Regional Economic Development Incorporated
- Assets
- $404.2k
- Revenue
- $389.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, MO
- Founding
- 10/1989
- Data as of
- 09/2022
- EIN
- 43-1516160
Organization Overview
Regional Economic Development Incorporated is located in Columbia, MO. The organization was established in 1989. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Economic Development Incorporated 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 09/2022, Regional Economic Development Incorporated generated $389.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $386.7k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT NEW BUSINESSES AND QUALITY JOBS THAT ENHANCE THE AREA'S ECONOMY AND COMMUNITY; TO EXPAND THE PRESENCE OF EXISTING LEGACY BUSINESSES AND ENURE A SUSTAINABLE WORKFORCE; AND TO GROW START-UP BUSINESSES AND FOSTER A STRONGER ENTREPRENEURIAL ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ECONOMIC DEVELOPMENT AND ACTIVITY IN THE COLUMBIA/BOONE COUNTY AREA
TO WORK WITH FOOD-BASED ENTREPRENEURS IN MID-MISSOURI TO PROVIDE THEM WITH A SHARED COMMERCIAL KITCHEN THAT IS EQUIPPED WITH EQUIPMENT AND BUSINESS SUPPORT FOR THEIR BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Hart Chair | OfficerTrustee | 0.6 | $0 |
Todd Hoien Treasurer | OfficerTrustee | 0.6 | $0 |
Matt Jenne Past Chair | OfficerTrustee | 0.6 | $0 |
Benjamin Ross Vice Chair | OfficerTrustee | 0.6 | $0 |
Jen Hedrick Secretary | OfficerTrustee | 0.6 | $0 |
Stacey Button President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $223,688 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,688 |
| Total Program Service Revenue | $64,076 |
| Investment income | $189 |
| 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 | $389,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,200 |
| 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 | $0 |
| Fees for services: Accounting | $21,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,190 |
| Advertising and promotion | $20,209 |
| Office expenses | $24,127 |
| Information technology | $1,428 |
| Royalties | $0 |
| Occupancy | $141,329 |
| Travel | $13,648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,917 |
| Interest | $7,041 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,885 |
| All other expenses | $1,053 |
| Total functional expenses | $386,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $404,163 |
| Savings and temporary cash investments | $0 |
| 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 | $404,163 |
| Accounts payable and accrued expenses | $8,940 |
| Grants payable | $0 |
| Deferred revenue | $17,500 |
| 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 | $160,444 |
| Other liabilities | $2,075 |
| Total liabilities | $188,959 |
| Net assets without donor restrictions | $211,404 |
| Net assets with donor restrictions | $3,800 |
| 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 | $404,163 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Regional Economic Development Incorporated has recieved totaling $85,000.
| Awarding Organization | Amount |
|---|---|
Missouri Corporation For Science And Technology Jefferson City, MO PURPOSE: MTC GRANTED FUNDING FOR ASSISTING TECHNOLOGY ENTREPRENEUERS IN EARLY STATE BUSINESS DEVELOPMENT. | $85,000 |
Peer Organizations
| 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 |