Community And Economic Development Associates
- Assets
- $1.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 52
- Location
- Chatfield, MN
- Founding
- 01/1987
- Data as of
- 12/2022
- EIN
- 41-1560462
Organization Overview
Community And Economic Development Associates is located in Chatfield, MN. The organization was established in 1987. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Community And Economic Development Associates employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community And Economic Development Associates 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, Community And Economic Development Associates generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 13.0% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PEOPLE AND COMMUNITIES IN RURAL AREAS CONTROL THEIR OWN ECONOMIC DESTINIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES REHABILITATION GRANT ASSISTANCE AND BUSINESS AND ECONOMIC DEVELOPMENT ASSISTANCE TO 40 COMMUNITIES AND 7 COUNTIES. IT ASSISTED IN APPLICATIONS FOR GRANTS AND LOANS FOR LOCAL BUSINESSES AND GOVERNMENT INFRASTRUCTURE, AND COORDINATED VARIOUS COOPERATIVE EFFORTS BETWEEN COMMUNITIES AND BUSINESSES WITHIN MINNESOTA, IOWA, AND WISCONSIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Krambeer Director | Trustee | 1 | $0 |
Dwayne Lee Director | Trustee | 1 | $0 |
Erin Sparks Vice-Chair | Trustee | 1 | $0 |
Jimmie-John King Director | Trustee | 1 | $0 |
Becca Sell Treasurer | Trustee | 1 | $0 |
Michael P Tuohy Chair | OfficerTrustee | 1 | $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 | $197,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $197,700 |
| Total Program Service Revenue | $2,400,837 |
| Investment income | $7,868 |
| 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 | $2,607,909 |
| 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. | $151,497 |
| Compensation of current officers, directors, key employees. | $15,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,043,795 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $396,633 |
| Payroll taxes | $0 |
| Fees for services: Management | $79,224 |
| Fees for services: Legal | $201 |
| Fees for services: Accounting | $10,347 |
| 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 | $1,052 |
| Information technology | $14,641 |
| Royalties | $0 |
| Occupancy | $32,117 |
| Travel | $53,931 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,790 |
| Insurance | $25,138 |
| All other expenses | $722 |
| Total functional expenses | $2,889,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,003,519 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,407 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $142,581 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,265 |
| Net Land, buildings, and equipment | $31,159 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $162,927 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,428,858 |
| Accounts payable and accrued expenses | $58,542 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $98,852 |
| Other liabilities | $22,695 |
| Total liabilities | $180,089 |
| Net assets without donor restrictions | $1,085,842 |
| Net assets with donor restrictions | $162,927 |
| 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 | $1,428,858 |