Great River Economic Development Foundation
- Assets
- $773.6k
- Revenue
- $537.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Quincy, IL
- Founding
- 08/1979
- Data as of
- 12/2023
- EIN
- 37-1053827
Organization Overview
Great River Economic Development Foundation is located in Quincy, IL. The organization was established in 1979. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Great River Economic Development Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great River Economic Development Foundation 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, Great River Economic Development Foundation generated $537.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $418.5k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREDF PROMOTES ECONOMIC DEVELOPMENT IN THE QUINCY COMMUNITY AND PROVIDES PROFESSIONAL ASSISTANCE TO BUSINESSES WISHING TO LOCATE IN THE QUINCY AREA. THIS IS ACHIEVED THROUGH BUSINESS RETENTION/EXPANSION, TALENT ATTRACTION/RETENTION, AND WORKFORCE DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Moore President | 40 | $104,700 | |
Melanie Allen Director | Trustee | $0 | |
Eric Barnes Treasurer | OfficerTrustee | $0 | |
Chuck Bevelheimer Director | Trustee | $0 | |
Jeff Bottorff Director | Trustee | $0 | |
Jeff Van Camp Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $236,092 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $241,092 |
| Total Program Service Revenue | $174,052 |
| Investment income | $76,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,051 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $537,910 |
| 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 | $235,560 |
| Pension plan accruals and contributions | $11,594 |
| Other employee benefits | $37,598 |
| Payroll taxes | $18,357 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,989 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,930 |
| Travel | $8,627 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,369 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,175 |
| Insurance | $0 |
| All other expenses | $18,782 |
| Total functional expenses | $418,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,937 |
| Savings and temporary cash investments | $38,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,883 |
| 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 | $3,813 |
| Investments—publicly traded securities | $630,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,906 |
| Total assets | $773,587 |
| Accounts payable and accrued expenses | $168 |
| Grants payable | $0 |
| Deferred revenue | $90,732 |
| 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 | $15,906 |
| Total liabilities | $106,806 |
| Net assets without donor restrictions | $666,781 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $773,587 |