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Independence Council for Economic Development

Independence, MOUnknown exempt organizationEIN 43-1304196

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Stimulate Economic growth within the city of Independence mo

31¢ of each $1 spent went to programs.
$38K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $95K a year · 21% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
31%
of spending
Concern: 31% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$38K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$131K
-78% vs prior year
Spent
$236K
To programs
31%
Net assets
$108K
By yearFY2021–FY2023
Revenue
$131K
FY2023▼ -78%
Revenue by fiscal year
FY2021$634K
FY2022$590K
FY2023$131K
Expenses
$236K
FY2023▼ -39%
Expenses by fiscal year
FY2021$446K
FY2022$387K
FY2023$236K
Net assets
$108K
FY2023▼ -74%
Net assets by fiscal year
FY2021$216K
FY2022$419K
FY2023$108K

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

31 cents of each dollar spent went to programs.

Program services 31% · $74K Management & general 69% · $162K

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

27 people listed on the 990; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Danielle Dupree
Executive Dir Ennovation Cen
$37,500Pt VII · Sec A
Bob Glaser
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Finke
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Zach Walker
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Independence Council for Economic Development 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes economic growth within Independence, Missouri.

Provided by the organization

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2 program services account for $74K of program spending, described in the organization's own filed words · FY2022.
01

Operation of Ennovation Center at Facility

$72Kprogram expense
02

Stimulate economic growth within the City of Independence MO

$2Kprogram expense

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By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$131K
Ln 12
Fees for servicesLn 2g$159K
Investment incomeLn 3$25
Gifts and grantsLn 1h−$29K
Money outPt IX
$236K
Ln 25
Programscol B$74K
Managementcol C$162K
Owns and owesPt X
$108K
net assets · Ln 32
Cash and savingsLn 1–2$108K
Total assetsLn 16$108K
LiabilitiesLn 26$0
PeoplePt VI, VII
27
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h−$29K
Fees for servicesLn 2g$159K
Investment incomeLn 3$25
Total revenueLn 12$131K
Assets in detailPt X, end of year
SavingsLn 2$108K
Cash and savings togetherLn 1–2$108K
Total assetsLn 16$108K
LiabilitiesLn 26$0
Net assetsLn 32$108K
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$379K$108K
Total assetsLn 16$419K$108K
LiabilitiesLn 26$143$0
Net assetsLn 32$419K$108K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$102K$1K$101K
Other employee benefitsLn 9$12K$1K$10K
Payroll taxesLn 10$8K−$18$8K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$9K$760$9K
Office expensesLn 13$20K$10K$10K
OccupancyLn 16$4K$2K$2K
TravelLn 17$3K$1K$2K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$103$103
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$853$853
Other expenses (24a–d)Ln 24$19K$19K
All other expensesLn 24e$48K$37K$11K
Total functional expensesLn 25$236K$74K$162K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $131K$236K−$105K$108K 990 PDF
FY2022 $590K$387K$203K$419K 990 PDF
FY2021 $634K$446K$187K$216K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $130,789 across 6 lines filed
VIII-1b Membership dues−$28,685
VIII-1h Total contributions, gifts and grants−$28,685
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $159,152$159,152
VIII-3 Investment incomeRelated to mission $25$25
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $297$297
VIII-12 Total revenueRelated to mission $159,474 · Unrelated business $0 · Excluded from tax $0$130,789
Part IX · Statement of functional expenses $235,709 across 14 lines filed
IX-7 Other salaries and wagesPrograms $1,452 · Management $100,595$102,047
IX-9 Other employee benefitsPrograms $1,421 · Management $10,159$11,580
IX-10 Payroll taxesPrograms −$18 · Management $7,856$7,838
IX-11b Legal feesManagement $7,575$7,575
IX-11c Accounting feesPrograms $760 · Management $8,610$9,370
IX-13 Office expensesPrograms $9,605 · Management $10,217$19,822
IX-16 OccupancyPrograms $2,356 · Management $2,000$4,356
IX-17 TravelPrograms $1,236 · Management $1,500$2,736
IX-19 Conferences, conventions and meetingsManagement $1,437$1,437
IX-20 InterestManagement $103$103
IX-22 Depreciation, depletion and amortizationPrograms $1,270$1,270
IX-23 InsuranceManagement $853$853
IX-24 Other expenses (24a–d)Programs $18,755$18,755
IX-24e All other expensesPrograms $36,982 · Management $10,985$47,967
IX-25 Total functional expensesPrograms $73,819 · Management $161,890 · Fundraising $0$235,709
Part X · Balance sheet $107,901 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $378,781$107,901
X-16 Total assetsStart of year $418,902$107,901
X-26 Total liabilitiesStart of year $143$0
X-27 Net assets without donor restrictionsStart of year $418,759$107,901
X-32 Total net assets or fund balancesStart of year $418,759$107,901
X-33 Total liabilities and net assetsStart of year $418,902$107,901
Part XI · Reconciliation of net assets $107,901 net assets at year end
XI-1 Total revenue$130,789
XI-2 Total expenses$235,709
XI-3 Revenue less expenses−$104,920
XI-4 Net assets at start of year$418,759
XI-9 Other changes in net assets−$205,938
XI-10 Net assets at end of year$107,901

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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