The Economic Development Group Inc
- Assets
- $3.7m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 25
- Location
- Buffalo, NY
- Founding
- 12/2001
- Data as of
- 06/2023
- EIN
- 22-3781639
Organization Overview
The Economic Development Group Inc, operating under the name Northland Workforce Training Center, is located in Buffalo, NY. The organization was established in 2001. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. As of 06/2023, Northland Workforce Training Center employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northland Workforce Training Center 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 06/2023, Northland Workforce Training Center generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 51.9% each year . All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 49.5% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF NORTHLAND IS TO ADVANCE THE ECONOMIC WELL-BEING OF WESTERN NEW YORK BY DEVELOPING AND MAINTAINING A SKILLED AND DIVERSE WORKFORCE TO MEET THE NEEDS OF THE ADVANCED MANUFACTURING AND ENERGY SECTORS, WHILE PROVIDING OPPORTUNITIES TO JOB SEEKERS AS WELL AS PATHWAYS TO GAINFUL EMPLOYMENT, CAREER ADVANCEMENT AND ECONOMIC SUSTAINABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTHLAND HOUSES TWO CO-LOCATED TRAINING FACILITIES: THE ADVANCED MANUFACTURING TRAINING CENTER AND THE UTILITY OF THE FUTURE & CLEAN ENERGY TRAINING CENTER, TO INCREASE THE NUMBER AND QUALITY OF LOCAL CANDIDATES PREPARED FOR ENERGY AND ADVANCED MANUFACTURING CAREERS. NORTHLAND PROVIDES FOR-CREDIT, CERTIFICATE AND DEGREE PROGRAMS AS CORE OFFERINGS THROUGH ITS EDUCATIONAL PARTNERS, SUNY ALFRED STATE COLLEGE AND SUNY ERIE COMMUNITY COLLEGE, INCORPORATING EVIDENCE-BASED PLACEMENT STRATEGIES, SUCH AS CO-OPS, APPRENTICESHIPS AND INTERNSHIPS, AND AN EMPHASIS ON PERMANENT EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Elsenbeck Chair | OfficerTrustee | 1 | $0 |
Steve Finch Vice Chair | OfficerTrustee | 1 | $0 |
Kristin M Re Treasurer | OfficerTrustee | 1 | $0 |
Benjamin Rand Secretary | OfficerTrustee | 1 | $0 |
Chris Sansone Director | Trustee | 1 | $0 |
Randi Murphy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,200 |
| Related organizations | $0 |
| Government grants | $2,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,942,720 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,019,920 |
| Total Program Service Revenue | $272,830 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$7,812 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$17,132 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,857,078 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| 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. | $439,204 |
| Compensation of current officers, directors, key employees. | $87,841 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,293,582 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $294,395 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,855 |
| Fees for services: Accounting | $119,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,474 |
| Advertising and promotion | $149,636 |
| Office expenses | $19,338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $588,295 |
| Travel | $13,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,417 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,131 |
| Insurance | $22,619 |
| All other expenses | $39,755 |
| Total functional expenses | $4,454,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $915,214 |
| Savings and temporary cash investments | $2,011,486 |
| Pledges and grants receivable | $56,170 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,818 |
| Prepaid expenses and deferred charges | $165,738 |
| Net Land, buildings, and equipment | $507,317 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,524 |
| Total assets | $3,686,267 |
| Accounts payable and accrued expenses | $175,101 |
| Grants payable | $0 |
| Deferred revenue | $998,317 |
| 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 | $0 |
| Other liabilities | $23,524 |
| Total liabilities | $1,196,942 |
| Net assets without donor restrictions | $2,437,982 |
| Net assets with donor restrictions | $51,343 |
| 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 | $3,686,267 |
Grants Awarded
Over the last fiscal year, The Economic Development Group Inc has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BUFFALO UNITED FRONT INC PURPOSE: TO PROVIDE ADMINISTRATIVE SUPPORT, TECHNICAL ASSISTANCE AND DIRECT FUNDING | $5,000 |
BACK TO BASICS OUTREACH MINISTRIES INC PURPOSE: TO PROVIDE ADMINISTRATIVE SUPPORT, TECHNICAL ASSISTANCE AND DIRECT FUNDING | $20,000 |