Regional Growth Partnership Inc
- Assets
- $2.2m
- Revenue
- $3.3m
- Investments
- $387.3k
- Employees
- 16
- Location
- Toledo, OH
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 34-1823833
Organization Overview
Regional Growth Partnership Inc is located in Toledo, OH. The organization was established in 1996. 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 12/2021, Regional Growth Partnership Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Growth Partnership 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, Regional Growth Partnership Inc generated $3.3m 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 (4.6%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 7 years. 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 CREATE EMPLOYMENT AND THE CAPITAL INVESTMENT NEEDED TO SUSTAIN ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KEY TO THE EXEMPT PURPOSE OF THE ORGANIZATION IS THE CREATION OF NEW EMPLOYMENT OPPORTUNITIES AND TO MAKE A SIGNIFICANT CONTRIBUTION TO ECONOMIC DEVELOPMENT IN NORTHWEST OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Monske President/ceo | Officer | 40 | $213,500 |
Gary Thompson COO | 40 | $140,500 | |
Andy Lorenz Employee | 40 | $129,000 | |
John Gibney Employee | 40 | $127,500 | |
Donald Paul Zito Vice President | 40 | $126,100 | |
Dave Waterman Board Of Directors | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $281,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $281,667 |
| Total Program Service Revenue | $3,067,223 |
| Investment income | $380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,199 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,316,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| 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. | $227,752 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,441,457 |
| Pension plan accruals and contributions | $46,317 |
| Other employee benefits | $66,152 |
| Payroll taxes | $115,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,826 |
| Fees for services: Accounting | $17,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,423 |
| Advertising and promotion | $423,328 |
| Office expenses | $49,818 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,490 |
| Travel | $4,345 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,509 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,675 |
| Insurance | $15,651 |
| All other expenses | $25,724 |
| Total functional expenses | $3,269,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,294,264 |
| Pledges and grants receivable | $305,548 |
| Accounts receivable, net | $155,876 |
| 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 | $43,627 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $387,294 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,186,609 |
| Accounts payable and accrued expenses | $214,007 |
| Grants payable | $0 |
| Deferred revenue | $66,667 |
| 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 | $280,674 |
| Net assets without donor restrictions | $1,651,639 |
| Net assets with donor restrictions | $254,296 |
| 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 | $2,186,609 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Regional Growth Partnership Inc has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Promedica Health System Inc Toledo, OH PURPOSE: CHARITABLE DONATION | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |