Kossuth County Economic Development Corporation

Organization Overview

Kossuth County Economic Development Corporation is located in Algona, IA. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Kossuth County Economic Development Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kossuth County Economic Development Corporation 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, Kossuth County Economic Development Corporation generated $323.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $331.9k during the year ending 06/2022. While expenses have increased by 1.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE KOSSUTH COUNTY ECONOMIC DEVELOPMENT CORPORATION WILL COORDINATE JOB RETENTION, BUSINESS DEVELOPMENT, HOUSING, TOURISM, VALUE-ADDED INITIATIVES AND PROVIDE LEADERSHIP TO HELP IMPROVE THE QUALITY OF LIFE FOR RESIDENTS OF KOSSUTH COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CONTINUE TO PROVIDE ASSISTANCE TO KOSSUTH COUNTY BUSINESSES AND COMMUNITIES TO DEVELOP NEW BUSINESS AND RETAIN CURRENT BUSINESSES AND INDUSTRIES.


CONTINUE TO PROVIDE LOANS TO BUSINESSES THROUGH THE KOSSUTH COUNTY REVOLVING LOAN FUND. THIS FUND PROVIDES A SOURCE OF FINANCING, WHICH MAY NOT OTHERWISE BE AVAILABLE WITHIN THE COUNTY FOR LOCAL EXPANDING OR START- UP BUSINESSES.


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Board, Officers & Key Employees

Name (title)Compensation
Pat Berte
Treasurer
$0
Crysti Neuman
Secretary
$0
Jeff Knapp
Vice Preside
$0
Sean Noonan
Financial Ad
$0
Jason Wartick
President
$0
Eric Baker
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$34,136
Fundraising events$0
Related organizations$0
Government grants $63,845
All other contributions, gifts, grants, and similar amounts not included above$222,388
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$320,369
Total Program Service Revenue$0
Investment income $3,250
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 $323,619

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