Ogden Industrial Development Corporation
- Assets
- $5.3m
- Revenue
- $497.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Ogden, UT
- Founding
- 12/1971
- Data as of
- 12/2023
- EIN
- 23-7169725
Organization Overview
Ogden Industrial Development Corporation is located in Ogden, UT. The organization was established in 1971. 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. Ogden Industrial Development Corporation 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 12/2023, Ogden Industrial Development Corporation generated $497.4k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $35.4k during the year ending 12/2023. While expenses have increased by 15.9% per year over the past 5 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
ECONOMIC DEVELOPMENT IN WEBER COUNTY UTAH
Describe the Organization's Program Activity:
Part 3 - Line 4a
OBE VISION LLC CONTINUED TO DEVELOP COMMERCIAL AND INDUSTRIAL PROPERTIES IN THE OGDEN BUSINESS EXCHANGE PROJECT AREA. OIDC LOAN TO OBE WAS PAID OFF IN MARCH 2022 BUT OBE CONTINUES TO DEVELOP PROPERTIES IN THE PROJECT AREA.
OIDC GAVE $100,000 TO THE OGDEN EMERGENCY LOAN FUND DURING 2020 WHICH WAS USED TO HELP BUSINESSES DURING THE COVID 19 PANDEMIC. THE DONATION BECAME PART OF AN ONGOING ROTATING LOAN FUND THAT CONTINUES TO BE ADMINISTERED BY OGDEN CITY.
OIDC HAS HELD DISCUSSIONS WITH WEBER STATE UNIVERSITY REGARDING ASSISTANCE IN FUNDING A SECURE INFORMATION SERVICES FACILITY THAT WOULD BE USED BY DEFENSE CONTRACTORS IN SUPPORTING THE MISSION OF NEARBY HILL AIR FORCE BASE. THE FACILITY WOULD BE LOCATED IN DOWNTOWN OGDEN UTAH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Slade Opheikens President | OfficerTrustee | 0 | $0 |
Scott Parkinson Vice President | OfficerTrustee | 0 | $0 |
Ed Kleyn Secretary | OfficerTrustee | 0 | $0 |
Zane Froerer Treasurer | OfficerTrustee | 0 | $0 |
Rick Fairbanks Past President | OfficerTrustee | 0 | $0 |
John E Lindquist Trustee | Trustee | 0 | $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 | $0 |
| Investment income | $497,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $497,370 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,135 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $134 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $35,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,299 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,248,703 |
| Investments—other securities | $0 |
| Investments—program-related | $70,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,334,002 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $5,334,002 |
| 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 | $5,334,002 |