Lincoln County Economic Development Corporation
- Assets
- $87.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 3
- Location
- Newport, OR
- Founding
- 02/1995
- Data as of
- 06/2022
- EIN
- 94-3206648
Organization Overview
Lincoln County Economic Development Corporation, operating under the name 258, is located in Newport, OR. The organization was established in 1995. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, 258 employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 258 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, 258 generated $91.2k 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 (4.3%) each year. All expenses for the organization totaled $152.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE DIVERSIFICATION OF LINCOLN COUNTY'S ECONOMY AND THE DEVELOPMENT OF QUALITY JOBS LOCALLY. UPDATED 20 YEAR PLAN FOR ECONOMIC DEVELOPMENT OF LINCOLN COUNTY.
Describe the Organization's Program Activity:
Part 3
THE ECONOMIC DEVELOPMENT ALLIANCE OF LINCOLN COUNTY DOES STRATEGIC PLANNING BY CONVENING MEETINGS OF COUNTY LEADERS AND CONSULTING WITH INDUSTRY, SERVES AS THE REVIEW COMMITTEE FOR A SMALL GRANT FUND, PROVIDES INFORMATION TO PROSPECTIVE BUSINESS OWNERS, CURRENT OWNERS/ MANAGERS, AND TO THE PUBLIC ON THE BUSINESS CLIMATE. WE PROVIDE INFORMATION FOR QUALIFYING COMPANIES TO TAKE ADVANTAGE OF TAX BENEFITS OFFERED BY THE STATE OF OREGON. WE ARE FOCUSING ON ALL MARINE RELATED INDUSTRY ON OUR COUNTY TO CREATE AN INDUSTRY CLUSTER OF SUPPORTIVE ECONOMIC ACTIVITY FOR SCIENCE, RESEARCH AND RENEWABLE ENERGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Holbrook Board Member | 0 | $0 | |
Linda Roy Board Member | 0 | $0 | |
Bryan Fitzsimmons Board Member | 0 | $0 | |
Curt Abbott Board Member | 0 | $0 | |
Doug Hunt Board Member | 0 | $0 | |
Lesley Ogden Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,192 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $3 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $91,195 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $115,762 |
| Professional fees and other payments to independent contractors | $19,096 |
| Occupancy, rent, utilities, and maintenance | $11,571 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $5,918 |
| Total expenses | $152,347 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $86,444 |
| Other assets | $0 |
| Total assets | $87,543 |
| Total liabilities | $0 |
| Net assets or fund balances | $87,543 |