Community And Economic Development Associates
- Assets
- $1.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 50
- Location
- Chatfield, MN
- Founding
- 01/1987
- Data as of
- 12/2021
- EIN
- 41-1560462
Organization Overview
Community And Economic Development Associates is located in Chatfield, MN. The organization was established in 1987. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Community And Economic Development Associates employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community And Economic Development Associates 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, Community And Economic Development Associates generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 12.6% 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 HELP PEOPLE AND COMMUNITIES IN RURAL AREAS CONTROL THEIR OWN ECONOMIC DESTINIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES REHABILITATION GRANT ASSISTANCE AND BUSINESS AND ECONOMIC DEVELOPMENT ASSISTANCE TO 40 COMMUNITIES AND 7 COUNTIES. IT ASSISTED IN APPLICATIONS FOR GRANTS AND LOANS FOR LOCAL BUSINESSES AND GOVERNMENT INFRASTRUCTURE, AND COORDINATED VARIOUS COOPERATIVE EFFORTS BETWEEN COMMUNITIES AND BUSINESSES WITHIN MINNESOTA, IOWA, AND WISCONSIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Zeigler Exectuive Director | Officer | 40 | $133,155 |
Larry Anderson Former Vice-Chair | OfficerTrustee | 1 | $0 |
Gary Gooder Former Secretary | OfficerTrustee | 1 | $0 |
Ryan Mccarville Secretary | OfficerTrustee | 1 | $0 |
Michael P Tuohy Chair | OfficerTrustee | 1 | $0 |
Jimmie-John King Director | Trustee | 1 | $0 |
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 | $114,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $114,475 |
| Total Program Service Revenue | $2,231,893 |
| Investment income | $9,475 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,256 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,830,781 |
| 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. | $152,476 |
| Compensation of current officers, directors, key employees. | $15,247 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,789,062 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $310,734 |
| Payroll taxes | $0 |
| Fees for services: Management | $22,626 |
| Fees for services: Legal | $382 |
| Fees for services: Accounting | $21,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,510 |
| Information technology | $18,955 |
| Royalties | $0 |
| Occupancy | $28,662 |
| Travel | $33,255 |
| 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 | $4,690 |
| Insurance | $24,148 |
| All other expenses | $6,090 |
| Total functional expenses | $2,493,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,279,049 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,345 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $86,843 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,081 |
| Net Land, buildings, and equipment | $38,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $166,734 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,658,001 |
| Accounts payable and accrued expenses | $53,350 |
| 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 | $50,420 |
| Other liabilities | $23,765 |
| Total liabilities | $127,535 |
| Net assets without donor restrictions | $1,363,732 |
| Net assets with donor restrictions | $166,734 |
| 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 | $1,658,001 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Community And Economic Development Associates has recieved totaling $245,000.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: GENERAL OPERATIONS | $145,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE PURPOSES | $50,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE PURPOSES | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Dairyland Economic Opportunity Council Incorporated Independence, WI | $9,371,395 | $17,670,947 |
Rural America Initiatives Rapid City, SD | $11,020,564 | $7,975,941 |
Community And Economic Development Associates Chatfield, MN | $1,658,001 | $2,830,781 |
Sharing Our Roots Northfield, MN | $1,750,092 | $967,957 |
Rural Electric Economic Development Inc Madison, SD | $44,957,084 | $2,458,763 |
Door County Economic Development Corporation Sturgeon Bay, WI | $2,581,699 | $998,049 |
South Eastern Development Foundation Sioux Falls, SD | $22,464,210 | $4,520,935 |
North Central Planning Council Devils Lake, ND | $2,034,561 | $1,088,900 |
Center For Rural Policy And Development Mankato, MN | $628,188 | $663,588 |
Big Ideas Inc New Ulm, MN | $77,922 | $540,880 |
North Dakota Farmers Union Foundation Jamestown, ND | $258,278 | $297,826 |
Griggs-Steele Empowerment Zone Inc Finley, ND | $5,018,876 | $162,623 |