Worthington Regional Economic Development Corporation

Organization Overview

Worthington Regional Economic Development Corporation is located in Worthington, MN. The organization was established in 1985. 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. Worthington Regional Economic Development Corporation 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 12/2023, Worthington Regional Economic Development Corporation generated $113.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (19.7%) each year. All expenses for the organization totaled $63.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE WORTHINGTON AND NOBLES COUNTY AS THE AREA TO CONDUCT BUSINESS AND TO PROVIDE LEADERSHIP FOR GROWTH AND EXPANSION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT ACTIVITIES DESIGNED TO ENHANCE BUSINESS AND COMMUNITY IN THE GREATER WORTHINGTON AREA.


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Board, Officers & Key Employees

Name (title)Compensation
Katie Meyer
Treasurer
$0
Jill Cuperus
Director
$0
Tom Hanson
Director
$0
Melissa Gehl
Director
$0
Minilik Mersha
Director
$0
Paige Kinley
Director
$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$94,424
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$94,424
Total Program Service Revenue$0
Investment income $18,863
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 $113,287

Peer Organizations

Organization NameAssets
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Minneapolis, MN
$6,566,738
Wbd Inc
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$9,133,880
Minneapolis - St Paul Regional Economic Development Partnership
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$8,008,937
Greater Madison Convention & Visitor Bureau Inc
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$7,273,844
Center For Economic Inclusion
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$4,329,571
Madison Development Corporation
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$4,946,557
Wolf Run Village Inc
Watford City, ND
$4,378,888
Madison Region Economic Partnership Inc
Madison, WI
$3,733,917
Minnesota Business Finance Corporation
St Cloud, MN
$4,245,343
South Segment Community Development Corporation
Halliday, ND
$4,587,145
Fargo Moorhead Convention & Visitors Bureau Inc
Fargo, ND
$4,346,413
Rapid City Economic Development Foundation
Rapid City, SD
$2,494,984
Milwaukee Downtown Inc
Milwaukee, WI
$3,612,284
Four Bands Community Fund Inc
Eagle Butte, SD
$5,954,021
Nextstage
Bloomington, MN
$2,737,361
Grow South Dakota
Sisseton, SD
$9,966,587
Eau Claire Area Convention And Visitors Bureau Inc
Eau Claire, WI
$3,160,052
Emerging Prairie
Fargo, ND
$1,996,803
Destination Medical Center Economic Development Agency
Rochester, MN
$2,292,653
First American Capital Corporation Inc
Hales Corners, WI
$3,163,251
Dakota Business Lending
Fargo, ND
$2,699,017
Perry Economic Development Inc
Perry, IA
$1,890,621
Ames Convention & Visitors Bureau
Ames, IA
$2,246,760
New North Inc
Green Bay, WI
$1,851,408
Greater Bemidji Inc
Bemidji, MN
$2,353,418

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