Form 990 for tax year 2023
Filed by ALBION ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $1,498,759
- Total expenses
- $184,710
- Contributions and grants received
- $1,309,110
- Grants paid
- $103,372
- Program service revenue
- $152,605
- Investment income
- $37,044
- Other revenue
- $0
- Total assets, end of year
- $2,308,179
- Total liabilities, end of year
- $184,746
- Net assets or fund balances, end of year
- $2,123,433
- Program services expenses (Part IX)
- $167,123
- Management and general expenses
- $17,587
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 90.5% 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.
-
1b · Membership dues
$370
-
1e · Government grants (contributions)
$1,267,500
-
1f · All other contributions, gifts and grants
$41,240
-
2a · Program service revenue: CITY SALES TAX REVENUE
total $148,905 · related or exempt $148,905
-
2b · Program service revenue: BUILDING RENT
total $3,700 · related or exempt $3,700
-
3 · Investment income
total $37,044 · excluded $37,044
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $96,050 · program services $96,050
-
2 · Grants to domestic individuals
total $7,322 · program services $7,322
-
11b · Fees: legal
total $128 · program services $96 · management and general $32
-
11c · Fees: accounting
total $5,550 · program services $4,162 · management and general $1,388
-
11g · Fees: other
total $1,080 · management and general $1,080
-
12 · Advertising and promotion
total $577 · program services $577
-
13 · Office expenses
total $3,198 · program services $2,398 · management and general $800
-
16 · Occupancy
total $44,829 · program services $33,621 · management and general $11,208
-
17 · Travel
total $517 · program services $517
-
19 · Conferences, conventions and meetings
total $738 · program services $738
-
20 · Interest
total $13,112 · program services $13,112
-
22 · Depreciation, depletion and amortization
total $8,763 · program services $6,572 · management and general $2,191
-
23 · Insurance
total $2,553 · program services $1,915 · management and general $638
-
24a · Other expenses: MEMBERSHIP DUES
total $150 · management and general $150
-
24b · Other expenses: LICENSE & FEES
total $100 · management and general $100
-
24c · Other expenses: BANK CHARGES
total $43 · program services $43
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,016 · end of year $24,603
-
2 · Savings and temporary cash investments
beginning of year $481,030 · end of year $1,108,434
-
7 · Other notes and loans receivable
end of year $100,627
-
10a · Land, buildings and equipment: cost or other basis
$219,742
-
10b · Land, buildings and equipment: accumulated depreciation
$12,329
-
10c · Land, buildings and equipment, net
beginning of year $171,643 · end of year $207,413
-
15 · Other assets
beginning of year $154,695 · end of year $867,102
-
25 · Other liabilities
end of year $184,746
-
31 · Retained earnings, endowment or other funds
beginning of year $809,384 · end of year $2,123,433
Mission and programs · 2023
Mission
ORGANIZATION'S MISSION IS TO PROMOTE DEVELOPMENT IN THE ALBION TRADE AREA BY LOANING FUNDS OR FURNISHING SITES AND BUILDINGS FOR INDUSTRIES INTERESTED IN LOCATING IN ALBION AND ITS TRADE TERRITORY.
Activities or mission (Part I)
ORGANIZATION'S PURPOSE IS TO PROMOTE DEVELOPMENT IN THE ALBION TRADE AREA BY LOANING FUNDS AND/OR PROVIDING ECONOMIC ASSISTANCE
-
THE ALBION ECONOMIC DEVELOPMENT CORPORATION (AEDC) IS FOCUSED ON ECONOMIC AND CIVIC DEVELOPMENT IN THE ALBION, NE AREA. DURING THE FISCAL YEAR ENDED MARCH 31, 2024, IT GAVE A LAND GRANT TO BOONE BEGINNINGS FOR THE DEVELOPMENT OF A NON-PROFIT CHILD CARE FACILITY. IT ALSO PROVIDED CASH GRANTS TO BOONE BEGINNINGS FOR SAID FACILITY AND A CASH GRANT TO THE BOONE COUNTY AGRICULUTURAL EDUCATION CENTER FOR THE FAIRGROUNDS PROJECT. FUTURE PROJECTS IN DEVELOPMENT INCLUDE AFFORDABLE HOUSING DEVELOPMENTS, WHICH ARE IN PROGRESS. SEVERAL GRANTS WERE ALSO GIVEN FOR INFRASTRUCE DEVELOPMENT AND DOWNTOWN IMPROVEMENTS.
As filed on the 2023 return.
Listed in Part VII
-
Michelle GragertMICHELLE GRAGERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey C JareckiJEFFREY C JARECKI
PRESIDENT/DI
- Total calculated
- $0
- Hours/week
- 1
-
Samantha KlevelandSAMANTHA KLEVELAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brock KuesterBROCK KUESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony LevanderTONY LEVANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John MoellerJOHN MOELLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andy RobertsANDY ROBERTS
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 1
-
Steven RuzekSTEVEN RUZEK
TREASURER
- Total calculated
- $0
- Hours/week
- 5
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
-
LEVANDER FUNERAL HOME
$39,050
INFRASTRUCTURE GRANT
-
VET PROPERTIES LLC
$30,000
INFRASTRUCTURE GRANT
-
$10,000
FAIRGROUND PROJECT
-
$10,000
EARLY CHILDHOOD DEV
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 August 2024
- IRS schema version
- 2023v5.0
- Source object
- 202412289349301236
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