Livingston Economic Development Council Inc
- Assets
- $2.6m
- Revenue
- $847.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Walker, LA
- Founding
- 01/1984
- Data as of
- 12/2022
- EIN
- 72-0966247
Organization Overview
Livingston Economic Development Council Inc is located in Walker, LA. The organization was established in 1984. 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 12/2022, Livingston Economic Development Council Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Livingston Economic Development Council 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 12/2022, Livingston Economic Development Council Inc generated $847.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $359.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 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 PROVIDE QUALITY ECONOMIC DEVELOPMENT SERVICES TO ALL AREAS OF LIVINGSTON PARISH
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUED DEVELOPMENT OF LIVINGSTON PARISH INDUSTRIAL PARK AND PROMOTION OF LIVINGSTON PARISH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Bennett Executive Director | Trustee | 40 | $161,600 |
Regina Scott Outgoing Chair | Officer | 1 | $0 |
Josh Prejean Chair | Officer | 1 | $0 |
Buddy Wells Vice-Chair | Officer | 1 | $0 |
Kim Sanders Chair | Officer | 1 | $0 |
John Holmes Vice Chair | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $33,325 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $315,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $149,312 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $498,453 |
| Total Program Service Revenue | $0 |
| Investment income | $2,349 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,938 |
| Net Gain/Loss on Asset Sales | $342,456 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $847,196 |
| 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. | $173,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,976 |
| Pension plan accruals and contributions | $5,058 |
| Other employee benefits | $1,139 |
| Payroll taxes | $10,965 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,019 |
| Fees for services: Accounting | $19,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,300 |
| Office expenses | $12,195 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,974 |
| Travel | $912 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,164 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,667 |
| Insurance | $8,719 |
| All other expenses | $0 |
| Total functional expenses | $359,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,929 |
| Savings and temporary cash investments | $1,086,299 |
| 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 | $5,038 |
| Net Land, buildings, and equipment | $21,661 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $818,205 |
| Total assets | $2,558,132 |
| Accounts payable and accrued expenses | $5,374 |
| 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 | $5,374 |
| Net assets without donor restrictions | $2,552,758 |
| 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 | $2,558,132 |
Grants Awarded
Over the last fiscal year, Livingston Economic Development Council Inc has awarded $103,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOUISIANA COMMUNITY AND TECHNICAL COLLEGE SYSTEM FOUNDATION PURPOSE: GENERAL SUPPORT | $98,000 |
LIVINGSTON PARISH AIRPORT DISTRICT PURPOSE: GENERAL SUPPORTGENERAL SUPPORT | $5,000 |