Perry Economic Development Inc
- Assets
- $5.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Perry, IA
- Founding
- 12/1984
- Data as of
- 06/2022
- EIN
- 42-1234767
Organization Overview
Perry Economic Development Inc is located in Perry, IA. The organization was established in 1984. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Perry Economic Development Inc 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, Perry Economic Development Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.9% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. 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
ECONOMIC DEVELOPMENT FOR PERRY, IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT FOR THE CITY OF PERRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darren Lindstrom Treasurer | OfficerTrustee | 1 | $0 |
Scott Finneseth Vice President | OfficerTrustee | 1 | $0 |
Jon Peters Secretary | OfficerTrustee | 1 | $0 |
Terry Nielsen President & CEO | OfficerTrustee | 1 | $0 |
Matt Mcdevitt Director | Trustee | 2 | $0 |
Deb Lucht Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $253,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,435 |
| Total Program Service Revenue | $0 |
| Investment income | $421 |
| 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 | $1,890,621 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $752,823 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $55,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,012 |
| Fees for services: Accounting | $27,974 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,326 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $72,675 |
| Insurance | $68,620 |
| All other expenses | $194,172 |
| Total functional expenses | $1,812,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $628,357 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,709 |
| 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 | $32,030 |
| Net Land, buildings, and equipment | $3,404,453 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,051,697 |
| Total assets | $5,122,246 |
| Accounts payable and accrued expenses | $7,911 |
| 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 | $1,525,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $450,018 |
| Total liabilities | $1,982,929 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $3,139,317 |
| Total liabilities and net assets/fund balances | $5,122,246 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Perry Economic Development Inc has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Raccoon Valley Bank Charitable Foundation Perry, IA PURPOSE: GENERAL OPERATIONS | $50,000 |
Bock Family Foundation Inc Perry, IA PURPOSE: GENERAL SUPPORT | $25,000 |
Iowa Realty Foundation Des Moines, IA PURPOSE: PERRY ECO DEV CONTRIBUTION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |