Economic Development Corporation Of Kansas City Missouri
- Assets
- $4.9m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 30
- Location
- Kansas City, MO
- Founding
- 01/1979
- Data as of
- 04/2022
- EIN
- 43-1146626
Organization Overview
Economic Development Corporation Of Kansas City Missouri is located in Kansas City, MO. The organization was established in 1979. 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. As of 04/2022, Economic Development Corporation Of Kansas City Missouri employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Corporation Of Kansas City Missouri 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 04/2022, Economic Development Corporation Of Kansas City Missouri generated $3.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $4.6m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Economic Development Corporation Of Kansas City Missouri has awarded 38 individual grants totaling $4,729,492. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE EDC IS TO DRIVE ECONOMIC DEVELOPMENT AND CREATE AN ENVIRONMENT IN WHICH BUSINESSES AND RESIDENTS CAN PROSPER AND GROW IN KANSAS CITY, MISSOURI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAND DEVELOPMENT AND BLIGHT REMEDIATION; BUSINESS ATTRACTION, RETENTION AND EXPANSION; IMPLEMENTATION OF STRATEGIC INITIATIVES SUCH AS THE BLUE RIVER VALLEY CORRIDOR AND LAUNCHKC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
T'risa L Mccord President & CEO 5/1/21-9/30/21 | Officer | 40 | $170,825 |
Lee Brown Former Controller | 40 | $152,289 | |
Heather Brown Interim Pres. & CEO 10/1/21-4/30/22 | Officer | 40 | $131,739 |
Jill Quinn Secretary | Officer | 40 | $68,363 |
Bridgette Williams Chairperson | OfficerTrustee | 5 | $0 |
Mcclain Bryant Macklin Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,952,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $447,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,400,000 |
| Total Program Service Revenue | $472,756 |
| Investment income | $3,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,222 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,918,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,454 |
| 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. | $383,282 |
| Compensation of current officers, directors, key employees. | $45,994 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,675,285 |
| Pension plan accruals and contributions | $146,187 |
| Other employee benefits | $273,114 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $96,165 |
| Fees for services: Accounting | $71,911 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $405,416 |
| Advertising and promotion | $185,420 |
| Office expenses | $93,907 |
| Information technology | $87,522 |
| Royalties | $0 |
| Occupancy | $305,894 |
| Travel | $21,970 |
| 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 | $148,286 |
| Insurance | $26,916 |
| All other expenses | $56,551 |
| Total functional expenses | $4,560,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,291,981 |
| Savings and temporary cash investments | $1,677,647 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,037,453 |
| 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 | $62,464 |
| Net Land, buildings, and equipment | $816,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,885,634 |
| Accounts payable and accrued expenses | $3,517,396 |
| Grants payable | $0 |
| Deferred revenue | $230,584 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,747,980 |
| Net assets without donor restrictions | $1,137,654 |
| 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 | $4,885,634 |
Grants Awarded
Over the last fiscal year, Economic Development Corporation Of Kansas City Missouri has awarded $3,480,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Kansas City, MO PURPOSE: GENERAL FUNDING | $3,060,000 |
Kansas City, MO PURPOSE: GENERAL FUNDING | $250,000 |
Kansas City, MO PURPOSE: TO SUPPORT CONVENTION AND TOURISM EVENT CANCELLATIONS DUE TO COVID-19 PANDEMIC. | $35,000 |
PROSPECT BUSINESS ASSOCIATION PURPOSE: TO SUPPORT CONVENTION AND TOURISM EVENT CANCELLATIONS DUE TO COVID-19 PANDEMIC. | $20,000 |
Kansas City, MO PURPOSE: TO SUPPORT CONVENTION AND TOURISM EVENT CANCELLATIONS DUE TO COVID-19 PANDEMIC. | $10,000 |
Kansas City, MO PURPOSE: TO SUPPORT CONVENTION AND TOURISM EVENT CANCELLATIONS DUE TO COVID-19 PANDEMIC. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Economic Development Corporation Of Kansas City Missouri has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Heavy Constructors Association Of The Grtr Kc Area Indus Advcmt Fund Kansas City, MO PURPOSE: program service support | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |