Ascension Economic Development Corporation
- Assets
- $1.3m
- Revenue
- $530.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Gonzales, LA
- Founding
- Data as of
- 12/2021
- EIN
- 30-0340663
Organization Overview
Ascension Economic Development Corporation is located in Gonzales, LA. As of 12/2021, Ascension Economic Development Corporation employed 3 individuals. Ascension Economic 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 12/2021, Ascension Economic Development Corporation generated $530.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $453.9k during the year ending 12/2021. While expenses have increased by 0.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DIVERSIFICATION OF ASCENSION PARISH ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ECONOMIC DEVELOPMENT IN ASCENSION PARISH, LOUISIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Macarthur President & CEO | Officer | 40 | $138,417 |
Dwight Poirrier Chairman | Officer | 0 | $0 |
Kevin Schexnayder Board Member | Officer | 0 | $0 |
Robert Burgess Board Member | Trustee | 0 | $0 |
Janet Britton Board Member | Trustee | 0 | $0 |
Bill Dawson Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $529,535 |
| 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 | $529,535 |
| Total Program Service Revenue | $0 |
| Investment income | $1,258 |
| 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 | $530,793 |
| 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. | $138,417 |
| Compensation of current officers, directors, key employees. | $20,763 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,889 |
| Pension plan accruals and contributions | $12,140 |
| Other employee benefits | $35,690 |
| Payroll taxes | $18,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,579 |
| Office expenses | $30,987 |
| Information technology | $7,026 |
| Royalties | $0 |
| Occupancy | $563 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,438 |
| Interest | $8,542 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,374 |
| Insurance | $7,679 |
| All other expenses | $0 |
| Total functional expenses | $453,857 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $996,894 |
| 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 | $338,060 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,334,954 |
| Accounts payable and accrued expenses | $444 |
| 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 | $154,199 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,048 |
| Total liabilities | $171,691 |
| Net assets without donor restrictions | $822,979 |
| Net assets with donor restrictions | $340,284 |
| 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 | $1,334,954 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ascension Economic Development Corporation has recieved totaling $9,875.
| Awarding Organization | Amount |
|---|---|
Greater Baton Rouge Economic Partnership Inc Baton Rouge, LA PURPOSE: ECONOMIC DEVELOPMENT | $9,875 |
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Columbia College Columbia, MO | $267,475,036 | $84,570,180 |
Chi St Vincent Medical Group Hot Springs Hot Springs, AR | $30,299,608 | $78,876,296 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |