Mccook Economic Development Corporation
- Assets
- $6.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Mccook, NE
- Founding
- 12/1985
- Data as of
- 12/2023
- EIN
- 47-0685662
Organization Overview
Mccook Economic Development Corporation is located in Mccook, NE. The organization was established in 1985. 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 12/2023, Mccook Economic Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccook 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, Mccook Economic Development Corporation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $397.7k during the year ending 12/2023. 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
ECONOMIC DEVELOPMENT THROUGH BUSINESS RECRUITING AND HOUSING DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND PROMOTION OF ECONOMIC DEVELOPMENT AND TOURISM IN SOUTHWEST NEBRASKA
DEVELOPMENT OF HOUSING FOR RESIDENTIAL PUPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy Bruntz President | OfficerTrustee | $0 | |
Clint Bryant Director | Trustee | $0 | |
Jerry Calvin Director | Trustee | $0 | |
Kent Craw Director | Trustee | $0 | |
Tracey Mia Director | Trustee | $0 | |
Nick Nothnagel Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,504,319 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,504,319 |
| Total Program Service Revenue | $10,605 |
| Investment income | $19,614 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$145,991 |
| Net Gain/Loss on Asset Sales | -$116,187 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,409,592 |
| 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 | $175,108 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,027 |
| Payroll taxes | $18,129 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,758 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,770 |
| Advertising and promotion | $1,528 |
| Office expenses | $3,213 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,766 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,000 |
| Interest | $1,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,688 |
| All other expenses | $8,705 |
| Total functional expenses | $397,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,518,200 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $234,293 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,735 |
| Net Land, buildings, and equipment | $3,203,054 |
| Investments—publicly traded securities | $4,635 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,813 |
| Total assets | $6,101,896 |
| Accounts payable and accrued expenses | $38,878 |
| Grants payable | $0 |
| Deferred revenue | $2,473 |
| Tax-exempt bond liabilities | $38,194 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $87,612 |
| Unsecured mortgages and notes payable | $57,331 |
| Other liabilities | $4,432 |
| Total liabilities | $228,920 |
| Net assets without donor restrictions | $3,866,054 |
| Net assets with donor restrictions | $2,006,922 |
| 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 | $6,101,896 |