Scarborough Economic Development Corp

Organization Overview

Scarborough Economic Development Corp is located in Scarborough, ME. The organization was established in 1988. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Scarborough Economic Development Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scarborough Economic Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Scarborough Economic Development Corp generated $261.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $259.8k during the year ending 06/2022. While expenses have increased by 1.5% 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF SEDCO IS TO SUPPORT ECONOMIC AND BUSINESS DEVELOPMENT TO IMPROVE THE QUALITY OF LIFE IN SCARBOROUGH, MAINE, BY EXPANDING THE TOWNS TAX AND EMPLOYMENT BASE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEDCO ENCOURAGES AND ASSISTS THE PHYSICAL LOCATION OF BUSINESSES WITHIN THE TOWN OF SCARBOROUGH, MAINE. IN 2021/2022, 98 LOCAL AND POTENTIAL LOCAL BUSINESSES WERE PROVIDED WITH DIRECT ASSISTANCE BY THE TOWN AND APPROXIMATELY 850 OTHERS WERE PROVIDED WITH VARIOUS ASSISTANCE.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Karen Martin
President
$113,088
Andrea Killiard
Chairperson
$0
Jonathan Crasnick
Vice Chair
$0
James Hartley
Treasurer
$0
Rick Shinay
Secretary/clerk
$0
Kevin Freeman
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $253,703
All other contributions, gifts, grants, and similar amounts not included above$8,087
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$261,790
Total Program Service Revenue$0
Investment income $4
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $261,794

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Scarborough Economic Development Corp has recieved totaling $250.

Awarding OrganizationAmount
Saco & Biddeford Savings Charitable Foundation

Saco, ME

PURPOSE: GENERAL OPERATING SUPPORT

$250
View Grant Recipient Profile

Create an account to unlock the data you need.

or