Bedford Area Economic Development Corp
- Assets
- $95.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bedford, IA
- Founding
- 03/1996
- Data as of
- 12/2022
- 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 12/2022, Bedford Area Economic Development Corp generated $65.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $76.4k during the year ending 12/2022. While expenses have increased by 6.1% per year over the past 8 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
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 |
|---|---|---|---|
Janel Irvin President | 3 | $0 | |
Josh Good Director | 1 | $0 | |
Larry Loghry Treasurer | 1 | $0 | |
Pam Calfee Director | 1 | $0 | |
Kay Lucas Director | 1 | $0 | |
Trevor Fletcher Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,000 |
| Total Program Service Revenue | $27,114 |
| Membership dues | $6,489 |
| Investment income | $731 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $65,334 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $43,057 |
| Professional fees and other payments to independent contractors | $1,290 |
| Occupancy, rent, utilities, and maintenance | $2,757 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $29,251 |
| Total expenses | $76,355 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $95,012 |
| Other assets | $0 |
| Total assets | $95,012 |
| Total liabilities | $1,741 |
| Net assets or fund balances | $93,271 |