Form 990 for tax year 2023
Filed by COOS ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $494,905
- Total expenses
- $348,824
- Contributions and grants received
- $371,244
- Grants paid
- $97,237
- Program service revenue
- $72,715
- Investment income
- $46,865
- Other revenue
- $4,081
- Total assets, end of year
- $2,552,277
- Total liabilities, end of year
- $299,821
- Net assets or fund balances, end of year
- $2,252,456
- Program services expenses (Part IX)
- $293,255
- Management and general expenses
- $55,569
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $293,255
Program services were 84.1% 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)
$174,276
-
1f · All other contributions, gifts and grants
$196,968
-
2a · Program service revenue: INTEREST INCOME - LOANS
total $40,486 · related or exempt $40,486
-
2b · Program service revenue: UNUSED GRANT FUNDS RETURNED
total $15,689 · related or exempt $15,689
-
2c · Program service revenue: LEASE INCOME
total $11,000 · related or exempt $11,000
-
2d · Program service revenue: ADMINISTRATIVE INCOME
total $5,090 · related or exempt $5,090
-
2e · Program service revenue: LOAN APPLICATION FEE
total $450 · related or exempt $450
-
3 · Investment income
total $25,794 · related or exempt $25,794
-
7a · Gross sales of assets other than inventory
other assets $25,000
-
7b · Less cost or other basis and sales expenses
other assets $3,929
-
7c · Gain or loss
other assets $21,071
-
7d · Net gain or loss
total $21,071 · related or exempt $21,071
-
8a · Fundraising events: gross income
$5,731
-
8b · Fundraising events: direct expenses
$1,650
-
8c · Net income from fundraising events
total $4,081 · excluded $4,081
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $97,237 · program services $97,237
-
7 · Other salaries and wages
total $139,929 · program services $121,766 · management and general $18,163
-
9 · Other employee benefits
total $10,614 · program services $9,553 · management and general $1,061
-
10 · Payroll taxes
total $9,297 · program services $8,367 · management and general $930
-
11b · Fees: legal
total $762 · management and general $762
-
11c · Fees: accounting
total $6,500 · management and general $6,500
-
11f · Fees: investment management
total $2,243 · management and general $2,243
-
11g · Fees: other
total $15,918 · program services $12,373 · management and general $3,545
-
12 · Advertising and promotion
total $2,579 · program services $2,579
-
13 · Office expenses
total $3,540 · management and general $3,540
-
14 · Information technology
total $3,330 · program services $2,493 · management and general $837
-
16 · Occupancy
total $8,989 · management and general $8,989
-
17 · Travel
total $4,428 · program services $4,428
-
19 · Conferences, conventions and meetings
total $2,532 · program services $285 · management and general $2,247
-
20 · Interest
total $4,283 · program services $4,283
-
22 · Depreciation, depletion and amortization
total $12,862 · program services $12,862
-
23 · Insurance
total $3,429 · management and general $3,429
-
24a · Other expenses: DONATION EXPENSE
total $25,000 · program services $25,000
-
24b · Other expenses: DUES, LICENSES & FEES
total $2,394 · program services $196 · management and general $2,198
-
24c · Other expenses: RMAP REQUIRED BOND
total $365 · management and general $365
-
24d · Other expenses: REAL ESTATE TAXES
total $271 · management and general $271
-
24e · All other expenses
total -$7,678 · program services -$8,167 · management and general $489
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,325,437 · end of year $529,932
-
4 · Accounts receivable
beginning of year $1,029 · end of year $26,522
-
7 · Other notes and loans receivable
beginning of year $763,810 · end of year $631,799
-
10a · Land, buildings and equipment: cost or other basis
$330,212
-
10b · Land, buildings and equipment: accumulated depreciation
$54,583
-
10c · Land, buildings and equipment, net
beginning of year $292,420 · end of year $275,629
-
11 · Investments: publicly traded securities
end of year $1,088,395
-
17 · Accounts payable and accrued expenses
beginning of year $509 · end of year $2,778
-
18 · Grants payable
beginning of year $46,748 · end of year $75,687
-
25 · Other liabilities
beginning of year $233,959 · end of year $221,356
-
27 · Net assets without donor restrictions
beginning of year $1,103,004 · end of year $1,213,599
-
28 · Net assets with donor restrictions
beginning of year $998,476 · end of year $1,038,857
Mission and programs · 2023
Mission
TO PROMOTE ECONOMIC GROWTH THAT FOSTERS A STRONG AND DIVERSE WORKFORCE, SUSTAINABLE EMPLOYMENT AND A THRIVING BUSINESS ENVIRONMENT AS THE REGIONAL DEVELOPMENT CORPORATION OF COOS COUNTY.
-
EFFORTS TO PROMOTE ECONOMIC GROWTH THAT FOSTERS A STRONG AND DIVERSE WORKFORCE, SUSTAINABLE EMPLOYMENT AND THRIVING BUSINESS ENVIRONMENTS THROUGHOUT COOS COUNTY.
Expenses $255,393 · Grants $97,237 · Revenue $16,540
-
CONTINUATION OF THE NORTH COUNTRY CELL SERVICE INITIATIVE PROJECT THAT BENEFITS BOTH THE PUBLIC AND PRIVATE SECTORS TO BRING EXPANDED AND IMPROVED CELLULAR AND HIGH-SPEED BROADBAND SERVICE TO UNDERSERVED AREAS OF COOS COUNTY.
Expenses $12,067
-
CONTINUATION OF A 2006 CDBG GRANT PROJECT WHICH PURCHASED A WOOD-BURNING TURBINE FOR THE PURPOSE OF CREATING JOBS AND PROVIDING LOWER COST ENERGY FOR A FURNITURE MANUFACTURING FACILITY.
Expenses $25,795 · Revenue $21,071
-
OTHER MINOR PROGRAMS WITHIN ORGANIZATION THAT SUPPORT ITS MISSION.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Alan Bob BakerALAN BOB BAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ruby BerrymanRUBY BERRYMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Hannah CampbellHANNAH CAMPBELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Glenn CoppelmanGLENN COPPELMAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 2.25
-
Tim EganTIM EGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve EllisSTEVE ELLIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.25
-
Kathleen FrenetteKATHLEEN FRENETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Raymond GormanRAYMOND GORMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brian HoffmanBRIAN HOFFMAN
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 1.5
-
Carol MillerCAROL MILLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Henry NoelHENRY NOEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James PatryJAMES PATRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.25
-
Robert ThebergeROBERT THEBERGE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Jim TibbettsJIM TIBBETTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
- 23 October 2024
- IRS schema version
- 2023v5.0
- Source object
- 202443029349300949
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