Independence County Economic Development Inc
- Assets
- $2.1m
- Revenue
- $20.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Batesville, AR
- Founding
- 02/2011
- Data as of
- 12/2021
- EIN
- 80-0633627
Organization Overview
Independence County Economic Development Inc is located in Batesville, AR. The organization was established in 2011. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence County Economic Development Inc 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, Independence County Economic Development Inc generated $20.3k 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 (8.0%) each year. All expenses for the organization totaled $4.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (49.0%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES OF THE NONPROFIT CORPORATION SHALL BE TO PROMOTE THE ECONOMIC DEVELOPMENT OF INDEPENDENCE COUNTY, ARKANSAS, TO RECRUIT NEW JOBS AND SEEK TO RETAIN AND ENHANCE EXISTING JOBS IN INDEPENDENCE COUNTY; TO DEVELOP AND MANAGE AN ADEQUATELY FUNDED ECONOMIC DEVELOPMENT PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE NONPROFIT CORPORATION SHALL BE TO PROMOTE THE ECONOMIC DEVELOPMENT OF INDEPENDENCE COUNTY, ARKANSAS, TO RECRUIT NEW BUSINESS WHICH WILL INTURN CREATE NEW JOBS FOR THE RESIDENTS OF THE COUNTY, AND TO ENHANCE EXISTING OPPORTUNITIES FOR BETTER JOBS THRU DEVELOPMENT AND MANAGEMENT OF A COMPREHENSIVE AND ADEQUATELY FUNDED ECONOMIC DEVELOPMENT PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zach Harber President | OfficerTrustee | 1 | $0 |
Tim Stewart Secretary | OfficerTrustee | 1 | $0 |
Brent Henderson Director | Trustee | 1 | $0 |
Brad Covington Director | Trustee | 1 | $0 |
Eric Mohlke Director | Trustee | 1 | $0 |
Tammy Pearce Director | Trustee | 1 | $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 | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,295 |
| 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 | $20,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,150 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,792 |
| Savings and temporary cash investments | $0 |
| 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 | $1,691,247 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,073,039 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $2,073,039 |
| Total liabilities and net assets/fund balances | $2,073,039 |
Grants Awarded
Over the last fiscal year, Independence County Economic Development Inc has awarded $420,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BAD BOY MOWERS INC PURPOSE: Plant expansion and job creartion | $300,000 |
CUSTOM CRAFT POULTRY INC PURPOSE: Plant expansion and eventually 120 n | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |
Northwest Arkansas Economic Development District Inc Harrison, AR | $3,285,809 | $5,390,544 |