Webster County Ecomonic Development Corporation Inc
- Assets
- $117.2k
- Revenue
- $22.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Dixon, KY
- Founding
- 07/1990
- Data as of
- 06/2022
- EIN
- 61-1155497
Organization Overview
Webster County Ecomonic Development Corporation Inc is located in Dixon, KY. The organization was established in 1990. 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. Webster County Ecomonic Development Corporation 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 06/2022, Webster County Ecomonic Development Corporation Inc generated $22.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Webster County Ecomonic Development Corporation Inc has awarded 12 individual grants totaling $1,227,463. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ECONOMIC DEVELOPMENT IN WEBSTER COUNTY BY CREATING OPPORTUNITIES IN CONJUNCTION WITH OTHER ORGANIZATIONS TO OBTAIN GRANTS AND PROVIDE SEED MONEY TO NEW AND EXISTING BUSINESSES UNDER STATE MANDATED GUIDELINES FOR SUCH MONIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shellie K Utley Treasurer | OfficerTrustee | $0 | |
Nicholas Whitledge Chairman | Trustee | $0 | |
Michael Farris Officer | Trustee | $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 | $0 |
| Investment income | $22,798 |
| 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 | $22,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,088,748 |
| 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 | $46 |
| Fees for services: Accounting | $50 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15 |
| Advertising and promotion | $0 |
| Office expenses | $860 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,089,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3 |
| Savings and temporary cash investments | $63,490 |
| 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 | $53,743 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $117,236 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $117,236 |
| 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 | $117,236 |
Grants Awarded
Over the last fiscal year, Webster County Ecomonic Development Corporation Inc has awarded $262,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WEBSTER COUNTY FISCAL COURT PURPOSE: FISCAL COURT GRANT | $250,000 |
KYNDLE PURPOSE: REGIONAL ECONOMIC GR | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Embarras River Basin Agency Inc Greenup, IL | $2,961,671 | $18,793,359 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Tri-County Opportunities Council Rock Falls, IL | $4,101,390 | $18,238,868 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
Inner-City Muslim Action Network Chicago, IL | $22,441,569 | $25,574,850 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Will County Center For Community Concerns Inc Joliet, IL | $2,259,108 | $13,384,526 |