Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,017,647

• 1f · All other contributions, gifts and grants

  $870,530

• 2a · Program service revenue: ECONOMIC DEVELOPMENT

  total $324,998 · related or exempt $324,998

• 3 · Investment income

  total $123,690 · excluded $123,690

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $751 · excluded $751

• 11e · Other revenue, total

  $751

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $32,000 · program services $32,000

• 5 · Compensation of officers, directors and key employees

  total $522,919 · program services $299,069 · management and general $168,343 · fundraising $55,507

• 7 · Other salaries and wages

  total $1,240,397 · program services $1,025,749 · management and general $214,648

• 8 · Pension plan contributions

  total $70,790 · program services $62,674 · management and general $8,116

• 9 · Other employee benefits

  total $157,541 · program services $132,324 · management and general $25,217

• 10 · Payroll taxes

  total $126,237 · program services $99,366 · management and general $23,584 · fundraising $3,287

• 11b · Fees: legal

  total $4,175 · program services $1,175 · management and general $3,000

• 11c · Fees: accounting

  total $18,979 · management and general $18,979

• 11d · Fees: lobbying

  total $42,000 · management and general $42,000

• 11g · Fees: other

  total $257,556 · program services $208,619 · management and general $48,908 · fundraising $29

• 12 · Advertising and promotion

  total $382,174 · program services $382,174

• 13 · Office expenses

  total $46,938 · program services $8,892 · management and general $34,805 · fundraising $3,241

• 14 · Information technology

  total $84,050 · program services $77,838 · management and general $6,212

• 16 · Occupancy

  total $188,726 · program services $148,525 · management and general $40,201

• 17 · Travel

  total $40,025 · program services $30,711 · management and general $9,133 · fundraising $181

• 19 · Conferences, conventions and meetings

  total $22,263 · program services $20,313 · management and general $1,950

• 22 · Depreciation, depletion and amortization

  total $61,449 · management and general $61,449

• 23 · Insurance

  total $10,874 · management and general $10,874

• 24a · Other expenses: TRAINING AND EDUCATION

  total $20,598 · management and general $20,598

• 24b · Other expenses: PROFESSIONAL MEMBERSHIP

  total $17,277 · program services $16,884 · management and general $393

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $108,468 · end of year $130,462

• 2 · Savings and temporary cash investments

  beginning of year $2,944,717 · end of year $2,818,239

• 4 · Accounts receivable

  beginning of year $458,275 · end of year $598,503

• 9 · Prepaid expenses and deferred charges

  beginning of year $43,138 · end of year $65,195

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

  $573,207

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

  $236,853

• 10c · Land, buildings and equipment, net

  beginning of year $388,990 · end of year $336,354

• 15 · Other assets

  beginning of year $2,163,545 · end of year $1,989,861

• 17 · Accounts payable and accrued expenses

  beginning of year $123,068 · end of year $129,711

• 19 · Deferred revenue

  end of year $175

• 25 · Other liabilities

  beginning of year $2,302,662 · end of year $2,136,677

• 27 · Net assets without donor restrictions

  beginning of year $3,681,403 · end of year $3,672,051

The filer's explanations (Part III)

PART I, LINE 3

THE EXECUTIVE COMMITTEE SERVES AS COMPENSATION COMMITTEE.