Shenandoah Economic Development Corp
- Assets
- $116.5k
- Revenue
- $261.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Shenandoah, IA
- Founding
- 12/1955
- Data as of
- 12/2021
- EIN
- 51-0245749
Organization Overview
Shenandoah Economic Development Corp is located in Shenandoah, IA. The organization was established in 1955. 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. As of 12/2021, Shenandoah Economic Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shenandoah Economic Development Corp 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, Shenandoah Economic Development Corp generated $261.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $308.1k during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SHENANDOAH CHAMBER & INDUSTRY ASSOCIATION IS TO IMPROVE THE ECONOMIC VITALITY, TO EXPAND HIGH PAYING EMPLOYMENT OPPORTUNITIES, ENHANCE RETAIL SHOPPING, AND TO SUPPORT MAJOR
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHENFEST, THURSDAY AT THE FLATIRON, CHRISTMAS, SNO DOUGH, CHOCOLATE WALK, OUTLET SALE, SIDEWALK SALE, MARATHON, MOONLIGHT MADNESS, DISABILITY AWARENESS WALK AND CHAMBER COFFEES - PROMOTE COMMUNITY DEVELOPMENT AND TO SHOWCARE AREA BUSINESSESS AND ACTIVITIES AVAILABLE IN THE COMMUNITY
ANNUAL MEETING - AN EVENT TO PROMOTE NEW ECONOMIC DEVELOPMENT AND EXSISTING RETAIL BUSINESSES AND COMMUNITY SUPPORT AND INVOLVEMENT
BUSINESS & INDUSTRY RECRUITMENT AND RETENTION - BOTH SMALL AND LARGE BUSINESS - ATTRACT BUSINESS & INDUSTRIES TO AID IN ECONOMIC DEVELOPMENT FOR PURPOSE OF PROVIDING EMPLOYMENT OPPORTUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg Connell Executive Vice President | Officer | 40 | $77,788 |
John Mcbride President | OfficerTrustee | 1 | $0 |
Stephanie Osborn Treasurer | OfficerTrustee | 1 | $0 |
Bill Ditmars Vice President | OfficerTrustee | 1 | $0 |
Matt Sells Director | Trustee | 1 | $0 |
Kerri Nelson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $46,602 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $153,833 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,385 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,820 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,800 |
| 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 | $261,624 |
| 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. | $77,788 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,000 |
| Payroll taxes | $10,248 |
| Fees for services: Management | $10,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,725 |
| Advertising and promotion | $21,409 |
| Office expenses | $6,512 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,760 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,101 |
| All other expenses | $0 |
| Total functional expenses | $308,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $26,168 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,660 |
| 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 | $88,708 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $116,536 |
| Accounts payable and accrued expenses | $6,271 |
| 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 | $0 |
| Total liabilities | $6,271 |
| Net assets without donor restrictions | $0 |
| 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 | $110,265 |
| Total liabilities and net assets/fund balances | $116,536 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |