Regional Economic Development Incorporated
- Assets
- $307.7k
- Revenue
- $384.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, MO
- Founding
- 10/1989
- Data as of
- 09/2023
- EIN
- 43-1516160
Organization Overview
Regional Economic Development Incorporated is located in Columbia, MO. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic 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. Regional Economic Development Incorporated 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 09/2023, Regional Economic Development Incorporated generated $384.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $426.6k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT NEW BUSINESSES AND QUALITY JOBS THAT ENHANCE THE AREA'S ECONOMY AND COMMUNITY; TO EXPAND THE PRESENCE OF EXISTING LEGACY BUSINESSES AND ENURE A SUSTAINABLE WORKFORCE; AND TO GROW START-UP BUSINESSES AND FOSTER A STRONGER ENTREPRENEURIAL ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ECONOMIC DEVELOPMENT AND ACTIVITY IN THE COLUMBIA/BOONE COUNTY AREA
TO WORK WITH RETAIL-BASED ENTREPRENEURS IN MID-MISSOURI TO PROVIDE THEM WITH EQUIPMENT AND BUSINESS SUPPORT FOR THEIR BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Ross Chair | OfficerTrustee | 0.6 | $0 |
Todd Hoien Vice Chair | OfficerTrustee | 0.6 | $0 |
Ryan Rapp Treasurer | OfficerTrustee | 0.6 | $0 |
Jen Hedrick Secretary | OfficerTrustee | 0.6 | $0 |
Susan Hart Past Chair | OfficerTrustee | 0.6 | $0 |
Mat Gass Member | Trustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,500 |
| Total Program Service Revenue | $333,347 |
| Investment income | $394 |
| 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 | $384,333 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,200 |
| 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 | $0 |
| Fees for services: Accounting | $13,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,150 |
| Advertising and promotion | $34,416 |
| Office expenses | $29,657 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,532 |
| Travel | $27,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,936 |
| Interest | $5,284 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,294 |
| All other expenses | $562 |
| Total functional expenses | $426,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,674 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $307,674 |
| Accounts payable and accrued expenses | $9,113 |
| Grants payable | $0 |
| Deferred revenue | $8,750 |
| 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 | $113,230 |
| Other liabilities | $3,680 |
| Total liabilities | $134,773 |
| Net assets without donor restrictions | $138,664 |
| Net assets with donor restrictions | $34,237 |
| 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 | $307,674 |