Bedford Area Economic Development Corp
- Assets
- $106.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bedford, IA
- Founding
- 03/1996
- Data as of
- 12/2021
- EIN
- 42-1443198
Organization Overview
Bedford Area Economic Development Corp is located in Bedford, IA. The organization was established in 1996. 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. Bedford Area Economic Development Corp 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, Bedford Area Economic Development Corp generated $46.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $60.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
NUMEROUS COMMUNITY EVENTS SUCH AS BITE OF BEDFORD, DOWNTOWN TRICK OR TREAT, 4TH OF JULY PANCAKE BREAKFAST, BBQ, AND FIREWORK DISPLAY, RED BRICK RUN, TOUR OF HOMES, & SANTA VISIT TO PROMOTE ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Calfee Director | 1 | $0 | |
Irene Smithkay Lucas Director | 1 | $0 | |
Dale Bucher Director | 1 | $0 | |
Larry Loghry Treasurer | 1 | $0 | |
Janel Irvin President | 3 | $0 | |
Trevor Fletcher Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,500 |
| Total Program Service Revenue | $18,199 |
| Membership dues | $8,195 |
| Investment income | $1,442 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $46,336 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $30,432 |
| Professional fees and other payments to independent contractors | $2,240 |
| Occupancy, rent, utilities, and maintenance | $3,417 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $24,852 |
| Total expenses | $60,941 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $106,256 |
| Other assets | $0 |
| Total assets | $106,256 |
| Total liabilities | $1,964 |
| Net assets or fund balances | $104,292 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Bedford Area Economic Development Corp has recieved totaling $15,869.
| Awarding Organization | Amount |
|---|---|
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR THE CONSTRUCTION OF AQUAPONICS GREENHOUSE | $10,375 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR THE CONSTRUCTION OF ENTRANCE GATE AT THE FAIRGROUNDS | $5,494 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Watertown Development Company Watertown, SD | $26,777,594 | $1,539,881 |
Destination Medical Center Corporation Rochester, MN | $379,838 | $2,053,572 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |
Northside Economic Opportunity Network Minneapolis, MN | $8,534,205 | $5,326,140 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |
Capitalplus Exchange Corporation Skokie, IL | $2,405,541 | $1,079,242 |
United Counties Council Of Illinois Springfield, IL | $3,090,224 | $1,659,321 |