Northwest Kansas Economic Innovation Center Inc
- Assets
- $12.2m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Norton, KS
- Founding
- 04/2017
- Data as of
- 12/2023
- EIN
- 81-1203323
Organization Overview
Northwest Kansas Economic Innovation Center Inc is located in Norton, KS. The organization was established in 2017. 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 12/2023, Northwest Kansas Economic Innovation Center Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Kansas Economic Innovation Center 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 12/2023, Northwest Kansas Economic Innovation Center Inc generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $3.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2023, Northwest Kansas Economic Innovation Center Inc has awarded 17 individual grants totaling $1,467,475. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ACCESS TO CAPITAL TO BUSINESS VENTURES THAT CREATE, OR WILL CREATE, A POSITIVE ENHANCEMENT IN ECONOMIC OPPORTUNITIES IN THE REGION.
CHILDCARE-EARLY CHILDHOOD EDUCATION PLAYS A PIVOTAL ROLE IN THE QUALITY OF LIFE AND ECONOMIC HEALTH OF A COMMUNITY. A LACK OF CHILDCARE OPTIONS HAS AN ADVERSE EFFECT ON THE ECONOMY BY CAUSING FEWER HOMES SOLD, FEWER CHILDREN IN OUR SCHOOLS, AND RECRUITING DIFFICULTIES FOR OUR BUSINESSES. LACK OF QUALITY CHILDCARE IS ONE OF THE MAIN CAUSES OF THE POPULATION DRAIN. BY HAVING A CHILDCARE PROGRAM SPECIALIST, THE NWKEICI IS BETTER ABLE TO TACKLE THIS SERIOUS ISSUE.
TECHNOLOGY ADVANCEMENT AND ASSISTANCE PROGRAM-THIS PROGRAM HELPS TO PROVIDE EDUCATION AND TRAINING IN ORDER TO ASSIST LOCAL RESIDENTS IN FINDING EMPLOYMENT OPTIONS TO ALLOW THEM TO HAVE A HIGHER QUALITY OF LIFE. TRAINING IS AVAILABLE IN BLOCKCHAIN ANALYTICS, COMPUTER CODING LANGUAGES, AND REMOTE WORK TRAINING. BUILDING A TECHNOLOGY ECOSYSTEM IN NORTHWEST KANSAS WILL ATTRACT RESIDENTS TO THE AREA.
HOUSING-THE NWKEICI RECOGNIZES THAT LACK OF QUALITY, AFFORDABLE HOUSING HAS A SIGNIFICANT IMPACT ON RETAINING AND ATTRACTING RESIDENTS TO THE AREA. IN ORDER TO PREVENT THE CONTINUING POPULATION DRAIN, A SOLUTION (OR SOLUTIONS) TO THE HOUSING CRISIS NEED TO BE DEVELOPED. THE NWKEICI HAS STARTED TO EXPLORE ALTERNATIVE BUILDING SOURCES TO SEE IF ANY OPTION WOULD PROVIDE A MORE ECONOMICAL SOLUTION TO BUILDING HOUSES IN NORTHWEST KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Sproul CEO | 40 | $173,000 | |
Mark Lowry Director | 5 | $10,200 | |
Mike Posson Chairman | 5 | $10,200 | |
Morris Engle Secretary | 5 | $10,200 | |
Doug Albin Treasurer | 5 | $0 | |
Jenny Russell Director | 5 | $850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Makemymove | 12/30/23 | $280,000 |
Jenrus Freelance | 12/30/23 | $67,193 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,029,050 |
| Interest on Savings | $8,676 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $120,649 |
| Total Revenue | $6,158,375 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $216,350 |
| Other employee salaries and wages | $452,025 |
| Pension plans, employee benefits | $9,579 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $8,836 |
| Occupancy | $41,737 |
| Travel, conferences, and meetings | $30,196 |
| Printing and publications | $0 |
| Other expenses | $835,854 |
| Total operating and administrative expenses | $1,638,831 |
| Contributions, gifts, grants paid | $1,467,475 |
| Total expenses and disbursements | $3,106,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,081,318 |
| Savings and temporary cash investments | $1,829,583 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $9,272,316 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $40,104 |
| Other assets | $14,501 |
| Total assets | $12,237,822 |
| Accounts payable and accrued expenses | $4,276 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,276 |
Grants Awarded
Over the last fiscal year, Northwest Kansas Economic Innovation Center Inc has awarded $1,467,475 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF CUBA PURPOSE: HOUSING | $750 |
CITY OF OSBORNE PURPOSE: HOUSING | $750 |
CITY OF HILL CITY PURPOSE: HOUSING | $2,250 |
SMITH CENTER ECONOMIC DEVELOPMENT PURPOSE: WORKFORCE DEVELOPMENT | $30,000 |
CITY OF OAKLEY PURPOSE: HOUSING | $750 |
PHILLIPS COUNTY ECONOMIC DEVELOPMEN PURPOSE: WORKFORCE DEVELOPMENT | $30,000 |