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Nonprofiteer
← SPENCER-OWEN COUNTY ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SPENCER-OWEN COUNTY ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$301,254
Total expenses
$260,731
Contributions and grants received
$162,925
Grants paid
$0
Program service revenue
$91,190
Investment income
$59
Other revenue
$47,080
Total assets, end of year
$388,928
Total liabilities, end of year
$29,006
Net assets or fund balances, end of year
$359,922
Program services expenses (Part IX)
$255,973
Management and general expenses
$0
Fundraising expenses
$4,758
Program service expenses (Part III)
$255,973

Program services were 98.2% 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

    $162,925

  • 2a · Program service revenue: SPONSORSHIPS

    total $58,650 · related or exempt $58,650

  • 2b · Program service revenue: CHAMBER MEMBERSHIP DUES

    total $31,690 · related or exempt $31,690

  • 2c · Program service revenue: EVENT REVENUE

    total $850 · related or exempt $850

  • 3 · Investment income

    total $460 · excluded $460

  • 7b · Less cost or other basis and sales expenses

    other assets $401

  • 7c · Gain or loss

    other assets -$401

  • 7d · Net gain or loss

    total -$401 · related or exempt -$401

  • 8a · Fundraising events: gross income

    $23,680

  • 8b · Fundraising events: direct expenses

    $13,456

  • 8c · Net income from fundraising events

    total $10,224

  • 11a · Other revenue: EXCHANGE REVENUE

    total $32,956 · related or exempt $32,956

  • 11b · Other revenue: OTHER INCOME

    total $3,900 · related or exempt $3,900

  • 11e · Other revenue, total

    $36,856

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $125,579 · program services $125,579

  • 8 · Pension plan contributions

    total $2,913 · program services $2,913

  • 9 · Other employee benefits

    total $6,769 · program services $6,769

  • 10 · Payroll taxes

    total $9,607 · program services $9,607

  • 11b · Fees: legal

    total $4,730 · program services $4,730

  • 11c · Fees: accounting

    total $4,373 · program services $4,373

  • 11g · Fees: other

    total $7,332 · program services $7,182 · fundraising $150

  • 12 · Advertising and promotion

    total $1,418 · program services $1,418

  • 13 · Office expenses

    total $12,608 · program services $9,048 · fundraising $3,560

  • 14 · Information technology

    total $7,236 · program services $7,236

  • 16 · Occupancy

    total $32,612 · program services $32,612

  • 17 · Travel

    total $4,835 · program services $4,835

  • 19 · Conferences, conventions and meetings

    total $221 · program services $221

  • 22 · Depreciation, depletion and amortization

    total $6,627 · program services $6,627

  • 23 · Insurance

    total $3,289 · program services $3,289

  • 24a · Other expenses: EXCHANGE

    total $17,073 · program services $17,073

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $4,762 · program services $4,762

  • 24c · Other expenses: COGS

    total $3,938 · program services $3,938

  • 24d · Other expenses: COMMUNITY DEVELOPMENT

    total $2,300 · program services $2,300

  • 24e · All other expenses

    total $2,509 · program services $1,461 · fundraising $1,048

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $279,497 · end of year $218,728

  • 2 · Savings and temporary cash investments

    beginning of year $30,244 · end of year $7,969

  • 4 · Accounts receivable

    beginning of year $32,640 · end of year $42,712

  • 7 · Other notes and loans receivable

    beginning of year $2,113

  • 10a · Land, buildings and equipment: cost or other basis

    $135,867

  • 10b · Land, buildings and equipment: accumulated depreciation

    $16,348

  • 10c · Land, buildings and equipment, net

    beginning of year $3,675 · end of year $119,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $419 · end of year $470

  • 19 · Deferred revenue

    beginning of year $25,000 · end of year $25,000

  • 25 · Other liabilities

    beginning of year $3,351 · end of year $3,536

  • 27 · Net assets without donor restrictions

    beginning of year $319,399 · end of year $359,922

Mission and programs · 2023

Mission

PROMOTE ECONOMIC DEVELOPMENT AND STIMULATE BUSINESS WITHIN THE COMMUNITY.

  • TO STIMULATE BUSINESS, CONTINUE TO INCREASE THE VALUE OF THE MEMBERSHIP, AND TO CREATE MORE OPPORTUNITIES FOR ECONOMIC GROWTH WITHIN THE COMMUNITY.

    Expenses $246,416 · Revenue $91,190

  • TO STIMULATE BUSINESS, CONTINUE TO INCREASE THE VALUE OF THE MEMBERSHIP, AND TO CREATE MORE OPPORTUNITIES FOR ECONOMIC GROWTH WITHIN THE COMMUNITY.

    Expenses $9,557

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Todd Gardner

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Chris Conner

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    2

  • Todd Turnil

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bill Grandi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brad Keiser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bruce Hamlin

    EDC CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Nicole Plunkett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rick Burger

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Andy Cline

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Aaron La Grange

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Danell Witmer

    BOARD MEMBER

    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
9 May 2024
IRS schema version
2023v5.0
Source object
202411349349304101

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