Lee's Summit Economic Development Council

Lees Summit, MO · Membership association · Since 1985

! Not tax-deductible
Revenue
$402K
+315% vs prior year
Spent
$264K
To programs
70%
Net assets
$349K
By yearFY2020–FY2024
Revenue
$402K
FY2024▲ +315%
Revenue by fiscal year
FY2020$641K
FY2021$600K
FY2022$524K
FY2023$306K
FY2024$97K
FY2024$402K
Expenses
$264K
FY2024▲ +30%
Expenses by fiscal year
FY2020$567K
FY2021$545K
FY2022$585K
FY2023$446K
FY2024$202K
FY2024$264K
Net assets
$349K
FY2024▲ +65%
Net assets by fiscal year
FY2020$468K
FY2021$522K
FY2022$460K
FY2023$318K
FY2024$212K
FY2024$349K

From the FY2024 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CLee's Summit Economic Development Council
EINHdr · item D43-1386718
Exempt statusHdr · item I501(c)(4) · active
Ruling yearIRS BMFSep 1986
Year of formationHdr · item L1985
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CLees Summit, MO
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.leessummit.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.27 Fundraising $0.03
Program services70%$184K
Management & general27%$71K
Fundraising3%$9K
Total functional expensesLn 25$264K

Financial health

Is it on solid ground?

Operating surplus
+34%
revenue over expenses▲ +132% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
56%
of spending is salaries & benefits▲ +15% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$352K
FY2024▲ +65%
Total assets by fiscal year
FY2020$594K
FY2021$648K
FY2022$574K
FY2023$392K
FY2024$214K
FY2024$352K
Total liabilities
$3K
FY2024▲ +31%
Total liabilities by fiscal year
FY2020$125K
FY2021$126K
FY2022$114K
FY2023$73K
FY2024$2K
FY2024$3K
Revenue less expensesPt I · Ln 19$138K
Total assetsPt X · Ln 16$352K
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Balance Sheet

Part X · end of year
CashLn 1$323K
Total assetsLn 16$352K
Total liabilitiesLn 26$3K
Total net assetsLn 32$349K
Months of cash on handcomputed14.7

Statement of Revenue

Part VIII
Contributions & grants$393K · 98%
Investment income$8K · 2%
Contributions & grants98%$393K
Investment income2%$8K
Other revenue$950
— government grantsLn 1e$200K
Total revenueLn 12$402K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $323K · Operating expenses (Pt IX) $264K · Less non-cash grants $11K · Cash operating expenses/yr $253K
15.3 months
Where the money goes
Program services
Program services $184K · Total expenses $264K
70%
Management & General
Management & general $71K · Total expenses $264K
27%
Fundraising
Fundraising $9K · Total expenses $264K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $11K · Solicited contributions (3-yr avg) $185K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $393K · Total revenue $402K
98%
Government reliance
Government grants $200K · Total revenue $402K
50%
Earned-income share
Program service revenue $0 · Total revenue $402K
0%
Investment reliance
Investment income $8K · Total revenue $402K
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $264K
0%
Growth & trend
Revenue growth (YoY)
This year $402K · Prior year $97K
+315%
Revenue CAGR
FY2019 $641K · FY2024 $402K
-9%
Net-asset trend (YoY)
End of year $349K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $402K · Expenses $264K
+34%
Liabilities-to-Assets
Total liabilities — · Total assets $352K
—
Net-asset ratio
Net assets $349K · Total assets $352K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $352K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Bill Baird · Reported title CITY MAYOR · Highest reported compensation $0 · Total expenses $264K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $147K · Total expenses $264K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%——
Overhead ratio 27%——
Fundraising cost ratio 2%——
Revenue growth 315%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
City Mayor
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Lsr7 Superin
$0Pt VII · Sec A
McC Longview
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Ucm Presiden
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Rick McDowell$175,763$160,428$142,476$139,917

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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Governance & Policies

Part VI
  • 16Voting board membersPt VI · Ln 1a
  • 16Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Fosters economic innovation and growth by promoting a pro-business environment and strong community relationships.

Provided by the organization

This section is blank until Lee's Summit Economic Development Council claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $184K of program spending, described in the organization's own filed words · FY2024.
01

Business Retention and Expansion

Work with local employers to act as their ombudsman to help resolve problems and to grow their businesses.

$104Kprogram expense
02

Community Product Development

As a trusted, neutral advisor, promote a pro-business environment and civic dialogue by collaborating with public and private sector stakeholders to improve the quality of life in lee's summit.

$45Kprogram expense
03

Community Image Enhancement

Publicize and merchandise lee's summit to keep the community at the top of opinion and decision makers' minds. Target industry attraction - work with investors, community partners and allies to attract investment and higher paying jobs that contribute to the tax base.

$35Kprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $97K$202K-68% 990 PDF
FY2023 $306K$446K-42% 990 PDF
FY2022 $524K$585K-13% 990 PDF
FY2021 $600K$545K-6% 990 PDF
FY2020 $641K$567K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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