Economic Development Growth Enterprises Corporation

Organization Overview

Economic Development Growth Enterprises Corporation is located in Rome, NY. 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 12/2021, Economic Development Growth Enterprises Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Growth Enterprises Corporation 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 12/2021, Economic Development Growth Enterprises Corporation generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.4%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (17.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Economic Development Growth Enterprises Corporation has awarded 29 individual grants totaling $2,848,613. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE AND EXPAND BUSINESS, COMMUNITY AND EMPLOYMENT OPPORTUNITIES IN ONEIDA COUNTY, N.Y., AND ITS ENVIRONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION (EDGE) AND ITS SUBSIDIARY ARE INVOLVED IN ACTIVITIES DESIGNED TO IMPROVE AND EXPAND THE BUSINESS COMMUNITY AND EMPLOYMENT WITHIN ONEIDA COUNTY, N.Y., AND ITS ENVIRONS AND PROMOTE THE GENERAL ECONOMIC DEVELOPMENT OF THE AREA. A PRIMARY ACTIVITY OF EDGE IS THE ARRANGEMENT OF AND/OR PARTICIPATION IN FINANCING PACKAGES FOR LOCAL BUSINESSES, PRINCIPALLY THROUGH LOCAL BANKS, THE SMALL BUSINESS ADMINISTRATION, AND THE EMPIRE STATE DEVELOPMENT CORPORATION. IN ADDITION, EDGE PREPARES ECONOMIC DEVELOPMENT PLANS, PERFORMS RESEARCH, AND CARRIES OUT A UNIFIED MARKETING PROGRAM FOR THE PURPOSE OF ADVANCING ECONOMIC GROWTH IN ONEIDA COUNTY, N.Y., AND ITS ENVIRONS. A SIGNIFICANT PORTION OF EDGE'S REVENUE IS DERIVED FROM GOVERNMENT GRANTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hanson Aggregates
General Contractor
$482,701
Mcphee Electric
General Contractor
$436,996
Saunders Kahler Llp
Legal
$303,707
Ramboll Americas Engineering Solutions I
Engineering
$249,370
Atreg Inc
Other Contractual
$244,079
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$122,500
Fundraising events$149,250
Related organizations$0
Government grants $926,823
All other contributions, gifts, grants, and similar amounts not included above$388,916
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,587,489
Total Program Service Revenue$1,913,190
Investment income $16,768
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $82,784
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,664,365

Grants Awarded

Over the last fiscal year, Economic Development Growth Enterprises Corporation has awarded $141,000 in support to 3 organizations.

Grant RecipientAmount

SR SLOAN INC

PURPOSE: JOBS CREATION PROJECT GRANT

$104,000

HORN'S FAMILY FARM STORE

PURPOSE: JOBS CREATION PROJECT GRANT

$23,963

VALLEY SIGNS AND DESIGNS INC

PURPOSE: JOBS CREATION PROJECT GRANT

$13,037
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Economic Development Growth Enterprises Corporation has recieved totaling $12,500.

Awarding OrganizationAmount
New York State Technology Enterprise Corporation

Rome, NY

PURPOSE: 2022 LEADING EDGE AWARDS SPONSORSHIP AND GENERAL OPERATING SUPPORT

$12,500
View Grant Recipient Profile

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