Alexandra Area Econmocy Development Commission
- Assets
- $985.8k
- Revenue
- $338.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Alexandria, MN
- Founding
- 02/1993
- Data as of
- 12/2022
- EIN
- 41-1670874
Organization Overview
Alexandra Area Econmocy Development Commission is located in Alexandria, MN. The organization was established in 1993. 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 12/2022, Alexandra Area Econmocy Development Commission employed 2 individuals. Alexandra Area Econmocy Development Commission 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 12/2022, Alexandra Area Econmocy Development Commission generated $338.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $412.5k during the year ending 12/2022. 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
THE ALEXANDRIA AREA ECONOMIC DEVELOPMENT COMMISSION IS ORGANIZED TO ASSIST MANUFACTURING AND OTHER BUSINESSES TO LOCATE OR EXPAND IN THE ALEXANDRIA MINNESOTA AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RESOURCES AND CAPITAL FOR BUSINESS AND COMMUNITY DEVELOPMENT IN THE ALEXANDRIA MINNESOTA AREA.
PROVIDE RESOURCES AND CAPITAL FOR BUSINESS AND COMMUNITY DEVELOPMENT IN THE ALEXANDRIA MINNESOTA AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Fernholz Executive Di | Officer | 40 | $125,000 |
Matthew Fischer Vice Preside | OfficerTrustee | $0 | |
Vicki Jodsaas Director | Trustee | $0 | |
Nicole Klimek President | OfficerTrustee | $0 | |
Joani Nelson Director | Trustee | $0 | |
Jeff Patience Director | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $325,337 |
| Investment income | $13,462 |
| 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 | $338,799 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $125,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,913 |
| Pension plan accruals and contributions | $4,467 |
| Other employee benefits | $24,808 |
| Payroll taxes | $10,742 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,155 |
| Advertising and promotion | $131,412 |
| Office expenses | $12,898 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,768 |
| Travel | $2,031 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,573 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,352 |
| All other expenses | $0 |
| Total functional expenses | $412,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,548 |
| Savings and temporary cash investments | $528,911 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,963 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $295,647 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,757 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $985,826 |
| Accounts payable and accrued expenses | $49,288 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,288 |
| Net assets without donor restrictions | $538,331 |
| Net assets with donor restrictions | $398,207 |
| 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 | $985,826 |