Allen Economic Development Group
- Assets
- $364.3k
- Revenue
- $479.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Lima, OH
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 34-1833790
Organization Overview
Allen Economic Development Group is located in Lima, OH. The organization was established in 1999. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2021, Allen Economic Development Group employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allen Economic Development Group 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, Allen Economic Development Group generated $479.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $449.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 7 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
ECONOMIC GROWTH AND DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND STIMULATE ECONOMIC GROWTH AND DEVELOPMENT IN LIMA, ALLEN COUNTY REGION THROUGH THE PERFORMANCE OF ECONOMIC DEVELOPMENT SERVICES FOR VARIOUS GOVERNMENT ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Stratton CEO | Officer | 40 | $107,791 |
Tim Turnwald Secretary/treasurer | OfficerTrustee | 1 | $0 |
Todd Sutton Board Chair | OfficerTrustee | 1 | $0 |
David Berger Trustee | Trustee | 1 | $0 |
Howard Violet Trustee | Trustee | 1 | $0 |
Cory Noonan Trustee | 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 | $412,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $412,788 |
| Total Program Service Revenue | $66,000 |
| Investment income | $0 |
| 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 | $479,774 |
| 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. | $114,436 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,019 |
| Pension plan accruals and contributions | $5,467 |
| Other employee benefits | $27,884 |
| Payroll taxes | $18,598 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,850 |
| Fees for services: Accounting | $25,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $950 |
| Advertising and promotion | $29,609 |
| Office expenses | $16,390 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,966 |
| Travel | $4,022 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,831 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,881 |
| Insurance | $3,471 |
| All other expenses | $0 |
| Total functional expenses | $449,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350,274 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,500 |
| 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 | $1,769 |
| Net Land, buildings, and equipment | $10,754 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $364,297 |
| Accounts payable and accrued expenses | $12,179 |
| 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 | $12,179 |
| 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 | $352,118 |
| Total liabilities and net assets/fund balances | $364,297 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Allen Economic Development Group has recieved totaling $180,000.
| Awarding Organization | Amount |
|---|---|
Greater Lima Region Inc Lima, OH PURPOSE: PROGRAM AND OPERATIONAL FUNDING | $180,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education At Work Inc Indianapolis, IN | $7,418,747 | $27,265,167 |
Eleven Fifty Academy Inc Indianapolis, IN | $2,885,301 | $14,569,317 |
Newton Services Foundation Inc Flint, MI | $3,036,249 | $10,428,739 |
Council For Adult And Experiental Learning Indianapolis, IN | $4,495,606 | $4,303,081 |
Van Andel Institute Graduate School Grand Rapids, MI | $1,492,760 | $4,853,861 |
Kelley Executive Education Foundation Inc Bloomington, IN | $1,125,624 | $3,371,150 |
Education And Training Connection Midland, MI | $2,969,193 | $3,353,333 |
Columbus Literacy Council Columbus, OH | $1,481,733 | $3,063,188 |
Evansville Plumbers Apprentice Training Trust Fund Evansville, IN | $3,497,630 | $2,319,217 |
Regional Learning Alliance Cranberry Township, PA | $11,928,887 | $1,971,731 |
Inforum Detroit, MI | $3,977,241 | $2,035,446 |
Beyond Literacy Philadelphia, PA | $1,866,568 | $2,112,475 |