Lees Summit Economic Development Council is located in Lees Summit, MO. The organization was established in 1986. 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 06/2021, Lees Summit Economic Development Council employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lees Summit Economic Development Council 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 06/2021, Lees Summit Economic Development Council generated $600.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $545.0k during the year ending 06/2021. While expenses have increased by 2.0% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENHANCE THE CITY OF LEE'S SUMMIT AS A MODEL COMMUNITY FOR ECONOMIC INNOVATION AND GROWTH FUELED BY A PRO-BUSINESS ENVIRONMENT, DIVERSE ECONOMIC BASE AND A COMMITMENT TO STRONG RELATIONSHIPS AND WORK ETHIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RETENTION AND EXPANSION - WORK WITH LOCAL EMPLOYERS TO ACT AS THEIR OMBUDSMAN TO HELP RESOLVE PROBLEMS AND TO GROW THEIR BUSINESSES.
COMMUNITY PRODUCT DEVELOPMENT - AS A TRUSTED, NEUTRAL ADVISOR, PROMOTE A PRO-BUSINESS ENVIRONMENT AND CIVIC DIALOGUE BY COLLABORATING WITH PUBLIC AND PRIVATE SECTOR STAKEHOLDERS TO IMPROVE THE QUALITY OF LIFE IN LEE'S SUMMIT.
COMMUNITY IMAGE ENHANCEMENT - PUBLICIZE AND MERCHANDISE LEE'S SUMMIT TO KEEP THE COMMUNITY AT THE TOP OF OPINION AND DECISION MAKERS' MINDS. TARGET INDUSTRY ATTRACTION - WORK WITH INVESTORS, COMMUNITY PARTNERS AND ALLIES TO ATTRACT INVESTMENT AND HIGHER PAYING JOBS THAT CONTRIBUTE TO THE TAX BASE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Rick Mcdowell President/ce | Officer | 50 | $142,476 |
Todd Haynes Vice Chair | OfficerTrustee | 1 | $0 |
Larry Hillier Treasurer | OfficerTrustee | 1 | $0 |
Tim Paulson Chair | OfficerTrustee | 1 | $0 |
Chip Moxley Immed Past C | OfficerTrustee | 1 | $0 |
Linda Harrelson Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $269,105 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $272,247 |
All other contributions, gifts, grants, and similar amounts not included above | $58,433 |
Noncash contributions included in lines 1a–1f | $11,200 |
Total Revenue from Contributions, Gifts, Grants & Similar | $599,785 |
Total Program Service Revenue | $0 |
Investment income | $343 |
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 | $600,128 |
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. | $187,523 |
Compensation of current officers, directors, key employees. | $22,503 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $141,179 |
Pension plan accruals and contributions | $4,317 |
Other employee benefits | $21,940 |
Payroll taxes | $22,179 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $17,680 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $26,956 |
Advertising and promotion | $0 |
Office expenses | $7,501 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $17,449 |
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 | $1,611 |
Insurance | $3,743 |
All other expenses | $43,326 |
Total functional expenses | $545,037 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $141,414 |
Savings and temporary cash investments | $415,270 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $15,497 |
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 |
Net Land, buildings, and equipment | $28,617 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $47,233 |
Total assets | $648,031 |
Accounts payable and accrued expenses | $19,263 |
Grants payable | $0 |
Deferred revenue | $105,000 |
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 | $1,515 |
Total liabilities | $125,778 |
Net assets without donor restrictions | $522,253 |
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 | $648,031 |
Over the last fiscal year, we have identified 1 grants that Lees Summit Economic Development Council has recieved totaling $7,500.
Awarding Organization | Amount |
---|---|
Saint Lukes Health System Inc Kansas City, MO PURPOSE: COMMUNITY SUPPORT | $7,500 |
Organization Name | Assets | Revenue |
---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
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 |