Okmulgee Area Development Corporation
- Assets
- $1.1m
- Revenue
- $400.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Okmulgee, OK
- Founding
- 09/1996
- Data as of
- 06/2023
- EIN
- 73-1495059
Organization Overview
Okmulgee Area Development Corporation is located in Okmulgee, OK. The organization was established in 1996. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Okmulgee Area Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Okmulgee Area Development Corporation 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 06/2023, Okmulgee Area Development Corporation generated $400.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $168.1k during the year ending 06/2023. While expenses have increased by 11.3% 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 IN OKMULGEE COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OKMULGEE AREA DEVELOPMENT CORPORATION (OADC) IS A PRIVATELY FUNDED NON-PROFIT ORGANIZATION TO PROMOTE ECONOMIC DEVELOPMENT FOR THE OKMULGEE COUNTY AREA. ESTABLISHED IN 1996 AS A 501(C)3, OUR OFFICE SERVES AS A "ONE-STOP SHOP" FOR ECONOMIC DEVELOPMENT BY COORDINATING WITH THE CITY, COUNTY, STATE AND OTHER GOVERNMENTAL ENTITIES AT THE STATE & FEDERAL LEVELS. THIS ENSURES A SMOOTH AND STRAIGHT FORWARD DEVELOPMENT PROCESS. THE OADC ALSO PARTNERS WITH OTHER ORGANIZATIONS IN SUPPORT OF COMMUNITY DEVELOPMENT PROGRAMS AND PROJECTS AND PROMOTION OF THE AREA SUCH AS STATE AND LOCAL GOVERNMENT, EDUCATORS, TRAINING PROVIDERS, FINANCIAL INSTITUTIONS AND BUSINESS. AS THE LEAD ECONOMIC DEVELOPMENT ENTITY IN OKMULGEE COUNTY, WE FACILITATE THE DEVELOPMENT OF AVAILABLE PROPERTIES--INDUSTRIAL, COMMERCIAL AND RETAIL. ONE OF OUR CORE COMPETENCIES IS ASSISTING AND BUILDING RELATIONSHIPS WITH OTHER DEVELOPMENT ORGANIZATIONS IN AND AROUND OKMULGEE AND IN THE STATE OF OKLAHOMA. THE OADC'S MISSION IS TO RETAIN EXISTING JOBS, ENCOURAGE GROWTH AND EXPANSION OF CURRENT INDUSTRIAL COMPANIES, RECRUIT NEW INDUSTRIAL BUSINESSES TO INVEST IN THE COMMUNITY, SUPPORT LOCAL EDUCATION AND HIGHER EDUCATION FOR WORKFORCE DEVELOPMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Court Newkirk Executive Dir. | Trustee | 40 | $66,467 |
John Fidler Board Member | Trustee | 0 | $0 |
Roger King Board Member | Trustee | 0 | $0 |
Deanna Roberts Board Member | Trustee | 0 | $0 |
Ron Goedecke Chair Infrastru | Trustee | 0 | $0 |
Tim Smith Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $107,101 |
| All other contributions, gifts, grants, and similar amounts not included above | $163,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $270,801 |
| Total Program Service Revenue | $0 |
| Investment income | $4,930 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $124,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $400,596 |
| 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. | $66,467 |
| Compensation of current officers, directors, key employees. | $6,647 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,000 |
| Payroll taxes | $8,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,350 |
| Fees for services: Accounting | $3,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,748 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,246 |
| All other expenses | $3,480 |
| Total functional expenses | $168,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,944 |
| Savings and temporary cash investments | $373,301 |
| 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 | $241,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,000 |
| Total assets | $1,109,743 |
| Accounts payable and accrued expenses | $2,605 |
| 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 | $2,605 |
| Net assets without donor restrictions | $1,063,681 |
| Net assets with donor restrictions | $43,457 |
| 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 | $1,109,743 |