Mcminnville Economic Development Partnership
- Assets
- $257.1k
- Revenue
- $660.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Mcminnville, OR
- Founding
- 12/2018
- Data as of
- 09/2023
- EIN
- 82-3460861
Organization Overview
Mcminnville Economic Development Partnership is located in Mcminnville, OR. The organization was established in 2018. 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 09/2023, Mcminnville Economic Development Partnership employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcminnville Economic Development Partnership 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 09/2023, Mcminnville Economic Development Partnership generated $660.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $704.5k during the year ending 09/2023. While expenses have increased by 17.6% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE STRATEGIES THAT RESPOND TO THE NEEDS OF MCMINNVILLE'S TRADED-SECTOR BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING AND MAINTAINING RELATIONSHIPS WITH REGIONAL AND STATEWIDE ECONOMIC DEVELOPMENT ORGANIZATIONS AND RESOURCE PARTNERS. VITAL INFORMATION IS GATHERED ABOUT WHAT IS GOING ON IN OTHER PARTS OF THE STATE, AND WHAT RESOURCES - REGIONAL AND STATEWIDE - ARE AVAILABLE FOR MCMINNVILLE AREA BUSINESSES TO ACCESS. HAVING THIS INFORMATION DIRECTLY HELPS AREA BUSINESSES IN THEIR PLANNING FOR RETENTION AND EXPANSION ACTIVITIES.
RESEARCH AND DATA COLLECTION IN THE LOCAL AREA IN ORDER TO HAVE DETAILED KNOWLEDGE OF WHAT IS GOING ON IN THE BUSINESS COMMUNITY. KNOWING WHAT IS GOING ON WITH AREA BUSINESSES HELPS MEDP BETTER TARGET AVAILABLE RESOURCES IN AS TIMELY A WAY AS POSSIBLE TO ASSIST IN RETENTION AND EXPANSION OF BUSINESSES.
ONE-STOP INFORMATION, REFERRAL AND ASSISTANCE CENTER FOR NEW AND EXISTING BUSINESSES. THIS ACTIVITY INCLUDES FIELDING PHONE CALLS REGARDING A VARIETY OF INFORMATION REQUESTS FROM AREA BUSINESSES, PROSPECTIVE BUSINESSES, OTHER ECONOMIC DEVELOPMENT ORGANIZATIONS AND THE CITY OF MCMINNVILLE. INFORMATION IS SENT TO REQUESTORS AS APPROPRIATE AND APPOINTMENTS WITH BUSINESS EXECUTIVES ARE CONDUCTED VIA TELEPHONE AND IN PERSON WITH OCCASIONAL TRAVEL OUTSIDE THE AREA TO MEET PROSPECTIVE LEADERS INTERESTED IN MOVING TO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patty Herzog Executive Dir. | Officer | 40 | $106,531 |
John Dietz President | OfficerTrustee | 1 | $0 |
Heather Richards Secretary | OfficerTrustee | 1 | $0 |
Teresa Smith Treasurer | OfficerTrustee | 1 | $0 |
Deven Paolo Director | OfficerTrustee | 1 | $0 |
Mike Morris Director | Officer | 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 | $657,641 |
| Investment income | $1,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,600 |
| 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 | $660,634 |
| 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. | $106,531 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,833 |
| Payroll taxes | $22,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,366 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,008 |
| Office expenses | $5,030 |
| Information technology | $2,711 |
| Royalties | $0 |
| Occupancy | $12,600 |
| Travel | $2,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,962 |
| All other expenses | $414 |
| Total functional expenses | $704,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,632 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,449 |
| 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 | $257,081 |
| Accounts payable and accrued expenses | $8,256 |
| 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 | $5,436 |
| Total liabilities | $13,692 |
| Net assets without donor restrictions | $243,389 |
| 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 | $257,081 |