Region 9 Economic Development District Of Southwest Colorado Inc
- Assets
- $14.5m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 13
- Location
- Durango, CO
- Founding
- 09/1991
- Data as of
- 09/2023
- EIN
- 84-1125631
Organization Overview
Region 9 Economic Development District Of Southwest Colorado Inc is located in Durango, CO. The organization was established in 1991. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Region 9 Economic Development District Of Southwest Colorado Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Region 9 Economic Development District Of Southwest Colorado 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 09/2023, Region 9 Economic Development District Of Southwest Colorado Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $2.1m during the year ending 09/2023. While expenses have increased by 9.5% per year over the past 7 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 IMPROVE ECONOMIC CONDITIONS IN SOUTHWEST COLORADO THROUGH ADMINISTRATION OF PROGRAMS AND DEVELOPMENT GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT AIDED BY DISBURSING REVOLVING LOAN FUNDS TO AREA BUSINESSES, PROMOTED WITH COLORADO ENTERPRISE ZONE FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Tookey Chairman | OfficerTrustee | 1 | $0 |
Mary Jo Coulehan Vice Chair | OfficerTrustee | 1 | $0 |
Dan Fernandez Secretary | OfficerTrustee | 1 | $0 |
Colleen O'brien Treasurer | OfficerTrustee | 1 | $0 |
Clyde Church Executive Committee | Trustee | 1 | $0 |
Ashleigh Tarkington Executive Committee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,291,391 |
| 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 | $2,291,391 |
| Total Program Service Revenue | $1,155,163 |
| Investment income | $52,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $862 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,547,087 |
| 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. | $134,078 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $768,264 |
| Pension plan accruals and contributions | $17,323 |
| Other employee benefits | $98,680 |
| Payroll taxes | $69,971 |
| 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 | $30,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,722 |
| Insurance | $0 |
| All other expenses | $75,385 |
| Total functional expenses | $2,120,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99 |
| Savings and temporary cash investments | $2,722,219 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $276,214 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,795,936 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,124 |
| Net Land, buildings, and equipment | $560,995 |
| Investments—publicly traded securities | $51,980 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,001 |
| Total assets | $14,456,568 |
| Accounts payable and accrued expenses | $457,751 |
| Grants payable | $0 |
| Deferred revenue | $380,254 |
| 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 | $1,722,143 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,560,148 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,629,346 |
| Paid-in or capital surplus, or land, building, or equipment fund | $306,598 |
| Retained earnings, endowment, accumulated income, or other funds | $4,960,476 |
| Total liabilities and net assets/fund balances | $14,456,568 |