Edc Strategic Initiatives Fund
- Assets
- $354.5k
- Revenue
- $301.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 06/2019
- Data as of
- 04/2020
- EIN
- 43-1204633
Organization Overview
Edc Strategic Initiatives Fund is located in Kansas City, MO. The organization was established in 2019. 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. Edc Strategic Initiatives Fund 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 04/2020, Edc Strategic Initiatives Fund generated $301.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $1.0m during the year ending 04/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARITABLE FUND WILL ASSIST FOR PROFIT AND NOT FOR PROFIT ORGANIZATIONS IN EFFORTS TO LESSEN THE BURDENS OF GOVERNMENT BY COMBATTING COMMUNITY DETERIORATION, ETC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REDEVELOPMENT OF CENTRALLY LOCATED INDUSTRIAL SITES THROUGH MERGING OF PUBLIC FUNDS AND DEVELOPMENT INCENTIVES WITH PRIVATE FUNDS AND DEVELOPMENT INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Spencer Fields Vice President/director | OfficerTrustee | 1 | $0 |
Bridgette Williams Chairwoman/director | OfficerTrustee | 1 | $0 |
Heather Brown Interim Pres. & CEO 10/1/21-4/30/22 | OfficerTrustee | 1 | $0 |
T'risa Mccord President & CEO 5/1/21 To 9/30/21 | Officer | 1 | $0 |
Jill Quinn Secretary | Officer | 1 | $0 |
Clyde Mcqueen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $291,500 |
| Investment income | $9,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $750 |
| 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 | $301,938 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,981 |
| Fees for services: Accounting | $15,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $53,625 |
| Office expenses | $50 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,155 |
| All other expenses | $0 |
| Total functional expenses | $1,020,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,362 |
| Savings and temporary cash investments | $94,144 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $354,506 |
| Accounts payable and accrued expenses | $8,196 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,196 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $346,310 |
Grants Awarded
Over the last fiscal year, Edc Strategic Initiatives Fund has awarded $130,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PROSPECT BUSINESS ASSOCIATION PURPOSE: OPERATIONS- TO HIRE A FULL TIME EMPLOYEE | $50,000 |
PROSPECT BUSINESS ASSOCIATION PURPOSE: OPERATIONS- TO HIRE A FULL TIME EMPLOYEE | $50,000 |
Kansas City, MO PURPOSE: OPERATIONS- STRUCTURAL BUILDING EXPANSION AND IMPROVEMENTS NEEDED FOR CURRENT AND FUTURE PROGRAMMING | $15,000 |
Kansas City, MO PURPOSE: OPERATIONS- STRUCTURAL BUILDING EXPANSION AND IMPROVEMENTS NEEDED FOR CURRENT AND FUTURE PROGRAMMING | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Edc Strategic Initiatives Fund has recieved totaling $280,000.
| Awarding Organization | Amount |
|---|---|
Economic Development Corporation Of Kansas City Missouri Kansas City, MO PURPOSE: GENERAL FUNDING | $250,000 |
Deluxe Corporation Foundation Cleveland, OH PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Deluxe Corporation Foundation Cleveland, OH PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iec Hotel Corporation West Des Moines, IA | $103,529,195 | $16,531,928 |
Black Hawk County Gaming Assoc Waterloo, IA | $18,246,475 | $5,898,126 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Enterprise Center Of Johnson County Overland Park, KS | $1,026,412 | $1,656,304 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |