Shenandoah Economic Development Corp
- Assets
- $55.6k
- Revenue
- $282.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Shenandoah, IA
- Founding
- 12/1955
- Data as of
- 12/2023
- EIN
- 51-0245749
Organization Overview
Shenandoah Economic Development Corp is located in Shenandoah, IA. The organization was established in 1955. 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, Shenandoah Economic Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shenandoah Economic Development Corp 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, Shenandoah Economic Development Corp generated $282.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $335.9k during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SHENANDOAH CHAMBER & INDUSTRY ASSOCIATION IS TO IMPROVE THE ECONOMIC VITALITY, TO EXPAND HIGH PAYING EMPLOYMENT OPPORTUNITIES, ENHANCE RETAIL SHOPPING, AND TO SUPPORT MAJOR
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHENFEST, FARMERS MARKET, CHRISTMAS, SNO DOUGH, LEGISLATIVE COFFEES, CHOCOLATE WALK, SIDEWALK SALE, MARATHON, MOONLIGHT MADNESS, DISABILITY AWARENESS WALK, EVERLY HERITAGE DAY AND CHAMBER COFFEES - PROMOTE COMMUNITY DEVELOPMENT AND TO SHOWCASE AREA BUSINESSESS AND ACTIVITIES AVAILABLE IN THE COMMUNITY
ANNUAL MEETING - AN EVENT TO PROMOTE NEW ECONOMIC DEVELOPMENT AND EXSISTING RETAIL BUSINESSES AND COMMUNITY SUPPORT AND INVOLVEMENT
BUSINESS & INDUSTRY RECRUITMENT AND RETENTION - BOTH SMALL AND LARGE BUSINESS - ATTRACT BUSINESS & INDUSTRIES TO AID IN ECONOMIC DEVELOPMENT FOR PURPOSE OF PROVIDING EMPLOYMENT OPPORTUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Sells President | OfficerTrustee | 1 | $0 |
Stephanie Osborn Treasurer | OfficerTrustee | 1 | $0 |
Bill Ditmars Vice President | OfficerTrustee | 1 | $0 |
Kerri Nelson Director | Trustee | 1 | $0 |
Amy Zwickel Director | Trustee | 1 | $0 |
Becky Leporte Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $57,970 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $147,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,190 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,069 |
| Total Program Service Revenue | $0 |
| Investment income | $110 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$498 |
| 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 | $282,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $56,838 |
| 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. | $128,369 |
| Compensation of current officers, directors, key employees. | $10,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,952 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,000 |
| Payroll taxes | $10,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,769 |
| Advertising and promotion | $15,667 |
| Office expenses | $7,039 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,580 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25 |
| Interest | $948 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,140 |
| All other expenses | $0 |
| Total functional expenses | $335,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $20,474 |
| 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 | $35,171 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,645 |
| Accounts payable and accrued expenses | $13,913 |
| 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 | $13,913 |
| Net assets without donor restrictions | $0 |
| 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 | $41,732 |
| Total liabilities and net assets/fund balances | $55,645 |