Waukon Economic Development Corporation
- Assets
- $493.6k
- Revenue
- $94.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Waukon, IA
- Founding
- 02/1995
- Data as of
- 06/2021
- EIN
- 42-1352802
Organization Overview
Waukon Economic Development Corporation is located in Waukon, IA. The organization was established in 1995. 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. Waukon 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 06/2021, Waukon Economic Development Corporation generated $94.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $93.8k during the year ending 06/2021. While expenses have increased by 15.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE WAUKON ECONOMIC DEVELOPMENT CORPORATION (WEDC) IS A NON-PROFIT CORPORATION ORGANIZED TO INITIATE AND SUPPORT DEVELOPMENT EFFORTS THAT WILL SERVE TO IMPROVE AND FURTHER DEVELOP THE ECONOMY OF WAUKON, IOWA. WEDC WILL FOCUS ITS EFFORTS ON ACTIVITIES THAT SERVE TO CREATE NEW EMPLOYMENT OPPORTUNITIES AND ACT AS A CATALYST TO SPEARHEAD COMMUNITY DEVELOPMENT PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE COMMUNITY ACTIVITIES, AWARENESS, AND TOURISM WITH PUBLIC EVENTS.
EXPENDITURES FOR RESIDENTIAL AND COMMERCIAL BETTERMENTS.
EXPENDITURES FOR SCHOOL PROGRAMS AT THE PUBLIC SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ardie Kuhse Coordinator | Trustee | 40 | $22,663 |
Joseph Cunningham Vice Preside | OfficerTrustee | 4 | $0 |
Dennis Lyons President | OfficerTrustee | 10 | $0 |
Howard Van Ruler Secretary | OfficerTrustee | 5 | $0 |
Jay Mathis Representati | Trustee | 2 | $0 |
Irv Fosaaen Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,631 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,055 |
| 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 | $94,729 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $23,906 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,123 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,797 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $51 |
| Office expenses | $503 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,697 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,318 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,540 |
| All other expenses | $0 |
| Total functional expenses | $93,812 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,380 |
| Savings and temporary cash investments | $51,344 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $344,879 |
| Total assets | $493,603 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $103,630 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $95,809 |
| Unsecured mortgages and notes payable | $4,721 |
| Other liabilities | $4,144 |
| Total liabilities | $104,674 |
| 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 |
| Total liabilities and net assets/fund balances | $388,929 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Waukon Economic Development Corporation has recieved totaling $74.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $74 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Mhub Chicago, IL | $5,077,327 | $6,781,086 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Chicago Neighborhood Initiatives Inc Chicago, IL | $28,044,875 | $6,086,031 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |