Albany-Millersburg Economic Development Corporation is located in Albany, OR. The organization was established in 1982. 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. Albany-Millersburg Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Albany-Millersburg Economic Development Corporation generated $14.9m in total revenue. All expenses for the organization totaled $113.6k during the year ending 06/2021. While expenses have increased by 0.0% 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
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FOSTER A HEALTHY AND VIABLE ECONOMY IN THE ALBANY-MILLERSBURG AREA.
TO DEVELOP PROPERTY AND SECURE FUNDING FROM OREGON DEPARTMENT OF TRANSPORTATION FOR DEVELOPMENT OF A MID-VALLEY INTERMODAL FACILITY ON THE PROPERTY BY THE LINN ECONOMIC DEVELOPMENT GROUP.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John Pascone President | OfficerTrustee | 40 | $94,000 |
Jon Kloor Vice Chair | OfficerTrustee | 1 | $0 |
Mark Raum Secretary/treasurer | OfficerTrustee | 2 | $0 |
James Ramseyer Chair | OfficerTrustee | 2 | $0 |
Janet Steele Director | Trustee | 1 | $0 |
Floyd Collins Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $14,926,117 |
All other contributions, gifts, grants, and similar amounts not included above | $8,500 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $14,934,617 |
Total Program Service Revenue | $0 |
Investment income | $43 |
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 | $14,935,813 |
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. | $94,000 |
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 | $155 |
Payroll taxes | $6,960 |
Fees for services: Management | $0 |
Fees for services: Legal | $50 |
Fees for services: Accounting | $1,460 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $20 |
Office expenses | $464 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $4,190 |
Travel | $117 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $366 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $2,092 |
All other expenses | $85 |
Total functional expenses | $113,648 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,561 |
Savings and temporary cash investments | $14,097 |
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 | $9,166,230 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $6,358,474 |
Total assets | $15,541,362 |
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 | $2,547 |
Total liabilities | $2,547 |
Net assets without donor restrictions | $15,538,815 |
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 | $15,541,362 |
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 |