Form 990 for tax year 2023
Filed by MOOSEHEAD LAKE REGION ECONOMIC DEVELOPMENT CORP.
Totals
- Total revenue
- $189,193
- Total expenses
- $87,009
- Contributions and grants received
- $31,108
- Grants paid
- $0
- Program service revenue
- $20,896
- Investment income
- $137,089
- Other revenue
- $100
- Total assets, end of year
- $1,778,968
- Total liabilities, end of year
- $46,500
- Net assets or fund balances, end of year
- $1,732,468
- Program services expenses (Part IX)
- $72,096
- Management and general expenses
- $14,913
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $72,096
Program services were 82.9% 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.
-
1e · Government grants (contributions)
$15,000
-
1f · All other contributions, gifts and grants
$16,108
-
2a · Program service revenue: GBC RENTAL
total $19,096 · related or exempt $19,096
-
2b · Program service revenue: DOCK SLIP RENTAL
total $1,800 · related or exempt $1,800
-
3 · Investment income
total $21,451 · excluded $21,451
-
7a · Gross sales of assets other than inventory
securities $492,324 · other assets $1
-
7b · Less cost or other basis and sales expenses
securities $362,387 · other assets $14,300
-
7c · Gain or loss
securities $129,937 · other assets -$14,299
-
7d · Net gain or loss
total $115,638 · excluded $115,638
-
11a · Other revenue: OTHER INCOME
total $100 · related or exempt $100
-
11e · Other revenue, total
$100
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $5,985 · program services $3,975 · management and general $2,010
-
11g · Fees: other
total $6,524 · program services $762 · management and general $5,762
-
12 · Advertising and promotion
total $230 · program services $230
-
13 · Office expenses
total $2,424 · management and general $2,424
-
16 · Occupancy
total $776 · program services $776
-
22 · Depreciation, depletion and amortization
total $29,443 · program services $29,443
-
23 · Insurance
total $8,534 · program services $5,378 · management and general $3,156
-
24a · Other expenses: GBC LEASE EXPENSE
total $9,548 · program services $9,548
-
24b · Other expenses: BANK CHARGES & FEES
total $6,657 · program services $6,657
-
24c · Other expenses: ENTERTAINMENT
total $3,543 · program services $3,543
-
24d · Other expenses: RENTAL EXPENSE
total $2,475 · program services $2,475
-
24e · All other expenses
total $10,870 · program services $9,309 · management and general $1,561
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $178,861 · end of year $171,834
-
5 · Loans and receivables from officers and key people
beginning of year $59,421 · end of year $121,281
-
7 · Other notes and loans receivable
end of year $14,311
-
10a · Land, buildings and equipment: cost or other basis
$461,491
-
10b · Land, buildings and equipment: accumulated depreciation
$29,265
-
10c · Land, buildings and equipment, net
beginning of year $451,169 · end of year $432,226
-
11 · Investments: publicly traded securities
beginning of year $838,224 · end of year $888,349
-
14 · Intangible assets
beginning of year $166,267 · end of year $150,967
-
22 · Loans and payables to officers and key people
beginning of year $45,000 · end of year $45,000
-
25 · Other liabilities
beginning of year $3,091 · end of year $1,500
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $1,645,851 · end of year $1,732,468
Mission and programs · 2023
Mission
THE ORGANIZATION IS WORKING TO GROW AND SUSTAIN LOCAL BUSINESSES, ATTRACT AND CREATE NEW JOBS, AND ENHANCE THE ECONOMY OF THE MOOSEHEAD LAKE REGION.
Activities or mission (Part I)
THE PROMOTION OF THE COMMON GOOD AND GENERAL WELFARE OF THE PUBLIC IN AND AROUND MOOSEHEAD LAKE, MAINE, THROUGH THE PROMOTION OF ECONOMIC DEVELOPMENT, FOSTERING ECONOMIC GROWTH AND FACILITATING JOB CREATION IN THE REGION.
-
THE PROMOTION OF ECONOMIC DEVELOPMENT AND THE FACILITATION OF JOB CREATION AROUND THE MOOSEHEAD LAKE REGION IN THE STATE OF MAINE.
Expenses $72,096 · Revenue $20,996
As filed on the 2023 return.
Listed in Part VII
-
Eugene MurrayEUGENE MURRAY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Karin TilbergKARIN TILBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Margarita ContreniMARGARITA CONTRENI
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Craig WattCRAIG WATT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Telford AllenTELFORD ALLEN
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Kevin McAfeeKEVIN MCAFEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Woody BartleyWOODY BARTLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Drew CotaDREW COTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melody EricksonMELODY ERICKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert FordROBERT FORD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Jenny WardJENNY WARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael HarrisMICHAEL HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark TaylorMARK TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike TheriaultMIKE THERIAULT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer AucoinJENNIFER AUCOIN
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
- 7 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433199349311468
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