Economic Development Authority Of Western Nevada
- Assets
- $1.0m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 22
- Location
- Reno, NV
- Founding
- 07/1983
- Data as of
- 06/2024
- EIN
- 88-0183034
Organization Overview
Economic Development Authority Of Western Nevada is located in Reno, NV. The organization was established in 1983. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Economic Development Authority Of Western Nevada employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Authority Of Western Nevada 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 06/2024, Economic Development Authority Of Western Nevada generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $3.1m during the year ending 06/2024. While expenses have increased by 4.4% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE ECONOMIC DEVELOPMENT AUTHORITY OF WESTERN NEVADA (EDAWN) IS A PRIVATE/PUBLIC PARTNERSHIP ESTABLISHED IN 1983, COMMITTED TO ADDING QUALITY JOBS TO THE REGION BY RECRUITING NEW COMPANIES, SUPPORTING THE SUCCESS OF EXISTING COMPANIES, AND ASSISTING NEWLY FORMING COMPANIES, TO DIVERSIFY THE ECONOMY AND HAVE A POSITIVE IMPACT ON THE QUALITY OF LIFE IN GREATER RENO-SPARKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDAWN WORKS TO EXPAND THE EXISTING INDUSTRY, THE ACQUISITION OF NEW INDUSTRY AND TO OPERATE AND MAINTAIN ONE OR MORE FEDERALLY APPROVED FOREIGN TRADE ZONES FOR THE PURPOSE OF EXPANDING INTERNATIONAL TRADE OPPORTUNITIES FOR BUSINESS IN NEVADA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Taylor Adams President/ceo | OfficerTrustee | 40 | $150,725 |
Charles Harris Trustee | Trustee | 0 | $0 |
Daren Griffin Trustee | Trustee | 0 | $0 |
Kate Franko Trustee | Trustee | 0 | $0 |
Helen Lidholm Trustee | Trustee | 0 | $0 |
Ross Pfautz Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,120,229 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $984,840 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,128,341 |
| Total Program Service Revenue | $0 |
| Investment income | $971 |
| 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 | $3,129,312 |
| 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. | $445,891 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,183,629 |
| Pension plan accruals and contributions | $131,387 |
| Other employee benefits | $157,051 |
| Payroll taxes | $143,792 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,237 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $34,560 |
| Office expenses | $82,033 |
| Information technology | $73,592 |
| Royalties | $0 |
| Occupancy | $81,691 |
| 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 | $0 |
| Insurance | $10,411 |
| All other expenses | $133,571 |
| Total functional expenses | $3,134,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,463 |
| Savings and temporary cash investments | $1,009,598 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,011,061 |
| 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 | $0 |
| Other liabilities | $49,755 |
| Total liabilities | $49,755 |
| Net assets without donor restrictions | $961,306 |
| 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 | $1,011,061 |