Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1982.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
81 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
16 people listed on the 990.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2021 | FY2020 |
|---|---|---|---|
| Rob Sparks | $120,330 | $114,200 | $112,600 |
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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promotes job growth and economic diversity by developing industrial parks and assisting businesses in Indiana.
Questions for Madison County Economic Development INC
Your first name shows with your question. Madison County Economic Development INC answers here, for everyone.
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In 2022, we received 180 new project submissions for madison county and achieved 6 project successes, creating more than 240 new jobs and more than $550 million of investment. Of these successes, 1 was a new attraction to madison county, and 5 were expansions of existing companies.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $195K | $131K |
| InvestmentsLn 11–13 | $254K | $254K |
| Land, buildings, equipmentLn 10c | $4K | $3K |
| Total assetsLn 16 | $453K | $388K |
| LiabilitiesLn 26 | $4K | $4K |
| Net assetsLn 32 | $449K | $384K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $117K | $94K | $12K | $12K |
| Other salaries and wagesLn 7 | $59K | $29K | $23K | $6K |
| Pension plan contributionsLn 8 | $17K | $12K | $3K | $2K |
| Payroll taxesLn 10 | $14K | $9K | $3K | $1K |
| Legal feesLn 11b | $116K | $116K | ||
| Accounting feesLn 11c | $4K | $2K | $2K | |
| Advertising and promotionLn 12 | $5K | $4K | $475 | |
| Office expensesLn 13 | $2K | $614 | $1K | $614 |
| Information technologyLn 14 | $7K | $3K | $686 | $3K |
| OccupancyLn 16 | $11K | $9K | $2K | |
| TravelLn 17 | $11K | $11K | ||
| Depreciation, depletion and amortizationLn 22 | $619 | $495 | $124 | |
| InsuranceLn 23 | $5K | $4K | $1K | |
| Other expenses (24a–d)Ln 24 | $15K | $15K | ||
| Total functional expensesLn 25 | $382K | $309K | $49K | $25K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $526K | $620K | −$95K | $289K | 990 PDF |
| FY2023 | $435K | $436K | −$579 | $383K | 990 PDF |
| FY2022 Viewing | $317K | $382K | −$65K | $384K | 990 PDF |
| FY2021 | $373K | $271K | $102K | $449K | 990 PDF |
| FY2020 | $332K | $281K | $51K | $348K | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $316,900 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, no flags
Part VIII · Statement of revenue $316,900 across 4 lines filed
Part IX · Statement of functional expenses $382,175 across 14 lines filed
Part X · Balance sheet $388,302 assets, 10 lines filed
Part XI · Reconciliation of net assets $384,010 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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