Strategic Economic Development Corp Of Th Mid-Willamette Valley
- Assets
- $775.4k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Salem, OR
- Founding
- 04/1998
- Data as of
- 06/2021
- EIN
- 93-0810393
Organization Overview
Strategic Economic Development Corp Of Th Mid-Willamette Valley is located in Salem, OR. The organization was established in 1998. 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. As of 06/2021, Strategic Economic Development Corp Of Th Mid-Willamette Valley employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Strategic Economic Development Corp Of Th Mid-Willamette Valley 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 06/2021, Strategic Economic Development Corp Of Th Mid-Willamette Valley generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $962.9k during the year ending 06/2021. While expenses have increased by 6.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE & DIVERSIFY THE REGION'S ECONOMY BY BRINGING EMPLOYERS TO THE REGION. THIS IS ACCOMPLISHED BY LEVERAGING THE STRENGTH OF OUR PUBLIC/PRIVATE PARTNERSHIPS, AGGRESSIVELY RETAINING AND ATTRACTING HIGH VALUE JOBS AND CAPITAL INVESTMENTS WHILE PROVIDING MEMBER SERVICES THAT SUPPORT BUSINESS SUCCESS IN MARION AND POLK COUNTIES OF OREGON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY OBJECTIVE OF THE ORGANIZATION IS TO ENHANCE AND DIVERSIFY THE MID-WILLAMETTE VALLEY ECONOMY BY PROVIDING RECRUITMENT, RETENTION, AND OTHER SERVICES TO CITIES IN THE REGION. DURING THE YEAR SEVERAL LARGE AND SMALL EVENTS WERE ORGANIZED AND ATTENDED BY MORE THAN 1,500 PEOPLE. THESE EVENTS PROVIDED OPPORTUNITIES TO MEET AND NETWORK WITH SEDCOR MEMBERS AND BUSINESS COMMUNITY LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik Andersson President | 40 | $143,333 | |
Mark Hoyt Past Chairman | OfficerTrustee | 1 | $0 |
Daryl Knox Chairman | OfficerTrustee | 1 | $0 |
Rich Duncan Director | Trustee | 1 | $0 |
Nathan Levin Director | Trustee | 1 | $0 |
Steve Powers Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $367,074 |
| All other contributions, gifts, grants, and similar amounts not included above | $288,199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $655,273 |
| Total Program Service Revenue | $382,705 |
| Investment income | $8,222 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,798 |
| Net Gain/Loss on Asset Sales | -$14,083 |
| Net Income from Fundraising Events | $6,705 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,145,012 |
| 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. | $143,333 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $365,998 |
| Pension plan accruals and contributions | $14,801 |
| Other employee benefits | $22,775 |
| Payroll taxes | $45,053 |
| 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 | $18,348 |
| Office expenses | $1,543 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,225 |
| 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 | $1,960 |
| Insurance | $5,352 |
| All other expenses | $39,278 |
| Total functional expenses | $962,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $306,064 |
| Savings and temporary cash investments | $0 |
| 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 | $3,020 |
| Investments—publicly traded securities | $330,621 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,708 |
| Total assets | $775,413 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $775,413 |
| 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 | $775,413 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |