Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1986.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
89 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
11 people listed on the 990; $90K paid to officers and key staff (Part VII, Section A).
Cody Morrison’s $91K as Executive Director is at the 15th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cody Morrison | $91,196 | $90,500 | $90,500 | — | — |
| Arthur Robert | — | — | — | $7,554 | $79,681 |
| Steve Fortier | — | — | — | $52,900 | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Monadnock Economic Development Corporation executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Attracts and supports businesses to grow and move to New Hampshire's Monadnock Region.
Questions for Monadnock Economic Development Corporation
Your first name shows with your question. Monadnock Economic Development Corporation answers here, for everyone.
Promoting of business development and relocations to the monadnock region of new hampshire.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
The auditor reported 1 finding: doubt the group can keep going, a material weakness in money controls, questioned costs.
The auditor reported no findings.
The auditor reported 1 finding: a weakness in money controls.
The auditor reported 1 finding: a weakness in money controls.
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.8M | $1.8M |
| Land, buildings, equipmentLn 10c | $27.7M | $21.9M |
| Total assetsLn 16 | $41.5M | $35.8M |
| LiabilitiesLn 26 | $43.9M | $35.3M |
| Net assetsLn 32 | −$2.5M | $582K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $98K | $98K | ||
| Other salaries and wagesLn 7 | $20K | $20K | ||
| Payroll taxesLn 10 | $10K | $10K | ||
| Legal feesLn 11b | $1K | $1K | ||
| Accounting feesLn 11c | $54K | $54K | ||
| Other fees for servicesLn 11g | $105K | $105K | ||
| Advertising and promotionLn 12 | $13K | $13K | ||
| Office expensesLn 13 | $367 | $367 | ||
| OccupancyLn 16 | $5K | $1K | $3K | |
| Conferences, conventions and meetingsLn 19 | $2K | $2K | ||
| InterestLn 20 | $660K | $660K | ||
| Depreciation, depletion and amortizationLn 22 | $990K | $987K | $3K | |
| InsuranceLn 23 | $27K | $27K | ||
| Other expenses (24a–d)Ln 24 | $229K | $219K | $9K | |
| All other expensesLn 24e | $4K | $217 | $3K | |
| Total functional expensesLn 25 | $2.2M | $2.0M | $243K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS May 14, 2026 | $3.2M | $3.6M | −$384K | $198K | 990 PDF |
| FY2024 ViewingFiled with the IRS May 14, 2025 | $5.3M | $2.2M | $3.1M | $582K | 990 PDF |
| FY2023Filed with the IRS May 9, 2024 | $1.7M | $2.2M | −$503K | −$2.5M | 990 PDF |
| FY2022Filed with the IRS May 10, 2023 | $1.9M | $2.4M | −$492K | −$2.0M | 990 PDF |
| FY2021Filed with the IRS May 13, 2022 | $2.5M | $3.1M | −$553K | −$1.5M | 990 PDF |
| FY2020Filed with the IRS Feb 9, 2021 | $1.8M | $3.7M | −$1.8M | −$933K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $5,279,361 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, no flags
Part VIII · Statement of revenue $5,279,361 across 7 lines filed
Part IX · Statement of functional expenses $2,216,838 across 15 lines filed
Part X · Balance sheet $35,848,860 assets, 16 lines filed
Part XI · Reconciliation of net assets $581,619 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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