Arizona Regional Economic Development Foundation

Organization Overview

Arizona Regional Economic Development Foundation, operating under the name Foundation, is located in Sierra Vista, AZ. The organization was established in 1987. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Foundation generated $723.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $652.7k during the year ending 06/2021. While expenses have increased by 0.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PRESERVATION AND STRENGTHENING OF THE REGIONAL ECONOMY THROUGH INITIATIVES FOCUSED ON INDUSTRY RECRUITMENT, EXPANSION AND DEVELOPMENT. THE MISSION IS ACCOMPLISHED BY PROVIDING CONSULTING SERVICES, PROMOTION OF SPECIAL EVENTS, AND LEASING OF COMMERCIAL FACILITIES. SEE SCH O 07.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RENTAL EXPENSES RELATED TO BUILDINGS LEASED AS PART OF ECONOMIC DEVELOPMENT PROJECTS TO ENCOURAGE EMPLOYERS TO OPERATE IN SIERRA VISTA. THESE PROJECTS HAVE RESULTED IN THE CREATION OF OVER 800 JOBS IN SIERRA VISTA.


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Board, Officers & Key Employees

Name (title)Compensation
Lynn Mattingly
President
$0
Ron Curtis
Vice-President
$0
Kirby Chapman
Treasurer
$0
Sheila Heidman
Secretary
$0
Gary Haymore
Board Member
$0
Paul Melo
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$997
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$997
Total Program Service Revenue$605,112
Investment income $63,541
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $53,341
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $722,991

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Arizona Regional Economic Development Foundation has recieved totaling $72,934.

Awarding OrganizationAmount
Arizona Science Center

Phoenix, AZ

PURPOSE: TO BUILD A STEM RESEARCH BASE ON HOW TO ENGAGE AND EMPOWER RURAL COMMUNITIES.

$72,934
View Grant Recipient Profile

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