Fairfield Economic Development Association Incorporated

Organization Overview

Fairfield Economic Development Association Incorporated is located in Fairfield, IA. The organization was established in 1979. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Fairfield Economic Development Association Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairfield Economic Development Association Incorporated 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 06/2023, Fairfield Economic Development Association Incorporated generated $125.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $165.5k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO SUSTAIN AND IMPROVE THE QUALITY OF LIFE OF THE CITIZENS OF FAIRFIELD, IOWA THROUGH TARGETED ECONOMIC DEVELOPMENT INITIATIVES AND PROGRAMS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE COST SHARING OF ENTREPRENEURIAL SERVICES FOR BUSINESS DEVELOPMENT.


ORGANIZATION SUPPORTS FAIRFIELD COMMUNITY THROUGH LAND SALES AND DONATIONS.


HONOR A TEACHER FROM THE FAIRFIELD COMMUNITY SCHOOL DISTRICT FOR THEIR OUTSTANDING PERFORMANCE AND ACHIEVEMENTS.


TO ENCOURAGE YOUNG ADULTS TO RETURN TO FAIRFIELD TO SETTLE AND BEGIN THEIR LIVES IN THE AREA.


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Board, Officers & Key Employees

Name (title)Compensation
Curtis Smith
President
$0
Aaron Kness
Treasurer
$0
Joe Stever
Director
$0
Roger Vorhies
Director
$0
Alissa Doyle-Ward
Director
$0
Ken Ross
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$80,700
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$80,700
Total Program Service Revenue$0
Investment income $4,705
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $36,234
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $3,120
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $125,439

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