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Nonprofiteer
← MARSHALL COUNTY ECONOMICDEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by MARSHALL COUNTY ECONOMICDEVELOPMENT CORPORATION.

Totals

Total revenue
$981,963
Total expenses
$814,902
Contributions and grants received
$341,975
Grants paid
$0
Program service revenue
$14,800
Investment income
$589,188
Other revenue
$36,000
Total assets, end of year
$7,856,949
Total liabilities, end of year
$496,044
Net assets or fund balances, end of year
$7,360,905
Program services expenses (Part IX)
$603,449
Management and general expenses
$211,453
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 74.1% 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)

    $233,750

  • 1f · All other contributions, gifts and grants

    $108,225

  • 2a · Program service revenue: MISCELLANEOUS REVENUE

    total $14,800 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $388,720 · unrelated business $0 · excluded $388,720

  • 7a · Gross sales of assets other than inventory

    other assets $2,700,000

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

    other assets $2,499,532

  • 7c · Gain or loss

    other assets $200,468

  • 7d · Net gain or loss

    total $200,468 · related or exempt $200,468 · unrelated business $0 · excluded $0

  • 11a · Other revenue: DEVELOPER FEE

    total $36,000 · related or exempt $36,000 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $36,000

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $156,706 · program services $78,353 · management and general $78,353 · fundraising $0

  • 7 · Other salaries and wages

    total $54,503 · program services $0 · management and general $54,503 · fundraising $0

  • 8 · Pension plan contributions

    total $3,107 · program services $1,523 · management and general $1,584 · fundraising $0

  • 9 · Other employee benefits

    total $19,939 · program services $7,397 · management and general $12,542 · fundraising $0

  • 10 · Payroll taxes

    total $16,093 · program services $5,970 · management and general $10,123 · fundraising $0

  • 11b · Fees: legal

    total $13,098 · program services $11,788 · management and general $1,310 · fundraising $0

  • 11c · Fees: accounting

    total $5,110 · program services $4,599 · management and general $511 · fundraising $0

  • 12 · Advertising and promotion

    total $36,935 · program services $36,935 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $9,129 · program services $8,216 · management and general $913 · fundraising $0

  • 16 · Occupancy

    total $239,625 · program services $236,862 · management and general $2,763 · fundraising $0

  • 17 · Travel

    total $2,609 · program services $2,609 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $1,598 · program services $1,438 · management and general $160 · fundraising $0

  • 20 · Interest

    total $231,330 · program services $207,709 · management and general $23,621 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $7,294 · program services $0 · management and general $7,294 · fundraising $0

  • 23 · Insurance

    total $3,665 · program services $0 · management and general $3,665 · fundraising $0

  • 24a · Other expenses: TELEPHONE

    total $6,455 · program services $0 · management and general $6,455 · fundraising $0

  • 24b · Other expenses: UTILITIES

    total $3,422 · program services $0 · management and general $3,422 · fundraising $0

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $1,570 · program services $0 · management and general $1,570 · fundraising $0

  • 24d · Other expenses: PAYROLL SERVICE FEES

    total $1,756 · program services $0 · management and general $1,756 · fundraising $0

  • 24e · All other expenses

    total $958 · program services $50 · management and general $908 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $293,528 · end of year $472,409

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

    $77,044

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

    $64,379

  • 10c · Land, buildings and equipment, net

    beginning of year $14,310 · end of year $12,665

  • 15 · Other assets

    beginning of year $9,468,964 · end of year $7,371,875

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,331 · end of year $23,621

  • 18 · Grants payable

    beginning of year $12,419 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $2,536,208 · end of year $472,423

  • 27 · Net assets without donor restrictions

    beginning of year $7,193,844 · end of year $7,360,905

Mission and programs · 2022

Mission

MARKETING AND BUSINESS RECRUITMENT IN MARSHALL COUNTY

  • DEVELOPMENT AND IMPLEMENTATION OF JOB CREATION STRATEGIES FOR MARSHALL COUNTY, PRIMARILY THROUGH PLACE BASED MARKETING AND INCENTIVE COORDINATION FOR NEW BUSINESS ATTRACTION AND ON-SITE BUSINESS VISITATION PROGRAM FOR JOB RETENTION

  • DEVELOPMENT AND IMPLEMENTATION OF JOB CREATION STRATEGIES FOR MARSHALL COUNTY, PRIMARILY THROUGH ENTREPRENEURSHIP SUPPORT AND CULTIVATION THROUGH COUNSELING SERVICES AND REGIONAL NETWORKING

  • TO RAISE, ADMINISTER, ACCEPT, AND DISTRIBUTE FUNDS IN CONNECTION WITH ACTIVITIES RELATED TO THE PURPOSES OF MARSHALL COUNTY ECONOMIC DEVELOPMENT CORPORATION

As filed on the 2022 return.

Listed in Part VII

  • Laura Walls

    PRESIDENT/CEO - OUTGOING

    Total calculated
    $103,313
    From this org
    $103,313
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Greg Hildebrand

    PRESIDENT/CEO - INCOMING

    Total calculated
    $50,762
    From this org
    $50,762
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bill Davis

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Greg Miller

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mark Umbaugh

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Chelsea Smith

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Don Fox

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tim Harman

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Desalle

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jon Vanderweele

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Loretta Schmidt

    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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MCEDC LEVERAGE LENDER LLC

    TO PROMOTE, ASSIST, CONTRIBUTE AND SUPPORT ECONOMIC DEVELOPMENT · IN · income -$46,132 · assets $11,238,916

    Directly controlled by MARSHALL COUNTY ECONOMIC DEVELOPMENT CORP

  • MCEDC LEVERAGE LENDER 2 LLC

    TO PROMOTE, ASSIST, CONTRIBUTE AND SUPPORT ECONOMIC DEVELOPMENT · IN · income $14,954 · assets $6,689,697

    Directly controlled by MARSHALL COUNTY ECONOMIC DEVELOPMENT CORP

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202313199349303096

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