Gadsden-Etowah Industrial Development Authority
- Assets
- $719.3k
- Revenue
- $415.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Gadsden, AL
- Founding
- 06/1988
- Data as of
- 09/2022
- EIN
- 63-0888911
Organization Overview
Gadsden-Etowah Industrial Development Authority is located in Gadsden, AL. The organization was established in 1988. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2022, Gadsden-Etowah Industrial Development Authority employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gadsden-Etowah Industrial Development Authority 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, Gadsden-Etowah Industrial Development Authority generated $415.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $365.4k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK WITH LOCAL GOVERNMENTS TO ATTRACT AND EXPAND LOCAL BUSINESSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE INDUSTRY AND DEVELOP TRADE BY INDUCING MANUFACTURING, INDUSTRIAL, AND COMMERCIAL ENTERPRISES TO LOCATE IN ETOWAH COUNTY, ALABAMA
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James D Hooks Executive Di | Officer | 40 | $95,000 |
William Greene Deputy Execu | Officer | 40 | $68,000 |
John Reed President | OfficerTrustee | 1 | $0 |
Wilbur Masters Treasurer | OfficerTrustee | 1 | $0 |
Mike Harris Director | Trustee | 1 | $0 |
Harry Mcclendon Director | Trustee | 1 | $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 | $415,001 |
| Investment income | $685 |
| 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 | $415,686 |
| 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. | $197,045 |
| Compensation of current officers, directors, key employees. | $49,261 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,251 |
| Fees for services: Accounting | $6,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,593 |
| Office expenses | $5,253 |
| Information technology | $5,225 |
| Royalties | $0 |
| Occupancy | $47,269 |
| Travel | $9,645 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,337 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,756 |
| Insurance | $6,764 |
| All other expenses | $1,364 |
| Total functional expenses | $365,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $567,357 |
| Savings and temporary cash investments | $108,448 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $38,663 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,784 |
| Total assets | $719,252 |
| Accounts payable and accrued expenses | $5,509 |
| 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 | $4,784 |
| Total liabilities | $10,293 |
| Net assets without donor restrictions | $681,465 |
| Net assets with donor restrictions | $27,494 |
| 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 | $719,252 |
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