Form 990 for tax year 2024
Filed by MARION ECONOMIC DEVELOPMENT CORP.
Totals
- Total revenue
- $470,835
- Total expenses
- $554,768
- Contributions and grants received
- $432,608
- Grants paid
- $0
- Program service revenue
- $21,086
- Investment income
- $7,843
- Other revenue
- $9,298
- Total assets, end of year
- $12,384,509
- Total liabilities, end of year
- $1,845,684
- Net assets or fund balances, end of year
- $10,538,825
- Program services expenses (Part IX)
- $377,973
- Management and general expenses
- $176,795
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $377,973
Program services were 68.1% 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.
-
1b · Membership dues
$258,792
-
1e · Government grants (contributions)
$140,000
-
1f · All other contributions, gifts and grants
$33,816
-
2a · Program service revenue: MHC SERVICES
total $6,000 · related or exempt $6,000
-
2b · Program service revenue: COMMUNITY PROMISE
total $15,086 · related or exempt $15,086
-
3 · Investment income
total $7,843 · related or exempt $7,843
-
6a · Gross rents
real property $9,298
-
6c · Rental income or loss
real property $9,298
-
6d · Net rental income or loss
total $9,298 · related or exempt $9,298
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $142,500 · program services $71,250 · management and general $71,250
-
7 · Other salaries and wages
total $162,245 · program services $162,245
-
9 · Other employee benefits
total $22,407 · program services $13,996 · management and general $8,411
-
10 · Payroll taxes
total $22,696 · program services $17,525 · management and general $5,171
-
11b · Fees: legal
total $21,705 · program services $21,705
-
11c · Fees: accounting
total $3,765 · management and general $3,765
-
12 · Advertising and promotion
total $42,029 · program services $42,029
-
13 · Office expenses
total $10,076 · management and general $10,076
-
16 · Occupancy
total $66,751 · management and general $66,751
-
22 · Depreciation, depletion and amortization
total $46,251 · program services $46,251
-
23 · Insurance
total $6,735 · management and general $6,735
-
24a · Other expenses: COMMUNITY SUPPORT
total $293 · program services $293
-
24b · Other expenses: REPAIR AND MAINTENANCE
total $5,775 · program services $2,679 · management and general $3,096
-
24c · Other expenses: MERCHANT FEES
total $1,748 · management and general $1,748
-
24d · Other expenses: MISC
total -$208 · management and general -$208
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $639,583 · end of year $409,480
-
7 · Other notes and loans receivable
beginning of year $4,924,923 · end of year $4,850,917
-
8 · Inventories for sale or use
beginning of year $167,762 · end of year $247,781
-
10a · Land, buildings and equipment: cost or other basis
$7,012,010
-
10b · Land, buildings and equipment: accumulated depreciation
$140,337
-
10c · Land, buildings and equipment, net
beginning of year $6,907,594 · end of year $6,871,673
-
15 · Other assets
beginning of year $4,658 · end of year $4,658
-
17 · Accounts payable and accrued expenses
beginning of year $4,803 · end of year $2,959
-
23 · Secured mortgages and notes payable
beginning of year $2,016,720 · end of year $1,842,714
-
24 · Unsecured notes and loans payable
beginning of year $11 · end of year $11
-
27 · Net assets without donor restrictions
beginning of year $10,622,986 · end of year $10,538,825
Mission and programs · 2024
Mission
TO STRENGTHEN AND ENHANCE ECONOMIC DEVELOPMENT IN MARION
-
ESTABLISH RELATIONSHIPS WITH POTENTIAL NEW BUSINESSES TO MOVE INTO MARION
Expenses $186,642 · Revenue $229,756
-
FACILITATE RELATIONSHIPS BETWEEN EXISTING BUSINESSES AND THE CITY OF MARION
Expenses $186,642 · Revenue $229,756
-
COMMUNITY AND EDUCATIONAL OUTREACH THROUGH PURCHASE, RENOVATION AND SALE OF HOMES.
Expenses $4,689
-
TRANSITION BARE FARMLAND INTO SHOVEL READY COMMERCIAL PROPERTY TO FACILITATE ECONOMIC GROWTH IN MARION
Revenue $11,323
As filed on the 2024 return.
Listed in Part VII
-
Emily KaiserEMILY KAISER
INCOMING BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Kevin HuppKEVIN HUPP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Eric SchmittERIC SCHMITT
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Brian GibbsBRIAN GIBBS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Janelle BrouwerJANELLE BROUWER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mary RathjeMARY RATHJE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Brian RosteckBRIAN ROSTECK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Nicole CavanahNICOLE CAVANAH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Isaiah BorelISAIAH BOREL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tom BrownTOM BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Nick AbouassalyNICK ABOUASSALY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jill AckermanJILL ACKERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Amy KortmeyerAMY KORTMEYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Greg SmithGREG SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tyler McCarvilleTYLER MCCARVILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Chad PelleyCHAD PELLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kyle MartinKYLE MARTIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ryan WallerRYAN WALLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Steve NeighborSTEVE NEIGHBOR
OUTGOING BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Mark SeckmanMARK SECKMAN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 45
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 cash amount reported
ECONOMIC DEV
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 3 June 2025
- IRS schema version
- 2024v5.1
- Source object
- 202541609349300639
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.