Northwest Arkansas Economic Development District Inc
- Assets
- $6.2m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 134
- Location
- Harrison, AR
- Founding
- 06/1968
- Data as of
- 12/2023
- EIN
- 71-0399224
Organization Overview
Northwest Arkansas Economic Development District Inc is located in Harrison, AR. 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. As of 12/2023, Northwest Arkansas Economic Development District Inc employed 134 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Arkansas Economic Development District 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 12/2023, Northwest Arkansas Economic Development District Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $5.1m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IDENTIFY ECONOMIC DEVELOPMENT OPPORTUNITIES FOR THE DISTRICT'S CONSTITUENCY, OPERATE GOVERNMENTAL PROGRAMS THAT BENEFIT THE NORTHWEST ARKANSAS REGION, AND MANAGE PUBLIC GRANTS AND FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NWAEDD PROVIDES A VARIETY OF SERVICE OFFERINGS, WITH THE TOP THREE BEING ITS TRANSPORTATION DIVISION THROUGH NORTH ARKANSAS TRANSPORTATION SERVICES (NATS), ITS WORKFORCE DIVISION FUNDED THROUGH THE WORKFORCE INNOVATION & OPPORTUNITY ACT (WIOA), AND ITS COMMUNITY DEVELOPMENT DIVISION. NATS PROVIDES A MYRIAD OF TRANSPORTATION SOLUTIONS TO ITS PASSENGERS SUCH AS DEMAND RESPONSE ROUTES, DEVIATED FIXED ROUTES, AND COMMUTER ROUTES. THE WIOA PROGRAM ACCOMMODATES ITS PARTICIPANTS THROUGH EDUCATIONAL & JOB SKILL TRAINING OPPORTUNITIES FOR DISADVANTAGED YOUTH, DISADVANTAGED ADULTS, AND DISLOCATED WORKERS THAT POSITIONS THEM TO ADVANCE THEIR CAREERS. THE COMMUNITY DEVELOPMENT DIVISION SEEKS OUT, APPLIES FOR, AND ADMINISTERS GRANTS ON BEHALF OF ITS MEMBER CITY & COUNTY GOVERNMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Garrett Board Member | Trustee | 1 | $0 |
Doug Sprouse Chairman | OfficerTrustee | 1 | $0 |
Bill Witty Treasurer | OfficerTrustee | 1 | $0 |
Nathan See Board Member | Trustee | 1 | $0 |
Kevin Litty Board Member | Trustee | 1 | $0 |
Hillrey Adams Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,710,976 |
| All other contributions, gifts, grants, and similar amounts not included above | $501,765 |
| Noncash contributions included in lines 1a–1f | $1,143,112 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,212,741 |
| Total Program Service Revenue | $476,803 |
| Investment income | $56,120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,327 |
| Net Gain/Loss on Asset Sales | $44,033 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,403,027 |
| 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. | $115,531 |
| Compensation of current officers, directors, key employees. | $57,765 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,223,054 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $305,129 |
| Payroll taxes | $199,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,114 |
| 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 | $116,514 |
| Advertising and promotion | $22,482 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $174,841 |
| Travel | $18,765 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,071 |
| Interest | $1,813 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $331,766 |
| Insurance | $177,958 |
| All other expenses | $491,451 |
| Total functional expenses | $5,135,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,913,658 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $658,236 |
| 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 | $96,005 |
| Net Land, buildings, and equipment | $2,548,040 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,215,939 |
| Accounts payable and accrued expenses | $248,277 |
| 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 | $22,124 |
| Other liabilities | $503,806 |
| Total liabilities | $774,207 |
| Net assets without donor restrictions | $5,441,732 |
| 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 | $6,215,939 |