Moberly Area Economic Development Corporation
- Assets
- $595.0k
- Revenue
- $375.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Moberly, MO
- Founding
- 11/1988
- Data as of
- 12/2023
- EIN
- 43-1475001
Organization Overview
Moberly Area Economic Development Corporation is located in Moberly, MO. The organization was established in 1988. 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 12/2023, Moberly Area Economic Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moberly Area Economic Development 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 12/2023, Moberly Area Economic Development Corporation generated $375.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $324.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE INVESTMENT WITHIN RANDOLPH & HOWARD COUNTIES THROUGH BOTH EXPANSION OF EXISTING BUSINESSES AS WELL AS NEW BUSINESS ATTRACTION. THESE INVESTMENTS LEAD TO CREATION OF NEW JOBS, INCREASED TAX BASE FOR TAXING JURISDICTIONS AND MUNICIPALITIES, AND DIVERSIFICATION OF THE LOCAL ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ORDER TO PROMOTE GROWTH IN THE TWO-COUNTY REGION, MAEDC STAFF MEMBERS PROVIDE SERVICES FOR BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION, AND ENTREPRENEURIAL DEVELOPMENT. WITHIN THOSE ACTIVITIES, STAFF REGULARLY VISITS WITH AREA MAJOR EMPLOYERS TO PROVIDE RESOURCES LIKE LABOR REPORTS, COOPERATIVE MARKETING OPPORTUNITIES, AND SKILLS TRAINING. IN ADDITION, STAFF WORK WITH SEVERAL STATE AND REGIONAL PARTNERS TO CONDUCT CONSULTANT BRIEFINGS, FAMILIARIZATION TOURS, AND REGULARLY SUBMIT REQUESTS FOR PROPOSALS IN AN EFFORT TO GAIN SITE VISITS IN THE REGION FOR PROSPECTIVE EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Asbury Past Preside | Officer | 40 | $95,271 |
Chuck Mckeown Chairman | OfficerTrustee | 0.75 | $0 |
Suzi Mcgarvey Vice-Chairma | OfficerTrustee | 0.75 | $0 |
Jb Waggoner Member | Trustee | 0.75 | $0 |
Ray Stewart Sec/treasure | OfficerTrustee | 0.75 | $0 |
Shane Adrian Member | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $41,912 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $490 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,402 |
| Total Program Service Revenue | $321,000 |
| Investment income | $11,480 |
| 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 | $375,263 |
| 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. | $95,271 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,602 |
| Pension plan accruals and contributions | $5,817 |
| Other employee benefits | $27,977 |
| Payroll taxes | $15,250 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,115 |
| Fees for services: Accounting | $7,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,793 |
| Office expenses | $4,564 |
| Information technology | $5,180 |
| Royalties | $0 |
| Occupancy | $20,326 |
| 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 | $2,065 |
| All other expenses | $5,095 |
| Total functional expenses | $324,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,896 |
| Savings and temporary cash investments | $411,056 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $594,952 |
| Accounts payable and accrued expenses | $3,534 |
| 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 | $7,216 |
| Total liabilities | $10,750 |
| Net assets without donor restrictions | $584,202 |
| 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 | $594,952 |