Richland County Development Corporation
- Assets
- $314.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Olney, IL
- Founding
- 01/1988
- Data as of
- 06/2022
- EIN
- 37-1201502
Organization Overview
Richland County Development Corporation is located in Olney, IL. The organization was established in 1988. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richland County Development Corporation 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 06/2022, Richland County Development Corporation generated $180.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $149.6k during the year ending 06/2022. While expenses have increased by 7.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO ENCOURAGE AND ASSIST IN THE DEVELOPMENT OF ECONOMIC, EDUCATIONAL AND CHARITABLE ACTIVITIES OF RICHLAND COUNTY, ILLINOIS AND ITS' SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Mcclain Exec Director | 40 | $79,170 | |
Bruce Peters President | 2 | $0 | |
Mark Lambird Vice President | 2 | $0 | |
Dan Eagleson Director | 2 | $0 | |
Rodney Ranes Director | 2 | $0 | |
Michael Mckinney Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $167,904 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $378 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $12,000 |
| Total Revenue | $180,282 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $85,725 |
| Professional fees and other payments to independent contractors | $5,032 |
| Occupancy, rent, utilities, and maintenance | $10,721 |
| Printing, publications, postage, and shipping | $239 |
| Other expenses | $47,856 |
| Total expenses | $149,573 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $259,985 |
| Other assets | $0 |
| Total assets | $313,973 |
| Total liabilities | $2,404 |
| Net assets or fund balances | $311,569 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Richland County Development Corporation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Richland Memorial Hospital Inc Olney, IL PURPOSE: PROGRAM SERVICES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iec Hotel Corporation West Des Moines, IA | $103,529,195 | $16,531,928 |
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Black Hawk County Gaming Assoc Waterloo, IA | $18,246,475 | $5,898,126 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Evansville Vanderburgh County Convention & Visitors Bureau Inc Evansville, IN | $5,490,585 | $3,551,749 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |