Daviess County Economic Development Foundation Inc is located in Washington, IN. The organization was established in 2004. 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. Daviess County Economic Development Foundation 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 12/2022, Daviess County Economic Development Foundation Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $815.2k during the year ending 12/2022. 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
EXCLUSIVELY TO BENEFIT, CARRY OUT, AND PERFORM THE EXCLUSIVELY CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES OF THE "SUPPORTED ORGANIZATION"
Describe the Organization's Program Activity:
Part 3 - Line 4a
JOB TRAINING & WORKFORCE DEVELOPMENT PROGRAMS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Eric Lane President | Trustee | 1 | $0 |
Tony Duncheon Vice-President | Trustee | 1 | $0 |
John Healy Treasurer | Trustee | 1 | $0 |
Dave Stowers Secretary | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $950,000 |
All other contributions, gifts, grants, and similar amounts not included above | $35,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $985,000 |
Total Program Service Revenue | $0 |
Investment income | $57,172 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $559,445 |
Net Gain/Loss on Asset Sales | -$162,905 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,463,139 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $21,030 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $29,156 |
Advertising and promotion | $14,059 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $123,898 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $56,136 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $208,523 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $815,162 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $541,496 |
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 | $17,597,167 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $2,679,193 |
Intangible assets | $0 |
Other assets | $2,000 |
Total assets | $20,819,856 |
Accounts payable and accrued expenses | $23 |
Grants payable | $0 |
Deferred revenue | $331,535 |
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 | $8,206,535 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $8,538,093 |
Net assets without donor restrictions | $12,276,337 |
Net assets with donor restrictions | $5,426 |
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 | $20,819,856 |