Enterprise Development & Management Corporation
- Assets
- $1.6m
- Revenue
- $195.7k
- Investments
- $0.0
- Employees
- 4
- Location
- East Chicago, IN
- Founding
- 08/1995
- Data as of
- 06/2022
- EIN
- 35-1899949
Organization Overview
Enterprise Development & Management Corporation is located in East Chicago, IN. The organization was established in 1995. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Enterprise Development & Management Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise Development & Management Corporation 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 06/2022, Enterprise Development & Management Corporation generated $195.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $212.5k during the year ending 06/2022. While expenses have increased by 0.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE FOR WHICH THIS CORPORATION IS ORGANIZED SHALL BE TO MANAGE PROPERTIES, SOLICIT GRANTS, ENGAGE IN FUNDRAISING, PROVIDE ECONOMIC DEVELOPMENT ACTIVITIES, AND ENGAGE IN OTHER SIMILAR ACTIVITY IN THE CITY OF EAST CHICAGO, AND SUPPORT THE EFFORTS OF THE PARENT ORGANIZATION, EAST CHICAGO URBAN ENTERPRISE ASSOCIATION. THE CORPORATION SHALL FURTHER PROMOTE COMMUNITY OUTREACH IN THE CITY OF EAST CHICAGO, INDIANA. IN FURTHERANCE OF ITS PURPOSE, THE CORPORATION SHALL ALSO ENGAGE IN ALL THOSE ACTIVITIES PERMITTED OF CORPORATIONS GENERALLY BY VIRTUE OF THE PROVISIONS OF THE INDIANA NONPROFIT CORPORATION ACT OF 1991.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONTAINMENT OF OPERATIONAL AND MAINTENANCE COSTS OF THE BUILDING THAT HOUSES A NOT-FOR-PROFIT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Komendat Secretary | OfficerTrustee | 1 | $3,600 |
Manuel Martinez Vice Chairman | OfficerTrustee | 1 | $3,600 |
Terrence Velligan Chairman | OfficerTrustee | 1 | $3,600 |
May Catherine Thomas Treasurer | OfficerTrustee | 1 | $3,600 |
Kimberly Edwards Board Member | Trustee | 1 | $3,600 |
Earl Harris Jr Board Member | Trustee | 1 | $3,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,000 |
| Total Program Service Revenue | $188,197 |
| Investment income | $694 |
| 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 | $195,658 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $35,400 |
| Compensation of current officers, directors, key employees. | $3,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,007 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,932 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,352 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,946 |
| Insurance | $11,986 |
| All other expenses | $459 |
| Total functional expenses | $212,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,649 |
| Savings and temporary cash investments | $669,136 |
| 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 | $6,367 |
| Net Land, buildings, and equipment | $951,620 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,644,772 |
| 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 | $0 |
| 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 | -$16,837 |
| Total liabilities and net assets/fund balances | $1,644,772 |
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