Cushing Economic Developement Foundation Inc
- Assets
- $377.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cushing, OK
- Founding
- 02/1973
- Data as of
- 12/2021
- EIN
- 23-7255402
Organization Overview
Cushing Economic Developement Foundation Inc is located in Cushing, OK. The organization was established in 1973. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cushing Economic Developement Foundation 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 12/2021, Cushing Economic Developement Foundation Inc generated $115.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $136.6k during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3
THE FOUNDATION MAINTAINED LAND FOR SALE TO HELP FOSTER ECONOMIC GROWTH WITHIN THE CITY OF CUSHING, OKLAHOMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Johnson Executive Dir. | 40 | $86,250 | |
Derrick Griffith Vice Chair | 0 | $0 | |
Dena Floyd Secretary | 0 | $0 | |
Jeff Lane Chairman | 0 | $0 | |
Kelly Young Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $14,717 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $100,738 |
| Total Revenue | $115,455 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $92,962 |
| Professional fees and other payments to independent contractors | $5,031 |
| Occupancy, rent, utilities, and maintenance | $1,299 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $37,345 |
| Total expenses | $136,637 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $299,087 |
| Other assets | $0 |
| Total assets | $377,420 |
| Total liabilities | $2,170 |
| Net assets or fund balances | $375,250 |
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