Harrison County Economic Development Corporation
- Assets
- $9.4m
- Revenue
- $319.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Corydon, IN
- Founding
- 12/2004
- Data as of
- 12/2022
- EIN
- 20-1076473
Organization Overview
Harrison County Economic Development Corporation is located in Corydon, IN. The organization was established in 2004. 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. Harrison County Economic Development 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 12/2022, Harrison County Economic Development Corporation generated $319.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.6%) each year. All expenses for the organization totaled $341.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS A PUBLIC PRIVATE PARTNERSHIP THAT WORKS TO BUILD A BETTER ECONOMIC FUTURE IN HARRISON COUNTY THROUGH EFFECTIVE PLANNING, EDUCATION, AND THE GROWTH OF QUALITY EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION. SMALL BUSINESS SERVICES AND TRAINING ACTIVITIES WERE CONDUCTED AND ADDITIONAL TRAINING PROGRAMS WERE PROVIDED THROUGH OUR REGIONAL WORKFORCE BOARD, THE LOCALLY BASED LIFELONG LEARNING PROGRAM, AND THE ACT WORK READY COMMUNITIES PROGRAM. THE CORPORATION ALSO PERFORMS CUSTOMIZED TRAINING SUPPORT TO LOCAL EMPLOYERS TO IMPROVE THE SKILLS IN THE WORKPLACE.
SMALL BUSINESS ASSISTANCE. THE CORPORATIONS PROVIDES FINANCIAL SUPPORT TO SMALL BUSINESSES IN OUR COUNTY.
PROMOTION. PROMOTIONAL PROJECTS AND PROGRAMS ARE CONDUCTED FOR THE PURPOSE OF ATTRACTING NEW BUSINESSES TO LOCATE IN OUR COMMUNITY. WE ARE PARTNERS WITH A REGIONAL MARKETING GROUP THAT PROMOTES OUR REGION INTERNATIONALLY AND ALL AROUND THE UNITED STATES. THE PROMOTIONAL EFFORTS ARE TO TRY TO RECRUIT NEW BUSINESSES TO HARRISON COUNTY. ADDITIONAL BUSINESS PROMOTION IS CONDUCTED WITHIN OUR COMMUNITY BY KEEPING CONNECTIONS WITH OUR EXISTING BUSINESSES AND PROVIDING ASSISTANCE TO THE THEM SO THEY CAN GROW IN OUR COMMUNITY.
BUSINESS DEVELOPMENT. BUSINESS DEVELOPMENT ACTIVITIES ARE PERFORMED TO MAKE OUR COMMUNITY READY FOR NEW BUSINESSES TO LOCATE HERE. THE CORPORATION IS WORKING SPECIFICALLY TO DEVELOP TWO BUSINESS AREAS IN OUR COUNTY AND WE PROVIDE FINANCIAL ASSISTANCE TO PREPARE THIS PROPERTY FOR BUSINESS GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lett President | Trustee | 4 | $0 |
Donnie Hussung Treasurer | Trustee | 3 | $0 |
Steve Moore Board Member | Trustee | 2 | $0 |
Darrell Voelker Executive Director | Trustee | 40 | $0 |
Matt Schickel Vice President | Trustee | 2 | $0 |
Holli Castetter Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $352,844 |
| Investment income | $1,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$34,579 |
| 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 | $319,608 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $48,697 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $79,126 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,775 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $64,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,305 |
| All other expenses | $0 |
| Total functional expenses | $341,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,958 |
| Savings and temporary cash investments | $350,913 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $982,339 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,983,515 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,355,725 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,572,780 |
| Other liabilities | $0 |
| Total liabilities | $6,572,780 |
| Net assets without donor restrictions | $2,782,945 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,355,725 |