Springfield Business Development Corporation

Organization Overview

Springfield Business Development Corporation is located in Springfield, MO. The organization was established in 1984. 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. Springfield Business Development Corporation 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 12/2020, Springfield Business Development Corporation generated $935.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $880.4k during the year ending 12/2020. While expenses have increased by 0.7% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE CONTINUED REVENUE SOURCE FOR THE CHAMBER'S ECONOMIC DEV. PROGRAM; ASSISTING BUSINESS AND INDUSTRY AND ATTRACTING NEW BUSINESS AND INDUSTRY TO THE REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC DEVELOPMENT PROJECTS - IN 2021, ECONOMIC DEVELOPMENT TEAM MANAGED 40 NEW BUSINESS INVESTMENT OPPORTUNITIES/LEADS, RESULTING IN 10 COMPETITIVE PROJECTS. THE TEAM HOSTED 6 PROJECT SPECIFIC SITE VISITS IN THE SPRINGFIELD REGION AND ANNOUNCED 4 PROJECT WINS.


BUSINESS DEVELOPMENT INITIATIVES - IN 2021, OUR AGGRESSIVE APPROACH TO ASSISTING EXISTING COMPANIES WITH GROWTH OPTIONS, CONTINUED ALONG WITH OUR OUTREACH TO BRING NEW PRIMARY INDUSTRY SECTOR EMPLOYERS TO THE AREA. STAFF HELD NUMEROUS FACE-TO-FACE MEETINGS WITH LOCAL BUSINESS LEADERS TO IDENTIFY BARRIERS TO GROWTH AND INVESTMENTS THEY MAY NEED TO MAKE TO ENSURE THEIR PRESENCE IN THE REGION. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.


WORKFORCE DEVELOPMENT - IN ORDER TO MEET THE MOST PRESSING NEED OF EXISTING BUSINESSES, NEWLY ATTRACTED BUSINESSES AND START-UP COMPANIES, THE SBDC HAS SIGNIFICANTLY INCREASED ITS FOCUS ON WORKFORCE DEVELOPMENT. STAFF ADMINISTERS SIGNIFICANT PROGRAMS FOCUSED ON DEVELOPING TALENT WITHIN THE EXISTING EDUCATION SYSTEM, ATTRACTING TALENT TO THE REGION FROM OUTSIDE THE AREA AND RETAINING TALENT ALREADY IN THE REGION OR ATTENDING SCHOOL IN THE REGION. ALL OF THESE EFFORTS WILL GIVE SPRINGFIELD A COMPETITIVE ADVANTAGE NOW AND INTO THE FORESEEABLE FUTURE.


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Board, Officers & Key Employees

Name (title)Compensation
Matt Morrow
Board Secretary
$0
Gary Schafer
Board Vice President
$0
Jena Holtberg-Benge
Board President
$0
Chris Stange
Board Treasurer
$0
Logan Aguirre
Board Member
$0
David Atkisson
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $174,000
All other contributions, gifts, grants, and similar amounts not included above$402,583
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$576,583
Total Program Service Revenue$356,987
Investment income $1,631
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 $935,201

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Springfield Business Development Corporation has recieved totaling $7,500.

Awarding OrganizationAmount
Commerce Foundation

Kansas City, MO

PURPOSE: USED AT THE DISCRETION OF THE BOARD OF DIRECTORS OR TRUSTEES AS THEY SEE FIT FOR OPERATING THEIR ORGANIZATION.

$7,500
View Grant Recipient Profile

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