Greater Lafayette Commerce Community & Economic Development F
- Assets
- $646.7k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Lafayette, IN
- Founding
- 02/2018
- Data as of
- 12/2022
- EIN
- 81-3745360
Organization Overview
Greater Lafayette Commerce Community & Economic Development F is located in Lafayette, IN. The organization was established in 2018. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, 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. Greater Lafayette Commerce Community & Economic Development F 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 12/2022, Greater Lafayette Commerce Community & Economic Development F generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.1% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO CONDUCT, SUPPORT, ENCOURAGE, AND ASSIST THE COMMON GOOD AND WELFARE OF THE CITIZENS OF LAFAYETTE, WEST LAFAYETTE, TIPPECANOE COUNTY AND THE WEST CENTRAL REGION OF INDIANA IT SERVES. IN ADDITION, 1) THE FOUNDATION OPERATES AS A SUPPORTING ORGANIZATION FOR THE SUPPORT AND BENEFIT OF LAFAYETTE-WEST LAFAYETTE DEVELOPMENT CORPORATION (D/B/A GREATER LAFAYETTE COMMERCE) TO SOLICIT FUNDS TO SUPPORT ECONOMIC AND COMMUNITY DEVELOPMENT PROGRAMS AND PROJECTS OF GREATER LAFAYETTE COMMERCE, 2)TO SOLICIT CHARITABLE CONTRIBUTIONS AND OTHER FUNDS FOR AND TO PROVIDE OTHER BENEFITS FOR THE SUPPORT AND BENEFIT OF AND IN CONJUNCTION WITH ECONOMIC AND COMMUNITY DEVELOPMENT PROGRAMS AND PROJECTS OF GREATER LAFAYETTE COMMERCE, AND 3)TO COOPERATE, COLLABORATE AND WORK WITH OTHER ORGANIZATIONS INCLUDING, BUT NOT LIMITED TO, GREATER LAFAYETTE COMMERCE TO PURSUE AND ACHIEVE THE PURPOSES SET OUT ABOVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ORGANIZATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Walker President & | OfficerTrustee | 40 | $0 |
Tom Murtaugh Chair | OfficerTrustee | 0.5 | $0 |
Rachel Hazaray Vice Chair | OfficerTrustee | 0.5 | $0 |
Robert Smith Treasurer | OfficerTrustee | 0.5 | $0 |
Jim Olds Secretary | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,914,614 |
| All other contributions, gifts, grants, and similar amounts not included above | $72,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,986,864 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,986,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,367,936 |
| 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. | $46,487 |
| Compensation of current officers, directors, key employees. | $9,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $192,607 |
| Pension plan accruals and contributions | $7,651 |
| Other employee benefits | $17,422 |
| Payroll taxes | $17,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,133 |
| Fees for services: Accounting | $19,017 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,219,890 |
| Advertising and promotion | $0 |
| Office expenses | $276,134 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,967 |
| 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 | $4,283,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $594,157 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $646,679 |
| Accounts payable and accrued expenses | $646,679 |
| 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 | $646,679 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $646,679 |
Grants Awarded
Over the last fiscal year, Greater Lafayette Commerce Community & Economic Development F has awarded $2,367,936 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAFAYETTE-WEST LAFAYETTE DEVELOPMEN | | | $2,296,936 |
LAFAYETTE-WEST LAFAYETTE DEVELOPMEN | | | $71,000 |