Fremont County Economic Development Corp FY2020 filing

Not tax-deductible

Canon City, CO501(c)(6)Since 1976EIN 74-2251600Revenue $281K in FY2020

On file with the IRSfedc.co402 Valley Road, 81212-4176 · Canon City, COTax-exempt since Nov 1988

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To promote and assist in economic development for Fremont County, CO.

$72K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $43K a year · 11% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 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
$72K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$16K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
54
of 54 voting members
Looks good: 54 of 54 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$281K
Spent
$296K
To programs
0%
Net assets
$135K
By yearFY2020–FY2025
Revenue
$281K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$281K
FY2021$323K
FY2022$454K
FY2023$189K
FY2024$462K
FY2025$588K
Expenses
$296K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$296K
FY2021$263K
FY2022$354K
FY2023$314K
FY2024$338K
FY2025$477K
Net assets
$135K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$135K
FY2021$182K
FY2022$282K
FY2023$157K
FY2024$281K
FY2025$392K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1988.

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

Who runs it and what they're paid

4 people listed on the 990; $72K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$42,000Pt VII · Sec A
$30,025Pt VII · Sec A
Chairman of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Robert V Brown$42,000$42,000$42,000$42,000$42,000$42,000
Diana Armstrong—————$30,025

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 Fremont County Economic Development Corp 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 15aYes

Programs and updates

Boosts Fremont's economy through development initiatives.

Questions for Fremont County Economic Development Corp

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Provided by the organization

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1 program · in their own filed words · FY2020
01

To promote and assist in economic development of Fremont County, CO.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 13 grants · $200K · 2020–2022
Jumpstart DigitalFY2022$24,000
BlickelFY2022$15,600
Business with a Smile LLCFY2022$12,803
Two Rivers ConsultingFY2022$12,335
Royal Gorge Bridge & ParkFY2022$5,498
Cobalt AvenueFY2021$38,708
Two Rivers ConsultingFY2021$22,257
BlickelFY2021$15,600
Sage GoodwinFY2021$5,240
Sports Facility AdvisoryFY2020$17,500
Blickel-NowFY2020$15,600
Tiro CommunicationsFY2020$8,228
Cobalt Avenue LLCFY2020$6,985

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$281K
Ln 12
Gifts and grantsLn 1h$185K
Fees for servicesLn 2g$52K
Other incomeLn 4–11$45K
Money outPt IX
$296K
Ln 25
Owns and owesPt X
$135K
net assets · Ln 32
Cash and savingsLn 1–2$124K
Total assetsLn 16$151K
LiabilitiesLn 26$16K
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a54
IndependentVI 1b54
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$185K
Government grantsLn 1e$144K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$52K
Investment incomeLn 3$15
Other incomeLn 4–11$45K
Total revenueLn 12$281K
Assets in detailPt X, end of year
CashLn 1$124K
Cash and savings togetherLn 1–2$124K
Land, buildings, equipmentLn 10c$17K
Total assetsLn 16$151K
LiabilitiesLn 26$16K
Net assetsLn 32$135K
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
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 FY20End FY20
Cash and savingsLn 1–2$91K$124K
Land, buildings, equipmentLn 10c$17K$17K
Total assetsLn 16$155K$151K
LiabilitiesLn 26$6K$16K
Net assetsLn 32$149K$135K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$90K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$72K
Legal feesLn 11b$0
Accounting feesLn 11c$5K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$160
Office expensesLn 13$6K
Information technologyLn 14$3K
RoyaltiesLn 15$0
OccupancyLn 16$44K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$1K
Other expenses (24a–d)Ln 24$73K
Total functional expensesLn 25$296K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $588K$477K$111K$392K 990 PDF
FY2024 $462K$338K$124K$281K 990 PDF
FY2023 $189K$314K−$124K$157K 990 PDF
FY2022 $454K$354K$100K$282K 990 PDF
FY2021 $323K$263K$60K$182K 990 PDF
FY2020 Viewing $281K$296K−$15K$135K 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 FY2020 990 (6 parts)
Part I · Summary $281,295 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $104,770$184,547
I-9 Program service revenuePrior year $107,270$51,730
I-10 Investment incomePrior year $8$15
I-11 Other revenuePrior year −$1,156$45,003
I-12 Total revenuePrior year $210,892$281,295
I-13 Grants and similar amounts paidPrior year $0$90,092
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $185,838$205,842
I-18 Total expensesPrior year $185,838$295,934
I-19 Revenue less expensesPrior year $25,054−$14,639
Part VI · Governance 54 of 54 board members independent, 3 to look at
VI-1a Voting members of the governing body54
VI-1b Independent voting members54
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $281,295 across 13 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$38,885
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$144,362
VIII-1f All other contributions, gifts and grants$1,300
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$184,547
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $51,730 · Unrelated business $0 · Excluded from tax $0$51,730
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $15 · Excluded from tax $0$15
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $45,003 · Unrelated business $0 · Excluded from tax $0$45,003
VIII-12 Total revenueRelated to mission $96,733 · Unrelated business $15 · Excluded from tax $0$281,295
Part IX · Statement of functional expenses $295,934 across 30 lines filed
IX-1 Grants to domestic organizations$90,092
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$72,025
IX-11b Legal fees$0
IX-11c Accounting fees$4,806
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$160
IX-13 Office expenses$6,289
IX-14 Information technology$2,581
IX-15 Royalties$0
IX-16 Occupancy$43,599
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$2,051
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$1,400
IX-24 Other expenses (24a–d)$72,931
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$295,934
Part X · Balance sheet $151,060 assets, 8 lines filed
Asset lines not itemized here account for $10,022; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $91,326$123,607
X-4 Accounts receivableStart of year $971$497
X-10c Land, buildings and equipment, netStart of year $16,934$16,934
X-16 Total assetsStart of year $155,262$151,060
X-17 Accounts payable and accrued expensesStart of year $5,841$16,278
X-26 Total liabilitiesStart of year $5,841$16,278
X-32 Total net assets or fund balancesStart of year $149,421$134,782
X-33 Total liabilities and net assetsStart of year $155,262$151,060
Part XI · Reconciliation of net assets $134,782 net assets at year end
XI-1 Total revenue$281,295
XI-2 Total expenses$295,934
XI-3 Revenue less expenses−$14,639
XI-4 Net assets at start of year$149,421
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$134,782

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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