Civic Intelligence

Grant County Economic Growth Council Inc.

990 • Fiscal year 2015 • EIN 35-1589550

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 04, 2016

301 S Adams StreetMarion, IN 46952

(765) 662-0650

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.96x

Higher debt load relative to assets than 91% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

10.20x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

24th percentile

-3.1%

Higher net margin than 24% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

21st percentile

$96,762

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

98th percentile

137%

Faster asset growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

87th percentile

35%

Faster revenue growth than 87% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Up

$12,078,405

Up $11,457,535 (+1845%) from 2012

Net Assets

Down

$423,998

Down $186,147 (-31%) from 2012

Liabilities

Up

$11,654,407

Up $11,643,682 (+108566%) from 2012

Revenue

$1,142,644

No earlier filing loaded for comparison.

Expenses

Up

$1,178,135

Up $703,913 (+148%) from 2012

Net Income

-$35,491

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $876,000Liabilities 2011: $332,472Net Assets 2011: $543,5282011Assets 2012: $620,870Liabilities 2012: $10,725Net Assets 2012: $610,1452012Assets 2015: $12,078,405Liabilities 2015: $11,654,407Net Assets 2015: $423,9982015Assets 2016: $12,055,887Liabilities 2016: $11,644,913Net Assets 2016: $410,9742016Assets 2017: $11,835,011Liabilities 2017: $11,378,813Net Assets 2017: $456,1982017Assets 2018: $11,523,425Liabilities 2018: $11,058,010Net Assets 2018: $465,4152018Assets 2020: $10,974,716Liabilities 2020: $10,396,516Net Assets 2020: $578,2002020Assets 2021: $10,672,470Liabilities 2021: $10,035,749Net Assets 2021: $636,7212021Assets 2022: $10,211,072Liabilities 2022: $9,660,379Net Assets 2022: $550,6932022Assets 2024: $9,863,877Liabilities 2024: $8,850,000Net Assets 2024: $1,013,8772024

Highlighted filing

2015

Assets$12,078,405
Liabilities$11,654,407
Net Assets$423,998

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $463,7752011Expenses 2012: $474,2222012Revenue 2015: $1,142,644Expenses 2015: $1,178,135Net Income 2015: -$35,4912015Revenue 2016: $1,130,943Expenses 2016: $1,147,056Net Income 2016: -$16,1132016Revenue 2017: $1,118,550Expenses 2017: $1,070,480Net Income 2017: $48,0702017Revenue 2018: $1,115,925Expenses 2018: $1,099,669Net Income 2018: $16,2562018Revenue 2020: $1,084,258Expenses 2020: $950,155Net Income 2020: $134,1032020Revenue 2021: $949,837Expenses 2021: $956,322Net Income 2021: -$6,4852021Revenue 2022: $808,045Expenses 2022: $882,349Net Income 2022: -$74,3042022Revenue 2024: $1,227,769Expenses 2024: $859,496Net Income 2024: $368,2732024

Highlighted filing

2015

Revenue$1,142,644
Expenses$1,178,135
Net Income-$35,491
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 4, 2016
Return Version
2015v2.1
Gross Receipts
$1,142,644
Mission and Program Overview

Mission

The mission of grant county economic growth council is to facilitate investment and reinvestment for job retention and creation.

The grant county economic growth council improves the economic wealth of the community by attracting new businesses, by providing assistance for existing businesses to grow, by advancing entreprenuership and by actively engaging community leadership and enhancing communication.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$213,783$293,645▲ $79,862
Other Notes and Loans Receivable, Net$53,909$34,550▼ $19,359
Accounts Receivable$37,782$23,839▼ $13,943
Land, Buildings, and Equipment, Net$105,908$8,371▼ $97,537
Prepaid Expenses and Deferred Charges$1,286$6,420▲ $5,134
Total Assets$5,105,517$12,078,405▲ $6,972,888
Other Assets Total$4,692,849$11,711,580▲ $7,018,731
Liabilities
Unsecured Notes Loans Payable$11,630,000$11,630,000→ $0
Other Liabilities$264,582--
Accounts Payable and Accrued Expenses$37,967$24,407▼ $13,560
Total Liabilities$11,932,549$11,654,407▼ $278,142
Net Assets / Fund Balance
Permanently Rstr Net Assets$192,224$216,119▲ $23,895
Unrestricted Net Assets$-7,048,785$168,293▲ $7,217,078
Temporarily Rstr Net Assets$29,529$39,586▲ $10,057
Total Net Assets Fund Balance$-6,827,032$423,998▲ $7,251,030
Total Liabilities and Net Assets / Fund Balance$5,105,517$12,078,405▲ $6,972,888

