Edgewood Board Of Economic Development Inc
- Assets
- $382.5k
- Revenue
- $178.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Edgewood, IA
- Founding
- 03/1991
- Data as of
- 06/2022
- EIN
- 42-1356753
Organization Overview
Edgewood Board Of Economic Development Inc is located in Edgewood, IA. The organization was established in 1991. 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. Edgewood Board Of Economic Development Inc 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 06/2022, Edgewood Board Of Economic Development Inc generated $178.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $80.6k during the year ending 06/2022. While expenses have increased by 5.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE BUSINESS GROWTH AND JOB DEVELOPMENT AND RETENTION AND ASSISTS THE COMMUNITY WITH DEVELOPMENT PROJECTS AND RESTORATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE BUSINESS GROWTH AND JOB DEVELOPMENT AND RETENTION AND ASSISTS COMMUNITY WITH DEVELOPMENT PROJECTS AND RESTORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elise Bergan Org Dirsecretary | Officer | 40 | $53,268 |
David Meyer President | OfficerTrustee | 1 | $0 |
Luke Brady Treasurer | OfficerTrustee | 1 | $0 |
Michelle Brady Vice President | OfficerTrustee | 1 | $0 |
Jim Stone Director | Trustee | 1 | $0 |
Thomas Hunt Director | Trustee | 1 | $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 | $174,089 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $174,089 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $178,268 |
| 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. | $53,268 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,953 |
| Fees for services: Accounting | $345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,316 |
| Office expenses | $1,224 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,292 |
| 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 | $0 |
| Insurance | $1,078 |
| All other expenses | $0 |
| Total functional expenses | $80,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,605 |
| Savings and temporary cash investments | $0 |
| 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 |
| Net Land, buildings, and equipment | $205,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $382,468 |
| Accounts payable and accrued expenses | $0 |
| 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 | $130,000 |
| Unsecured mortgages and notes payable | $20,000 |
| Other liabilities | $0 |
| Total liabilities | $150,000 |
| Net assets without donor restrictions | $232,468 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $382,468 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Edgewood Board Of Economic Development Inc has recieved totaling $94,300.
| Awarding Organization | Amount |
|---|---|
The Wellmark Foundation Des Moines, IA PURPOSE: THE EDGEWOOD VIKING LOOP TRAIL IS PROPOSED TO BE A PAVED, MULTI-USE TRAIL AROUND THE COMMUNITY DREAMS SPORTS AND RECREATION COMPLEX AND EDGEWOOD INDUSTRIAL PARK. THE PROJECT WILL CREATE A SAFE, ACCESSIBLE, AND ATTRACTIVE TRAIL ROUTE THAT PROMOTES THE HEALTH AND WELLNESS OF OUR COMMUNITY'S RESIDENTS AND VISITORS OF ALL AGES AND ABILITIES. THE TRAIL WILL BE CONSTRUCTED ON DONATED LAND. THE TRAIL PROPOSED IS A 10' WIDE PCC PAVED SURFACE THAT IS APPROXIMATELY ONE MILE IN LENGTH WITH CONNECTIONS TO CITY SIDEWALKS. THE 10' WIDTH OF THE TRAIL WILL INCREASE THE SAFETY AND ACCESSIBILITY OF THE TRAIL AND THE PCC PAVING WILL ENSURE THE LONGEVITY OF THE TRAIL AND WILL HELP KEEP MAINTENANCE AND UPKEEP COSTS MINIMAL. THE PROJECT'S LINKAGES TO THE CITY'S SIDEWALK NETWORK WILL CREATE A SAFE, ACCESSIBLE, CONNECTED ROUTE FOR PEOPLE WALKING AND BICYCLING, AS WELL AS THOSE WITH MOBILITY IMPAIRMENTS. | $94,300 |
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 |