Grow Greater Burlington Inc
- Assets
- $2.3m
- Revenue
- $743.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, IA
- Founding
- 02/1972
- Data as of
- 12/2022
- EIN
- 42-0982794
Organization Overview
Grow Greater Burlington Inc is located in Burlington, IA. The organization was established in 1972. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Grow Greater Burlington Inc 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 12/2022, Grow Greater Burlington Inc generated $743.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $816.8k during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 8 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
GROW GREATER BURLINGTON, INC. IS A NONPROFIT ORGANIZATION ENGAGED IN ATTRACTING NEW INDUSTRIES TO THE BURLINGTON, IOWA AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTRACTING NEW INDUSTRY TO THE COMMUNITY AS WELL AS ENCOURAGING EXPANSION OF EXISTING INDUSTRY IN THE COMMUNITY THROUGH WORKFORCE DEVELOPMENT PROGRAMMING AND COMMUNITY ENHANCEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Della D Schmidt President | OfficerTrustee | 20 | $87,470 |
Mary Beth Sanchez CFO | Officer | 14 | $9,666 |
Michael Ash Director | Trustee | $0 | |
Eric Benne Chair-Elect | OfficerTrustee | $0 | |
Bryan Bross Director | Trustee | $0 | |
Gary Hoyer Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $215,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $495,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $710,201 |
| Total Program Service Revenue | $10,634 |
| Investment income | $1,857 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,731 |
| 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 | $743,423 |
| 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. | $97,136 |
| Compensation of current officers, directors, key employees. | $97,136 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $291,020 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,102 |
| Payroll taxes | $28,948 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,934 |
| Advertising and promotion | $13,663 |
| Office expenses | $6,797 |
| Information technology | $18,582 |
| Royalties | $0 |
| Occupancy | $45,345 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,250 |
| Insurance | $2,764 |
| All other expenses | $1,236 |
| Total functional expenses | $816,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,096,032 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,635 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $55,180 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,485 |
| Net Land, buildings, and equipment | $28,858 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,086,343 |
| Total assets | $2,280,533 |
| Accounts payable and accrued expenses | $22,893 |
| Grants payable | $0 |
| Deferred revenue | $400 |
| 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 | $430,846 |
| Total liabilities | $454,139 |
| Net assets without donor restrictions | $1,826,394 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,280,533 |
Grants Awarded
Over the last fiscal year, Grow Greater Burlington Inc has awarded $70,960 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LEOPOLD LANDSCAPE ALLIANCE PURPOSE: HEALTHY NEIGHBORHOOD | $10,000 |
CITY OF BURLINGTON PURPOSE: HEALTHY NEIGHBORHOOD | $10,000 |
SOUTHEAST IOWA SWIM CLUB PURPOSE: POOL | $25,000 |
SCC FOUNDATION PURPOSE: DEVELOPMENT | $25,960 |