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Nonprofiteer
← HIGHLAND RIM ECONOMIC CORPORATION

Form 990 for tax year 2024

Filed by HIGHLAND RIM ECONOMIC CORPORATION.

Totals

Total revenue
-$1,917,662
Total expenses
$1,430,493
Contributions and grants received
$1,370,460
Grants paid
$489,583
Program service revenue
$0
Investment income
-$3,294,078
Other revenue
$5,956
Total assets, end of year
$1,291,410
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,291,410
Program services expenses (Part IX)
$1,382,761
Management and general expenses
$47,732
Fundraising expenses
$0
Program service expenses (Part III)
$1,382,761

Program services were 96.7% 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)

    $1,012,642

  • 1f · All other contributions, gifts and grants

    $357,818

  • 1g · Noncash contributions included above

    $99,634

  • 3 · Investment income

    total $5,351 · excluded $5,351

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

    other assets $3,299,429

  • 7c · Gain or loss

    other assets -$3,299,429

  • 7d · Net gain or loss

    total -$3,299,429 · excluded -$3,299,429

  • 11a · Other revenue: MISCELLANEOUS

    total $5,956 · related or exempt $5,956

  • 11e · Other revenue, total

    $5,956

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $489,583 · program services $489,583

  • 7 · Other salaries and wages

    total $419,630 · program services $400,719 · management and general $18,911

  • 8 · Pension plan contributions

    total $9,863 · program services $9,370 · management and general $493

  • 9 · Other employee benefits

    total $53,918 · program services $51,681 · management and general $2,237

  • 10 · Payroll taxes

    total $29,258 · program services $27,795 · management and general $1,463

  • 11c · Fees: accounting

    total $9,499 · program services $9,024 · management and general $475

  • 11g · Fees: other

    total $62,337 · program services $59,575 · management and general $2,762

  • 13 · Office expenses

    total $9,798 · program services $9,356 · management and general $442

  • 16 · Occupancy

    total $74,658 · program services $71,293 · management and general $3,365

  • 17 · Travel

    total $2,414 · program services $2,305 · management and general $109

  • 22 · Depreciation, depletion and amortization

    total $10,405 · program services $9,936 · management and general $469

  • 23 · Insurance

    total $48,790 · program services $46,591 · management and general $2,199

  • 24a · Other expenses: MISCELLANEOUS

    total $166,455 · program services $153,625 · management and general $12,830

  • 24b · Other expenses: COMMUNICATIONS

    total $36,801 · program services $35,143 · management and general $1,658

  • 24c · Other expenses: MAINTENANCE AND REPAIRS

    total $7,084 · program services $6,765 · management and general $319

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $316,924 · end of year $690,562

  • 4 · Accounts receivable

    beginning of year $853,842 · end of year $252,059

  • 8 · Inventories for sale or use

    beginning of year $34,525 · end of year $81,354

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,772

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

    $545,272

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

    $277,837

  • 10c · Land, buildings and equipment, net

    beginning of year $3,577,269 · end of year $267,435

  • 17 · Accounts payable and accrued expenses

    beginning of year $396,823 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,077,958 · end of year $1,023,975

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $267,435

  • 31 · Retained earnings, endowment or other funds

    beginning of year $316,551 · end of year $0

Listed in Part VII

  • PAUL BAILEY

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • KRISTY HOLLINSWORTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINE CLARK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYNN COFFINBERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BOB RIAL

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER ROBERTSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAULA SKELTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOAN WARREN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACKIE GRUNTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIKE POGREBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOEY BRAKE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ROBERT BEECHUM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMANDA LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JANE HAMRICK

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202632599349300343

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