Kent Economic Partnership Inc is located in Dover, DE. The organization was established in 2010. 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. As of 12/2022, Kent Economic Partnership Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kent Economic Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Kent Economic Partnership Inc generated $456.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $384.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE KENT ECONOMIC PARTNERSHIP (KEP) IS A NON-PROFIT ORGANIZATION CREATED TO SUPPORT AND EXPAND BUSINESS INTERESTS THROUGHOUT CENTRAL DELAWARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USING BUSINESS ATTRACTION AND RETENTION PROGRAMS THE KEP EFFORTS PROMOTE BETTER EMPLOYMENT OPPORTUNITIES FOR CENTRAL DELAWARE RESIDENTS BY BEING A PREMIER ECONOMIC ENGINE.
SUPPORT AND EXPAND BUSINESS INTERESTS THROUGHOUT CENTRAL DELAWARE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Linda Parkowski Executive Di | 40 | $173,173 | |
Shelly Cecchett Board Member | Trustee | 1 | $0 |
Tabitha Gott Board Member | Trustee | 1 | $0 |
Gerald Esposito Board Member | Trustee | 1 | $0 |
Robert Macleish Board Member | Trustee | 1 | $0 |
Joanne Masten Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $424,250 |
All other contributions, gifts, grants, and similar amounts not included above | $32,500 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $456,750 |
Total Program Service Revenue | $0 |
Investment income | $0 |
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 | $456,750 |
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 | $235,733 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $36,834 |
Payroll taxes | $17,833 |
Fees for services: Management | $0 |
Fees for services: Legal | $19,975 |
Fees for services: Accounting | $7,807 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $6,250 |
Advertising and promotion | $36,018 |
Office expenses | $1,683 |
Information technology | $889 |
Royalties | $0 |
Occupancy | $0 |
Travel | $3,964 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $10,674 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,996 |
Insurance | $0 |
All other expenses | $27 |
Total functional expenses | $384,768 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $532,641 |
Savings and temporary cash investments | $0 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $532,641 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $532,641 |
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 | $532,641 |
Over the last fiscal year, we have identified 1 grants that Kent Economic Partnership Inc has recieved totaling $10,000.
Awarding Organization | Amount |
---|---|
Bayhealth Medical Center Inc Dover, DE PURPOSE: Program Support | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |