West Virginia Economic Development Council Inc
- Assets
- $196.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Charleston, WV
- Founding
- 09/2005
- Data as of
- 12/2022
- EIN
- 20-3040385
Organization Overview
West Virginia Economic Development Council Inc is located in Charleston, WV. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. West Virginia Economic Development Council Inc 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 12/2022, West Virginia Economic Development Council Inc generated $40.0k 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 (5.1%) each year. All expenses for the organization totaled $42.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. 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
2022
Describe the Organization's Program Activity:
Part 3
WVEDC SERVES ITS MEMBER'S BY PROVIDING NETWORKING OPPORTUNITES,BRINGING NOTED SPEAKERS TO THE MEMBERSHIP, OFFERING EDUCATIONALSCHOLARSHIPS AND EDUCATE FOR ECONOMIC DEVELOPMENT PROGRAMS AND FUNDING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christy Laxton President | 1 | $0 | |
David Lieving Vice President | 1 | $0 | |
Leasha Johnson Secretary/treasurer | 1 | $0 | |
Robert Morris Jr Board Member | 1 | $0 | |
Todd Hooker Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,440 |
| Total Program Service Revenue | $0 |
| Membership dues | $13,236 |
| Investment income | $4,250 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$46,955 |
| Other Revenue | $0 |
| Total Revenue | $39,971 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $2,000 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $38,200 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $85 |
| Other expenses | $2,645 |
| Total expenses | $42,930 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $190,904 |
| Other assets | $0 |
| Total assets | $196,904 |
| Total liabilities | $0 |
| Net assets or fund balances | $196,904 |