Kenai Peninsula Economic Development District Inc
- Assets
- $1.1m
- Revenue
- $595.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Kenai, AK
- Founding
- 12/1988
- Data as of
- 06/2021
- EIN
- 92-0125774
Organization Overview
Kenai Peninsula Economic Development District Inc is located in Kenai, AK. The organization was established in 1988. 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 06/2021, Kenai Peninsula Economic Development District Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kenai Peninsula Economic Development District Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Kenai Peninsula Economic Development District Inc generated $595.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $687.2k during the year ending 06/2021. While expenses have increased by 8.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER ECONOMIC GROWTH BY DEVELOPING AND IMPLEMENTING A BOROUGH-WIDE ECONOMIC DEVELOPMENT PROGRAM DESIGNED TO CREATE EMPLOYMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER ECONOMIC GROWTH BY DEVELOPING AND IMPLEMENTING A BOROUGH-WIDE ECONOMIC DEVELOPMENT PROGRAM DESIGNED TO CREATE EMPLOYMENT OPPORTUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Dillon Executive Dir. | OfficerTrustee | 40 | $147,513 |
Tim Redder Treasurer | OfficerTrustee | 1 | $0 |
Bruce Richards Vice President | OfficerTrustee | 1 | $0 |
Chris Hough Secretary | OfficerTrustee | 1 | $0 |
Todd Smith President | OfficerTrustee | 1 | $0 |
Rusty Swan Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $432,353 |
| 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 | $432,353 |
| Total Program Service Revenue | $162,782 |
| Investment income | $442 |
| 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 | $595,577 |
| 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. | $147,513 |
| Compensation of current officers, directors, key employees. | $51,630 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,523 |
| Pension plan accruals and contributions | $7,186 |
| Other employee benefits | $9,746 |
| Payroll taxes | $67,031 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $38,776 |
| Office expenses | $4,669 |
| Information technology | $13,099 |
| Royalties | $0 |
| Occupancy | $1,915 |
| Travel | $24,397 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,095 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,007 |
| Insurance | $7,941 |
| All other expenses | $37,983 |
| Total functional expenses | $687,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,095 |
| Savings and temporary cash investments | $252,558 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,002 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,191 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,966 |
| Net Land, buildings, and equipment | $547,169 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,066,981 |
| Accounts payable and accrued expenses | $8,493 |
| 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 | $27,802 |
| Total liabilities | $36,295 |
| Net assets without donor restrictions | $1,030,686 |
| 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 | $1,066,981 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norton Sound Economic Development Corporation Anchorage, AK | $393,228,467 | $59,416,266 |
Bristol Bay Economic Development Corporation Dillingham, AK | $306,219,768 | $32,445,568 |
Juneau Economic Development Council Juneau, AK | $7,391,243 | $19,704,575 |
Alaska Cabaret Hotel Restaurant & Retailers Association Anchorage, AK | $1,951,463 | $11,915,981 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Visit Spokane Spokane, WA | $4,256,594 | $5,130,887 |
Spruce Root Inc Juneau, AK | $2,965,503 | $3,464,933 |
Angels For Angels Seattle, WA | $2,495,465 | $5,448,539 |
Koyuk Native Store Koyuk, AK | $1,287,215 | $2,898,870 |
Greater Seattle Partners Seattle, WA | $2,408,899 | $964,300 |
The Alliance For Pioneer Square Seattle, WA | $803,516 | $2,179,538 |