Woodward Industrial Foundation
- Assets
- $5.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Woodward, OK
- Founding
- 01/1987
- Data as of
- 03/2023
- EIN
- 73-1279320
Organization Overview
Woodward Industrial Foundation is located in Woodward, OK. The organization was established in 1987. 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. As of 03/2023, Woodward Industrial Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodward Industrial Foundation 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 03/2023, Woodward Industrial Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $652.5k during the year ending 03/2023. While expenses have increased by 1.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT OF WOODWARD, OK AND NORTHWESTERN OKLAHOMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Case President | 40 | $140,500 | |
Laura Hayes Secretary | Trustee | 1 | $0 |
Logan Hamilton Director | Trustee | 1 | $0 |
Roger Wagner Director | Trustee | 1 | $0 |
Kevin Martin Director | Trustee | 1 | $0 |
Robyn Price Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $61,400 |
| 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 | $61,400 |
| Total Program Service Revenue | $309,430 |
| Investment income | $5,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,297,305 |
| Net Income from Fundraising Events | $1,578 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,674,932 |
| 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. | $140,500 |
| Compensation of current officers, directors, key employees. | $140,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,639 |
| Pension plan accruals and contributions | $4,500 |
| Other employee benefits | $15,800 |
| Payroll taxes | $16,980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $275 |
| Fees for services: Accounting | $6,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $170,525 |
| Advertising and promotion | $1,025 |
| Office expenses | $6,802 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,295 |
| Travel | $1,962 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,670 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,826 |
| Insurance | $3,539 |
| All other expenses | $20,065 |
| Total functional expenses | $652,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $538,345 |
| Savings and temporary cash investments | $480,267 |
| 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 | $1,316 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,281,956 |
| Total assets | $5,301,884 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,822 |
| Total liabilities | $1,822 |
| Net assets without donor restrictions | $5,300,062 |
| 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 | $5,301,884 |