G P E D C Inc
- Assets
- $6.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Paducah, KY
- Founding
- 02/1992
- Data as of
- 06/2022
- EIN
- 61-1181577
Organization Overview
G P E D C Inc is located in Paducah, KY. The organization was established in 1992. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. G P E D C 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, G P E D C Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $741.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 6 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 DEVELOP AND MARKET INDUSTRIAL-RELATED REAL AND PERSONAL PROPERTIES SOLELY FOR THE PURPOSE OF CREATING JOBS AND ADDITIONAL CAPITAL INVESTMENT IN THE GREATER PADUCAH AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC GROWTH AND DEVELOPMENT IN THE PADUCAH, KY AREA BY DEVELOPING AND MARKETING REAL AND PERSONAL PROPERTY FOR THIS PURPOSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen Anderson Past Chair | OfficerTrustee | 0 | $0 |
Greg Grissom Director | Trustee | 0 | $0 |
Nora Rikel Asst Secretary | Trustee | 0 | $0 |
Cory Hicks Director | Trustee | 0 | $0 |
Jp Kelly Chairman | Trustee | 0 | $0 |
George Bray Director | Trustee | 0 | $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 | $967,177 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $967,177 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,028,258 |
| 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. | $217,085 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $90,995 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,541 |
| Payroll taxes | $19,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $340 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,257 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,840 |
| Travel | $25,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,844 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,855 |
| Insurance | $9,080 |
| All other expenses | $0 |
| Total functional expenses | $741,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $655,171 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,521 |
| 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 | $26,125 |
| Net Land, buildings, and equipment | $19,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,420,875 |
| Total assets | $6,224,910 |
| Accounts payable and accrued expenses | $28,223 |
| Grants payable | $0 |
| Deferred revenue | $5,700 |
| 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 | $3,250,352 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,284,275 |
| Net assets without donor restrictions | $2,940,635 |
| 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 | $6,224,910 |