The Talladega County Economic Development Authority
- Assets
- $5.5m
- Revenue
- $660.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Sylacauga, AL
- Founding
- 01/1991
- Data as of
- 09/2021
- EIN
- 63-1013094
Organization Overview
The Talladega County Economic Development Authority is located in Sylacauga, AL. The organization was established in 1991. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Talladega County Economic Development Authority employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Talladega County Economic 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 09/2021, Talladega County Economic Development Authority generated $660.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $452.3k during the year ending 09/2021. 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
TO BRING IN NEW BUSINESS GROWTH INTO TALLADEGA COUNTY. EXPANSION OF EXISTING BUSINESSES, RECRUITMENT OF NEW BUSINESSES, WHICH INVOLVED DEVELOPMENT OF INDUSTRIAL SITES AND MARKETING ACTIVITIES. MAINTAIN ECONOMIC EDUCATION AND UTILITY DATA, AND PROMOTE ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE NEW ECONOMIC GROWTH AND INDUSTRIAL BUSINESSES IN TALLADEGA COUNTY
TO PROMOTE ECONOMIC GROWTH IN TALLADEGA COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luther C Miller Jr Executive Di | OfficerTrustee | 40 | $144,961 |
Grant Lynch Chairman | Officer | 0 | $0 |
Leland Fuller Vice Chairma | Officer | 0 | $0 |
Wayne Hall Director | Trustee | 0 | $0 |
Marion Cook Director | Trustee | 0 | $0 |
Dalbert Marsh Director | 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 | $648,106 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $648,106 |
| Total Program Service Revenue | $0 |
| Investment income | $12,488 |
| 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 | $660,594 |
| 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 | $25,008 |
| Compensation of current officers, directors, key employees. | $250,842 |
| 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 | $19,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,100 |
| Office expenses | $2,672 |
| Information technology | $975 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $618 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $650 |
| Interest | $13,002 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,800 |
| Insurance | $52,611 |
| All other expenses | $22,833 |
| Total functional expenses | $452,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $542,369 |
| Savings and temporary cash investments | $945,978 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,536 |
| 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 | $20,879 |
| Net Land, buildings, and equipment | $76,075 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,856,872 |
| Total assets | $5,545,709 |
| Accounts payable and accrued expenses | $13,875 |
| 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 | $2,192,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,205,875 |
| Net assets without donor restrictions | $3,339,834 |
| 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 | $5,545,709 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Three Rivers Planning & Development District Pontotoc, MS | $48,398,868 | $43,682,575 |
Christian Community Development Corporation Inc Memphis, TN | $275,024,548 | $28,566,509 |
Csra Economic Opportunity Authority Inc Augusta, GA | $4,657,645 | $27,091,304 |
Neighborhood Improvement Project Inc Augusta, GA | $12,770,161 | $24,738,698 |
Hope Enterprise Corporation Jackson, MS | $150,349,143 | $24,959,106 |
Action Pact Inc Waycross, GA | $10,194,672 | $25,026,911 |
Upper East Tennessee Human Development Agency Kingsport, TN | $7,143,102 | $23,146,809 |
Northwest Tennessee Economic Development Council Dresden, TN | $2,980,191 | $21,895,121 |
Tallatoona Community Action Partnership Inc Cartersville, GA | $2,878,907 | $21,403,724 |
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |