Form 990 for tax year 2023
Filed by DORCHESTER ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $484,935
- Total expenses
- $392,692
- Contributions and grants received
- $417,605
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $11,294
- Other revenue
- $56,036
- Total assets, end of year
- $679,546
- Total liabilities, end of year
- $2,250
- Net assets or fund balances, end of year
- $677,296
- Program services expenses (Part IX)
- $346,991
- Management and general expenses
- $0
- Fundraising expenses
- $45,701
- Program service expenses (Part III)
- $346,991
Program services were 88.4% 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
$417,605
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $11,294 · excluded $11,294
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: gross income
$43,307
-
8b · Fundraising events: direct expenses
$15,175
-
8c · Net income from fundraising events
total $28,132 · excluded $28,132
-
11a · Other revenue: Account Credit Reimbursements
total $27,904 · excluded $27,904
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$27,904
Functional expenses
Part IX, the statement of functional expenses.
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $96,201 · program services $50,810 · fundraising $45,391
-
13 · Office expenses
total $61,502 · program services $61,502
-
14 · Information technology
total $1,500 · program services $1,500
-
16 · Occupancy
total $1,136 · program services $1,136
-
17 · Travel
total $27,704 · program services $27,704
-
19 · Conferences, conventions and meetings
total $37,180 · program services $36,870 · fundraising $310
-
24a · Other expenses: Workforce Development - STEMersion Expenses
total $167,333 · program services $167,333
-
24b · Other expenses: Workforce Development - DC Industrial Council
total $136 · program services $136
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $564,903 · end of year $664,046
-
4 · Accounts receivable
beginning of year $23,650 · end of year $15,500
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
end of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
end of year $2,250
-
22 · Loans and payables to officers and key people
end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $588,553 · end of year $677,296
Mission and programs · 2023
Mission
Dorchester County Economic Development's mission is to create an environment that supports new business growth and retention enabling companies to succeed for generations. In addition, we work to strengthen and prepare our community for the future. Through such efforts, we aim to provide our citizens with the opportunities to grow and prosper in Dorchester County.
-
TO ADDRESS THE OVERALL NEEDS OF DORCHESTER COUNTY BY CREATING JOBS, IMPLEMENTING SUSTAINABLE COMMUNITY AND ECONOMIC DEVELOPMENT, BUILDING INDUSTRY RETENTION AND EXPANISION, ASSISTING THE DEVELOPMENT OF THE DORCHESTER COUNTY WORKFORCE, CREATING EMPLOYMENT OPPORTUNITIES, CONDUCTING MARKETING AND ADVERTISING ACTIVITES, FACILITATING RESEARCH RELATED TO ECONOMIC DEVELOPMENT, ENGAGING IN INCENTIVE NEGOTIATIONS, AND PROMOTING INFRASTRUCTURE DEVELOPMENT.
Expenses $346,991
As filed on the 2023 return.
Listed in Part VII
-
Brad Mallett
Member
- Total calculated
- $0
- Hours/week
- 1
-
Edward Crosby
Councilman
- Total calculated
- $0
- Hours/week
- 1
-
Henry Hank Taylor
Member
- Total calculated
- $0
- Hours/week
- 1
-
Jim Martin
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Kevin Hart
Appointed Mayor
- Total calculated
- $0
- Hours/week
- 1
-
Lamont Stevens
Member
- Total calculated
- $0
- Hours/week
- 1
-
Lauren Bailey
Secretary/Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Phyllis Hughes
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Rita Berry
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Saundra Sandy Price
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Shane Robbins
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Stuart Todd Friddle
Councilman
- Total calculated
- $0
- Hours/week
- 1
-
Tony Pope
Member
- Total calculated
- $0
- Hours/week
- 1
-
Walter Skip Elliott
Chairman
- 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
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511349349306286
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