Audubon County Economic Development Corporation

Organization Overview

Audubon County Economic Development Corporation is located in Audubon, IA. The organization was established in 1989. 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 06/2023, Audubon County Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Audubon County Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 06/2023, Audubon County Economic Development Corporation generated $117.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $476.6k 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

ASSIST EXISTING COUNTY BUSINESSES WITH RETENTION AND EXPANSION; SOLICIT NEW BUSINESSES; CREATE AND ACQUIRE SPACE FOR NEW BUSINESSES; AND ENCHANCE THE QUALITY OF LIFE IN AUDUBON COUNTY, IOWA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION CONTINUED ITS WORK ON THE SIDEWALK PROJECT THAT WAS STARTED IN PREVIOUS YEARS FROM GRANTS AND DONATIONS RECEIVED WITH EXPENSES IN THE AMOUNT OF $54,645. THE ORGANIZATION ALSO DISTRIBUTED RETAINED FUNDS FOR COMMUNITY PROJECTS IN AUDUBON, EXIRA, AND GRAY IN THE AMOUNT OF $309,790.


THE ORGANIZATION EXPENDED FUNDS OF $7,606 FOR PROPERTY TAXES AND INSURANCE TO MAINTAIN PROPERTIES THEY OWNED AND PURCHASED FOR HOUSING PROJECTS.


THE ORGANIZATION PROVIDED ASSISTANCE FOR HOUSING PROJECTS IN THE CITY OF AUDUBON IN THE AMOUNT OF $9,631 AND ALSO CONTRIBUTED $20,684 TO COMMERCIAL AND PRIVATE PROPERTIES AS PART OF ITS INITIATIVE TO CLEAN UP BLIGHTED PROPERTIES. THE ASSISTANCE WAS LIMITED TO 50% OF THE COST OF THE CLEAN UP. THE AUDUBON COMMUNITY BENEFITS BY THE DEVELOPMENT OF NEW HOUSING AND THE CLEANUP OF BLIGHT. THE HOUSING FUND IS SUPPORTED BY PRIVATE DONATIONS.


THE ORGANIZATION PURCHASED A BLIGHTED HOUSE AND TORE IT DOWN FOR FUTURE HOUSING DEVELOPMENT IN THE AMOUNT OF $5,724, THE ORGANIZATION CONTRIBUTED FUNDS FOR AN APARTMENT DEVELOPMENT GRANT IN THE AMOUNT OF $1869, AND THE ORGANIZATION PAID FOR DEVELOPMENT PLANS IN THE AMOUNT OF $1,679.


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Board, Officers & Key Employees

Name (title)Compensation
Laurie Gilbert
Treasurerdirector
$5,722
Jeff T Bauer
Director - City Of Exira
$0
John Meislahn
Director - City Of Gray
$0
Doug Sorensen
Director - County Supervisor
$0
Steve Schmitz
Director - City Of Kimballton
$0
Lyle Hansen Jr
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$23,769
Fundraising events$0
Related organizations$0
Government grants $86,647
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$110,416
Total Program Service Revenue$0
Investment income $611
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $6,000
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 $117,027

Grants Awarded

Over the last fiscal year, Audubon County Economic Development Corporation has awarded $602,480 in support to 3 organizations.

Grant RecipientAmount

AUDUBON RECREATION FOUNDATION

PURPOSE: CONSTRUCTION OF RECREATION CENTER

$500,000

CITY OF EXIRA

PURPOSE: RENOVATION OF EXIRA RECREATIONAL CENTER

$91,500

CITY OF BRAYTON

PURPOSE: RENOVATION OF CITY HALL

$10,980
View Grant Profile

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