Klamath County Economic Development Association FY2024 filing

Not tax-deductible

Klamath Falls, OR501(c)(4)EIN 93-0654603Revenue $2.4M in FY2024

On file with the IRSteamklamath.com205 Riverside Dr Ste E, 97601-4203 · Klamath Falls, ORTax-exempt since Aug 1976

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The organization's mission is to promote new and existing business Development in southern oregon.

78¢ of each $1 spent went to programs.
$188K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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 $238K a year · 18% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$188K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
19 mo
of spending, in cash
Looks good: 19.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$754K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
41
of 42 voting members
Looks good: 41 of 42 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+198% vs prior year
Spent
$1.3M
To programs
78%
Net assets
$2.3M
By yearFY2020–FY2025
Revenue
$2.4M
FY2024▲ +198%
Tap a bar for its year
Revenue by fiscal year
FY2020$637K
FY2021$553K
FY2022$1.7M
FY2023$789K
FY2024$2.4M
FY2025$1.8M
Expenses
$1.3M
FY2024▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$468K
FY2021$457K
FY2022$963K
FY2023$1.0M
FY2024$1.3M
FY2025$2.2M
Net assets
$2.3M
FY2024▲ +84%
Tap a bar for its year
Net assets by fiscal year
FY2020$625K
FY2021$720K
FY2022$1.5M
FY2023$1.2M
FY2024$2.3M
FY2025$1.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1976.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $1.0M Management & general 20% · $258K Fundraising 2% · $32K

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

39 people listed on the 990; $188K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Manager/Officer
$187,932Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022
Randy Cox$222,492$187,932$200,661$178,509

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 Klamath County Economic Development Association 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

Promotes economic growth in Klamath County, Oregon, by supporting new and existing businesses to foster local development.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2023
01

Promote economic development in new and existing industries in klamath county, oregon

$1.0Mprogram expense

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 · 6 grants · $3.0M · 2021–2024
Gilchrist Forest ProductsFY2024$700,000
Gilchrist Forest ProductsFY2023$730,000
Oregon Tech Foundation INCOR · FY2021$180,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$2.3M
Other incomeLn 4–11$35K
Investment incomeLn 3$28K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$258K
Fundraisingcol D$32K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$3.0M
LiabilitiesLn 26$754K
PeoplePt VI, VII
39
listed · VII A
PaidVII A1
Voting boardVI 1a42
IndependentVI 1b41
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Government grantsLn 1e$1.5M
Fundraising eventsLn 1c$60K
Investment incomeLn 3$28K
Other incomeLn 4–11$35K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$715K
Cash and savings togetherLn 1–2$2.1M
InvestmentsLn 11–13$912K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$20K
Total assetsLn 16$3.0M
LiabilitiesLn 26$754K
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderJune
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$1.0M$2.1M
InvestmentsLn 11–13$876K$912K
Land, buildings, equipmentLn 10c$1K$1K
Total assetsLn 16$2.0M$3.0M
LiabilitiesLn 26$755K$754K
Net assetsLn 32$1.2M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$730K$730K
Pay of current officers, directors and key staffLn 5$208K$208K
Other salaries and wagesLn 7$188K$169K$19K
Payroll taxesLn 10$28K$25K$3K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$10K$9K$939
Advertising and promotionLn 12$68K$36K$32K
Office expensesLn 13$21K$19K$2K
OccupancyLn 16$16K$15K$2K
TravelLn 17$3K$2K$263
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$53$53
InsuranceLn 23$5K$4K$456
Other expenses (24a–d)Ln 24$9K$7K$2K
All other expensesLn 24e$424$424
Total functional expensesLn 25$1.3M$1.0M$258K$32K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.8M$2.2M−$406K$1.9M 990 PDF
FY2024 Viewing $2.4M$1.3M$1.0M$2.3M 990 PDF
FY2023 $789K$1.0M−$215K$1.2M 990 PDF
FY2022 $1.7M$963K$740K$1.5M 990 PDF
FY2021 $553K$457K$96K$720K 990 PDF
FY2020 $637K$468K$169K$625K 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 FY2024 990 (6 parts)
Part I · Summary $2,351,160 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $753,307$2,287,600
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $8,362$28,127
I-11 Other revenuePrior year $27,196$35,433
I-12 Total revenuePrior year $788,865$2,351,160
I-13 Grants and similar amounts paidPrior year $225,000$730,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $375,444$424,046
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $403,652$151,911
I-18 Total expensesPrior year $1,004,096$1,305,957
I-19 Revenue less expensesPrior year −$215,231$1,045,203
Part VI · Governance 41 of 42 board members independent, 4 to look at
VI-1a Voting members of the governing body42
VI-1b Independent voting members41
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 $2,351,160 across 9 lines filed
VIII-1b Membership dues$242,250
VIII-1c Fundraising events$59,873
VIII-1e Government grants$1,500,000
VIII-1f All other contributions, gifts and grants$485,477
VIII-1h Total contributions, gifts and grants$2,287,600
VIII-3 Investment incomeExcluded from tax $28,127$28,127
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,433$35,433
VIII-12 Total revenueRelated to mission $35,433 · Unrelated business $0 · Excluded from tax $28,127$2,351,160
Part IX · Statement of functional expenses $1,305,957 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $730,000$730,000
IX-5 Pay of current officers, directors and key staffManagement $208,244$208,244
IX-7 Other salaries and wagesPrograms $169,015 · Management $18,779$187,794
IX-10 Payroll taxesPrograms $25,207 · Management $2,801$28,008
IX-11c Accounting feesManagement $13,475$13,475
IX-11g Other fees for servicesPrograms $8,586 · Management $939$9,525
IX-12 Advertising and promotionPrograms $35,715 · Fundraising $32,011$67,726
IX-13 Office expensesPrograms $18,783 · Management $2,087$20,870
IX-16 OccupancyPrograms $14,730 · Management $1,637$16,367
IX-17 TravelPrograms $2,369 · Management $263$2,632
IX-20 InterestManagement $7,490$7,490
IX-22 Depreciation, depletion and amortizationManagement $53$53
IX-23 InsurancePrograms $4,103 · Management $456$4,559
IX-24 Other expenses (24a–d)Programs $7,126 · Management $1,664$8,790
IX-24e All other expensesPrograms $424$424
IX-25 Total functional expensesPrograms $1,016,058 · Management $257,888 · Fundraising $32,011$1,305,957
Part X · Balance sheet $3,044,118 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $734,643$1,353,868
X-2 Savings and temporary cash investmentsStart of year $305,747$715,177
X-4 Accounts receivableStart of year $31,860$42,250
X-10c Land, buildings and equipment, netStart of year $1,106$1,053
X-13 Program-related investmentsStart of year $876,337$911,770
X-15 Other assetsStart of year $50,000$20,000
X-16 Total assetsStart of year $1,999,693$3,044,118
X-25 Other liabilitiesStart of year $754,717$753,940
X-26 Total liabilitiesStart of year $754,717$753,940
X-27 Net assets without donor restrictionsStart of year $1,244,976$1,520,178
X-28 Net assets with donor restrictions$770,000
X-32 Total net assets or fund balancesStart of year $1,244,976$2,290,178
X-33 Total liabilities and net assetsStart of year $1,999,693$3,044,118
Part XI · Reconciliation of net assets $2,290,178 net assets at year end
XI-1 Total revenue$2,351,160
XI-2 Total expenses$1,305,957
XI-3 Revenue less expenses$1,045,203
XI-4 Net assets at start of year$1,244,976
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,290,178

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

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