Lincoln County Economic Development Foundation EIN 48-1207971 Form 990 (PDF) Claim this org

Lincoln County Economic Development Foundation

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Promotes and supports economic growth in Lincoln County, Kansas. For fiscal year 2024 it reported $178K in revenue, $220K in expenses, and $706K in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Lincoln, KS
Website
www.livelincolncounty.com
Filings
5 on file (2020–2024)
Revenue
$178KFY2024
Expenses
$220K
Net assets
$706K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  48-1207971 Public charity (501(c)(3)) Lincoln, KS
Form 990 (PDF)
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Size
$100K–1M
What they do
Promotes and supports economic growth in Lincoln County, Kansas.
Leadership
Kelly Gourley · Director · $63K
Money in and out
$178K revenue, $220K expenses
Bottom line
78% program efficiency
Where the money goes · FY2024
Total revenue
$178K
Pt VIII · Ln 12
Total expenses
$220K
Pt IX · Ln 25
Net assets
$706K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$42K
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.22
Program efficiency
78%
of spending reaches programs▲ +96% vs prior filing year
Operating runway
26.7mo
months of highly liquid reserves at operating expense rate▼ -7% vs prior filing year
Surplus margin
-24%
revenue over expenses, this year▼ -115% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$178K
FY2024▼ -20%
Expenses
$220K
FY2024▼ -11%
Total assets
$764K
FY2024▼ -7%
Total liabilities
$58K
FY2024▼ -18%
Total revenue
$178K
Pt VIII · Ln 12
Total expenses
$220K
Pt IX · Ln 25
Net assets
$706K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$42K
Total assetsPt X · Ln 16$764K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLincoln County Economic Development Foundation
EINHdr · item D48-1207971
Principal addressHdr · item CLincoln, KS
WebsiteHdr · item Jwww.livelincolncounty.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFJul 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$63,304Pt VII · Sec A
Secretary
$22,032Pt VII · Sec A
President & CEO
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A

Kelly Gourley’s $63K as Director is at the 41st percentile of top reported officer pay among 1711 $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

NameFY2024FY2023FY2022FY2021
Kelly Gourley$63,304$61,163$59,095$56,822
Kris Heinze$22,032

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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Mission & Programs · Part III

Where the work happens

3 program services account for $165K of program spending, described in the organization's own filed words · FY2024.
01

Percentage allocation of general expenses

$88Kprogram expense
02

Administer seed and placemaking grant processes and work

$44Kprogram expense
03

Other program services

$33Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$144K · 81%
Program service revenue$28K · 16%
Investment income$6K · 3%
Contributions & grants81%$144K
Program service revenue16%$28K
Investment income3%$6K
— government grantsLn 1e$139K
Total revenueLn 12$178K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.22
Program services78%$171K
Management & general22%$48K
Total functional expensesLn 25$220K

Balance Sheet

Part X · end of year
CashLn 1$489K
Total assetsLn 16$764K
Total liabilitiesLn 26$58K
Total net assetsLn 32$706K
Months of cash on handcomputed26.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $489K · Operating expenses/yr $220K
26.7 months
Where the money goes
Program services
Program services $171K · Total expenses $220K
78%
Management & General
Management & general $48K · Total expenses $220K
22%
Fundraising
Fundraising $0 · Total expenses $220K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $14K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $144K · Total revenue $178K
81%
Government reliance
Government grants $139K · Total revenue $178K
78%
Earned-income share
Program service revenue $28K · Total revenue $178K
16%
Investment reliance
Investment income $6K · Total revenue $178K
+3%
Program self-sufficiency
Program service revenue $28K · Total expenses $220K
13%
Growth & trend
Revenue growth (YoY)
This year $178K · Prior year $223K
-20%
Revenue CAGR
FY2020 $162K · FY2024 $178K
+2%
Net-asset trend (YoY)
End of year $706K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $178K · Expenses $220K
-24%
Liabilities-to-Assets
Total liabilities — · Total assets $764K
Net-asset ratio
Net assets $706K · Total assets $764K
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $764K
0%
People & payroll
Highest Reported Total Compensation
Individual Kelly Gourley · Reported title Director · Highest reported compensation $63K · Total expenses $220K
29%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $118K · Total expenses $220K
54%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 22%
Fundraising cost ratio 0%
Revenue growth -20%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 0%

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.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$10K
Grants paid · 2 grants · $26K · 2022–2024
Unitemized GrantFY2024$15,500
Make My Moveremote Worker GrFY2022$10,600

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$178K revenue · viewing · ⤓ 990 PDF
FY2023$223K revenue · ⤓ 990 PDF
FY2022$190K revenue · ⤓ 990 PDF
FY2021$206K revenue · ⤓ 990 PDF
FY2020$162K revenue · ⤓ 990 PDF

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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
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