Rifle Economic Development Corporation
- Assets
- $257.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rifle, CO
- Founding
- 09/2007
- Data as of
- 12/2023
- EIN
- 20-5780798
Organization Overview
Rifle Economic Development Corporation is located in Rifle, CO. The organization was established in 2007. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rifle 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 12/2023, Rifle Economic Development Corporation generated $157.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $105.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 9 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
2023
Describe the Organization's Program Activity:
Part 3
PURPOSE OF THE ORGANIZATION IS TO PROMOTE ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Langhorne President | 0 | $0 | |
Larry Stewart Vice President | 0 | $0 | |
Sally Brands Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,716 |
| Total Program Service Revenue | $0 |
| Membership dues | $30,000 |
| Investment income | $32,322 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $16,900 |
| Other Revenue | $0 |
| Total Revenue | $157,938 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $12,116 |
| Professional fees and other payments to independent contractors | $21,671 |
| Occupancy, rent, utilities, and maintenance | $33,000 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $38,178 |
| Total expenses | $104,965 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $197,919 |
| Other assets | $0 |
| Total assets | $257,001 |
| Total liabilities | $25,200 |
| Net assets or fund balances | $231,801 |