Gadsden-Etowah Industrial Development Authority
- Assets
- $1.0m
- Revenue
- $627.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Gadsden, AL
- Founding
- 06/1988
- Data as of
- 09/2024
- EIN
- 63-0888911
Organization Overview
Gadsden-Etowah Industrial Development Authority is located in Gadsden, AL. The organization was established in 1988. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2024, Gadsden-Etowah Industrial Development Authority employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gadsden-Etowah Industrial Development Authority 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 09/2024, Gadsden-Etowah Industrial Development Authority generated $627.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $511.8k during the year ending 09/2024. While expenses have increased by 16.4% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK WITH LOCAL GOVERNMENTS TO ATTRACT AND EXPAND LOCAL BUSINESSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE INDUSTRY AND DEVELOP TRADE BY INDUCING MANUFACTURING, INDUSTRIAL, AND COMMERCIAL ENTERPRISES TO LOCATE IN ETOWAH COUNTY, ALABAMA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Harris President | OfficerTrustee | 1 | $0 |
Jeff Allen Finance Chai | OfficerTrustee | 1 | $0 |
Tim Mccartney Secretary | OfficerTrustee | 1 | $0 |
Kathy Murphy President El | Trustee | 1 | $0 |
Jeff Lankford Director | Trustee | 1 | $0 |
Chad Hare Director | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $618,004 |
| Investment income | $11,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,506 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,839 |
| 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. | $238,116 |
| Compensation of current officers, directors, key employees. | $59,529 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,457 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,553 |
| Payroll taxes | $18,021 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,053 |
| Fees for services: Accounting | $8,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $59,772 |
| Office expenses | $26,966 |
| Information technology | $6,960 |
| Royalties | $0 |
| Occupancy | $18,300 |
| Travel | $15,485 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,865 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,765 |
| Insurance | $5,881 |
| All other expenses | $536 |
| Total functional expenses | $511,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $508,769 |
| Savings and temporary cash investments | $353,980 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $84,059 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,878 |
| Total assets | $1,035,686 |
| Accounts payable and accrued expenses | $4,022 |
| 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 | $88,878 |
| Total liabilities | $92,900 |
| Net assets without donor restrictions | $942,786 |
| 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 | $1,035,686 |