Regional Growth Partnership Inc
- Assets
- $2.0m
- Revenue
- $3.6m
- Investments
- $420.6k
- Employees
- 17
- Location
- Toledo, OH
- Founding
- 08/1996
- Data as of
- 12/2022
- EIN
- 34-1823833
Organization Overview
Regional Growth Partnership Inc is located in Toledo, OH. The organization was established in 1996. 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. As of 12/2022, Regional Growth Partnership Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Growth Partnership Inc 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, Regional Growth Partnership Inc generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE EMPLOYMENT AND THE CAPITAL INVESTMENT NEEDED TO SUSTAIN ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KEY TO THE EXEMPT PURPOSE OF THE ORGANIZATION IS THE CREATION OF NEW EMPLOYMENT OPPORTUNITIES AND TO MAKE A SIGNIFICANT CONTRIBUTION TO ECONOMIC DEVELOPMENT IN NORTHWEST OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Baumhower Board Of Directors | Trustee | 1 | $0 |
Dave Waterman Board Of Directors | Trustee | 1 | $0 |
Robin Whitney Board Of Directors | Trustee | 1 | $0 |
Thomas Winston Board Of Directors | Trustee | 1 | $0 |
Danny Woodcock Board Of Directors | Trustee | 1 | $0 |
Bill Balzer Board Of Directors | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,587,270 |
| Investment income | $2,210 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,056 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,577,424 |
| 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. | $238,144 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,697,527 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $262,149 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,400 |
| Advertising and promotion | $368,940 |
| Office expenses | $11,942 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,011 |
| Travel | $163,278 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $165,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,518 |
| Insurance | $0 |
| All other expenses | $14,143 |
| Total functional expenses | $3,713,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,168,984 |
| Pledges and grants receivable | $139,475 |
| Accounts receivable, net | $154,495 |
| 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 | $46,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $420,627 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,695 |
| Total assets | $2,033,203 |
| Accounts payable and accrued expenses | $118,406 |
| Grants payable | $0 |
| Deferred revenue | $16,667 |
| 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 | $105,267 |
| Total liabilities | $240,340 |
| Net assets without donor restrictions | $1,710,553 |
| Net assets with donor restrictions | $82,310 |
| 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 | $2,033,203 |