Henderson County Economic Development Corporation
- Assets
- $246.3k
- Revenue
- $539.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Henderson, KY
- Founding
- 10/2019
- Data as of
- 06/2022
- EIN
- 82-2574175
Organization Overview
Henderson County Economic Development Corporation is located in Henderson, KY. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Henderson County Economic Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henderson County Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Henderson County Economic Development Corporation generated $539.3k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $434.6k during the year ending 06/2022. 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
COMMITTED TO HELPING BUSINESS SUCCEED AND GROW IN NORTHWEST KY INCLUDING EXISTING INDUSTRIES, WORKFORCE DEVELOPMENT AND TARGETED SECTORS TO BRING IN NEW INDUSTRIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAJOR ACCOMPLISHMENT - PRATT INDUSTRIES BROKE GROUND ON A $500 MILLION PAPER MILL AND BOX FACTORY IN HENDERSON KY THAT WILL CREATE 321 WELL-PAYING JOBS ACROSS TWO FACILITIES AND IS THE LARGEST INVESTMENT IN THE REGION IN MORE THAN 25 YEARS
COMMUNITY DEVELOPMENT PROJECT AND INDUSTRY EXPANSION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Vanderpool Executive Director | Officer | 40 | $85,425 |
Whitney Risley Dir Existing Industry Workfor | Officer | 40 | $71,038 |
Stephanie Lucas Bookkeeper Admin Asst | Officer | 40 | $51,302 |
Jason Warren Member | Trustee | 0 | $0 |
Tom Beckert Treasurer | Trustee | 0 | $0 |
Brian Hawkes Vice Chair | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $450,400 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,400 |
| Total Program Service Revenue | $70,812 |
| Investment income | $108 |
| 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 | $539,320 |
| 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. | $189,569 |
| Compensation of current officers, directors, key employees. | $189,569 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,701 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,582 |
| Payroll taxes | $15,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,965 |
| Fees for services: Accounting | $1,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,972 |
| Advertising and promotion | $4,606 |
| Office expenses | $10,229 |
| Information technology | $5,560 |
| Royalties | $0 |
| Occupancy | $22,219 |
| Travel | $7,574 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,767 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,668 |
| Insurance | $2,764 |
| All other expenses | $111,615 |
| Total functional expenses | $434,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $220,161 |
| Pledges and grants receivable | $12,250 |
| 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 | $13,892 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $246,303 |
| Accounts payable and accrued expenses | $6,736 |
| 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 | $6,736 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $134,507 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $105,060 |
| Total liabilities and net assets/fund balances | $246,303 |