Teton Regional Economic Coalition Inc
- Assets
- $62.1k
- Revenue
- $163.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Driggs, ID
- Founding
- 12/2014
- Data as of
- 09/2021
- EIN
- 46-3840777
Organization Overview
Teton Regional Economic Coalition Inc is located in Driggs, ID. The organization was established in 2014. 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 09/2021, Teton Regional Economic Coalition Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teton Regional Economic Coalition Inc 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 09/2021, Teton Regional Economic Coalition Inc generated $163.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $140.9k during the year ending 09/2021. While expenses have increased by 8.2% 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 DEVELOP A STABLE AND DIVERSE ECONOMY BY RETAINING, STRENGTHENING, AND RECRUITING BUSINESSES IN TETON VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXISTING BUSINESS SUPPORT: 1)HELPED BLIXT AND CO. EVALUATE EMPLOYEE HOUSING OPTIONS. THEY PURCHASED THE BIG HOLE BUNK HOUSES. 2)SHARED LOCATION OPPORTUNITIES WITH NEW WEST KNIFEWORKS AND OTHERS. THEY HAVE PURCHASED A HIGHWAY FRONTAGE LOT IN VICTOR AND ARE PLANNING A RETAIL STORE WITH EMPLOYEE HOUSING ABOVE. THEY ALSO ARE BEGINNING A MAJOR EXPANSION OF THEIR PRODUCTION FACILITY. 3)FISHER CREATIVE AND FITZGERALD'S BICYCLES CELEBRATED THEIR NEW SPACES IN VICTOR WITH A HUGE BLOCK PARTY. 4)LODGING SALES DOUBLED SINCE 2020. THIS VISITOR INFLUX IS GOOD FOR BUSINESS, AND NOW WE ARE SEEKING TO MITIGATE THE DOWNSTREAM EFFECTS OF UNAFFORDABLE HOUSING AND TOO FEW WORKERS.
NEW BUSINESS DEVELOPMENT: 1)GIVE'R GLOVE COMPANY PURCHASED THE WILDWOOD ROOM IN VICTOR FOR PRODUCT FINISHING AND FULFILLMENT. THEY AIM TO EMPLOY 20 BY JUNE 1 AND 70 BY 2024 AND WILL INCLUDE SOME EMPLOYEE HOUSING ON THE PROPERTY. 2)AFTER ALMOST EIGHT YEARS OF WORK, KELSON CYCLES HAS PURCHASED LAND UPON WHICH THEY WILL BUILD A LIVE-WORK FACILITY TO MANUFACTURE CUSTOM CARBON FIBER BIKES AND FRAME COMPONENTS. 3)HELPED STARTUP, ARTISAN E-LEARNING, FIND OFFICE SPACE, TALENT, AND TEMPORARY BOARD ROOM EQUIPMENT.
IN 2021, TREC LAUNCHED A MAJOR WEBSITE REBUILD TO ACHIEVE THREE GOALS: 1)REACH AND APPEAL TO A GREATER AUDIENCE 2)BETTER SHOWCASE WHAT TETON VALLEY HAS TO OFFER 3)FACILITATE ACCESS TO USEFUL RESOURCES AND INFORMATION
OTHER TREC ACCOMPLISHMENTS: 1)CREATED MARKETING COUNCIL TO ADDRESS & REVAMP VISITOR MESSAGING 2)DELIVERED NEW "DISCOVER TETON VALLEY" BROCHURE 3)SHIFTED SPENDING FROM PUBLICATION ADVERTISEMENTS TO THE NEW WEBSITE, SPONSORSHIPS, AND MEASUREMENT TOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Mossman Treasurer | OfficerTrustee | 2 | $0 |
Jean Hansen Secretary | OfficerTrustee | 1 | $0 |
Abbott Gilbane Chair | OfficerTrustee | 3 | $0 |
Mark Farmer Vice Chair | OfficerTrustee | 1 | $0 |
Shelby Dyer Director | Trustee | 1 | $0 |
Emily Campbell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,065 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $143,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,822 |
| Total Program Service Revenue | $10,373 |
| Investment income | $0 |
| 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 | $163,195 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,033 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,883 |
| Advertising and promotion | $13,618 |
| Office expenses | $684 |
| Information technology | $2,055 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $752 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $408 |
| Insurance | $2,505 |
| All other expenses | $828 |
| Total functional expenses | $140,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,994 |
| 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 | $973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,102 |
| Total assets | $62,069 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $62,069 |
| 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 | $62,069 |
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South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Bend Visitor & Convention Bureau Bend, OR | $2,809,916 | $4,392,853 |
Visit Spokane Spokane, WA | $4,256,594 | $5,130,887 |
Glacier Country Regional Tourism Commission Inc Missoula, MT | $1,843,193 | $3,815,172 |
Angels For Angels Seattle, WA | $2,495,465 | $5,448,539 |
Columbia Pacific Economic Development District Of Oregon St Helens, OR | $1,194,782 | $2,960,651 |
Eastern Oregon Workforce Investment Board La Grande, OR | $2,038,601 | $2,624,677 |
Greater Seattle Partners Seattle, WA | $2,408,899 | $964,300 |
Southern Oregon Regional Economic Development Inc Medford, OR | $6,059,782 | $2,561,963 |
Lake County Community Development Corporation Ronan, MT | $8,061,823 | $2,376,944 |