Valparaiso Economic Development Corporation
- Assets
- $38.8k
- Revenue
- $655.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Valparaiso, IN
- Founding
- 08/1984
- Data as of
- 12/2021
- EIN
- 31-1104871
Organization Overview
Valparaiso Economic Development Corporation is located in Valparaiso, IN. The organization was established in 1984. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Valparaiso 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 12/2021, Valparaiso Economic Development Corporation generated $655.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $478.0k during the year ending 12/2021. While expenses have increased by 8.1% 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
BUSINESS ATTRACTION AND RETENTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ACTIVITIES NECESSARY TO ENSURE BUSINESS ATTRACTION AND RETENTION WITHIN THE VALPARAISO AND PORTER COUNTY AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Clapp Chair | OfficerTrustee | 1 | $0 |
Lisa Kiger Vice Chair | OfficerTrustee | 1 | $0 |
Jon Schmaltz Secretary | OfficerTrustee | 1 | $0 |
Mike Jessen Treasurer | OfficerTrustee | 1 | $0 |
Rex Richards President | Officer | 10 | $0 |
Larry Moore Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $155,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $195,650 |
| Total Program Service Revenue | $0 |
| Investment income | $38 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $459,982 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,670 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,716 |
| 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 | $7,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,572 |
| Advertising and promotion | $121,903 |
| Office expenses | $7,098 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,859 |
| Travel | $7,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,605 |
| Interest | $218,391 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,668 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $478,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,528 |
| Savings and temporary cash investments | $4,791 |
| Pledges and grants receivable | $5,350 |
| 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 | $1,093 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $38,762 |
| Accounts payable and accrued expenses | $30 |
| 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 | $30 |
| Net assets without donor restrictions | $36,232 |
| Net assets with donor restrictions | $2,500 |
| 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 | $38,762 |
Grants Awarded
Over the last fiscal year, Valparaiso Economic Development Corporation has awarded $60,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Portage, IN PURPOSE: ECONOMIC DEVELOPMENT | $15,000 |
TOWN OF HEBRON PURPOSE: ECONOMIC DEVELOPMENT | $15,000 |
TOWN OF KOUTS PURPOSE: ECONOMIC DEVELOPMENT | $15,000 |
Chesterton, IN PURPOSE: economic development | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Evansville Vanderburgh County Convention & Visitors Bureau Inc Evansville, IN | $5,490,585 | $3,551,749 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |
Capitalplus Exchange Corporation Skokie, IL | $2,405,541 | $1,079,242 |