Edc Loan Corporation
- Assets
- $2.5m
- Revenue
- $284.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 10/1980
- Data as of
- 04/2023
- EIN
- 43-1204634
Organization Overview
Edc Loan Corporation is located in Kansas City, MO. The organization was established in 1980. 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. Edc Loan 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 04/2023, Edc Loan Corporation generated $284.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $246.5k during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Edc Loan Corporation has awarded 82 individual grants totaling $3,060,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA AND THE URBAN CORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTICIPATION WITH LOCAL LENDING INSTITUTIONS TO PROVIDE LOANS TO QUALIFIED BUSINESSES IN THE CORPORATION'S TARGETED AREA. PARTICIPATION IN THE SMALL BUSINESS ADMINISTRATION'S SECTION 504 LOAN PROGRAM AS A CERTIFIED DEVELOPMENT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Hathaway Director | Trustee | 1 | $0 |
Marquita Miller Director | Trustee | 1 | $0 |
Terry Riley Board Chair | OfficerTrustee | 1 | $0 |
Ajamu Webster Secretary | OfficerTrustee | 1 | $0 |
Tammy Queen Director | Trustee | 1 | $0 |
Tracey Lewis President & CEO | OfficerTrustee | 2 | $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 | $188,408 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,408 |
| Total Program Service Revenue | $95,587 |
| Investment income | $461 |
| 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 | $284,456 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,931 |
| Fees for services: Accounting | $15,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,770 |
| Advertising and promotion | $0 |
| Office expenses | $49 |
| Information technology | $2,486 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,954 |
| All other expenses | $0 |
| Total functional expenses | $246,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $706,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| 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 | $1,734,675 |
| Intangible assets | $0 |
| Other assets | $11,662 |
| Total assets | $2,452,885 |
| Accounts payable and accrued expenses | $950 |
| 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 | $88,946 |
| Total liabilities | $89,896 |
| Net assets without donor restrictions | $2,362,989 |
| 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 | $2,452,885 |
Grants Awarded
Over the last fiscal year, Edc Loan Corporation has awarded $3,060,000 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
AFFINITY SPORTS MEDICINE PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $30,000 |
6 TINO'S DBA RAY'S DONUTS PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
ANTIOCH BAR & GRILL PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $30,000 |
ASI DESIGNS DBA CUMPY'S (CUMPY'S SPORTS AND APPAREL) PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $40,000 |
ABOVE AND BEYOND PLUMBING PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $50,000 |
B&B THEATERS NORTHLAND 14 PURPOSE: PROVIDE FUNDS FOR UNFORESEEN EXPENSES RELATED TO RESPONSES AND DAMAGES ATTRIBUTED TO THE COVID-19 PANDEMIC. | $30,000 |