Lincoln County Enterprise Development Corporation
- Assets
- $38.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Ivanhoe, MN
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 41-1676839
Organization Overview
Lincoln County Enterprise Development Corporation is located in Ivanhoe, MN. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln County Enterprise Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Lincoln County Enterprise Development Corporation generated $81.8k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $69.4k during the year ending 12/2021. While expenses have increased by 0.4% per year over the past 3 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
ECONOMIC DEVELOPMENT WITHIN LINCOLN COUNTY, MINNESOTA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Lichtsinn Board Member | 0 | $0 | |
Jeanne Bednarak Secretary/treasurer | 0 | $0 | |
David Blees Board Member | 0 | $0 | |
Dave Enke Board Member | 0 | $0 | |
John Engels Chair | 0 | $0 | |
Jeff Gollaher Vice-Chair | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,800 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $81,800 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $62,474 |
| Occupancy, rent, utilities, and maintenance | $1,180 |
| Printing, publications, postage, and shipping | $1,977 |
| Other expenses | $3,759 |
| Total expenses | $69,390 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $38,596 |
| Other assets | $0 |
| Total assets | $38,596 |
| Total liabilities | $1,977 |
| Net assets or fund balances | $36,619 |