Evansville Land Bank Corp
- Assets
- $895.7k
- Revenue
- $316.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Evansville, IN
- Founding
- 12/2018
- Data as of
- 12/2022
- EIN
- 81-4633791
Organization Overview
Evansville Land Bank Corp is located in Evansville, IN. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evansville Land Bank Corp 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, Evansville Land Bank Corp generated $316.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.2%) each year. All expenses for the organization totaled $185.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.5%) per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEMOLISH OR REHABILITATE DILAPIDATED STRUCTURES ACQUIRED THROUGH TAX FORECLOSURE OR OTHER METHODS, AND RETURN THEM TO PRODUCTIVE USE
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEMOLISH OR REHABILITATE DILAPIDATED STRUCTURES ACQUIRED THROUGH TAX FORECLOSURE OR OTHER METHODS, AND RETURN THEM TO PRODUCTIVE USE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Armstrong Second Vice President | Trustee | 1 | $0 |
Ted Ubelhor Presdient | Trustee | 1 | $0 |
Jonathan Weaver First Vice President | Trustee | 1 | $0 |
Jim Keck Board Member | Trustee | 1 | $0 |
Dottie Thomas Board Member | Trustee | 1 | $0 |
Carolyn Rusk Secretary/treasurer | Trustee | 35 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
William Willman Mowing | 12/30/20 | $112,392 |
Velpen Trucking And Disposal Demolition Services | 12/30/20 | $111,000 |
Velpen Trucking And Disposal Demolition Services | 12/30/20 | $111,000 |
William Willman Mowing | 12/30/20 | $112,392 |
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 | $250,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
| Total Program Service Revenue | $0 |
| Investment income | $55 |
| 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 | $7,826 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,989 |
| 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. | $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 | $5,486 |
| Fees for services: Accounting | $9,570 |
| 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 | $99 |
| Information technology | $3,600 |
| Royalties | $0 |
| Occupancy | $16,468 |
| 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 | $9,789 |
| All other expenses | $1,769 |
| Total functional expenses | $185,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,823 |
| Savings and temporary cash investments | $450,050 |
| 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 | $213,861 |
| 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 | $895,734 |
| 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 | $895,734 |
| Total liabilities and net assets/fund balances | $895,734 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Economic Development Corp Milwaukee, WI | $129,937,785 | $4,507,113 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
World Business Chicago Chicago, IL | $9,302,792 | $9,942,081 |
Enlace Chicago Chicago, IL | $7,912,354 | $9,016,287 |
West Central Indiana Economic Development District Inc Terre Haute, IN | $2,629,970 | $4,624,225 |
Common Wealth Development Inc Madison, WI | $16,900,042 | $3,774,568 |
Evansville Vanderburgh County Convention & Visitors Bureau Inc Evansville, IN | $5,490,585 | $3,551,749 |
Milwaukee Urban Strategic Investment Corp Milwaukee, WI | $23,035,863 | $4,044,506 |
Far South Cdc Chicago, IL | $4,303,074 | $2,694,787 |
Northwest Side Community Development Corporation Milwaukee, WI | $11,140,702 | $4,254,876 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |
Capitalplus Exchange Corporation Skokie, IL | $2,405,541 | $1,079,242 |