Logan County Economic Development Corporation
- Assets
- $488.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Sterling, CO
- Founding
- 11/2006
- Data as of
- 12/2022
- EIN
- 26-0017546
Organization Overview
Logan County Economic Development Corporation is located in Sterling, CO. The organization was established in 2006. According to its NTEE Classification (S32) the organization is classified as: Rural 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. Logan County 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, Logan County Economic Development Corporation generated $195.4k 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 (9.1%) each year. All expenses for the organization totaled $178.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.2%) 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
STRENGTHENS THE ECONOMY THROUGH RETENTION & EXPANSION OF EXISTING BUSINESSES, NEW BUSINESS RECRUITMENT, RESOURCES POINT OF CONTACT AND DEVELOPMENT OF NEEDED INFRASTRUCTURE LIKE HOUSING AND WORKFORCE. OPERATE AND EXPANDING A COMMUNITY CO-WORKING SPACE TO PROVIDE FLEXIBLE WORK SPACE FOR STARTUP BUSINESSES, FREELANCERS, AND REMOTE WORKERS. BUILDING ENTREPRENEUR SUPPORT SYSTEMS BY CONTINUING TO HOST ANNUAL DEMYSTIFYING ENTREPRENEURSHIP WORKSHOP, HOSTING REGULAR MEET-UPS, AND PROVIDING RESOURCES FOR ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Kiel President | 1 | $0 | |
Jenny Sergi Secretary | 1 | $0 | |
Chip Powell Vice President | 1 | $0 | |
Andrew Fritzler Director | 0 | $0 | |
Wendy Jerman Director | 0 | $0 | |
Cade Reynolds Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $161,994 |
| Total Program Service Revenue | $32,022 |
| Membership dues | $0 |
| Investment income | $1,108 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $312 |
| Total Revenue | $195,436 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $116,675 |
| Professional fees and other payments to independent contractors | $2,594 |
| Occupancy, rent, utilities, and maintenance | $8,244 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $50,458 |
| Total expenses | $177,971 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $488,309 |
| Other assets | $0 |
| Total assets | $488,309 |
| Total liabilities | $1,655 |
| Net assets or fund balances | $486,654 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Logan County Economic Development Corporation has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Mile High United Way Inc Denver, CO PURPOSE: COVID | $25,000 |
The Colorado Health Foundation Denver, CO PURPOSE: GENERAL DONATION TO SUPPORT ORGANIZATION OR PROGRAM | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Icast Internationl Center For Appropriate & Sustanabl Technology Lakewood, CO | $9,165,224 | $20,236,331 |
Rural Enterprises Of Oklahoma Inc Durant, OK | $41,908,355 | $15,173,432 |
East Central Kansas Economic Opportunity Corp Ottawa, KS | $5,122,658 | $10,399,835 |
Central Oklahoma Economic Development District Shawnee, OK | $5,863,107 | $4,724,858 |
Dubois Community Project Inc Dubois, WY | $25,993 | $2,941 |
New Mexico Community Capital Albuquerque, NM | $12,754,152 | $2,840,640 |
Southern Arizona Land Trust Inc Tucson, AZ | $20,281,486 | $2,439,910 |
Native360 Loan Fund Inc Grand Island, NE | $7,395,095 | $2,498,904 |
The Blessing Projects Moran, WY | $225,465 | $598,592 |
Northwest Douglas County Economic Development Corporation Highlands Ranch, CO | $400,033 | $401,030 |
Granary Foundation Lyons, NE | $7,509,758 | $331,919 |
Southwest Tribal Fisheries Commission Inc Ignacio, CO | $746,144 | $339,492 |