Maddock Economic Development Inc
- Assets
- $125.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Maddock, ND
- Founding
- 11/1997
- Data as of
- 12/2020
- EIN
- 45-0379098
Organization Overview
Maddock Economic Development Inc is located in Maddock, ND. The organization was established in 1997. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. Maddock Economic Development Inc 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, Maddock Economic Development Inc generated $25.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $18.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (17.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
TO ACT AS AN AGENT OR TRUSTEE IN RELATIONSHIPS IN THE RETENTION AND DEVELOPMENT OF THE CITY AND ADJACNT TRADE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Swanson President | 1 | $0 | |
Dave Kenner Vice President | 1 | $0 | |
Rod Maddock Treasurer | 1 | $0 | |
Lindsey Homelvig Secretary | 1 | $0 | |
Judy Kallenbach Director | 0 | $0 | |
Frank Rodriguez Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $25,499 |
| Membership dues | $0 |
| Investment income | $273 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $25,772 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $15,308 |
| Professional fees and other payments to independent contractors | $450 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $2,490 |
| Total expenses | $18,248 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $122,349 |
| Other assets | $0 |
| Total assets | $125,158 |
| Total liabilities | $2,227 |
| Net assets or fund balances | $122,931 |