Cedar Rapids Metro Economic Alliance

Organization Overview

Cedar Rapids Metro Economic Alliance is located in Cedar Rapids, IA. The organization was established in 1943. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cedar Rapids Metro Economic Alliance employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cedar Rapids Metro Economic Alliance 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, Cedar Rapids Metro Economic Alliance generated $4.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SERVE AS THE CATALYST FOR ECONOMIC DIVERSITY, GROWTH AND PROSPERITY FOR OUR REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT - UNDER ECONOMIC DEVELOPMENT THE ECONOMIC ALLIANCE'S STRATEGIC GOALS ARE AS FOLLOWS: ATTRACT, GROW AND RETAIN INTERSTATE COMMERCE BUSINESS. OUR FOCUS IS TARGETED TOWARD BIO-PROCESSING/FOOD INGREDIENTS, DISTRIBUTION/LOGISTICS, ELECTRONIC EQUIPMENT/DESIGN, FOOD PROCESSING, FINANCIAL SERVICES/INSURANCE, INFORMATION TECHNOLOGY, PROCESS MANUFACTURING AND WIND ENERGY.1. DEVELOP AND MAINTAIN REPORTS OF DATA TOOLS TO ASSIST WITH PROJECT MANAGEMENT, BUSINESS AND WORKFORCE DEVELOPMENT.2. COORDINATE AND FACILITATE PROJECTS TO UTILIZE FINANCIAL TOOLS AND PROGRAMS FOR PROSPECTS AND CLIENTS.3. MAINTAIN AND ADVANCE RELATIONSHIPS WITH EXISTING COMPANIES TO IDENTIFY GROWTH AND RETENTION OPPORTUNITIES.4. DEVELOP AND IMPLEMENT STRATEGIES TO IMPROVE RECRUITMENT OF NEW COMPANIES. ALL PROGRAMS AND ECONOMIC DEVELOPMENT EFFORTS ARE DESIGNED TO MEET ONE OR MORE OF THE GOALS. WHILE MANY OF OUR ECONOMIC ALLIANCE STAFF SPEND TIME ON ECONOMIC DEVELOPMENT ORIENTED PROGRAMS, PROJECTS AND INITIATIVES, WE HAVE AN ECONOMIC DEVELOPMENT TEAM WHO SPECIFICALLY FOCUS ON MEETING OUR ECONOMIC DEVELOPMENT STRATEGIC GOALS.


COMMUNITY DEVELOPMENT - UNDER COMMUNITY DEVELOPMENT THE ECONOMIC ALLIANCE'S STRATEGIC GOALS ARE AS FOLLOWS: GROW CORE CENTRAL DISTRICTS IN CEDAR RAPIDS AND SUPPORT SURROUNDING COMMUNITIES.1. DEVELOP AND BEGIN IMPLEMENTATION OF AN UPDATED STRATEGIC PLAN FOR THE CEDAR RAPIDS DOWNTOWN DISTRICT AND MEDICAL DISTRICT.2. ASSIST THE CITY OF CEDAR RAPIDS IN ITS PLAN FOR FLOOD PROTECTION AND FINANCIAL SUPPORT.


BUSINESS SUPPORT - UNDER BUSINESS SUPPORT THE ECONOMIC ALLIANCE'S STRATEGIC GOALS ARE AS FOLLOWS:CREATE A STRONG BUSINESS ENVIRONMENT WHICH SUPPORTS ALL EMPLOYERS. ADDITIONALLY, WE WILL FOCUS ON SMALL AND LOCALLY-OWNED BUSINESSES TO ACHIEVE THE FOLLOWING:1. ENGAGE AND CONNECT BUSINESSES THROUGH NETWORKING, COMMUNITY AND PROFESSIONAL DEVELOPMENT PROGRAMS.2. PROVIDE EDUCATION AND AWARENESS ON LOCAL, REGIONAL AND STATE INITIATIVES WHICH ENHANCE REGIONAL AND STATE TRADE.


