Lagrange County Economic Development Corporation
- Assets
- $1.0m
- Revenue
- $740.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Lagrange, IN
- Founding
- 08/2009
- Data as of
- 12/2021
- EIN
- 80-0309463
Organization Overview
Lagrange County Economic Development Corporation is located in Lagrange, IN. The organization was established in 2009. 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 12/2021, Lagrange County Economic Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lagrange County Economic 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 12/2021, Lagrange County Economic Development Corporation generated $740.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $831.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Lagrange County Economic Development Corporation has awarded 31 individual grants totaling $480,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LAGRANGE COUNTY ECONOMIC DEVELOPMENT CORPORATION IS THE SINGLE POINT OF CONTACT FOR ECONOMIC DEVELOPMENT EFFORTS IN LAGRANGE COUNTY, INDIANA. WE WORK WITH REGIONAL, STATE AND FEDERAL PARTNERS TO SUPPORT AND ENCOURGAGE OUR CLIENTS' BUSINESS DEVELOPMENT ENDEAVORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED BUSINESS AND OTHER CONTACTS RELATING TO ECONOMIC DEVELOPMENT OF LAGRANGE COUNTY, INDIANA
THE PURPOSE IS TO HIRE THE EXECUTIVE DIRECTOR TO MANAGE THE PRIMARY PURPOSE AND THE EQUIPMENT TO BE ABLE TO EFFECTIVELY OPERATE THE PRIMARY PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Eagleson Chairman | OfficerTrustee | $0 | |
Tj Kempf Treasurer | OfficerTrustee | $0 | |
Mervin Lehman Vice Chairma | OfficerTrustee | $0 | |
Jordi Disler Secretary | Officer | $0 | |
Charles Ashcraft Director | Trustee | $0 | |
Jeff Brill Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $245,461 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,758 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,219 |
| Total Program Service Revenue | $343,582 |
| Investment income | $2,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $740,141 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $515,000 |
| 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. | $90,989 |
| Compensation of current officers, directors, key employees. | $18,198 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,893 |
| Pension plan accruals and contributions | $13,015 |
| Other employee benefits | $7,832 |
| Payroll taxes | $12,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,410 |
| Fees for services: Accounting | $12,231 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $60,808 |
| Advertising and promotion | $16,446 |
| Office expenses | $5,866 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,508 |
| Travel | $4,213 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,159 |
| Interest | $93 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $537 |
| Insurance | $1,286 |
| All other expenses | $0 |
| Total functional expenses | $831,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,418 |
| Savings and temporary cash investments | $950,881 |
| 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 | $8,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,049,299 |
| Accounts payable and accrued expenses | $768 |
| 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 | $768 |
| Net assets without donor restrictions | $1,048,531 |
| 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 | $1,049,299 |
Grants Awarded
Over the last fiscal year, Lagrange County Economic Development Corporation has awarded $480,000 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
COURTSIDE MEXICAN RESTAURANT LLC PURPOSE: COVID RELIEF | $20,000 |
EL ZORRITO 2 LLCCARMELO DOMINGUEZ RODRIGUEZ PURPOSE: COVID RELIEF | $20,000 |
COODY BROWN'S PURPOSE: COVID RELIEF | $20,000 |
FIRESIDE CRAFT BURGERS & BREWSENDEAVOR ENTERPRISES INC PURPOSE: COVID RELIEF | $20,000 |
WOODS TOOE DAVIS ASSOCIATES PURPOSE: COVID RELIEF | $20,000 |
THE BLISH DISH PURPOSE: COVID RELIEF | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lagrange County Economic Development Corporation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Nisource Charitable Foundation Columbus, OH PURPOSE: CORPORATE DONATION | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |