenue
- $5,522,537
- Total expenses
- $4,775,587
- Contributions and grants received
- $4,540,000
- Grants paid
- $155,455
- Program service revenue
- $797,212
- Investment income
- $87,762
- Other revenue
- $97,563
- Total assets, end of year
- $7,316,054
- Total liabilities, end of year
- $5,156,207
- Net assets or fund balances, end of year
- $2,159,847
- Program services expenses (Part IX)
- $2,653,230
- Management and general expenses
- $2,122,357
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,653,230
Program services were 55.6% 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.
-
1d · Related organizations
$4,400,000
-
1f · All other contributions, gifts and grants
$140,000
-
2a · Program service revenue: ADMINISTRATIVE FEES
total $519,331 · related or exempt $519,331
-
2b · Program service revenue: BUSINESS DEVELOPMENT R
total $277,881 · related or exempt $277,881
-
3 · Investment income
total $87,762 · excluded $87,762
-
11a · Other revenue: ENHANCED ENT ZONE FEES
total $37,698 · excluded $37,698
-
11b · Other revenue: CHAPTER 100 BOND FEES
total $30,000 · excluded $30,000
-
11c · Other revenue: PIEA FEE REVENUES
total $29,865 · excluded $29,865
-
11e · Other revenue, total
$97,563
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $155,455 · program services $155,455
-
5 · Compensation of officers, directors and key employees
total $379,966 · program services $334,369 · management and general $45,597
-
7 · Other salaries and wages
total $1,699,500 · program services $1,141,706 · management and general $557,794
-
8 · Pension plan contributions
total $175,929 · program services $133,907 · management and general $42,022
-
9 · Other employee benefits
total $357,018 · program services $271,742 · management and general $85,276
-
11b · Fees: legal
total $188,899 · program services $62,479 · management and general $126,420
-
11c · Fees: accounting
total $249,707 · program services $82,592 · management and general $167,115
-
11g · Fees: other
total $216,769 · program services $71,698 · management and general $145,071
-
12 · Advertising and promotion
total $155,767 · program services $150,448 · management and general $5,319
-
13 · Office expenses
total $106,046 · management and general $106,046
-
14 · Information technology
total $110,118 · program services $14,833 · management and general $95,285
-
16 · Occupancy
total $13,955 · management and general $13,955
-
17 · Travel
total $72,122 · program services $20,473 · management and general $51,649
-
22 · Depreciation, depletion and amortization
total $120,447 · management and general $120,447
-
23 · Insurance
total $34,448 · management and general $34,448
-
24a · Other expenses: LEASE EXPENSE
total $268,120 · management and general $268,120
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $215,261 · program services $34,727 · management and general $180,534
-
24c · Other expenses: LAUNCHKC EXPENSES
total $165,000 · program services $165,000
-
24d · Other expenses: OTHER EXPENSE
total $41,253 · program services $4,342 · management and general $36,911
-
24e · All other expenses
total $49,807 · program services $9,459 · management and general $40,348
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,838,172 · end of year $1,389,147
-
2 · Savings and temporary cash investments
beginning of year $1,734,742 · end of year $2,791,344
-
4 · Accounts receivable
beginning of year $1,018,652 · end of year $814,523
-
9 · Prepaid expenses and deferred charges
beginning of year $82,133 · end of year $60,100
-
10a · Land, buildings and equipment: cost or other basis
$1,701,524
-
10b · Land, buildings and equipment: accumulated depreciation
$967,359
-
10c · Land, buildings and equipment, net
beginning of year $699,685 · end of year $734,165
-
15 · Other assets
beginning of year $1,792,476 · end of year $1,526,775
-
17 · Accounts payable and accrued expenses
beginning of year $3,610,187 · end of year $2,307,743
-
19 · Deferred revenue
beginning of year $333,642 · end of year $1,293,360
-
25 · Other liabilities
beginning of year $1,809,134 · end of year $1,555,104
-
27 · Net assets without donor restrictions
beginning of year $1,412,897 · end of year $2,159,847
Mission and programs · 2023
Mission
THE MISSION OF THE EDC IS TO DRIVE ECONOMIC DEVELOPMENT AND CREATE AN ENVIRONMENT IN WHICH BUSINESSES AND RESIDENTS CAN PROSPER AND GROW IN KANSAS CITY, MISSOURI.
-
LAND DEVELOPMENT AND BLIGHT REMEDIATION; BUSINESS ATTRACTION, RETENTION AND EXPANSION; IMPLEMENTATION OF STRATEGIC INITIATIVES SUCH AS THE BLUE RIVER VALLEY CORRIDOR AND LAUNCHKC.
Expenses $2,653,230 · Grants $155,455 · Revenue $797,212
As filed on the 2023 return.
Listed in Part VII
-
MCCLAIN BRYANT MACKLIN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
BRIDGETTE WILLIAMS
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 5 + 1 related
-
BRIAN PLATT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
COUNCILMAN LEE BARNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
TAMMY HENDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MAKINI L KING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MAYOR QUINTON LUCAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RUSSELL SHANKLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
TRACEY LEWIS
PRESIDENT & CEO
- Total calculated
- $273,434
- From this org
- $225,000
- From related orgs
- $0
- Other
- $48,434
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $225,000
- Bonus
- $0
- Other
- $0
- Deferred
- $20,774
- Nontaxable benefits
- $27,660
- Filer's total
- $273,434
-
LA'SHERRY BANKS
SECRETARY
- Total calculated
- $105,683
- From this org
- $86,582
- From related orgs
- $0
- Other
- $19,101
- Hours/week
- 40
-
HEATHER BROWN
VICE PRES. OF ADMINISTRATION
- Total calculated
- $230,973
- From this org
- $182,706
- From related orgs
- $0
- Other
- $48,267
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $177,356
- Bonus
- $5,350
- Other
- $0
- Deferred
- $16,764
- Nontaxable benefits
- $31,503
- Filer's total
- $230,973
-
DANIEL MOYE
VICE PRES. LAND DEVLEOPMENT
- Total calculated
- $176,613
- From this org
- $134,884
- From related orgs
- $0
- Other
- $41,729
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $131,282
- Bonus
- $3,602
- Other
- $0
- Deferred
- $11,832
- Nontaxable benefits
- $29,897
- Filer's total
- $176,613
-
STEVEN ANTHONY
VICE PRES. BUSINESS DEVELOPMENT
- Total calculated
- $164,768
- From this org
- $139,951
- From related orgs
- $0
- Other
- $24,817
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,102
- Bonus
- $3,849
- Other
- $0
- Deferred
- $12,271
- Nontaxable benefits
- $12,546
- Filer's total
- $164,768
-
JIM ERICKSON
DIRECTOR OF STRATEGI INITIATIVES
- Total calculated
- $152,405
- From this org
- $112,395
- From related orgs
- $0
- Other
- $40,010
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $109,066
- Bonus
- $3,329
- Other
- $0
- Deferred
- $9,829
- Nontaxable benefits
- $30,181
- Filer's total
- $152,405
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$140,000
GENERAL FUNDING
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(4) · ECONOMIC DEVELOPMENT · MO · controlled entity
-
EDC STRATEGIC INITIATIVES FUND
501(C)(3) · ECONOMIC DEVELOPMENT · MO · controlled entity
-
CITY GOVERNMENT · MO
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540739349301629
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