Laramie Economic Development Corporation
- Assets
- $3.9m
- Revenue
- $15.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Laramie, WY
- Founding
- 02/1987
- Data as of
- 12/2021
- EIN
- 83-0276231
Organization Overview
Laramie Economic Development Corporation is located in Laramie, WY. The organization was established in 1987. 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 12/2021, Laramie Economic Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laramie Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Laramie Economic Development Corporation generated $15.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (24.0%) each year. All expenses for the organization totaled $27.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH A COMPREHENSIVE ECONOMIC DEVELOPMENT PROGRAM FOR THE LARAMIE AREA, WHICH WILL FOSTER BALANCED GROWTH AND ENHANCE WELFARE OF THE CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTES, STIMULATES, DEVELOPES AND ADVANCES THE ECONOMIC WELFARE OF THE CITY OF LARAMIE AND COUNTY OF ALBANY AND ITS CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Faus Director | OfficerTrustee | 1 | $0 |
Kurt Tuggle Treasurer | OfficerTrustee | 1 | $0 |
Rebecca Miller Chair | OfficerTrustee | 1 | $0 |
Effie Bader Secretary | OfficerTrustee | 1 | $0 |
Rolf Peterson Vice Chair | OfficerTrustee | 1 | $0 |
Micheal B Enzi II Presidentceo | Officer | 40 | $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 | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,000 |
| Total Program Service Revenue | $0 |
| Investment income | $936 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,764 |
| 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 | $15,172 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $71 |
| Insurance | $27,367 |
| All other expenses | $0 |
| Total functional expenses | $27,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,148 |
| Savings and temporary cash investments | $283,645 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,553,956 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,923,749 |
| 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 | $66,028 |
| Other liabilities | $434,059 |
| Total liabilities | $500,087 |
| Net assets without donor restrictions | $3,412,570 |
| Net assets with donor restrictions | $11,092 |
| 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 | $3,923,749 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Glacier Country Regional Tourism Commission Inc Missoula, MT | $1,843,193 | $3,815,172 |
Karis Inc Grand Junction, CO | $4,115,604 | $3,050,096 |
Aurora Economic Development Council Inc Aurora, CO | $1,245,291 | $2,876,706 |
Four Bands Community Fund Inc Eagle Butte, SD | $19,022,561 | $5,647,220 |
Lake County Community Development Corporation Ronan, MT | $8,061,823 | $2,376,944 |
Big Sky Economic Development Corporation Billings, MT | $3,059,757 | $1,982,472 |
Western Colorado Business Development Corp Grand Junction, CO | $7,096,798 | $2,689,196 |
Bear Paw Development Corp Of North Montana Hill County Courthouse Havre, MT | $10,546,975 | $3,629,842 |
Capital Matrix Inc Boise, ID | $3,302,883 | $1,706,997 |