Civic Intelligence

Lagrange County Economic Development Corporation

990 • Fiscal year 2020 • EIN 80-0309463

Jan 01, 2020 to Dec 31, 2020 • Filed on May 04, 2021

304 N Townline Rd Rm/Ste 2Lagrange, IN 46761

(260) 499-4994

Siviq Scores

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

Liabilities / Assets

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

0.04x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

19th percentile

-3.3%

Faster asset growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

48th percentile

0.1%

Faster revenue growth than 48% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,149,766

Down $39,383 (-3.3%) from 2019

Net Assets

Down

$1,139,964

Down $28,392 (-2.4%) from 2019

Liabilities

Down

$9,802

Down $10,991 (-53%) from 2019

Revenue

Up

$264,182

Up $258 (+0.1%) from 2019

Expenses

Down

$292,574

Down $1,973 (-0.7%) from 2019

Net Income

Up

-$28,392

Up $2,231 (+7.3%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $330,785Liabilities 2010: $883Net Assets 2010: $329,9022010Assets 2011: $284,761Liabilities 2011: $14,077Net Assets 2011: $270,6842011Assets 2012: $496,373Liabilities 2012: $1,067Net Assets 2012: $495,3062012Assets 2013: $400,922Liabilities 2013: $0Net Assets 2013: $400,9222013Assets 2014: $418,238Liabilities 2014: $3,302Net Assets 2014: $414,9362014Assets 2015: $1,269,724Liabilities 2015: $754Net Assets 2015: $1,268,9702015Assets 2016: $1,267,958Liabilities 2016: $2,055Net Assets 2016: $1,265,9032016Assets 2017: $1,138,048Liabilities 2017: $1,720Net Assets 2017: $1,136,3282017Assets 2018: $1,202,626Liabilities 2018: $3,657Net Assets 2018: $1,198,9692018Assets 2019: $1,189,149Liabilities 2019: $20,793Net Assets 2019: $1,168,3562019Assets 2020: $1,149,766Liabilities 2020: $9,802Net Assets 2020: $1,139,9642020Assets 2021: $1,049,299Liabilities 2021: $768Net Assets 2021: $1,048,5312021Assets 2022: $976,949Liabilities 2022: $5,488Net Assets 2022: $971,4612022Assets 2023: $960,289Liabilities 2023: $1,783Net Assets 2023: $958,5062023Assets 2024: $1,025,323Liabilities 2024: $51,148Net Assets 2024: $974,1752024

Highlighted filing

2020

Assets$1,149,766
Liabilities$9,802
Net Assets$1,139,964

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $139,4122010Expenses 2011: $258,2122011Revenue 2012: $462,998Expenses 2012: $238,596Net Income 2012: $224,4022012Revenue 2013: $238,655Expenses 2013: $332,819Net Income 2013: -$94,1642013Revenue 2014: $280,512Expenses 2014: $266,498Net Income 2014: $14,0142014Revenue 2015: $1,155,104Expenses 2015: $301,070Net Income 2015: $854,0342015Revenue 2016: $250,633Expenses 2016: $253,700Net Income 2016: -$3,0672016Revenue 2017: $255,445Expenses 2017: $385,020Net Income 2017: -$129,5752017Revenue 2018: $264,740Expenses 2018: $202,099Net Income 2018: $62,6412018Revenue 2019: $263,924Expenses 2019: $294,547Net Income 2019: -$30,6232019Revenue 2020: $264,182Expenses 2020: $292,574Net Income 2020: -$28,3922020Revenue 2021: $740,141Expenses 2021: $831,576Net Income 2021: -$91,4352021Revenue 2022: $296,020Expenses 2022: $373,090Net Income 2022: -$77,0702022Revenue 2023: $221,785Expenses 2023: $234,740Net Income 2023: -$12,9552023Revenue 2024: $276,303Expenses 2024: $260,634Net Income 2024: $15,6692024

Highlighted filing

2020

Revenue$264,182
Expenses$292,574
Net Income-$28,392
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 4, 2021
Return Version
2020v4.0
Gross Receipts
$264,182
Mission and Program Overview

Mission

The lagrange county economic development corporation is the single point of contact for economic development efforts in lagrange county, indiana. We work with regional, state and federal partners to support and encourgage our clients' business development endeavors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,016,862$1,028,155▲ $11,293
Cash and Non-Interest-Bearing Accounts$150,333$105,467▼ $44,866
Accounts Receivable$9,532--
Land, Buildings, and Equipment, Net$9,115$8,536▼ $579
Prepaid Expenses and Deferred Charges$3,307$7,608▲ $4,301
Total Assets$1,189,149$1,149,766▼ $39,383
Liabilities
Deferred Revenue$11,833--
Other Liabilities$7,947$9,802▲ $1,855
Accounts Payable and Accrued Expenses$1,013--
Total Liabilities$20,793$9,802▼ $10,991
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$952,329$923,937▼ $28,392
Net Assets With Donor Restrictions$216,027$216,027→ $0
Total Net Assets Fund Balance$1,168,356$1,139,964▼ $28,392
Total Liabilities and Net Assets / Fund Balance$1,189,149$1,149,766▼ $39,383

