Southern Economic Development Council Inc
- Assets
- $431.2k
- Revenue
- $721.6k
- Investments
- $77.2k
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 10/1968
- Data as of
- 12/2021
- EIN
- 58-6075177
Organization Overview
Southern Economic Development Council Inc is located in Atlanta, GA. The organization was established in 1968. 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. Southern Economic Development Council 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, Southern Economic Development Council Inc generated $721.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $641.5k during the year ending 12/2021. 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
PURSUE HIGH PERSONAL AND PROFESSIONAL STANDARDS TO ENHANCE THE IMAGE OF THE ECONOMIC DEVELOPMENT PROCESS. 2) PROVIDE PROFESSIONAL SERVICE AND EDUCATIONAL OPPORTUNITIES TO DEVELOP AND IMPROVE MEMBER SKILLS. 3) IMPROVE QUALITY OF LIFE OF CITIZENS OF REGION THROUGH IMPLEMENTATION, CREATION & RETENTION OF QUALITY EMPLOYMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGISTRANTS ATTENDED VARIOUS ECONOMIC DEVELOPMENT CONFERENCES AND MEMBER ORIENTED EVENTS & SEMINARS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gene Stinson Immediate Past President | Trustee | 1 | $140,283 |
Matthew Tackett President | OfficerTrustee | 40 | $0 |
Scott Poag First Vice Chairman | Trustee | 1 | $0 |
Keith Norden Southeast Regional Directo | Trustee | 1 | $0 |
Jana Dyke Secretary / Treasurer | Trustee | 1 | $0 |
Frank Mccrady Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $186,878 |
| 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 | $186,878 |
| Total Program Service Revenue | $466,867 |
| Investment income | $101 |
| 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 | $721,605 |
| 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. | $140,283 |
| Compensation of current officers, directors, key employees. | $70,141 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,969 |
| Pension plan accruals and contributions | $9,705 |
| Other employee benefits | $16,760 |
| Payroll taxes | $16,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,504 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,690 |
| 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 | $286,097 |
| Interest | $1,667 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,113 |
| Insurance | $8,921 |
| All other expenses | $27,492 |
| Total functional expenses | $641,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,055 |
| Savings and temporary cash investments | $219,942 |
| Pledges and grants receivable | $150 |
| 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 | $1,258 |
| Net Land, buildings, and equipment | $118,193 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $77,241 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $347 |
| Total assets | $431,186 |
| Accounts payable and accrued expenses | $10,253 |
| Grants payable | $0 |
| Deferred revenue | $12,250 |
| 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 | $116,258 |
| Total liabilities | $138,761 |
| Net assets without donor restrictions | $292,425 |
| 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 | $431,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |