Danville-Boyle County Economic Develpment Partnership Inc
- Assets
- $268.0k
- Revenue
- $419.8k
- Investments
- $0.0
- Employees
- 13
- Location
- Danville, KY
- Founding
- 09/1998
- Data as of
- 06/2021
- EIN
- 31-1523317
Organization Overview
Danville-Boyle County Economic Develpment Partnership Inc is located in Danville, KY. The organization was established in 1998. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Danville-Boyle County Economic Develpment Partnership Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Danville-Boyle County Economic Develpment Partnership Inc 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 06/2021, Danville-Boyle County Economic Develpment Partnership Inc generated $419.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $365.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (10.3%) per year over the past 6 years. 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
PROMOTE AND FOSTER AN ENVIROMENT FOR ECONOMIC DEVELOPMENT IN BOYLE COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE LOCAL COMMUNITY VIA COMMUNICATION WITH VARIOUS INDIVIDUALS AND BUSINESSES ACROSS THE COUNTRY. TRY TO "SELL" THE CURRENT COMMUNITY TO ENTICE BUSINESS TO RELOCATE OPERATIONS TO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jody Lassiter President/ceo | 45 | $115,850 | |
John Albright Vice Chairman | OfficerTrustee | 1 | $0 |
Alan Turbyfill Treasurer | OfficerTrustee | 1 | $0 |
Marty Gibson Chairman | OfficerTrustee | 1 | $0 |
Mike Perros Secretary | OfficerTrustee | 1 | $0 |
Tom Ellis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $12,456 |
| Government grants | $189,663 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $418,356 |
| Total Program Service Revenue | $0 |
| Investment income | $122 |
| 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 | $419,814 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $188,994 |
| Pension plan accruals and contributions | $4,697 |
| Other employee benefits | $35,398 |
| Payroll taxes | $11,814 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,608 |
| Advertising and promotion | $0 |
| Office expenses | $174 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,800 |
| Travel | $283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,684 |
| All other expenses | $6,490 |
| Total functional expenses | $364,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $267,974 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $267,974 |
| Accounts payable and accrued expenses | $7,411 |
| 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 | $33,100 |
| Total liabilities | $40,511 |
| Net assets without donor restrictions | $227,463 |
| Net assets with donor restrictions | $0 |
| 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 | $267,974 |
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