REGIONAL DEVELOPMENT - OUR REGIONAL DEVELOPMENT CORE FUNCTION IS DEDICATED TO COORDINATING WITH PARTNERS TO CONTRIBUTE TO THE FOLLOWING REGIONAL INITIATIVES: BRAND/IMAGE, WORKFORCE, CIVIC ENGAGEMENT, ENTREPRENEURISM AND DIVERSITY/INCLUSION. LEADERSHIP FOR FIVE SEASONS: LEADERSHIP FOR FIVE SEASONS IS A PROGRAM DEVELOPED AND MANAGED BY THE CEDAR RAPIDS METRO ECONOMIC ALLIANCE TO PREPARE EMERGING AND EXISTING LEADERS IN THE CEDAR RAPIDS AREA TO BE COMMUNITY TRUSTEES. THE GOAL OF THE PROGRAM IS TO EMPOWER AND INSPIRE DIVERSE INDIVIDUALS TO ACTIVELY LEAD IN SHAPING AND ENHANCING OUR QUALITY OF LIFE - SUPPLYING THE COMMUNITY WITH INFORMED, SKILLED LEADERS WILLING TO SERVE AS ACTIVE VOLUNTEERS. IOWA'S CREATIVE CORRIDOR (ICR IOWA): ICR IOWA REPRESENTS A SEVEN COUNTY REGIONAL PARTNERSHIP FOR BENTON, CEDAR, IOWA, JOHNSON, JONES, LINN AND WASHINGTON COUNTIES. REPRESENTING ONE OF THE LARGEST LABORSHEDS IN THE STATE, THE ECONOMIC DEVELOPMENT REPRESENTATIVES OF OUR AREA HAVE CREATED A STRATEGIC, SEVEN-COUNTY ALLIANCE DEDICATED TO ECONOMIC PROGRESS, WORKFORCE DEVELOPMENT, AND FOSTERING A CULTURE OF INNOVATION. IOWA'S CREATIVE CORRIDOR GIVES EMPLOYERS AND WORKFORCE ACCESS TO A REGION UNIQUELY IOWAN, FOUNDED WITH A MANUFACTURING HERITAGE, BUT ACTIVELY SEEKING NEW FRONTIERS AND OPPORTUNITIES IN INFORMATION TECHNOLOGY, BIOTECHNOLOGY AND BIOPROCESSING, RENEWABLE ENERGY, AND EDUCATIONAL SERVICES. IMPACTCR: THE CONCEPT IS SIMPLE - PROVIDE OUR MEMBERS THE OPPORTUNITY TO CONNECT, HAVE A VOICE AND MAKE A DIFFERENCE IN THEIR COMMUNITY.PUBLIC POLICY - THE ECONOMIC ALLIANCE IS FOCUESED ON PUBLIC POLICY ADVOCACY THAT SUPPORTS THE ORGANIZATION'S OTHER FOUR CORE FUNCTIONS: BUSINESS SUPPORT, COMMUNITY DEVELOPMENT, ECONOMIC DEVELOPMENT AND REGIONAL DEVELOPMENT.THE ECONOMIC ALLIANCE COLLABORATES WITH THE BUSINESS COMMUNITY AND OTHER STAKEHOLDERS AND PARTNERS, INCLUDING LOCAL MUNICIPALITIES AND ENTITIES, THE U.S. CHAMBER OF COMMERCE AND IOWA CHAMBER ALLIANCE TO DEVELOP A LOCAL, STATE AND FEDERAL POLICY AGENDA. WE THEN PROVIDE A UNIFIED VOICE TO ADVOCATE FOR PRO-BUSINESS AND PRO-GROWTH ISSUES KEY TO OUR MEMBERS AND THE REGION.


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Board, Officers & Key Employees

Name (title)Compensation
Douglas Neumann
President/ceo
$208,797
Ron Corbett
VP Of Economic Development
$147,424
Audrey Wheeler
Assistant Secretary
$109,814
Hugh Ekberg
Vice Chair
$0
Chris Skogman
Past Chair
$0
Tatum Buse
Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $372,543
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$372,543
Total Program Service Revenue$3,626,562
Investment income $54,190
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $28,815
Net Gain/Loss on Asset Sales -$1,371
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,090,469

Grants Awarded

Over the last fiscal year, Cedar Rapids Metro Economic Alliance has awarded $86,059 in support to 2 organizations.

Grant RecipientAmount

Cedar Rapids, IA

PURPOSE: JOINT VENTURE SUPPORT

$70,000

DOWNTOWN SSMID

PURPOSE: IT'S GO TIME DT SSMID SPONSORSHIP

$16,059
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Cedar Rapids Metro Economic Alliance has recieved totaling $25,000.

Awarding OrganizationAmount
GreenState Credit Union UNION

North Liberty, IA

PURPOSE: Buy Local Presenting Sponsor

$25,000
View Grant Recipient Profile

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