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,371$27,773$36,144
Other Assets Org$550--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$94,061-▼ $3,839$6,500$81,030
2014$97,235-▲ $5,735$6,248$94,061
2013$84,367-▲ $21,098$5,875$97,235
2012$76,195$25▲ $13,397$5,250$84,367
2011$71,016$12,333▼ $2,000$5,154$76,195
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy EckerleExecutive DiFT$94,860$1,902$96,762

Board Members and Trustees

NameTitle
Karen TurnerPresident
Jack SciaudonePresident El
Aaron SnyderDirector
Adrienne RinesDirector
Ann VermilionDirector
Anne DuncanDirector
Brad CondonDirector
Dave AbernathyDirector
Dave LoerDirector
Eric GonzalesDirector
Jeffry AupperleDirector
Jim McwhirtDirector
Joselyn WhittickerDirector
Keith NewmanDirector
Kelly TurnerDirector
Mark BardsleyDirector
Mayor Larry LeachDirector
Mayor Wayne SeyboldDirector
Michelle BunkerDirector
Scott ShelleyDirector
Shane NeversDirector
Tade PowellDirector
Terry CheneyDirector
Tim StreetDirector
Whtiney Bowers PyleDirector
Larry TerwillegarEx Officio D
Steve ConradLeadership I
Scott MurphyPast Preside
Josh MatchetteTreasurer
Bill GartlandVP Resource
Scott AdamsVP Strategy
Revenue and Support

Revenue Composition

Contributions and Grants
$474,722
Program Service Revenue
$24,414
Investment Income
$643,393
Other Revenue
$115
All Other Contributions
$116,931
Change in Net Assets
$-35,491

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,141,874
Revenue Not Reported on Financial Statements
$770
Other Revenue Adjustments
$770
Total Revenue per Audited Statements
$1,141,874
Total Revenue per Form 990
$1,142,644
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$811,494
Grants and Similar Amounts Paid$185,953
Salaries, Compensation, and Employee Benefits$180,688
Total Fundraising Expense$17,964
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$634,998--$634,998
Current Officers, Directors, Trustees, and Key Employees$67,733$19,352$9,677$96,762
Grants to Domestic Orgs$95,499--$95,499
Grants to Domestic Individuals$90,454--$90,454
Other Salaries and Wages$56,049$5,611$3,741$65,401
Conferences and Meetings$23,389--$23,389
Travel$22,863--$22,863
Advertising$19,822--$19,822
Occupancy$11,461$2,301$1,238$15,000
Payroll Taxes$10,641$2,136$1,149$13,926
Office Expenses$10,107$754$406$11,267
Fees for Services Accounting-$10,868-$10,868
Depreciation Depletion$4,598$923$497$6,018
Information Technology-$5,908-$5,908
Insurance$3,503$997$537$5,037
Other Employee Benefits$3,636$617$346$4,599
Fees for Services Legal-$714-$714
Other Expenses$233$693$373$233
Total Functional Expenses$1,109,297$50,874$17,964$1,178,135

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,190,417
Expenses per Audited Statements$1,178,135
Total Expenses per Form 990$1,178,135
Expenses Not Reported on Form 990$12,282
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Redtail ConservancyMuncie, IN3Wetland Conservancy-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The 990 will be approved by the executive committee before filing.

Form 990, Page 6, Part VI, Line 12C

The organization regularly and consistently monitors and enforces the conflict of interest policy.

Form 990, Page 6, Part VI, Line 15A

The executive committee reviews and approves the executive director's compensation.

Form 990, Page 6, Part VI, Line 18

Irs form 990 for the last three years is posted on guidestar.org.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon request during regular business hours.

