Northwood Economic Development Corporation
- Assets
- $420.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Northwood, IA
- Founding
- 06/2016
- Data as of
- 12/2019
- EIN
- 47-4877077
Organization Overview
Northwood Economic Development Corporation is located in Northwood, IA. The organization was established in 2016. 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. Northwood 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 12/2019, Northwood Economic Development Corporation generated $1.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (67.5%) each year. All expenses for the organization totaled $642.0 during the year ending 12/2019. 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
2019
Describe the Organization's Program Activity:
Part 3
PROMOTE NORTHOOD IA AREA ECONOMIC DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Petznick President | 2 | $0 | |
Aaron Carman Treasurer | 10 | $0 | |
Dan Hendrikson Vice President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $1,487 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $1,487 |
| 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 | $0 |
| Occupancy, rent, utilities, and maintenance | $583 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $59 |
| Total expenses | $642 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $140,629 |
| Other assets | $0 |
| Total assets | $420,121 |
| Total liabilities | $0 |
| Net assets or fund balances | $420,121 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Mhub Chicago, IL | $5,077,327 | $6,781,086 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Chicago Neighborhood Initiatives Inc Chicago, IL | $28,044,875 | $6,086,031 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |