The Welch Area Development Authority
- Assets
- $219.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Welch, OK
- Founding
- 07/1994
- Data as of
- 12/2021
- EIN
- 73-1375721
Organization Overview
The Welch Area Development Authority is located in Welch, OK. The organization was established in 1994. 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. Welch Area Development Authority 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 12/2021, Welch Area Development Authority generated $64.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 57.1% each year . All expenses for the organization totaled $37.5k during the year ending 12/2021. While expenses have increased by 64.5% per year over the past 7 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
FUNDS TOWARD NEW DOWNTOWN BUSINESS PROJECT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernest Callison Vice President | 4 | $0 | |
Linda Jorgenson Treasurer | 4 | $0 | |
Dr Rc Mckeon Director | 2 | $0 | |
Robert Neill Director | 4 | $0 | |
Charles Stoner Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $62,500 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $41 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,819 |
| Total Revenue | $64,360 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $817 |
| Total expenses | $37,528 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $7,009 |
| Other assets | $0 |
| Total assets | $219,644 |
| Total liabilities | $7,650 |
| Net assets or fund balances | $211,994 |
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