Madelia Area Redevelopment Corporation
- Assets
- $22.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Madelia, MN
- Founding
- 05/2009
- Data as of
- 12/2022
- EIN
- 26-3537812
Organization Overview
Madelia Area Redevelopment Corporation is located in Madelia, MN. The organization was established in 2009. 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. Madelia Area Redevelopment 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 12/2022, Madelia Area Redevelopment Corporation generated $48.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $94.6k during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 7 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION WAS FORMED ON SEPTEMBER 19, 2008. IN THIS SHORT TIME OF EXISTENCE, A FOUNDATION WAS DEVELOPED FOR THE ORGANIZATION TO ACCOMPLISH ITS MISSION OF INCREASING THE ECONOMIC AND TAX BASE OF EASTERN WATONWAN COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sybil B Christensen Secretary/tr | 1 | $0 | |
Glen Christensen President | 4 | $0 | |
Christine Fischer Vice-Preside | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $25 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $48,025 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $595 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $74,538 |
| Total expenses | $94,583 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $22,072 |
| Other assets | $0 |
| Total assets | $22,072 |
| Total liabilities | $0 |
| Net assets or fund balances | $22,072 |