Heart Of America Development Corporation
- Assets
- $2.6m
- Revenue
- $369.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Hays, KS
- Founding
- 07/1985
- Data as of
- 12/2023
- EIN
- 48-0988533
Organization Overview
Heart Of America Development Corporation is located in Hays, KS. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Heart Of America 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 12/2023, Heart Of America Development Corporation generated $369.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $22.0k 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
TO PROMOTE COMMUNITY DEVELOPMENT IN ELLIS COUNTY, KANSAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS CORPORATION WAS ESTABLISHED TO HELP THE COMMUNITY IN RECRUITING NEW EMPLOYMENT OPPURTUNITIES TO THE AREA. A BUILDING WAS ORIGINALLY CONSTRUCTED BY THE CORPORATION TO ENABLE THIS PURPOSE TO BE ACHIEVED BY LEASING THE BUILDING TO NEW BUSINESSES IN THE COMMUNITY. THE BUILDING HAS BEEN SOLD. DEVELOPMENT PROPERTY HAS ALSO BEEN PURCHASED IN AN EFFORT TO BRING NEW BUSINESSES TO THE COMMUNITY. THE CORPORATION IS ALSO IN PROCESS OF DEVELOPING THE DEVELOPMENT PROPERTY PURCHASED AND HAS BEEN WORKING WITH THE CITY OF HAYS ON THE CONSTRUCTION AND DEVELOPMENT OF NEW BUILDINGS AND INFRASTRUCTURE ON THIS PROPERTY. THE CORPORATION IS ALSO DEVELOPING LOTS TO HELP ATTRACT A LARGER WORKFORCE TO THE AREA IN ORDER TO BOLSTER BUSINESS ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Taliaferro Director | Trustee | 1 | $0 |
Mark Mccullick Director | Trustee | 1 | $0 |
Meagan Wellbrock Secretary | OfficerTrustee | 1 | $0 |
Jamie Dreher Treasurer | OfficerTrustee | 1 | $0 |
Andrew Rupp Director | Trustee | 1 | $0 |
Kurt David Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $100,194 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $269,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $369,657 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $657 |
| All other expenses | $0 |
| Total functional expenses | $22,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,421 |
| Savings and temporary cash investments | $15,594 |
| 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 | $288,001 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,238,243 |
| Total assets | $2,551,259 |
| 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 | $100,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $100,000 |
| Net assets without donor restrictions | $2,451,259 |
| 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 | $2,551,259 |