Rifle Economic Development Corporation
- Assets
- $263.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rifle, CO
- Founding
- 09/2007
- Data as of
- 12/2022
- 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 12/2022, Rifle Economic Development Corporation generated $102.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $96.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 8 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
PURPOSE OF THE ORGANIZATION IS TO PROMOTE ECONOMIC DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Johnson President | 5 | $0 | |
Tinker Ducio Director | 5 | $0 | |
Doug Goldsmith Director | 5 | $0 | |
Annick Pruett Secretary | 5 | $0 | |
Tyler Kelly Director | 0 | $0 | |
Michael Langhorne Board Member | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,079 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $25,064 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$5,478 |
| Other Revenue | $0 |
| Total Revenue | $102,665 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $32,472 |
| Professional fees and other payments to independent contractors | $2,831 |
| Occupancy, rent, utilities, and maintenance | $32,500 |
| Printing, publications, postage, and shipping | $108 |
| Other expenses | $18,451 |
| Total expenses | $96,362 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $141,306 |
| Other assets | $0 |
| Total assets | $263,544 |
| Total liabilities | $86,616 |
| Net assets or fund balances | $176,928 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Local First Arizona Foundation Phoenix, AZ | $3,232,104 | $5,988,087 |
Business Development Finance Corporation Tucson, AZ | $22,193,625 | $4,107,444 |
Phoenix Community Development And Investment Corporation Phoenix, AZ | $40,907,790 | $6,695,939 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Enterprise Center Of Johnson County Overland Park, KS | $1,026,412 | $1,656,304 |
Preferred Lending Partners Denver, CO | $1,354,948 | $1,342,208 |
Belay Enterprises Inc Aurora, CO | $3,858,910 | $1,974,052 |
West Community Economic Development Corporation Denver, CO | $2,372,449 | $847,271 |
Duncan Area Economic Development Foundation Duncan, OK | $17,794,309 | $1,169,335 |
Lifting Generations Inc Sandy, UT | $0 | $1,447,141 |
Mt Carmel Inc Kansas City, KS | -$1,934,457 | $522,134 |