Pratt Area Economic Development Corporation
- Assets
- $695.9k
- Revenue
- $85.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Pratt, KS
- Founding
- 10/1998
- Data as of
- 12/2021
- EIN
- 48-1160138
Organization Overview
Pratt Area Economic Development Corporation is located in Pratt, KS. The organization was established in 1998. 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. Pratt Area Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Pratt Area Economic Development Corporation generated $85.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $127.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RECRUIT NEW BUSINESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS ASSISTANCE-HELP COVER THE COSTS FOR A LOCAL BUSINESS EXPANDING THEIR OFFICE
BUSINESS ASSISTANCE-HELP COVER THE COSTS FOR A LOCAL BUSINESS TO REMODEL A BUILDING TO FIT THEIR NEEDS
BUSINESS ASSITANCE-HELP COVER COSTS FOR LOCAL BUSINEES REMODELING OFFICES
BUSINESS ASSISTANCE-FULFILL PRIOR YEAR PLEDGES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth Ann Barker Secretary/tr | OfficerTrustee | $0 | |
Mark Morgan President | OfficerTrustee | $0 | |
Myron Bartel Board Member | Trustee | $0 | |
Doug Meyer Board Member | Trustee | $0 | |
Brian Moore Board Member | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $84,881 |
| Investment income | $739 |
| 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 | $85,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,332 |
| 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 | $0 |
| Fees for services: Accounting | $3,873 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $960 |
| All other expenses | $750 |
| Total functional expenses | $126,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $695,855 |
| 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 | $695,855 |
| Accounts payable and accrued expenses | $0 |
| 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 | $262,000 |
| Total liabilities | $262,000 |
| Net assets without donor restrictions | $433,855 |
| 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 | $695,855 |
Grants Awarded
Over the last fiscal year, Pratt Area Economic Development Corporation has awarded $116,332 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HEAVY METAL RECYCLERS PURPOSE: ECONOMIC DEVELOPMENT | $64,000 |
CORNERSTONE AUTOPARTS PURPOSE: ECONOMIC DEVELOPMENT | $47,000 |
OTHER ASSISTANCE PURPOSE: ECONOMIC DEVELOPMENT | $5,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Development Institute Kansas Denver, CO | $25,496,430 | $27,631,308 |
Delta Area Economic Opportunity Corporation Portageville, MO | $22,832,856 | $23,706,654 |
Jefferson Franklin Community Action Corporation Hillsboro, MO | $6,544,452 | $18,340,130 |
Central Nebraska Community Action Partnership Inc Loup City, NE | $11,182,517 | $15,277,585 |
South Central Missouri Community Action Agency Winona, MO | $9,962,741 | $13,195,865 |
Community Action Agency Of St Louis County Inc Overland, MO | $8,798,142 | $11,519,810 |
Missouri Ozarks Community Action Inc Richland, MO | $5,332,048 | $11,016,032 |
Urban Land Conservancy Denver, CO | $141,352,888 | $31,846,899 |
Health Care Coalition Of Lafayette County Lexington, MO | $6,605,075 | $10,749,967 |
Better Family Life Inc Saint Louis, MO | $13,300,452 | $8,576,793 |
Center For People In Need Inc Lincoln, NE | $4,396,742 | $7,753,507 |
Cortex St Louis, MO | $86,543,841 | $5,279,863 |