Economic Developement Corporation Of Paragould
- Assets
- $5.3m
- Revenue
- $733.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Paragould, AR
- Founding
- 08/2006
- Data as of
- 12/2021
- EIN
- 87-0696221
Organization Overview
Economic Developement Corporation Of Paragould is located in Paragould, AR. The organization was established in 2006. 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. Economic Developement Corporation Of Paragould 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, Economic Developement Corporation Of Paragould generated $733.2k 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 (4.0%) each year. All expenses for the organization totaled $162.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (22.6%) 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
BUSINESS DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RECRUITMENT AND SUPPORT FOR PARAGOULD AND GREENE COUNTY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brock Atwill Chairman | OfficerTrustee | 1 | $0 |
Allison Hestand Executive Director | OfficerTrustee | 0 | $0 |
Josh Agee Secretarytreasurer | OfficerTrustee | 0 | $0 |
Darrell Phillips Chair Elect | OfficerTrustee | 0 | $0 |
Lora Laubach Board Member | Trustee | 1 | $0 |
Will Brewer Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $610,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,481 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $729,481 |
| Total Program Service Revenue | $0 |
| Investment income | $3,725 |
| 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 | $733,206 |
| 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 | $52,785 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,232 |
| Travel | $4,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,889 |
| Interest | $9,285 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,364 |
| All other expenses | $8,218 |
| Total functional expenses | $162,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,064,632 |
| Savings and temporary cash investments | $183,459 |
| 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 | $337,500 |
| Inventories for sale or use | $3,749,242 |
| 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 | $1,099 |
| Total assets | $5,335,932 |
| 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 | $257,918 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $257,918 |
| Net assets without donor restrictions | $5,078,014 |
| 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 | $5,335,932 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |