Carroll County Economic Development
- Assets
- $6.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Carrollton, GA
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 58-2589709
Organization Overview
Carroll County Economic Development is located in Carrollton, GA. The organization was established in 2002. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Carroll County Economic Development employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll County Economic Development 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 12/2022, Carroll County Economic Development generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A STRONGER ECONOMY, TO ENHANCE THE OVERALL QUALITY OF LIFE, TO ENHANCE THE EDUCATION LEVEL OF THE WORKFORCE AND TO DEVELOP STRONG COMMUNITY LEADERSHIP AND EFFECTIVE GOVERNMENT IN CARROLL COUNTY, GEORGIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
6 NEW COMPANIES, 9 RFIS, AND 13 EXISTING INDUSTRY EXPANSIONS. PROVIDED EXTENSIVE SUPPORT SERVICES TO EXISTING INDUSTRY REGARDING UPCOMING EXPANSIONS THROUGH EXISTING INDUSTRY ROUND-TABLES. PROVIDED ECONOMIC DEVELOPMENT AND ADMINISTRATIVE SUPPORT SERVICES TO THE DEVELOPMENT AUTHORITY OF CARROLL COUNTY, THE CARROLLTON PAYROLL DEVELOPMENT AUTHORITY, AND THE VILLA RICA DEVELOPMENT AUTHORITY
PROVIDED PERSONNEL MANAGEMENT AND ADMINISTRATIVE SERVICES FOR THE CARROLL COUNTY CHAMBER OF COMMERCE AND ITS STAFF FOR 2022. THE CHAMBER MEMBERSHIP AS OF 12/31/2022 WAS 658 MEMBERS.
STARTED THE RETAIL AND AMENITIES PROGRAM TO ATTRACT AND RECRUIT NEW RESTAURANT AND RETAIL TO CARROLL COUNTY. ALSO BEGAN THE WORKFORCE INITIATIVE PROJECT WITH UNIVERSITY OF GEORGIA CVIOG TO CREATE A COUNTY WORKFORCE STRATEGY GUIDE. CONDUCTED SEVERAL MEETINGS WITH A TARGETED LIST OF IDEAL OPPORTUNITIES THAT ALIGN WITH THE CITIES AND COUNTY'S COMPREHENSIVE PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Handel President & CEO | OfficerTrustee | 30 | $241,583 |
Betty Cason Director | Trustee | 1 | $0 |
Bill Stone Treasurer | OfficerTrustee | 1 | $0 |
Ben Butler Exec Committee | OfficerTrustee | 1 | $0 |
Michelle Morgan Director | Trustee | 1 | $0 |
Tim Warren Vice Chair | OfficerTrustee | 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 | $2,112,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,112,002 |
| Total Program Service Revenue | $328,079 |
| Investment income | $13,586 |
| 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 | $2,477,990 |
| 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. | $302,411 |
| Compensation of current officers, directors, key employees. | $30,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,129 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,441 |
| Payroll taxes | $32,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,368 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $144,470 |
| Advertising and promotion | $37,240 |
| Office expenses | $21,133 |
| Information technology | $24,923 |
| Royalties | $0 |
| Occupancy | $16,501 |
| Travel | $5,653 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,593 |
| Interest | $286 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,769 |
| Insurance | $9,902 |
| All other expenses | $7,139 |
| Total functional expenses | $1,089,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,006,240 |
| Savings and temporary cash investments | $1,508,834 |
| Pledges and grants receivable | $3,234,160 |
| Accounts receivable, net | $27,529 |
| 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 | $6,234 |
| Net Land, buildings, and equipment | $70,248 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,334 |
| Total assets | $6,006,579 |
| Accounts payable and accrued expenses | $7,153 |
| 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 | $153,334 |
| Total liabilities | $160,487 |
| Net assets without donor restrictions | $2,611,933 |
| Net assets with donor restrictions | $3,234,159 |
| 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 | $6,006,579 |