Area Development Partnership
- Assets
- $1.5m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 15
- Location
- Hattiesburg, MS
- Founding
- 05/1989
- Data as of
- 09/2022
- EIN
- 57-0884979
Organization Overview
Area Development Partnership is located in Hattiesburg, MS. The organization was established in 1989. 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. As of 09/2022, Area Development Partnership employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Area Development Partnership 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 09/2022, Area Development Partnership generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.2m during the year ending 09/2022. While expenses have increased by 3.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE ECONOMIC GROWTH AND DEVELOPMENT THROUGH ENRICHMENT OF COMMUNITY INVOLVEMENT AND SUPPORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER - FACILITATED NUMEROUS PROFESSIONAL DEVELOPMENT PROGRAMS FOR AREA YOUNG PROFESSIONALS, SMALL BUSINESS OWNERS, MEMBERSHIP; ORGANIZED AND HOSTED MEMBER EVENTS WITH OPPORTUNITIES FOR NETWORKING, SHARING STRATEGIES FOR SUCCESS; ORGANIZED AND HOSTED RIBBON CUTTINGS FOR NEW AND EXPANDED BUSINESSES; RECRUITMENT AND RETENTION OF ADP MEMBERSHIP.
ECONOMIC DEVELOPMENT - RECRUITMENT OF DOMESTIC AND INTERNATIONAL BUSINESSES; WORKFORCE DEVELOPMENT PROGRAMS AND EVENTS CONNECTING STUDENTS AND TEACHERS TO AREA EMPLOYERS; COMMUNITY, MILITARY AND GOVERNMENT RELATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Newell President | OfficerTrustee | 39 | $326,197 |
Todd Jackson Executive Vice President | 40 | $176,552 | |
Jan Delancey VP Of Finance And Administ | Officer | 39 | $83,433 |
Grant Walker Chair | OfficerTrustee | 0 | $0 |
Rob Tatum Immediate Past Chair | OfficerTrustee | 0 | $0 |
Roman Galey Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $744,996 |
| Government grants | $204,208 |
| 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 | $949,204 |
| Total Program Service Revenue | $1,469,062 |
| Investment income | $18,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,139 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,438,844 |
| 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. | $457,737 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $593,759 |
| Pension plan accruals and contributions | $36,931 |
| Other employee benefits | $75,636 |
| Payroll taxes | $68,381 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $803 |
| Fees for services: Accounting | $21,976 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,181 |
| Advertising and promotion | $0 |
| Office expenses | $34,295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,141 |
| Travel | $4,493 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,190 |
| Interest | $790 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,185 |
| Insurance | $17,035 |
| All other expenses | $161,923 |
| Total functional expenses | $2,154,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $641,577 |
| Savings and temporary cash investments | $425,030 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $131,118 |
| 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 | $146,392 |
| Investments—publicly traded securities | $143,929 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,408 |
| Total assets | $1,489,454 |
| Accounts payable and accrued expenses | $159,439 |
| Grants payable | $0 |
| Deferred revenue | $186,212 |
| 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 | $143,929 |
| Total liabilities | $489,580 |
| Net assets without donor restrictions | $983,075 |
| Net assets with donor restrictions | $16,799 |
| 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 | $1,489,454 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Area Development Partnership has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Asbury Foundation Of Hattiesburg Inc Hattiesburg, MS PURPOSE: PINACLE CAMPAIGN | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Martin Iberia Lafayette Parishes Community Action Agency Lafayette, LA | $1,628,921 | $19,226,376 |
Northwest Arkansas Council Foundation Springdale, AR | $9,473,428 | $13,530,717 |
Golden Triangle Planning & Development District Inc Starkville, MS | $16,192,589 | $11,220,298 |
Neighborhood Preservation Inc Memphis, TN | $5,226,571 | $6,441,182 |
Woodbine Community Organization Wco Inc Nashville, TN | $99,872,484 | $15,160,345 |
Mid-Delta Community Services Inc Helena, AR | $2,889,498 | $10,056,138 |
Communities Unlimited Inc Fayetteville, AR | $26,843,803 | $9,936,122 |
Southwest Mississippi Planning And Development District Inc Natchez, MS | $14,931,557 | $8,375,753 |
Economic Opportunity Agency Of Washington County Inc Springdale, AR | $5,019,111 | $7,887,315 |
Delta Community Action Association Inc Tallulah, LA | $2,682,123 | $8,135,037 |
Northwest Tennessee Development Martin, TN | $5,677,713 | $7,068,049 |
Oasis Center Inc Nashville, TN | $8,797,706 | $7,228,064 |