Orono Economic Development Corporation
- Assets
- $365.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Orono, ME
- Founding
- 09/2001
- EIN
- 01-0535770
Organization Overview
Orono Economic Development Corporation is located in Orono, ME. The organization was established in 2001. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Orono 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 undefined, Orono Economic Development Corporation generated $22.4k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 36.6% each year . All expenses for the organization totaled $26.7k during the year ending undefined. 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
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION HAS BEEN WORKING WITH LOCAL VENDORS, POTENTIAL CUSTOMERS, THE MAINE FARMLAND TRUST AND UNIVERSITY OF MAINE STUDENTS TO INVESTIGATE THE FEASIBILITY OF A "FOOD HUB" IN THE ORONO REGION. ALSO THE ORGANIZATION HAS BEEN SPONSOR AND ORGANIZER OF THE "BIG GIG" EVENTS. THESE EVENTS PROVIDE A FORUM FOR LOCAL INNOVATORS AND ENTREPRENEURS TO PRESENT POSSIBLE NEW BUSINESS VENTURES WHICH WOULD BE LOCATED IN THE GREATER ORONO REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stevenson Sheppard President | 1 | $0 | |
Mark Erhardt Vice Preside | 1 | $0 | |
Robert Bass Treasurer | 1 | $0 | |
Ryan Low Director | 1 | $0 | |
Mike Jones Director | 1 | $0 | |
Paul Melrose Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $500 |
| Total Program Service Revenue | $11,010 |
| Membership dues | $0 |
| Investment income | $10,851 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $22,361 |
| Statement of Expenses | |
|---|---|
| Total expenses | $26,747 |
| Balance Sheet | |
|---|---|
| Total assets | $364,991 |
| Total liabilities | $0 |
| Net assets or fund balances | $364,991 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Better Business Bureau Of New Hampshire Inc Concord, NH | $2,701,670 | $926,407 |
Strafford Economic Development Corporation Dover, NH | $13,973,125 | $2,860,903 |
Rainscreen Association In North America Sanford, ME | $306,686 | $221,350 |
Telephone Association Of New England New Gloucester, ME | $308,447 | $0 |
Maine Asphalt Pavement Association Augusta, ME | $257,011 | $194,209 |
Lakes Region Builders & Remodelers Association New Hampton, NH | $113,235 | $0 |
Wolfeboro Cross Country Ski Association Wolfeboro, NH | $315,168 | $0 |
Central Maine Apartment Owners Association Inc Waterville, ME | $85,280 | $0 |
National End-Of-Life Doula Alliance Holderness, NH | $86,324 | $0 |
Orono Economic Development Corporation Orono, ME | $364,991 | $0 |
Hirshberg Entrepreneurship Institute Concord, NH | $4,076 | $0 |
Business Aviation Professional Of New England Nashua, NH | $36,398 | $0 |