Filing and Contact Details

Filer

Filer Name
Grant County Economic Growth
EIN
35-1589550
Phone
7656620650
Address
301 S ADAMS STREET, MARION, IN 46952

Signing Officer

Name
Timothy Eckerle
Title
Executive Director
Phone
7656620650
Signed
2016-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Turner
Formed
1984
Legal Domicile
In
Voting Board Members
29
Independent Board Members
29
Employees
5
Volunteers
5,060

Preparer

Firm
Dulin Ward & Dewald Inc
Address
9921 DUPONT CIRCLE DR W 300, FORT WAYNE, IN 46825-1610
Preparer
J Nelson Coats CPA
Phone
2604232414
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The grant for grads project (the project) provides financial assistance to graduates of universities, colleges, or technical schools who agree to live and work in grant county. The project brings local business owners, realtors, and landlords together to reduce the cost of living for graduates working in the community. Grant for grads is an initiative of the grant county economic growth council that is administered by affordable housing & community development corporation. Together, these organizations are working to make grant county a better place to "live, work, play, and stay", as the program motto describes. The project provides employers with skilled workers, landlords with responsible and gainfully employed tenants, and realtors with a larger client base. Having an abundance of educated workers in the area also provides incentives to businesses looking to relocate or start up in grant county. During 2015 the growth council assisted 24 household individuals with the purchase of a home or rental assistance. These 24 households represented 1,300,000 of new household income to grant county and brought 9 new school age children to the community. The growth council has a revolving loan fund for local businesses in grant county to assist with acquisition and development of land; construction, repairs or modernization of buildings and equipment; and/or startup operating costs and working capital. The council currently loans funds to three grant county businesses. In 2015 loans were made for a coffee shop in upland and for a wireless internet service provider. The funds to the internet provicer allowed them to install fiber cables which linked a local school corporation's buildings to the internet. In 2014 the growth council launched grant's got talent a collaboration with ivy tech community college of indiana and workone northeast, indiana's workforce development group. The goal of grant's got talent is an initiative derived from a group of regional manufacturers and community leaders to address the skills gap manufacturers are encounter in potential employees in east-central indiana. The goal is to increase the employability of our residents and provide the industry with an employment pool of candidates that will help to increase their profitability and decrease turnover. In 2015 the growth council successfully secured a 250,000 grant from the indiana office of community and rural affairs allowing the program to expand its offering to include higher skilled industrial technology positions. Young entrepreneurs program celebrated its fifth year in 2015. The young entrepreneurs program is a ten week program for 30 high schools students developed and operated by the growth council. The program provides the students with exposure to local business leaders as they learn what it takes to create a successful business plan. The program culminates in a competition with the winning team members receiving college scholarships.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Support activities of the council

