Civic Intelligence

Greater Laporte Economic Development Corporation

990 • Fiscal year 2020 • EIN 35-2146258

Jan 01, 2020 to Dec 31, 2020 • Filed on May 28, 2021

Organization ProfileWWW.GLEDC.COM
809 Washington Street Rm/Ste ALaporte, IN 46350

(219) 324-8584

Siviq Scores

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

Liabilities / Assets

39th percentile

0.01x

Higher debt load relative to assets than 39% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

42nd percentile

0.02x

Higher debt load relative to revenue than 42% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

77th percentile

27%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets39th percentile

Assets

$916,391

No earlier filing loaded for comparison.

Net Assets

$906,448

No earlier filing loaded for comparison.

Liabilities

$9,943

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin77th percentile

Revenue

$403,711

No earlier filing loaded for comparison.

Expenses

$295,264

No earlier filing loaded for comparison.

Net Income

$108,447

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2020: $916,391Liabilities 2020: $9,943Net Assets 2020: $906,4482020Assets 2021: $1,054,507Liabilities 2021: $106,144Net Assets 2021: $948,3632021Assets 2022: $1,065,289Liabilities 2022: $179,624Net Assets 2022: $885,6652022Assets 2023: $1,003,787Liabilities 2023: $108,577Net Assets 2023: $895,2102023Assets 2024: $950,289Liabilities 2024: $32,047Net Assets 2024: $918,2422024

Highlighted filing

2020

Assets$916,391
Liabilities$9,943
Net Assets$906,448
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KRevenue 2020: $403,711Expenses 2020: $295,264Net Income 2020: $108,4472020Revenue 2021: $320,018Expenses 2021: $278,103Net Income 2021: $41,9152021Revenue 2022: $197,789Expenses 2022: $260,487Net Income 2022: -$62,6982022Revenue 2023: $266,999Expenses 2023: $257,454Net Income 2023: $9,5452023Revenue 2024: $287,633Expenses 2024: $264,601Net Income 2024: $23,0322024

Highlighted filing

2020

Revenue$403,711
Expenses$295,264
Net Income$108,447
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 28, 2021
Return Version
2020v4.0
Gross Receipts
$403,711
Mission and Program Overview

Mission

To recruit new business and industry into the laporte county area and combat community deterioration by promoting stability, growth, and development of business and industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$710,843$761,764▲ $50,921
Cash and Non-Interest-Bearing Accounts$96,886$153,713▲ $56,827
Savings and Temporary Cash Investments$7,542--
Prepaid Expenses and Deferred Charges$4,211--
Land, Buildings, and Equipment, Net$1,815$914▼ $901
Total Assets$821,297$916,391▲ $95,094
Liabilities
Other Liabilities$17,463$9,943▼ $7,520
Accounts Payable and Accrued Expenses$5,833--
Total Liabilities$23,296$9,943▼ $13,353
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$798,001$906,448▲ $108,447
Total Net Assets Fund Balance$798,001$906,448▲ $108,447
Total Liabilities and Net Assets / Fund Balance$821,297$916,391▲ $95,094

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$914$26,345$27,259
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Laura FrancesconiChairman
Mayor Tom DermodyChairman Ele
Erik BackBoard Member
Jeff ChapmanBoard Member
Jim ClaridaBoard Member
John CarrBoard Member
Kathy HenrichBoard Member
Kevin CaseyBoard Member
Mark FrancesconiBoard Member
Mary WellnitzBoard Member
Mike SchultzBoard Member
Nicholas OtisBoard Member
Nils DietzBoard Member
Rene RayBoard Member
Ryan SeaburgBoard Member
Sarah BrownBoard Member
Scott HamiltonBoard Member
Steve KringBoard Member
Tony OssBoard Member
Mike RiehleChamber Pres
Hubert Cook IiiExec. Direct
Ashley DickinsonSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$276,567
Program Service Revenue
$0
Investment Income
$74,957
Other Revenue
$52,187
All Other Contributions
$131,567
Change in Net Assets
$108,447
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$295,264
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$125,250$125,250-$250,500
Occupancy$13,395$14,017-$27,412
Fees for Service Investment Mgmnt Fees-$6,976-$6,976
Office Expenses$4,481$1,720-$6,201
Other Expenses-$3,274-$3,274
Depreciation Depletion-$901-$901
Total Functional Expenses$143,126$152,138$0$295,264
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Visual Arts Council$9,943
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 accountants present the financial statements at a board of directors meeting. The board members can ask any questions at this time.”

