Montgomery Economic Development Corporation
- Assets
- $84.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, IL
- Founding
- 02/2006
- Data as of
- 12/2022
- EIN
- 20-0734800
Organization Overview
Montgomery Economic Development Corporation is located in Montgomery, IL. The organization was established in 2006. 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. Montgomery Economic Development Corporation 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 12/2022, Montgomery Economic Development Corporation generated $169.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $158.3k during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 8 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Hanson Medc Vice Pr | 4 | $0 | |
Charlene Coulombe Executive Di | 0 | $0 | |
Doug Marecek Chairman | 0 | $0 | |
Jonathan P Shedden Treasurer | 4 | $0 | |
George Hopman Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,200 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $46 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $36,980 |
| Total Revenue | $169,226 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $108,629 |
| Professional fees and other payments to independent contractors | $5,004 |
| Occupancy, rent, utilities, and maintenance | $21,950 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $22,729 |
| Total expenses | $158,312 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $82,509 |
| Other assets | $0 |
| Total assets | $84,345 |
| Total liabilities | $25,142 |
| Net assets or fund balances | $59,203 |