Linn Economic Development Group EIN 93-0814440 Form 990 (PDF) Claim this org

Linn Economic Development Group

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Fosters a healthy economy in the Linn County area by assisting businesses, attracting new industries, and supporting regional programs. For fiscal year 2025 it reported $129K in revenue, $125K in expenses, and $26K in net assets.Pt I

Type
Membership association · Nonprofit
Location
Albany, OR
Website
www.albany-millersburg.com
Filings
6 on file (2020–2025)
Revenue
$129KFY2025
Expenses
$125K
Net assets
$26K
People
23
Filings
6
Updates
0
More identity details & actions ⌄
EIN  93-0814440 Membership association Albany, OR
Form 990 (PDF)
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Size
$100K–1M
What they do
Fosters a healthy economy in the Linn County area by assisting businesses, attracting new industries, and supporting regional programs.
Leadership
John Pascone · President · $100K
Money in and out
$129K revenue, $125K expenses
Bottom line
+3% operating surplus
Membership & operating revenue · FY2025
Total revenue
$129K
Pt VIII · Ln 12
Total expenses
$125K
Pt IX · Ln 25
Net assets
$26K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4K
Where spending went · Part IX cols B–D
Program services $1.00
Operating surplus
+3%
revenue over expenses▲ +60% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
88%
of spending is salaries & benefits▲ +311% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$129K
FY2025▼ -75%
Expenses
$125K
FY2025▼ -75%
Total assets
$28K
FY2025▲ +18%
Total liabilities
$3K
FY2025▲ +3%
Total revenue
$129K
Pt VIII · Ln 12
Total expenses
$125K
Pt IX · Ln 25
Net assets
$26K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4K
Total assetsPt X · Ln 16$28K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 419

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLinn Economic Development Group
EINHdr · item D93-0814440
Principal addressHdr · item CAlbany, OR
WebsiteHdr · item Jwww.albany-millersburg.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOR
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFDec 1982

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a19
Independent voting membersPt VI · Ln 1b19
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$99,800Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$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

NameFY2025FY2024FY2023FY2022FY2021FY2020
John Pascone$99,800$98,400$98,400$94,000$94,000$94,000

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

1 program service account for $125K of program spending, described in the organization's own filed words · FY2024.
01

To foster a healthy and viable economy in the albany, millersburg and linn county area. Objectives include:- assist in the development, retention, and expansion of linn county area businesses;- improve the opportunity for business success;- enhance the economic base by siting new targeted industries- support and assist in regional and…

$125Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$128K · 99%
Other revenue$823 · 1%
Contributions & grants99%$128K
Other revenue1%$823
Investment income$21
— government grantsLn 1e$120K
Total revenueLn 12$129K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$125K
Total functional expensesLn 25$125K

Balance Sheet

Part X · end of year
CashLn 1$28K
Total assetsLn 16$28K
Total liabilitiesLn 26$3K
Total net assetsLn 32$26K
Months of cash on handcomputed2.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $28K · Operating expenses/yr $125K
2.7 months
Where the money goes
Program services
Program services $125K · Total expenses $125K
100%
Management & General
Management & general $0 · Total expenses $125K
0%
Fundraising
Fundraising $0 · Total expenses $125K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $10K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $128K · Total revenue $129K
99%
Government reliance
Government grants $120K · Total revenue $129K
93%
Earned-income share
Program service revenue $0 · Total revenue $129K
0%
Investment reliance
Investment income $21 · Total revenue $129K
+0.02%
Program self-sufficiency
Program service revenue $0 · Total expenses $125K
0%
Growth & trend
Revenue growth (YoY)
This year $129K · Prior year $511K
-75%
Revenue CAGR
FY2019 $141K · FY2024 $129K
-2%
Net-asset trend (YoY)
End of year $26K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $129K · Expenses $125K
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $28K
Net-asset ratio
Net assets $26K · Total assets $28K
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $28K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual John Pascone · Reported title PRESIDENT · Highest reported compensation $100K · Total expenses $125K
80%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $110K · Total expenses $125K
88%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth -75%
Accounting fee ratio 2%

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 · this organization's grantmaking
Grants paid · 3 grants · $28.6M · 2021–2023
MvicOR · FY2023$380,000
MvicOR · FY2022$1,347,778
LedgOR · FY2021$26,842,840

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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
FY2025 (Latest)$129K revenue · viewing · ⤓ 990 PDF
FY2024$511K revenue · ⤓ 990 PDF
FY2023$2.0M revenue · ⤓ 990 PDF
FY2022$20.6M revenue · ⤓ 990 PDF
FY2021$14.9M revenue · ⤓ 990 PDF
FY2020$141K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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