Steuben County Economic Development Corporation
- Assets
- $939.6k
- Revenue
- $464.5k
- Investments
- $0.0
- Employees
- 9
- Location
- Angola, IN
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 38-3690102
Organization Overview
Steuben County Economic Development Corporation is located in Angola, IN. The organization was established in 2006. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Steuben County Economic Development Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steuben County Economic 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 12/2021, Steuben County Economic Development Corporation generated $464.5k 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 (3.0%) each year. All expenses for the organization totaled $532.1k during the year ending 12/2021. 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
THE MISSION OF THE CORPORATION IS TO IMPROVE THE QUALITY OF LIFE FOR THE CITIZENS OF STEUBEN COUNTY, INDIANA, THROUGH ENHANCED EMPLOYMENT OPPORTUNITIES RESULTING FROM THE RESPONSIBLE GROWTH OF BUSINESS AND INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE STEUBEN COUNTY ECONOMIC DEVELOPMENT CORPORATION WAS ESTABLISHED BY AREA LEADERS FOR THE PURPOSE OF ASSISTING EXISTING INDUSTRIES TO REMAIN STABLE AND EXPAND, AND TO MARKET AND ATTRACT NEW FIRMS AND INVESTMENT TO THE COUNTY THROUGH THESE ECONOMIC DEVELOPMENT EFFORTS. THE ORGANIZATION ACHIEVES THIS THROUGH THE RECRUITMENT OF NEW INDUSTRY, RETENTION AND EXPANSION OF EXISTING INDUSTRY, AND GENERAL JOB PROMOTION AND DEVELOPMENT.
OTHER EXEMPT PURPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Berkes Director | Trustee | $0 | |
Mark Cowen Director | Trustee | $0 | |
Bert Elliott Director | Trustee | $0 | |
Dan Foster Director | Trustee | $0 | |
Bill Harter Director | Trustee | $0 | |
Mike Hasselman Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,250 |
| Investment income | $780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$153,373 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $464,534 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $201,340 |
| Pension plan accruals and contributions | $4,303 |
| Other employee benefits | $9,000 |
| Payroll taxes | $15,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $39,504 |
| Advertising and promotion | $9,146 |
| Office expenses | $66,091 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,373 |
| Travel | $3,633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,145 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,153 |
| Insurance | $7,016 |
| All other expenses | $0 |
| Total functional expenses | $532,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $645,017 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,293 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $939,626 |
| Accounts payable and accrued expenses | $27,476 |
| Grants payable | $0 |
| Deferred revenue | $3,250 |
| 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 | $30,726 |
| Net assets without donor restrictions | $714,976 |
| Net assets with donor restrictions | $193,924 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $908,900 |