Strategic Economic Development Corp Of Th Mid-Willamette Valley
- Assets
- $899.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Salem, OR
- Founding
- 04/1998
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Strategic Economic Development Corp Of Th Mid-Willamette Valley generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 7.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEDCOR (STRATEGIC ECONOMIC DEVELOPMENT CORPORATION) IS A NONPROFIT ORGANIZATION WORKING WITH PRIVATE AND PUBLIC PARTNERS TO ENHANCE AND DIVERSIFY THE MID-WILLAMETTE VALLEY ECONOMY. SINCE 1982, SEDCOR HAS BUILT AND STRENGTHENED POSITIVE AND PRODUCTIVE PARTNERSHIPS WITH INDUSTRY LEADERS, NONPROFITS, BUSINESS ADVOCACY GROUPS, COMMUNITY ORGANIZATIONS, EDUCATIONAL INSTITUTIONS, STATE AND FEDERAL AGENCIES, LOCAL GOVERNMENTS, AND MORE. SEDCOR'S DRIVE TO GROW AND SHOWCASE ECONOMIC DEVELOPMENT IN MARION, POLK AND YAMHILL COUNTIES IS WITH A SINGULAR FOCUS: BRING TRADED SECTOR JOBS AND WEALTH TO THE LOCAL ECONOMY. SEDCOR'S MISSION IS 'OPPORTUNITY AND IT IS BUILT ON THE FOUNDING VALUES TO: LISTEN FIRST; THINK OUTSIDE THE BOX; ACT WITH AGILITY; AND BUILD TO LAST. THIS IS DONE BY THOUGHTFULLY CULTIVATING RELATIONSHIPS AND COLLABORATING WITH PARTNERS ACROSS SECTORS TO RETAIN AND ATTRACT HIGH VALUE JOBS AND CAPITAL INVESTMENT, WHILE PROVIDING MEMBER SERVICES THAT SUPPORT BUSINESS SUCCESS IN
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 |
|---|---|---|---|
J Michael Keane Chair | OfficerTrustee | 1 | $0 |
Kate Schwarzler Vice Chair | OfficerTrustee | 1 | $0 |
Ryan Albritton Treasurer | OfficerTrustee | 1 | $0 |
Michael Fowler Immediate Past Chair | Trustee | 1 | $0 |
Daryl Knox Executive Council - Director | Trustee | 1 | $0 |
Timothy Murphy Executive Council - Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $178,551 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $374,911 |
| 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 | $553,462 |
| Total Program Service Revenue | $642,954 |
| Investment income | $392 |
| 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 | $1,197,091 |
| 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. | $148,585 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $388,161 |
| Pension plan accruals and contributions | $11,694 |
| Other employee benefits | $30,369 |
| Payroll taxes | $44,613 |
| Fees for services: Management | $205,843 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,530 |
| Office expenses | $2,275 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,567 |
| Insurance | $3,872 |
| All other expenses | $31,653 |
| Total functional expenses | $1,072,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $431,532 |
| Savings and temporary cash investments | $466,721 |
| 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 | $1,452 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $899,705 |
| 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 | $899,705 |
| 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 | $899,705 |