Clear Creek Economic Development Corporation Inc
- Assets
- $2.4m
- Revenue
- $169.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Georgetown, CO
- Founding
- 01/1991
- Data as of
- 12/2023
- EIN
- 84-0972025
Organization Overview
Clear Creek Economic Development Corporation Inc is located in Georgetown, CO. The organization was established in 1991. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clear Creek Economic Development Corporation Inc 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 12/2023, Clear Creek Economic Development Corporation Inc generated $169.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $216.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ECONOMIC DEVELOPMENT SERVICES TO CLEAR CREEK COUNTY AND ITS MUNICIPALITIES. IN ADDITION, THE CCEDC ADMINISTERS A BUSINESS LOAN FUND PROGRAM IN CLEAR CREEK AND GILPIN COUNTIES (REGION 3).
Describe the Organization's Program Activity:
Part 3 - Line 4a
CCEDC ADMINISTERS A BUSINESS LOAN FUND, LAND AND DEVELOPMENT BANK, AND OTHER SPECIAL PROJECTS AND PROGRAMMING THAT PROMOTE ECONOMIC VITALITY IN CLEAR CREEK COUNTY. THE ORGANIZATION HAS AN AGREEMENT WITH CLEAR CREEK COUNTY FOR THE ADMINISTRATION OF THE STATE OF COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE (OEDIT) REGION 3 COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS LOAN FUND PROGRAM. REGION 3 IS MADE UP OF CLEAR CREEK AND GILPIN COUNTIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Valdez CEO | Officer | 40 | $85,000 |
Dan Ebert Chair | OfficerTrustee | 1 | $0 |
Kelly Flenniken Vice Chair | OfficerTrustee | 1 | $0 |
Jim Epstein Treasurer | OfficerTrustee | 1 | $0 |
Brian Bosshardt Director | Trustee | 1 | $0 |
Bruce Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,100 |
| Total Program Service Revenue | $134,073 |
| Investment income | $13,334 |
| 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 | $169,507 |
| 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. | $87,625 |
| Compensation of current officers, directors, key employees. | $8,763 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,755 |
| Fees for services: Accounting | $15,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $672 |
| Office expenses | $2,373 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,018 |
| Travel | $3,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $945 |
| Insurance | $4,355 |
| All other expenses | $178 |
| Total functional expenses | $216,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,996 |
| Savings and temporary cash investments | $426,178 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,630 |
| Loans from Officers, Directors, or Controlling Persons | $11,469 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,481,274 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,075 |
| Net Land, buildings, and equipment | $5,103 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,614 |
| Total assets | $2,382,339 |
| Accounts payable and accrued expenses | $1,802 |
| 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 | $118,506 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,614 |
| Total liabilities | $145,922 |
| Net assets without donor restrictions | $2,236,417 |
| 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 | $2,382,339 |
Grants Awarded
Over the last fiscal year, Clear Creek Economic Development Corporation Inc has awarded $34,804 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CLEAR CREEK COUNTY | | | $15,304 |
URBAN LAND INSTITUTE | | | $6,000 |
GEORGETOWN TRUST FOR CONSERVATION | | | $6,500 |
CITY OF IDAHO SPRINGS | | | $7,000 |