Ada Industrial Development Corporation

Organization Overview

Ada Industrial Development Corporation is located in Ada, OK. The organization was established in 1979. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Ada Industrial Development Corporation 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 03/2024, Ada Industrial Development Corporation generated $1.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (22.5%) each year. All expenses for the organization totaled $3.0k during the year ending 03/2024. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2024

Describe the Organization's Mission:

Part 3 - Line 1

TO ACQUIRE, HOLD AND DEVELOP LAND AND OTHER ASSETS TO BE USED TO ATTRACT INTERESTED BUSINESSES TO THIS AREA TO FURTHER ECOMOMIC DEVELOPMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MISSION OF THE ORGANIZATION IS TO ACQUIRE, HOLD AND DEVELOP LAND AND OTHER ASSETS TO BE USED TO ATTRACT INTERESTED BUSINESSES TO THIS AREA TO FURTHER ECONOMIC DEVELOPMENT.


CONTRIBUTION TO CITY OF ADA TO BE USED FOR COMMUNITY DEVELOPMENT.


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Board, Officers & Key Employees

Name (title)Compensation
James R Hamby
President
$0
Bill Horne Jr
Vice Preside
$0
Steve Bagwell
Treasurer
$0
John Lowry
Assistant Tr
$0
James Eldridge
Secretary
$0
Tom Criswell
Director
$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$0
Investment income $14,242
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$12,829
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 $1,413

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