Rhea Economic And Tourism Council Inc
- Assets
- $546.5k
- Revenue
- $615.2k
- Investments
- $200.0k
- Employees
- 3
- Location
- Dayton, TN
- Founding
- 09/1998
- Data as of
- 06/2021
- EIN
- 62-1670064
Organization Overview
Rhea Economic And Tourism Council Inc is located in Dayton, TN. The organization was established in 1998. 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. As of 06/2021, Rhea Economic And Tourism Council Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhea Economic And Tourism Council Inc 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 06/2021, Rhea Economic And Tourism Council Inc generated $615.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $723.5k during the year ending 06/2021. While expenses have increased by 11.2% per year over the past 6 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
FUTHERING THE ECONOMIC DEVELOPMENT, SOCIAL WELFARE AND COMMON GOOD OF CITIZENS OF RHEA COUNTY TN AND THE SURROUNDING TRADE AREA BY DEVELOPMENT OF JOB OPPORTUNITIES, ENCOURAGE THE GROWTH OF EXISTING BUSINESSES, ENCOURAGE THE GROWTH OF TOURISM AND FURTHER TOURISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT EXPENSE WORK TO RETAIN EXISTING INDUSTRY, ASSIST THEM WITH EXPANSIONS, EDUCATING THE WORK FORCE AND ADVOCATE FOR THEM WITH LOCAL AND STATE OFFICIALS. STRIVE TO ATTRACT NEW INDUSTRY AND JOBS TO THE AREA THROUGH COLLABORATION WITH STATE AND LOCAL OFFICIALS. AS THESE OPPORTUNITIES DEVELOP THEY PROVIDE INCOME, JOBS AND TAX REVENUES FOR THE CITY AND COUNTY WHICH IN TURN PROVIDES FUNDS TO RHEA ECONOMIC AND TOURISM COUNCIL FOR DAILY OPERATIONS AND ON GOING ECONOMIC DEVELOPMENT. ECONOMIC AND INDUSTRY DEVELOPMENT TOURISM AND MARKETING EDUCATION AND INDUSTRIAL TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Bamber Executive Director | Officer | 40 | $65,714 |
Gary Louallen Chairman (7/1/20-4/30/21) | OfficerTrustee | 1 | $0 |
Jim Reed Vice-Chairman | OfficerTrustee | 1 | $0 |
Vaughn Berger Treasurer/secretary | OfficerTrustee | 5 | $0 |
Teresa Congioloso Director (11/1/20-6/30/21) | Trustee | 1 | $0 |
Bill Pryor Director (7/1/20-10/31/20) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $349,707 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,513 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $364,220 |
| Total Program Service Revenue | $211,715 |
| Investment income | $156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,598 |
| 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 | $615,241 |
| 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. | $61,047 |
| Compensation of current officers, directors, key employees. | $61,047 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,992 |
| Payroll taxes | $8,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $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 | $0 |
| Interest | $3,929 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,253 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $723,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210 |
| Savings and temporary cash investments | $67,610 |
| Pledges and grants receivable | $40,000 |
| Accounts receivable, net | $56,851 |
| 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 | $0 |
| Net Land, buildings, and equipment | $181,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $200,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $546,538 |
| Accounts payable and accrued expenses | $11,275 |
| Grants payable | $0 |
| Deferred revenue | $68,733 |
| 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 | $57,777 |
| Unsecured mortgages and notes payable | $24,000 |
| Other liabilities | $0 |
| Total liabilities | $161,785 |
| Net assets without donor restrictions | $180,768 |
| Net assets with donor restrictions | $203,985 |
| 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 | $546,538 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rhea Economic And Tourism Council Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Lyndhurst Foundation Inc Chattanooga, TN PURPOSE: PLAY IN RHEA - CENTENNIAL PARK PROJECT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
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 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
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 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |