Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1985.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
59 people listed on the 990; $162K paid to officers and key staff.
Ray Hexamer’s $194K as President & CEO is at the 64th 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 · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Ray Hexamer | $193,512 | $197,581 | $193,225 | $172,816 | $162,042 | $137,627 |
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.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Drives business growth and economic transformation in Stark County, Ohio, by attracting investments and connecting local businesses to funding sources.
Questions for Stark Economic Development Board INC
Your first name shows with your question. Stark Economic Development Board INC answers here, for everyone.
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The stark economic development board, inc. Is an organization whose purpose is to attract, expand and retain business investments in stark county, ohio. Sedb is a conduit to funding sources for businesses through the stark county port authority and as the local team NEO/JOBS ohio partner.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.5M | $2.4M |
| InvestmentsLn 11–13 | $16K | |
| Land, buildings, equipmentLn 10c | $226K | $227K |
| Total assetsLn 16 | $2.7M | $4.0M |
| LiabilitiesLn 26 | $183K | $56K |
| Net assetsLn 32 | $2.5M | $4.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $180K | $180K | ||
| Pay of current officers, directors and key staffLn 5 | $202K | $162K | $22K | $18K |
| Other salaries and wagesLn 7 | $436K | $364K | $36K | $36K |
| Pension plan contributionsLn 8 | $10K | $7K | $2K | $829 |
| Other employee benefitsLn 9 | $56K | $38K | $13K | $5K |
| Payroll taxesLn 10 | $37K | $31K | $3K | $3K |
| Legal feesLn 11b | $2K | $2K | ||
| Accounting feesLn 11c | $13K | $7K | $6K | |
| Other fees for servicesLn 11g | $84K | $83K | $1K | |
| Advertising and promotionLn 12 | $126K | $93K | $34K | |
| Office expensesLn 13 | $16K | $12K | $3K | |
| OccupancyLn 16 | $38K | $31K | $6K | |
| TravelLn 17 | $10K | $6K | $3K | |
| Conferences, conventions and meetingsLn 19 | $749 | $749 | ||
| Depreciation, depletion and amortizationLn 22 | $301 | $301 | ||
| InsuranceLn 23 | $11K | $8K | $2K | |
| Other expenses (24a–d)Ln 24 | $97K | $49K | $48K | |
| All other expensesLn 24e | $233 | $34 | $199 | |
| Total functional expensesLn 25 | $1.3M | $1.1M | $180K | $62K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $1.7M | $2.2M | −$477K | $3.6M | 990 PDF |
| FY2024 | $3.4M | $2.3M | $1.1M | $4.0M | 990 PDF |
| FY2023 | $1.2M | $1.8M | −$583K | $3.0M | 990 PDF |
| FY2022 | $873K | $1.3M | −$422K | $3.5M | 990 PDF |
| FY2021 Viewing | $2.8M | $1.3M | $1.5M | $4.0M | 990 PDF |
| FY2020 | $1.7M | $1.6M | $108K | $2.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $2,811,607 revenue, 12 lines filed
Part VI · Governance 58 of 58 board members independent, 1 to look at
Part VIII · Statement of revenue $2,811,607 across 9 lines filed
Part IX · Statement of functional expenses $1,318,996 across 18 lines filed
Part X · Balance sheet $4,016,090 assets, 15 lines filed
Part XI · Reconciliation of net assets $3,960,245 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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