Economic Development Asso Of Alabama
- Assets
- $775.1k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Montgomery, AL
- Founding
- 01/1986
- Data as of
- 12/2022
- EIN
- 63-0886994
Organization Overview
Economic Development Asso Of Alabama is located in Montgomery, AL. The organization was established in 1986. 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 12/2022, Economic Development Asso Of Alabama employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Asso Of Alabama 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 12/2022, Economic Development Asso Of Alabama generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $887.4k during the year ending 12/2022. While expenses have increased by 4.0% per year over the past 8 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
EDAA WILL PURPOSEFULLY ADVOCATE ISSUES WHICH CAN POSITIVELY IMPACT THE ECONOMIC DEVELOPMENT COMMUNITY AND PROFESSION IN ALABAMA THROUGH LEGISLATION AND PROFESSIONAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES AND WORKSHOPS PROVIDE MEMBERS WITH INCREASED KNOWLEDGE OF ECONOMIC DEVELOPMENT METHODS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shane Kearney Board Member | Trustee | 0 | $0 |
Allison Brantley Board Member | Trustee | 0 | $0 |
Ernie Cowart Board Member | Trustee | 0 | $0 |
Cary Cox Board Member | Trustee | 0 | $0 |
Nathan Lee Board Member | Trustee | 0 | $0 |
David Rodgers Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,003,642 |
| Investment income | $225 |
| 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 | $1,007,717 |
| 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. | $177,949 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,686 |
| Pension plan accruals and contributions | $7,151 |
| Other employee benefits | $10,663 |
| Payroll taxes | $16,911 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $60,563 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $9,377 |
| Conferences, conventions, and meetings | $382,565 |
| Interest | $992 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,363 |
| Insurance | $2,233 |
| All other expenses | $7,866 |
| Total functional expenses | $887,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $410,967 |
| Savings and temporary cash investments | $288,697 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000 |
| 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 | $20,002 |
| Net Land, buildings, and equipment | $17,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,270 |
| Total assets | $775,092 |
| Accounts payable and accrued expenses | $9,243 |
| Grants payable | $0 |
| Deferred revenue | $279,060 |
| 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 | $13,515 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,270 |
| Total liabilities | $335,088 |
| 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 | $440,004 |
| Total liabilities and net assets/fund balances | $775,092 |