Murray-Calloway Economic Development Corporation
- Assets
- $17.5m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 4
- Location
- Murray, KY
- Founding
- 10/1985
- Data as of
- 12/2021
- EIN
- 61-1034835
Organization Overview
Murray-Calloway Economic Development Corporation is located in Murray, KY. The organization was established in 1985. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Murray-Calloway Economic Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Murray-Calloway 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, Murray-Calloway Economic Development Corporation generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 10.9% per year over the past 6 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
COMMUNITY AND ECONOMIC DEVELOPMENT SERVICES FOR MURRAY AND CALLOWAY COUNTY, KY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY AND ECONOMINC DEVELOPMENT
ALL OTHER ACCOMPLISHMENT ECONOMIC DEVELOPMENT FOR MURRAY KY AND CALLOWAY COUNTY KY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Manning President | 40 | $169,825 | |
Amy Futrell Vice Chairman | OfficerTrustee | 1 | $0 |
David Graham Chairman | OfficerTrustee | 1 | $0 |
Bob Hargrove Sec/treasurer | OfficerTrustee | 1 | $0 |
Jerry Duncan Director | Trustee | 1 | $0 |
Ronnie Gibson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,049 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,926 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,975 |
| Total Program Service Revenue | $0 |
| Investment income | $13,399 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $722,351 |
| Net Gain/Loss on Asset Sales | $18,621 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,881,346 |
| 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. | $169,825 |
| Compensation of current officers, directors, key employees. | $169,825 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,310 |
| Pension plan accruals and contributions | $6,526 |
| Other employee benefits | $53,399 |
| Payroll taxes | $16,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,265 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,456 |
| Office expenses | $27,209 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,695 |
| Travel | $10,872 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $167,566 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $273,309 |
| Insurance | $7,942 |
| All other expenses | $0 |
| Total functional expenses | $1,007,654 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $872,096 |
| 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 | $484,823 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,108,934 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,063,968 |
| Total assets | $17,529,821 |
| Accounts payable and accrued expenses | $5,067 |
| 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 | $6,505,094 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,730,262 |
| Total liabilities | $9,240,423 |
| Net assets without donor restrictions | $8,289,398 |
| 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 | $17,529,821 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Murray-Calloway Economic Development Corporation has recieved totaling $125,437.
| Awarding Organization | Amount |
|---|---|
Purchase Area Regional Industrial Park Authority Inc Mayfield, KY PURPOSE: TO CREATE LONG TERM JOBS IN CALLOWAY COUNTY. | $125,437 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |