Conway Development Corporation

Organization Overview

Conway Development Corporation is located in Conway, AR. The organization was established in 1969. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Conway Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Conway Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Conway Development Corporation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 6.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

ENHANCE INDUSTRY OPPORTUNITIES IN CONWAY, AR THROUGH ECONOMIC DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CONWAY DEVELOPMENT CORPORATION RESPONDED TO SITE SELECTION AND EXPANSION REQUESTS MONTHLY ON BEHALF OF THE CITY OF CONWAY AND FAULKNER COUNTY. THE CDC MANAGED ITS LAND PORTFOLIO AND ASSETS FOR THE BENEFIT OF THE COMMUNITY AND FUTURE ECONOMIC DEVELOPMENT OPPORTUNITIES. CDC STAFF REPRESENTED THE ORGANIZATION AND COMMUNITY IN A NUMBER OF SETTINGS FACILITATING ECONOMIC GROWTH FOR CONWAY AREA RESIDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Brad Lacy
Secretary/treasurer
$0
Bill Adkisson
Chairman
$0
Jerry Adams
Vice Chairman
$0
Ronnie Williams
Director
$0
Eddie Glover
Director
$0
Mark Ferguson
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$100,500
Fundraising events$0
Related organizations$0
Government grants $87,964
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$188,464
Total Program Service Revenue$1,039,468
Investment income $6,549
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $259,419
Net Gain/Loss on Asset Sales $1,114,775
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,618,276

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