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

“Board members are required to sign a conflict of interest policy annually”

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

“The executive director's salary is subject to board evaluation and approval on an annual basis”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Greater Laporte Economic
EIN
35-2146258
Phone
2193248584
Address
809 WASHINGTON STREET RM/STE A, LAPORTE, IN 46350

Signing Officer

Name
Hubert Cook Iii
Title
Exec. Director
Phone
2193248584
Signed
2021-05-28

Organization Details

Principal Officer
Hubert Cook Iii
Formed
2002
Legal Domicile
In
Voting Board Members
20
Independent Board Members
20
Employees
0

Preparer

Firm
Parkison & Hinton Inc Pc
Address
PO BOX 638, LAPORTE, IN 46352-0638
Preparer
Jessica N Romine CPA
Phone
2193628547
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IRS990/PYTotalRevenueAmt0384691
IRS990/ReconcilationRevenueExpnssAmt0108447
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07542
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OCCUPANCY REIMBURSEMENT 13,650
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0276567
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0294220
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0224459
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0654412
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0218366
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01668024
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0140098
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt052187
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01050
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04200
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt04200
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt04200
IRS990ScheduleA/OtherIncome170Grp/TotalAmt065837
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96200
IRS990ScheduleA/PublicSupportPY170Pct00.98920
IRS990ScheduleA/PublicSupportTotal170Amt01668024
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0276567
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0294220
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0224459
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0654412
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0218366
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01668024
IRS990ScheduleA/TotalSupportAmt01733861
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0914
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026345
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt027259
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09943
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0VISUAL ARTS COUNCIL
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0914
IRS990ScheduleD/TotalLiabilityAmt09943
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTANTS PRESENT THE FINANCIAL STATEMENTS AT A BOARD OF DIRECTORS MEETING. THE BOARD MEMBERS CAN ASK ANY QUESTIONS AT THIS TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S SALARY IS SUBJECT TO BOARD EVALUATION AND APPROVAL ON AN ANNUAL BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0821297
IRS990/TotalAssetsEOYAmt0916391
IRS990/TotalAssetsGrp/BOYAmt0821297
IRS990/TotalAssetsGrp/EOYAmt0916391
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0276567
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0152138
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0143126
IRS990/TotalFunctionalExpensesGrp/TotalAmt0295264
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023296
IRS990/TotalLiabilitiesEOYAmt09943
IRS990/TotalLiabilitiesGrp/BOYAmt023296
IRS990/TotalLiabilitiesGrp/EOYAmt09943
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0798001
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0906448
IRS990/TotalProgramServiceExpensesAmt0143126
IRS990/TotalRevenueGrp/ExclusionAmt052187
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt074957
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0403711
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0821297
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0916391
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0102 WILLOWBEND
IRS990/USAddress/CityNm0LAPORTE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046350
IRS990/VotingMembersGoverningBodyCnt020
IRS990/VotingMembersIndependentCnt020
IRS990/WebsiteAddressTxt0WWW.GLEDC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0HUBERT COOK III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC. DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02193248584

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$916,391
Liabilities
$9,943
Net assets
$906,448
Revenue
$403,711
Expenses
$295,264
Net income
$108,447
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.95$0.03$0.92$0.29$0.26$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.11$0.90$0.27$0.26$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.07$0.18$0.89$0.20$0.26$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.05$0.11$0.95$0.32$0.28$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.92$0.01$0.91$0.40$0.30$0.11