Economic Development Center Ofwashington County Inc
- Assets
- $526.8k
- Revenue
- $650.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Greenville, MS
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 20-8973389
Organization Overview
Economic Development Center Ofwashington County Inc is located in Greenville, MS. The organization was established in 2007. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Economic Development Center Ofwashington County Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Center Ofwashington County Inc 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 12/2021, Economic Development Center Ofwashington County Inc generated $650.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $596.2k during the year ending 12/2021. While expenses have increased by 3.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ASSIST IN ECONOMIC DEVELOPMENT, JOB CREATION AND JOB TRAINING FOR WASHINGTON COUNTY, MS AND SURROUNDING AREAS. TO PROMOTE AND ASSIST EXISTING BUSINESSES IN THE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND ASSIST IN ECONOMIC DEVELOPMENT, JOB CREATION AND JOB TRAINING FOR WASHINGTON COUNTY, MS AND SURROUNDING AREAS. TO PROMOTE AND ASSIST EXISTING BUSINESSES IN THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Hathaway Chairman | Officer | 0 | $0 |
Drew Newsom Treasurer | Officer | 0 | $0 |
Parker England Vice Chairman | Officer | 0 | $0 |
Hillary Boggs Controller | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $153,327 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $388,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $637,331 |
| Total Program Service Revenue | $0 |
| Investment income | $2,193 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,981 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $650,505 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $386,927 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,318 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,118 |
| Office expenses | $25,705 |
| Information technology | $1,215 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $5,454 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,281 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,798 |
| Insurance | $6,865 |
| All other expenses | $0 |
| Total functional expenses | $596,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,854 |
| Savings and temporary cash investments | $73,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $916 |
| 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 | $3,334 |
| Net Land, buildings, and equipment | $16,225 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $526,791 |
| Accounts payable and accrued expenses | $14,149 |
| Grants payable | $0 |
| Deferred revenue | $39,381 |
| 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 | $9,934 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $63,464 |
| Net assets without donor restrictions | $422,034 |
| Net assets with donor restrictions | $41,293 |
| 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 | $526,791 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Economic Development Center Ofwashington County Inc has recieved totaling $53,400.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $28,400 |
Cooperative Energy A Mississippi Electric Cooperative Hattiesburg, MS PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Louisiana Ambulance Alliance Inc Napoleonville, LA | $5,578,332 | $30,543,889 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Nashville Downtown Partnership Inc Nashville, TN | $5,610,530 | $12,726,748 |
National Cotton Council Of America Cordova, TN | $27,244,437 | $12,698,051 |
Radio Music License Committee Brentwood, TN | $1,028,521 | $6,574,625 |
Nashville Area Chamber Of Commerce Nashville, TN | $10,414,739 | $9,196,086 |
United Brotherhood Of Carpenters And Joiners Of America Metairie, LA | $27,400,853 | $8,587,017 |
Memphis Area Chamber Of Commerce Memphis, TN | $3,591,167 | $6,894,505 |
Tennessee Bankers Association Incorporated Nashville, TN | $20,990,156 | $6,097,018 |