Elmore County Economic Development Authority
- Assets
- $1.0m
- Revenue
- $453.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Wetumpka, AL
- Founding
- 03/2003
- Data as of
- 09/2022
- EIN
- 33-1021258
Organization Overview
Elmore County Economic Development Authority is located in Wetumpka, AL. The organization was established in 2003. 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. Elmore County Economic Development Authority 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 09/2022, Elmore County Economic Development Authority generated $453.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $508.6k during the year ending 09/2022. While expenses have increased by 9.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT OF ELMORE COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT OF ELMORE COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cary Cox Executive Director | Trustee | 40 | $95,104 |
Lisa Van Wagner Project Manager | Trustee | 40 | $55,146 |
Rhett Smith Treasurer | OfficerTrustee | 0 | $0 |
Ann Harper Vice Chairman | OfficerTrustee | 0 | $0 |
Art Faulkner Chairman | OfficerTrustee | 0 | $0 |
Sharon Alexander Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $429,335 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $429,335 |
| Total Program Service Revenue | $0 |
| Investment income | $96 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,000 |
| 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 | $453,431 |
| 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. | $150,249 |
| Compensation of current officers, directors, key employees. | $37,562 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,853 |
| Payroll taxes | $11,771 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,830 |
| Fees for services: Accounting | $11,507 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $220,163 |
| Advertising and promotion | $2,416 |
| Office expenses | $8,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,490 |
| Travel | $5,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,211 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,088 |
| Insurance | $7,207 |
| All other expenses | $0 |
| Total functional expenses | $508,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,690 |
| Savings and temporary cash investments | $27,449 |
| 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 | $28,213 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $822,516 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,015,868 |
| Accounts payable and accrued expenses | $15,400 |
| 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 | $1,052,018 |
| Total liabilities | $1,067,418 |
| Net assets without donor restrictions | $0 |
| 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 | -$51,550 |
| Total liabilities and net assets/fund balances | $1,015,868 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |