Lawrence County Economic Growth Council Inc
- Assets
- $563.2k
- Revenue
- $352.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Bedford, IN
- Founding
- 09/1997
- Data as of
- 12/2021
- EIN
- 35-2020138
Organization Overview
Lawrence County Economic Growth Council Inc is located in Bedford, IN. The organization was established in 1997. 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, Lawrence County Economic Growth Council Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lawrence County Economic Growth Council 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 12/2021, Lawrence County Economic Growth Council Inc generated $352.9k 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 (6.7%) each year. All expenses for the organization totaled $360.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.8%) 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 COLLABORATIVELY PLAN FOR AND GUIDE THE ECONOMIC DEVELOPMENT OF LAWRENCE COUNTY, INDIANA. TO FACILIATE THE EXPANSION AND RETENTION OF EXISTING BUSINESS; TO AGGRESSIVELY RECRUIT NEW BUSINESS; AND TO SUPPORT THE DEVELOPMENT OF A QUALITY OF LIFE THAT MAKES LAWRENCE COUNTY A SUPERIOR PLACE TO LIVE, WORK AND RUN A BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES TO PROMOTE THE BUSINESS AND INDUSTRIAL ACTIVITIES OF LAWRENCE COUNTY, INDIANA.
EDUCATE THE GENERAL PUBLIC BY PROVIDING TRAINING, EDUCATIONAL SEMINARS AND INFORMATION CONCERNING ECONOMIC DEVELOPMENT AND OPPORTUNITIES AND A FOREIGN TRADE MISSION.
LOANS AND GRANTS TO BUSINESSES TO ASSIST IN LOCAL ECONOMIC DEVELOPMENT.
THE CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES TO PROMOTE THE BUSINESS AND INDUSTRY ACTIVITIES OF LAWRENCE COUNTY, INDIANA. EDUCATIONAL EXPO
THE CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES TO PROMOTE THE BUSINESS AND INDUSTRIAL ACTIVITIES OF LAWRENCE COUNTY, INDIANA.
EDUCATE THE GENERAL PUBLIC BY PROVIDING TRAINING, EDUCATIONAL SEMINARS AND INFORMATION CONCERNING ECONOMIC DEVELOPMENT AND OPPORTUNITIES AND A FOREIGN TRADE MISSION.
LOANS AND GRANTS TO BUSINESSES TO ASSIST IN LOCAL ECONOMIC DEVELOPMENT.
THE CORPORATION PROVIDES ECONOMIC DEVELOPMENT SERVICES TO PROMOTE THE BUSINESS AND INDUSTRY ACTIVITIES OF LAWRENCE COUNTY, INDIANA. EDUCATIONAL EXPO
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shance Sizemore CEO | Officer | 40 | $90,100 |
Mike Kern Treasurer | OfficerTrustee | 1 | $0 |
Everrett Southern Vice Preside | OfficerTrustee | 1 | $0 |
Nan Morrow Secretary | OfficerTrustee | 1 | $0 |
Jason Terrell President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,743 |
| All other contributions, gifts, grants, and similar amounts not included above | $179,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $275,809 |
| Total Program Service Revenue | $75,492 |
| Investment income | $1,602 |
| 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 | $352,903 |
| 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 | $186,791 |
| Pension plan accruals and contributions | $2,980 |
| Other employee benefits | $3,486 |
| Payroll taxes | $20,348 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,403 |
| Office expenses | $1,715 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,951 |
| Travel | $2,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,289 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $17,040 |
| Total functional expenses | $360,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $301,286 |
| Savings and temporary cash investments | $144,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $38,431 |
| 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 | $76,529 |
| Total assets | $563,227 |
| 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 | $7,566 |
| Total liabilities | $7,566 |
| Net assets without donor restrictions | $380,229 |
| Net assets with donor restrictions | $175,432 |
| 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 | $563,227 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Lawrence County Economic Growth Council Inc has recieved totaling $68,250.
| Awarding Organization | Amount |
|---|---|
Community Foundation Partnership Inc Bedford, IN PURPOSE: CHARITABLE | $20,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $20,000 |
Centerpoint Energy Foundation Inc Houston, TX PURPOSE: EDUCATION AND WORKFORCE TRAINING IN A TRAUMA INFORMED CARE COMMUNITY | $15,000 |
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $10,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $3,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |