Greater Owensboro Economic Development Corp
- Assets
- $893.4k
- Revenue
- $590.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Owensboro, KY
- Founding
- 10/1994
- Data as of
- 06/2021
- EIN
- 61-1254984
Organization Overview
Greater Owensboro Economic Development Corp is located in Owensboro, KY. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Greater Owensboro 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 06/2021, Greater Owensboro Economic Development Corp generated $590.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $615.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 7 years. 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 PROMOTION, ENCOURAGEMENT, AND SOLICITATION OF NEW AND EXPANDED INDUSTRIAL FACILITIES IN THE OWENSBORO-DAVIESS COUNTY AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION, ENCOURAGEMENT, AND SOLICITATION OF NEW AND EXPANDED INDUSTRIAL FACILITIES IN THE OWENSBORO-DAVIESS COUNTY AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brittaney Johnson President | Officer | 40 | $0 |
Buzz Backstrom Director | Trustee | 0 | $0 |
Bob Berry Director | Trustee | 0 | $0 |
Andre Bradley Director | Trustee | 0 | $0 |
Kevin Frizzell Director | Trustee | 0 | $0 |
Tom Ed Booth Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $597,680 |
| Investment income | $668 |
| 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 | $590,328 |
| Statement of Expenses | |
|---|---|
| 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 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 | $352,041 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,104 |
| Advertising and promotion | $45,534 |
| Office expenses | $8,128 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,881 |
| Travel | $9,705 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,429 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,320 |
| Insurance | $6,130 |
| All other expenses | $0 |
| Total functional expenses | $615,217 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $729,581 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $48,415 |
| 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 | $16,506 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $33,870 |
| Intangible assets | $0 |
| Other assets | $11,188 |
| Total assets | $893,365 |
| Accounts payable and accrued expenses | $57,084 |
| 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 | $57,084 |
| 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 |
| Total liabilities and net assets/fund balances | $836,281 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Owensboro Economic Development Corp has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Owensboro Health Regional Hospital Owensboro, KY PURPOSE: Community Support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
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 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |