Obrien County Economic Development
- Assets
- $2.6m
- Revenue
- $333.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Primghar, IA
- Founding
- 09/2001
- Data as of
- 06/2022
- EIN
- 42-1375644
Organization Overview
Obrien County Economic Development is located in Primghar, IA. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Obrien County Economic Development employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Obrien County Economic Development is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Obrien County Economic Development generated $333.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $209.1k 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
THE OCEDC MISSION IS TO CONSERVE, IMPROVE, DEVELOP AND EXPAND EXISTING INDUSTRIAL, COMMERCIAL AND PROFESSIONAL ENTERPRISES IN O'BRIEN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
O'BRIEN COUNTY ECONOMIC DEVELOPMENT PROVIDES LOW INTEREST RATE LOANS TO BUSINESSES LOCATED IN O'BRIEN COUNTY, IOWA FOR THE EXPANSION AND GROWTH OF AREA BUSINESSES AND THE CREATION/PRESERVATION OF AREA JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kiana Johnson Exec Directo | Officer | 40 | $87,837 |
Sharon Flinders Board Member | Trustee | 1 | $0 |
Rodd Holtkamp Board Member | Trustee | 1 | $0 |
Megan Horstman Board Member | Trustee | 1 | $0 |
Steve Leng Vice-Preside | OfficerTrustee | 1 | $0 |
Nathan Mueller County Super | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $184,479 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,214 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,693 |
| Total Program Service Revenue | $96,314 |
| Investment income | $2,060 |
| 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 | $333,120 |
| 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. | $88,382 |
| Compensation of current officers, directors, key employees. | $88,382 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,818 |
| Pension plan accruals and contributions | $10,071 |
| Other employee benefits | $0 |
| Payroll taxes | $7,972 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,773 |
| Advertising and promotion | $2,705 |
| Office expenses | $4,371 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,488 |
| Travel | $5,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $238 |
| Interest | $14,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $558 |
| Insurance | $5,337 |
| All other expenses | $321 |
| Total functional expenses | $209,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $531,730 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,362 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,947,963 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,526 |
| Net Land, buildings, and equipment | $1,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $149,853 |
| Total assets | $2,646,404 |
| Accounts payable and accrued expenses | $26,423 |
| 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 | $1,085,646 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,112,069 |
| Net assets without donor restrictions | $1,048,978 |
| Net assets with donor restrictions | $485,357 |
| 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 | $2,646,404 |