Grambling Economic Development Corporation
- Assets
- $310.8k
- Revenue
- $282.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Grambling, LA
- Founding
- 04/2015
- Data as of
- 12/2023
- EIN
- 47-2319699
Organization Overview
Grambling Economic Development Corporation is located in Grambling, LA. The organization was established in 2015. 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. Grambling Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Grambling Economic Development Corporation generated $282.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $290.3k during the year ending 12/2023. While expenses have increased by 32.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTANCE TO 13 GRAMBLING STATE UNIVERSITY STUDENTS WITH GRADUATION EXPENSES AND UNEXPECTED EXPENSES.
ASSISTANCE TO 8 GOVERNMENT AND CHARITABLE ORGANIZATIONS TO ASSIST IN CARRYING OUT THEIR CHARITABLE MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward R Jones President | 20 | $67,308 | |
Phyill Miller Member | 1 | $0 | |
Mary Gipson Vice President | 1 | $0 | |
Eddie Robinson III Member | 1 | $0 | |
Linda Butler Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $274,275 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,203 |
| Total Revenue | $282,478 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $67,308 |
| Other employee salaries and wages | $2,692 |
| Pension plans, employee benefits | $0 |
| Interest | $17,404 |
| Taxes | $5,355 |
| Depreciation | $13,990 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $20,070 |
| Printing and publications | $0 |
| Other expenses | $134,473 |
| Total operating and administrative expenses | $289,095 |
| Contributions, gifts, grants paid | $1,250 |
| Total expenses and disbursements | $290,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,483 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $307,363 |
| Other assets | $0 |
| Total assets | $310,846 |
| Accounts payable and accrued expenses | $7,550 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $293,105 |
| Other liabilities | $0 |
| Total liabilities | $300,655 |
Grants Awarded
Over the last fiscal year, Grambling Economic Development Corporation has awarded $1,250 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALPHA OMEGA YOUTH ORGANIZATION PURPOSE: TO SUPPORT THE ORGANIZATION IN ITS MISSION | $250 |
LINCOLN PREPARATORY SCHOOL PURPOSE: TO SUPPORT THE ORGANIZATION IN ITS MISSION | $1,000 |