Hancock County Economic Development Corporation
- Assets
- $156.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Carthage, IL
- Founding
- 07/2018
- Data as of
- 12/2022
- EIN
- 46-3327564
Organization Overview
Hancock County Economic Development Corporation is located in Carthage, IL. The organization was established in 2018. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Hancock County Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Hancock County Economic Development Corporation generated $57.6k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $64.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.1%) per year over the past 4 years. 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
2022
Describe the Organization's Program Activity:
Part 3
FOR NEW BUSINESSES AND ENTREPRENEURS THE EXECUTIVE DIRECTOR FACILITATES MAKING BUSINESS PLANS, FINDING FINANCING AND LOCATION. HCEDC SUPPORTS THE CEO (CREATING ENTREPRENUERAL OPPORTUNITIES) PROGRAM FOR OUR HIGH SCHOOL STUDENTS IN HANCOCK COUNTY. THE EXECUTIVE DIRECTOR MEETS PERIODICALLY WITH THE STUDENTS, OBTAINS SPEAKERS FOR THE CLASS, REVIEWS STUDENT BUSINESS PLANS, AND MEETS WITH ALUMNI AFTER GRADUATION. HCEDC PAYS THE ANNUAL ADMINISTRATIVE FEE OF THE PROGRAM IN THE AMOUNT OF $3,000. THE NEW BUSINESS GRANT PROGRAM WAS INSTITUTED AND TW0 BUSINESSES WERE AWARDED $10,000 EACH.FORM 990-EZ, PART III, LINE 29 - SECOND ACCOMPLISHMENTWORKED TO GET COVID RELATED GRANT APPLICATIONS APPROVED FOR A NUMBER OF BUSINESSES DISTRESSED BY COVID LOCKDOWNS. FORM 990-EZ PART 111, LINE 30 - THIRD ACCOMPLISHMENTASSISTED WITH THE CENSUS PROCESS IN HANCOCK COUNTY IN 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenny Roberts Treasurer | 0 | $0 | |
Tom Rodgers Director | 0 | $0 | |
Jim Nightengale Director | 0 | $0 | |
Kevin Six Director | 0 | $0 | |
Walter Sellens Director | 0 | $0 | |
Charles Gilbert Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,074 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $531 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $57,605 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $47,434 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $17,057 |
| Total expenses | $64,491 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $156,832 |
| Other assets | $0 |
| Total assets | $156,832 |
| Total liabilities | $1,829 |
| Net assets or fund balances | $155,003 |