Warren County Local Economic Development Organization INC

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Promote business in Warren County including workforce Development and progressive Local Development and provide low-interest loans for small business support.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 8 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $70K a year · 26% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$82K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
27 mo
of spending, in cash
Looks good: 26.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$469K
+47% vs prior year
Spent
$280K
To programs
0%
Net assets
$760K
By yearFY2020–FY2024
Revenue
$469K
FY2024▲ +47%
Tap a bar for its year
Revenue by fiscal year
FY2020$117K
FY2021$174K
FY2022$171K
FY2023$319K
FY2024$469K
Expenses
$280K
FY2024▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$75K
FY2021$147K
FY2022Not on file
FY2023$297K
FY2024$280K
Net assets
$760K
FY2024▲ +49%
Tap a bar for its year
Net assets by fiscal year
FY2020$505K
FY2021$532K
FY2022$487K
FY2023$511K
FY2024$760K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990; $82K paid to officers and key staff.

Part VII, Section A · reportable compensation
Former Execu
$49,038Pt VII · Sec A
Executive Di
$33,243Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Kara Dewlen’s $49K as Former Execu is at the 28th percentile of top reported officer pay among 1708 $100K–1M 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ben Dispennett$33,243$90,908$87,712$84,984$47,725
Kara Dewlen$49,038————

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 Warren County Local Economic Development Organization INC executive salaries →

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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 15aNo

Programs and updates

Supports local businesses with loans, workforce training, and development in Warren County.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Provide centralized coordination of business and expand infrastructure for the county. Attend and host meetings with local, regional, and state organizations. Administer revolving loan program for small businesses.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$469K
Ln 12
Gifts and grantsLn 1h$464K
Investment incomeLn 3$9K
Money outPt IX
$280K
Ln 25
Owns and owesPt X
$760K
net assets · Ln 32
Cash and savingsLn 1–2$626K
Total assetsLn 16$762K
LiabilitiesLn 26$2K
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$464K
Government grantsLn 1e$365K
Investment incomeLn 3$9K
Total revenueLn 12$469K
Assets in detailPt X, end of year
CashLn 1$22K
SavingsLn 2$604K
Cash and savings togetherLn 1–2$626K
Other assetsLn 15$50K
Total assetsLn 16$762K
LiabilitiesLn 26$2K
Net assetsLn 32$760K
OperationsPt I, VI
EmployeesI 54
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$503K$626K
Total assetsLn 16$513K$762K
LiabilitiesLn 26$3K$2K
Net assetsLn 32$511K$760K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K
Pay of current officers, directors and key staffLn 5$82K
Other salaries and wagesLn 7$5K
Payroll taxesLn 10$7K
Legal feesLn 11b$2K
Accounting feesLn 11c$3K
Other fees for servicesLn 11g$143K
Advertising and promotionLn 12$12K
Office expensesLn 13$1K
Information technologyLn 14$3K
OccupancyLn 16$8K
TravelLn 17$2K
Conferences, conventions and meetingsLn 19$1K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$2K
Total functional expensesLn 25$280K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $469K$280K$189K$760K 990 PDF
FY2023 $319K$297K$22K$511K 990 PDF
FY2022 $171K$487K 990 PDF
FY2021 $174K$147K$27K$532K 990 PDF
FY2020 $117K$75K$42K$505K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $468,935 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $313,234$464,500
I-9 Program service revenue$0
I-10 Investment incomePrior year $5,716$8,973
I-11 Other revenue−$4,538
I-12 Total revenuePrior year $318,950$468,935
I-13 Grants and similar amounts paidPrior year $18,500$5,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $107,955$94,857
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $170,068$180,376
I-18 Total expensesPrior year $296,523$280,233
I-19 Revenue less expensesPrior year $22,427$188,702
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $468,935 across 6 lines filed
VIII-1e Government grants$365,000
VIII-1f All other contributions, gifts and grants$99,500
VIII-1h Total contributions, gifts and grants$464,500
VIII-3 Investment incomeExcluded from tax $8,973$8,973
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$4,538−$4,538
VIII-12 Total revenueRelated to mission −$4,538 · Excluded from tax $8,973$468,935
Part IX · Statement of functional expenses $280,233 across 15 lines filed
IX-1 Grants to domestic organizations$5,000
IX-5 Pay of current officers, directors and key staff$82,281
IX-7 Other salaries and wages$5,284
IX-10 Payroll taxes$7,292
IX-11b Legal fees$1,778
IX-11c Accounting fees$3,404
IX-11g Other fees for services$143,198
IX-12 Advertising and promotion$11,760
IX-13 Office expenses$1,197
IX-14 Information technology$2,829
IX-16 Occupancy$8,134
IX-17 Travel$1,918
IX-19 Conferences, conventions and meetings$1,390
IX-23 Insurance$2,882
IX-24 Other expenses (24a–d)$1,886
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$280,233
Part X · Balance sheet $761,644 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $512$21,755
X-2 Savings and temporary cash investmentsStart of year $502,525$604,448
X-4 Accounts receivableStart of year $10,089$85,366
X-15 Other assets$50,075
X-16 Total assetsStart of year $513,126$761,644
X-17 Accounts payable and accrued expensesStart of year $2,502$1,704
X-26 Total liabilitiesStart of year $2,502$1,704
X-27 Net assets without donor restrictionsStart of year $348,728$458,188
X-28 Net assets with donor restrictionsStart of year $161,896$301,752
X-32 Total net assets or fund balancesStart of year $510,624$759,940
X-33 Total liabilities and net assetsStart of year $513,126$761,644
Part XI · Reconciliation of net assets $759,940 net assets at year end
XI-1 Total revenue$468,935
XI-2 Total expenses$280,233
XI-3 Revenue less expenses$188,702
XI-4 Net assets at start of year$510,624
XI-8 Prior period adjustments$60,614
XI-10 Net assets at end of year$759,940

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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