Schedule D, Page 4, Part XI, Line 4B

Realized gain netted with loss 770

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IRS990/Desc0GRANT COUNTY ECONOMIC GROWTH COUNCIL ENABLES THE CREATION AND RETENTION OF JOBS BY ATTRACTING NEW BUSINESSES TO GRANT COUNTY AND HELPING EXISTING GRANT COUNTY BUSINESSES EXPAND. IN 2015 THE GRANT COUNTY ECONOMIC GROWTH COUNCIL ASSISTED 33 FIRMS TO REINVEST IN GRANT COUNTY AS WELL AS ATTRACTED ONE NEW FIRM. THE GROWTH COUNCIL ALSO HOLDS APPROXIMATELY 42.5 ACRES OF LAND AND BUILDINGS IN THE CITY OF MARION, WHICH WERE PURCHASED IN 2013, FOR FUTURE REDEVELOPMENT. THE GRANT FOR GRADS PROJECT (THE PROJECT) PROVIDES FINANCIAL ASSISTANCE TO GRADUATES OF UNIVERSITIES, COLLEGES, OR TECHNICAL SCHOOLS WHO AGREE TO LIVE AND WORK IN GRANT COUNTY. THE PROJECT BRINGS LOCAL BUSINESS OWNERS, REALTORS, AND LANDLORDS TOGETHER TO REDUCE THE COST OF LIVING FOR GRADUATES WORKING IN THE COMMUNITY. GRANT FOR GRADS IS AN INITIATIVE OF THE GRANT COUNTY ECONOMIC GROWTH COUNCIL THAT IS ADMINISTERED BY AFFORDABLE HOUSING & COMMUNITY DEVELOPMENT CORPORATION. TOGETHER, THESE ORGANIZATIONS ARE WORKING TO MAKE GRANT COUNTY A BETTER PLACE TO "LIVE, WORK, PLAY, AND STAY", AS THE PROGRAM MOTTO DESCRIBES. THE PROJECT PROVIDES EMPLOYERS WITH SKILLED WORKERS, LANDLORDS WITH RESPONSIBLE AND GAINFULLY EMPLOYED TENANTS, AND REALTORS WITH A LARGER CLIENT BASE. HAVING AN ABUNDANCE OF EDUCATED WORKERS IN THE AREA ALSO PROVIDES INCENTIVES TO BUSINESSES LOOKING TO RELOCATE OR START UP IN GRANT COUNTY. DURING 2015 THE GROWTH COUNCIL ASSISTED 24 HOUSEHOLD INDIVIDUALS WITH THE PURCHASE OF A HOME OR RENTAL ASSISTANCE. THESE 24 HOUSEHOLDS REPRESENTED 1,300,000 OF NEW HOUSEHOLD INCOME TO GRANT COUNTY AND BROUGHT 9 NEW SCHOOL AGE CHILDREN TO THE COMMUNITY. THE GROWTH COUNCIL HAS A REVOLVING LOAN FUND FOR LOCAL BUSINESSES IN GRANT COUNTY TO ASSIST WITH ACQUISITION AND DEVELOPMENT OF LAND; CONSTRUCTION, REPAIRS OR MODERNIZATION OF BUILDINGS AND EQUIPMENT; AND/OR STARTUP OPERATING COSTS AND WORKING CAPITAL. THE COUNCIL CURRENTLY LOANS FUNDS TO THREE GRANT COUNTY BUSINESSES. IN 2015 LOANS WERE MADE FOR A COFFEE SHOP IN UPLAND AND FOR A WIRELESS INTERNET SERVICE PROVIDER. THE FUNDS TO THE INTERNET PROVICER ALLOWED THEM TO INSTALL FIBER CABLES WHICH LINKED A LOCAL SCHOOL CORPORATION'S BUILDINGS TO THE INTERNET. IN 2014 THE GROWTH COUNCIL LAUNCHED GRANT'S GOT TALENT A COLLABORATION WITH IVY TECH COMMUNITY COLLEGE OF INDIANA AND WORKONE NORTHEAST, INDIANA'S WORKFORCE DEVELOPMENT GROUP. THE GOAL OF GRANT'S GOT TALENT IS AN INITIATIVE DERIVED FROM A GROUP OF REGIONAL MANUFACTURERS AND COMMUNITY LEADERS TO ADDRESS THE SKILLS GAP MANUFACTURERS ARE ENCOUNTER IN POTENTIAL EMPLOYEES IN EAST-CENTRAL INDIANA. THE GOAL IS TO INCREASE THE EMPLOYABILITY OF OUR RESIDENTS AND PROVIDE THE INDUSTRY WITH AN EMPLOYMENT POOL OF CANDIDATES THAT WILL HELP TO INCREASE THEIR PROFITABILITY AND DECREASE TURNOVER. IN 2015 THE GROWTH COUNCIL SUCCESSFULLY SECURED A 250,000 GRANT FROM THE INDIANA OFFICE OF COMMUNITY AND RURAL AFFAIRS ALLOWING THE PROGRAM TO EXPAND ITS OFFERING TO INCLUDE HIGHER SKILLED INDUSTRIAL TECHNOLOGY POSITIONS. YOUNG ENTREPRENEURS PROGRAM CELEBRATED ITS FIFTH YEAR IN 2015. THE YOUNG ENTREPRENEURS PROGRAM IS A TEN WEEK PROGRAM FOR 30 HIGH SCHOOLS STUDENTS DEVELOPED AND OPERATED BY THE GROWTH COUNCIL. THE PROGRAM PROVIDES THE STUDENTS WITH EXPOSURE TO LOCAL BUSINESS LEADERS AS THEY LEARN WHAT IT TAKES TO CREATE A SUCCESSFUL BUSINESS PLAN. THE PROGRAM CULMINATES IN A COMPETITION WITH THE WINNING TEAM MEMBERS RECEIVING COLLEGE SCHOLARSHIPS.
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IRS990/Form990PartVIISectionAGrp/PersonNm23AARON SNYDER
IRS990/Form990PartVIISectionAGrp/PersonNm24TIM STREET
IRS990/Form990PartVIISectionAGrp/PersonNm25KAREN TURNER
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IRS990/Form990PartVIISectionAGrp/PersonNm30LARRY TERWILLEGAR
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IRS990/Form990PartVIISectionAGrp/TitleTxt0VP STRATEGY
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP RESOURCE
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17PAST PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT EL
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28LEADERSHIP I
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30EX OFFICIO D
IRS990/Form990PartVIISectionAGrp/TitleTxt31EXECUTIVE DI
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IRS990/FormationYr01984
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IRS990/OtherExpensesGrp/Desc0SPECIAL PROJECTS
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
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