Georgia Corporation For Economic Development
- Assets
- $4.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 09/1994
- Data as of
- 06/2021
- EIN
- 58-2059120
Organization Overview
Georgia Corporation For Economic Development is located in Atlanta, GA. The organization was established in 1994. 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 the central organization for a national or regional group of organizations. Georgia Corporation For Economic Development 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 06/2021, Georgia Corporation For Economic Development generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $490.0k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Georgia Corporation For Economic Development has awarded 37 individual grants totaling $2,197,596. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST IN GEORGIA ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST IN THE PREPARATION OF A STATE ECONOMIC DEVELOPMENT PLAN AND STRATEGY TO HELP THE STATE OF GEORGIA'S DEPARTMENT OF ECONOMIC DEVELOPMENT, AND OTHER PROGRAMS OF ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Working Part | Trustee | 1 | $0 |
Brittany Young Executive Di | OfficerTrustee | 1 | $0 |
Aprill Spingfield Blanco Working Part | Trustee | 1 | $0 |
Aubrey Brown Working Part | Trustee | 1 | $0 |
Pedro Cherry Board Member | Trustee | 1 | $0 |
Morgan B Law Cecd Working Part | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Omni Hotels And Resorts Hospitality | 6/29/18 | $139,045 |
Sea Island Acquisition Llc Hospitality | 6/29/18 | $264,375 |
Delta Airlines Inc Flight | 6/29/18 | $120,780 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,000,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $650,000 |
| 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 | $1,650,000 |
| Total Program Service Revenue | $0 |
| Investment income | $51 |
| 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 | $1,650,051 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $123,400 |
| 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 | $33,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,891 |
| Advertising and promotion | $42,500 |
| Office expenses | $1,508 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,271 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,310 |
| All other expenses | $0 |
| Total functional expenses | $490,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,092,932 |
| Savings and temporary cash investments | $509,274 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $200,400 |
| 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 | $544,412 |
| 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 | $4,347,018 |
| Accounts payable and accrued expenses | $29,491 |
| Grants payable | $0 |
| Deferred revenue | $475,000 |
| 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 | $504,491 |
| Net assets without donor restrictions | $3,842,527 |
| 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 | $4,347,018 |
Grants Awarded
Over the last fiscal year, Georgia Corporation For Economic Development has awarded $123,400 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: GENERAL SUPPORT | $50,000 |
Norcross, GA PURPOSE: SPONSOR EVENT | $30,900 |
Shelton, CT PURPOSE: SPONSOR EVENT | $25,000 |
CRAIN COMMUNICATIONS PURPOSE: SPONSOR EVENT | $17,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Georgia Corporation For Economic Development has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Walter Rich Etal Mem Fd Orlando, FL PURPOSE: GENERAL OPERATING | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Tampa Bay Convention & Visitors Bureau Inc Tampa, FL | $9,049,029 | $16,723,785 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Discover Palm Beach County Inc West Palm Beach, FL | $6,257,115 | $17,672,568 |
Step Up Suncoast Inc Sarasota, FL | $3,209,226 | $16,919,808 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |