The Economic Development Partnership Of Alabama Inc is located in Birmingham, AL. The organization was established in 1991. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Economic Development Partnership Of Alabama Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Partnership Of Alabama Inc 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 12/2021, Economic Development Partnership Of Alabama Inc generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $5.7m during the year ending 12/2021. While expenses have increased by 8.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE ECONOMIC AND BUSINESS GROWTH IN ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A COMPREHENSIVE RESEARCH AND DATA BASE PROGRAM IS MAINTAINED TO PROVIDE INFORMATION TO ASSIST IN RECRUITING AND RETAINING BUSINESS IN THE STATE.
A BUSINESS INTELLIGENCE PROGRAM THAT CONDUCTS INDUSTRY SECTOR AND COMPANY RESEARCH USED TO IDENTIFY STRATEGIC OPPORTUNITIES FOR THE STATE OF ALABAMA.
A TALENT RETENTION PROGRAM THAT FOCUSES ON INTRODUCING ALABAMA COLLEGE AND UNIVERSITY STUDENTS TO COMMUNITIES IN THE STATE AND CAREER OPPORTUNITIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Sewell Executive Vice President | 36 | $211,661 | |
Miller Girvin Executive Vice President Of Innovation & Entrepr. | Officer | 2 | $182,728 |
Ernie Cowart Vice President | Officer | 36 | $137,772 |
Bakari Miller Vice President Of Business Development | Officer | 40 | $130,133 |
Katherine Hughes Vice President Of Innovation & Talent | Officer | 0 | $108,617 |
Mark Crosswhite Chairman | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Techstars Central Llc Dba Pbts Ll Programatic Services | 12/30/21 | $1,950,000 |
Atlas Rfid Solutions Store Llc Programatic Services | 12/30/21 | $528,443 |
Parkside Bakery Investment Partners Llc Rent | 12/30/21 | $414,695 |
Dennis Leonard Programatic Services | 12/30/21 | $264,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $899,000 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,656,736 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,555,736 |
Total Program Service Revenue | $2,472,221 |
Investment income | $28,569 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
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 | $5,250,949 |
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. | $517,971 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $473,877 |
Pension plan accruals and contributions | $116,242 |
Other employee benefits | $128,774 |
Payroll taxes | $86,556 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $82,315 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $430,499 |
Advertising and promotion | $130,058 |
Office expenses | $5,002 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $372,358 |
Travel | $36,129 |
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 | $335,240 |
Insurance | $45,609 |
All other expenses | $194,078 |
Total functional expenses | $5,694,366 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $878,204 |
Savings and temporary cash investments | $9,471,901 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $146,314 |
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 | $44,502 |
Net Land, buildings, and equipment | $1,210,327 |
Investments—publicly traded securities | $721,431 |
Investments—other securities | $3,692,200 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $29,000 |
Total assets | $16,193,879 |
Accounts payable and accrued expenses | $8,118 |
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 | $9,786,425 |
Total liabilities | $9,794,543 |
Net assets without donor restrictions | $6,399,336 |
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 | $16,193,879 |
Over the last fiscal year, we have identified 1 grants that The Economic Development Partnership Of Alabama Inc has recieved totaling $25,000.
Awarding Organization | Amount |
---|---|
Protective Life Foundations Birmingham, AL PURPOSE: GRANTS PAID TO 501(C)(3) EXEMPT ORGANIZATIONS | $25,000 |
Organization Name | Assets | Revenue |
---|---|---|
Miami Association Of Realtors Inc Miami, FL | $56,284,695 | $21,744,917 |
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Orlando Regional Realtor Association Inc Orlando, FL | $41,443,880 | $9,652,407 |
Jacksonville Regional Chamber Of Commerce Inc Jacksonville, FL | $9,462,619 | $9,572,618 |
Orlando Economic Partnership Inc Orlando, FL | $7,838,258 | $8,634,020 |
Florida Chamber Of Commerce Tallahassee, FL | $11,287,883 | $6,720,102 |
The Economic Development Partnership Of Alabama Inc Birmingham, AL | $16,193,879 | $5,250,949 |
Gwinnett Chamber Of Commerce Inc Duluth, GA | $6,627,911 | $6,072,892 |
Sevierville Chamber Of Commerce Inc Sevierville, TN | $2,086,252 | $5,895,528 |
Community Development Foundation Tupelo, MS | $26,378,062 | $9,486,414 |
Jacksonville And The Beaches Convention & Visitors Bureau Inc Jacksonville, FL | $1,089,102 | $5,103,594 |