Edc Loan Corporation
- Assets
- $2.4m
- Revenue
- $520.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 10/1980
- Data as of
- 04/2022
- EIN
- 43-1204634
Organization Overview
Edc Loan Corporation is located in Kansas City, MO. The organization was established in 1980. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edc Loan Corporation 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, Edc Loan Corporation generated $520.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $113.3k during the year ending 04/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Edc Loan Corporation has awarded 82 individual grants totaling $3,060,000. 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
PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA AND THE URBAN CORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTICIPATION WITH LOCAL LENDING INSTITUTIONS TO PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA. PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION'S SECTION 504 LOAN PROGRAM AS A CERTIFIED DEVELOPMENT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Riley Board Chair | OfficerTrustee | 1 | $0 |
Ajamu Webster Secretary | OfficerTrustee | 1 | $0 |
Heather Brown Interim Pres. & CEO 10/1/21-4/30/22 | Officer | 2 | $0 |
T'risa Mccord President & CEO 5/1/21 To 9/30/21 | Officer | 1 | $0 |
Jill Hathaway Director | Trustee | 1 | $0 |
Tammy Queen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $495,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $495,000 |
| Total Program Service Revenue | $19,903 |
| Investment income | $316 |
| 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 | $520,219 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $8,218 |
| Fees for services: Accounting | $23,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,210 |
| Advertising and promotion | $0 |
| Office expenses | $207 |
| Information technology | $1,931 |
| 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 | $5,945 |
| All other expenses | $0 |
| Total functional expenses | $113,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $432,692 |
| 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 | $998 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,949,083 |
| Intangible assets | $0 |
| Other assets | $3,537 |
| Total assets | $2,386,310 |
| Accounts payable and accrued expenses | $5,510 |
| 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 | $55,750 |
| Total liabilities | $61,260 |
| Net assets without donor restrictions | $2,325,050 |
| 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 | $2,386,310 |
Grants Awarded
Over the last fiscal year, Edc Loan Corporation has awarded $3,060,000 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
6 TINO'S DBA RAY'S DONUTS PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
BLUSH BOOT CAMP NORTHLAND PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
BRASS RAIL SPORTS BAR PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
BRIARCLIFF ENDODONTICS LLC PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
BIGGS BARBERSHOP PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
ABOVE AND BEYOND PLUMBING PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Edc Loan Corporation has recieved totaling $3,060,000.
| Awarding Organization | Amount |
|---|---|
Economic Development Corporation Of Kansas City Missouri Kansas City, MO PURPOSE: GENERAL FUNDING | $3,060,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Crawford Sebastian Community Development Council Inc Fort Smith, AR | $10,081,488 | $25,336,007 |
Delta Area Economic Opportunity Corporation Portageville, MO | $22,832,856 | $23,706,654 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Des Moines Performing Arts Des Moines, IA | $53,428,793 | $29,638,099 |
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |