Montgomery Economic Development Corporation
- Assets
- $78.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, IL
- Founding
- 02/2006
- Data as of
- 12/2021
- EIN
- 20-0734800
Organization Overview
Montgomery Economic Development Corporation is located in Montgomery, IL. The organization was established in 2006. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Economic 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, Montgomery Economic Development Corporation generated $161.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $150.5k during the year ending 12/2021. While expenses have increased by 1.1% 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.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
NONE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlene Coulombe Executive Di | 0 | $0 | |
Jason Hanson Medc Vice Pr | 0 | $0 | |
George Hopman Secretary | 0 | $0 | |
Jonathan P Shedden Treasurer | 0 | $0 | |
Doug Marecek Chairman | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,600 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $33 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $28,407 |
| Total Revenue | $161,040 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $105,859 |
| Professional fees and other payments to independent contractors | $4,568 |
| Occupancy, rent, utilities, and maintenance | $19,272 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $20,813 |
| Total expenses | $150,512 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $78,353 |
| Other assets | $0 |
| Total assets | $78,624 |
| Total liabilities | $30,073 |
| Net assets or fund balances | $48,551 |
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|---|---|---|
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Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
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Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
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