Form 990 for tax year 2022
Filed by TRI-COUNTY ECONOMIC DEVELOPMENT CHARITABLE CORPORATION.
Totals
- Total revenue
- $1,176,302
- Total expenses
- $564,965
- Contributions and grants received
- $1,160,001
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $16,301
- Other revenue
- $0
- Total assets, end of year
- $2,926,916
- Total liabilities, end of year
- $133,192
- Net assets or fund balances, end of year
- $2,793,724
- Program services expenses (Part IX)
- $552,950
- Management and general expenses
- $12,015
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $552,950
Program services were 97.9% 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.
-
1f · All other contributions, gifts and grants
$1,160,001
-
3 · Investment income
total $16,301 · related or exempt $16,301
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $209,092 · program services $209,092
-
7 · Other salaries and wages
total $152,282 · program services $152,282
-
8 · Pension plan contributions
total $11,734 · program services $11,734
-
9 · Other employee benefits
total $30,951 · program services $30,951
-
10 · Payroll taxes
total $24,537 · program services $24,537
-
11g · Fees: other
total $40,000 · program services $40,000
-
12 · Advertising and promotion
total $19,362 · program services $19,362
-
17 · Travel
total $6 · program services $6
-
19 · Conferences, conventions and meetings
total $18,428 · program services $18,428
-
24a · Other expenses: SUBSCRIPTIONS
total $45,973 · program services $45,958 · management and general $15
-
24b · Other expenses: BAD DEBT
total $12,000 · management and general $12,000
-
24c · Other expenses: CLIENT ENTERTAINMENT
total $600 · program services $600
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $597,306 · end of year $1,083,832
-
3 · Pledges and grants receivable
beginning of year $1,578,166 · end of year $1,843,084
-
17 · Accounts payable and accrued expenses
end of year $133,192
-
27 · Net assets without donor restrictions
beginning of year $19,737 · end of year $30,939
-
28 · Net assets with donor restrictions
beginning of year $2,155,735 · end of year $2,762,785
Mission and programs · 2022
Mission
THE MISSION OF THE TRI-COUNTY ECONOMIC DEVELOPMENT CHARITABLE CORPORATION IS TO PROVIDE PRIVATE-SECTOR LEADERSHIP AND RESOURCES TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION (TRI-ED) IN MARKETING AND PROMOTING THE THREE NORTHERN KENTUCKY COUNTIES ON A NATIONAL AND INTERNATIONAL BASIS, AS A LOCATION FOR NEW OR EXPANDING (1) MANUFACTURING PROJECTS (2) OFFICE PROJECTS, (3) WAREHOUSE/DISTRIBUTION PROJECTS, AND (4) LARGE COMMERCIAL AND SERVICE PROJECTS.
Activities or mission (Part I)
TO PROVIDE PRIVATE-SECTOR LEADERSHIP AND RESOURCES TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION (TRI-ED)
-
SUPPORT SERVICES RENDERED TO THE TRI-COUNTY ECONOMIC DEVELOPMENT CORPORTATION, WHICH PROVIDE BOONE, CAMPBELL, AND KENTON COUNTIES AND THE MUNICIPALITIES AND BUSINESS INTERESTS THEREIN WITH PROFESSIONAL ECONOMIC DEVELOPMENT SERVICES COMPRISED OF: ADDRESSING THE CURRENT AND FUTURE WORKFORCE NEEDS OF NORTHERN KENTUCKY, INDETIFY AND PREPARE SITES FOR SUBSEQUENT PRIVATE COMMERCIAL AND INDUSTRIAL DEVELOPMENT THAT EXCEEDS COMMUNITY EMPLOYMENT AND WAGE TARGETS, AND PROVIDE DATA, INSIGHTS, AND A FORUM TO COMMUNITY LEADERS THAT CONTRIBUTE TO PROSPERITY, GROWTH AND EQUITY IN THE REGION.
Expenses $552,950
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tom BantaTOM BANTA
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jim DressmanJIM DRESSMAN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Carey SandersCAREY SANDERS
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Ben BrandstetterBEN BRANDSTETTER
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kris KnochelmannKRIS KNOCHELMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Gary MooreGARY MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Steve PenderySTEVE PENDERY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Normand DesmaraisNORMAND DESMARAIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Lee CrumeLEE CRUME
PRESIDENT
- Total calculated
- $338,690
- From this org
- $0
- From related orgs
- $328,468
- Other
- $10,222
- Hours/week
- 3 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $258,435 related
- Bonus
- $0 + $60,471 related
- Other
- $0 + $9,562 related
- Deferred
- $0 + $10,222 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $338,690 related
-
Christine RussellCHRISTINE RUSSELL
EMPLOYEE
- Total calculated
- $179,549
- From this org
- $0
- From related orgs
- $173,249
- Other
- $6,300
- Hours/week
- 40 + 3 related
Schedule J breakdown matched by us
- Base
- $0 + $157,500 related
- Bonus
- $0 + $13,400 related
- Other
- $0 + $2,349 related
- Deferred
- $0 + $6,300 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $179,549 related
-
Cheryl BeslCHERYL BESL
EMPLOYEE
- Total calculated
- $126,239
- From this org
- $0
- From related orgs
- $118,115
- Other
- $8,124
- Hours/week
- 8 + 32 related
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 · Written employment contract
- 3 · Compensation survey or study
- 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
No itemized grants to organizations on this return.
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.
-
TRI-COUNTY ECONOMIC DEVELOPMENT CORPORATION
501(C)(6) · KY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202420859349300022
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