Fort Madison Economic Development Corporation

Organization Overview

Fort Madison Economic Development Corporation is located in Fort Madison, IA. The organization was established in 1988. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Fort Madison 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, Fort Madison Economic Development Corporation generated $695.3k 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 (8.2%) each year. All expenses for the organization totaled $263.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTION OF AREA ECONOMIC DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTION OF FORT MADISON TO EXISTING INDUSTRIES AND BUSINESS AS WELL AS TO PROSPECTIVE BUSINESSES. ACTIVE SEARCH FOR NEW INDUSTRY AND ASSISTANCE TO BUSINESSES AND INDUSTRY LOOKING TO EXPAND OR BEGIN.


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Board, Officers & Key Employees

Name (title)Compensation
Mike Culbertson
Treasurer
$0
Tim Gobble
Secretary
$0
Bob Huffman
Chairman
$0
Matt Morris
Vice-Chairma
$0
Corey Fraise
Director
$0
Jeremy Alexander
Director
$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$689,915
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$689,915
Total Program Service Revenue$0
Investment income $6,413
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$992
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 $695,336

Grants Awarded

Over the last fiscal year, Fort Madison Economic Development Corporation has awarded $27,691 in support to 2 organizations.

Grant RecipientAmount

FORT MADISION SPORTS COMPLEX

Org PageRecipient Profile

Fort Madison, IA

PURPOSE: GENERAL SUPPORT

$15,191

PORT - CITY OF FORT MADISON

PURPOSE: GENERAL SUPPORT

$12,500
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Fort Madison Economic Development Corporation has recieved totaling $450,000.

Awarding OrganizationAmount
Fort Madison Sirrc Corporation

Fort Madison, IA

PURPOSE: MARINA CONSTRUCTION

$450,000
View Grant Recipient Profile

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