Castle Rock Economic Development Council Inc
- Assets
- $483.0k
- Revenue
- $539.8k
- Investments
- $0.0
- Employees
- 7
- Location
- Castle Rock, CO
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 84-1445735
Organization Overview
Castle Rock Economic Development Council Inc is located in Castle Rock, CO. The organization was established in 2000. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Castle Rock Economic Development Council Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Castle Rock Economic Development Council 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 12/2021, Castle Rock Economic Development Council Inc generated $539.8k 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 (3.6%) each year. All expenses for the organization totaled $560.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT AND INFORMATION FOR THE CASTLE ROCK BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC & BUSINESS DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Gray President & | Officer | 55 | $195,000 |
See Attached List Directors | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $293,100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $235,086 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $8,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $528,186 |
| Total Program Service Revenue | $10,962 |
| Investment income | $658 |
| 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 | $539,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,180 |
| 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. | $230,447 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,173 |
| Pension plan accruals and contributions | $7,325 |
| Other employee benefits | $0 |
| Payroll taxes | $33,559 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,582 |
| 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 | $3,641 |
| Information technology | $5,860 |
| Royalties | $0 |
| Occupancy | $37,469 |
| Travel | $1,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,394 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,342 |
| Insurance | $2,842 |
| All other expenses | $1,219 |
| Total functional expenses | $560,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,880 |
| Savings and temporary cash investments | $391,252 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,750 |
| 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 | $5,596 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,463 |
| Other assets | $17,030 |
| Total assets | $482,971 |
| Accounts payable and accrued expenses | $14,781 |
| 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 | $163,035 |
| Other liabilities | $119,492 |
| Total liabilities | $297,308 |
| Net assets without donor restrictions | $0 |
| 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 | $185,663 |
| Total liabilities and net assets/fund balances | $482,971 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Castle Rock Economic Development Council Inc has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Portercare Adventist Health System Centennial, CO PURPOSE: General Support | $7,500 |
Portercare Adventist Health System Centennial, CO PURPOSE: General Support | $7,500 |
Portercare Adventist Health System Centennial, CO PURPOSE: General Support | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Planning Standards Board Ltd Denver, CO | $4,793,779 | $4,746,660 |
Grant Proffessionals Association Overland Park, KS | $781,286 | $1,243,491 |
Hall County Convention And Visitors Bureau Inc Grand Island, NE | $489,732 | $1,236,894 |
Corporation Of The Sun Country Section Rio Rancho, NM | $709,582 | $854,745 |
Castle Rock Economic Development Council Inc Castle Rock, CO | $482,971 | $539,806 |
International Boarding & Pet Services Association Las Cruces, NM | $68,067 | $499,700 |
Kansas Beta House Association Incorported Manhattan, KS | $2,880,199 | $675,102 |
Colorado Press Association Denver, CO | $1,290,729 | $417,250 |
National Women In Roofing Inc Aurora, CO | $535,673 | $460,011 |
Oklahoma Pharmacists Association Ada, OK | $510,377 | $322,159 |
Outdoor Behavioral Health Industry Council Huntington, UT | $52,500 | $322,473 |
Colorado Pharmacists Society Inc Aurora, CO | $592,075 | $368,965 |