Economic Development Corporation
- Assets
- $363.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Elk Point, SD
- Founding
- Data as of
- 12/2023
- EIN
- 43-2016069
Organization Overview
Economic Development Corporation is located in Elk Point, SD. 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. 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, Economic Development Corporation generated $51.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $53.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
CURRENTLY THE ELK POINT ECONOMIC DEVELOPMENT CORP. IS FILLING OUR BUSINESS PARK. IN 2019 WE COMPLETED THE CONSTRUCTION OF OUR BUSINESS PARK, WE HAVE ONE TENANT AND ARE HOPING TO HAVE A SECOND BY THE END OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Tuttle Director | 12 | $0 | |
Brian Coyle President | 2 | $0 | |
Brian Chicoine Treasurer | 2 | $0 | |
Deb Mccreary Secretary | 3 | $0 | |
Troy Donnelly Vice President | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $51,928 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $51,928 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $53,585 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $0 |
| Total expenses | $53,585 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $157,092 |
| Other assets | $0 |
| Total assets | $363,547 |
| Total liabilities | $0 |
| Net assets or fund balances | $363,547 |