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$218$16,028$16,246
Leasehold Improvements$8,318$4,938$13,256
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$77,033
Program Service Revenue
$142,263
Investment Income
$8,286
Other Revenue
$36,600
All Other Contributions
$77,033
Change in Net Assets
$-28,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$208,695
Other Expenses$83,879
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$73,589$18,397-$91,986
Other Salaries and Wages$66,722$16,681-$83,403
Fees for Services Other$35,866$785-$36,651
Payroll Taxes$10,734$2,683-$13,417
Pension Plan Contributions$10,382$2,596-$12,978
Fees for Services Accounting-$10,905-$10,905
Occupancy$8,523$2,130-$10,653
Office Expenses$6,383$1,596-$7,979
Other Employee Benefits$5,528$1,383-$6,911
Depreciation Depletion$4,881--$4,881
Insurance-$4,138-$4,138
Travel$2,679$670-$3,349
Advertising$2,446$612-$3,058
Fees for Services Legal$875$219-$1,094
Other Expenses$80$20-$100
Interest$38--$38
Conferences and Meetings$24$6-$30
Total Functional Expenses$229,552$63,022$0$292,574
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
Accrued Payroll Expenses$9,802
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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

Form 990 is reviewed by the executive director and treasurer and officers of the board prior to submission.

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

Members of the board require employees and members of the board to disclose conflicts of interest annually. Members of the board are also required to disclose any potential conflict of interest with the organization immeidately to the executive director.

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

All compensation adjustment is voted by the board of directors. The person considered of such increases or other personnel issues are not allowed to vote and generally are not included in the direct discussion of the issues at hand. Compensation is discussed by officers of the board of directors prior to approval by the board. Discussions include performance, rate of salary comparable to other directors of similar organizations in the surrounding area.

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

All compensation adjustment is voted by the board of directors. The person considered of such increases or other personnel issues are not allowed to vote and generally are not included in the direct discussion of the issues at hand.

Form 990, Page 6, Part VI, Line 19

The public may request any copies of form 990 and they will be supplied by request only.

Filing and Contact Details

Filer

Filer Name
Lagrange County Economic
EIN
80-0309463
Phone
2604994994
Address
304 N TOWNLINE RD RM/STE 2, LAGRANGE, IN 46761

Signing Officer

Name
Mark Eagleson
Title
Chairman
Phone
2604994994
Signed
2021-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Eagleson
Formed
2009
Legal Domicile
In
Voting Board Members
17
Independent Board Members
17
Employees
3

Preparer

Firm
Fry Trowbridge & Associates Pc
Address
800 SOUTH DETROIT STREET, LAGRANGE, IN 46761
Preparer
Randy D Fry CPA Cva Cgma
Phone
2604632390
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The lagrange county economic development corporation is the single point of contact for economic development efforts in lagrange county, indiana. We work with regional, state and federal partners to support and encourgage our clients' business development endeavors.

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

The purpose is to hire the executive director to manage the primary purpose and the equipment to be able to effectively operate the primary purpose.

Form 990, Part IX, Line 11G

Special projects / studies 28,333 0 0 retirement fees 1,300 325 0 professional fees - other 1,562 390 0 bank service fees 278 70 0 launch lagrange 4,393 0 0 total 35,866 785 0

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IRS990/MissionDesc0THE LAGRANGE COUNTY ECONOMIC DEVELOPMENT CORPORATION IS THE SINGLE POINT OF CONTACT FOR ECONOMIC DEVELOPMENT EFFORTS IN LAGRANGE COUNTY, INDIANA. WE WORK WITH REGIONAL, STATE AND FEDERAL PARTNERS TO SUPPORT AND ENCOURGAGE OUR CLIENTS' BUSINESS DEVELOPMENT ENDEAVORS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LAGRANGE COUNTY ECONOMIC DEVELOPMENT CORPORATION IS THE SINGLE POINT OF CONTACT FOR ECONOMIC DEVELOPMENT EFFORTS IN LAGRANGE COUNTY, INDIANA. WE WORK WITH REGIONAL, STATE AND FEDERAL PARTNERS TO SUPPORT AND ENCOURGAGE OUR CLIENTS' BUSINESS DEVELOPMENT ENDEAVORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PURPOSE IS TO HIRE THE EXECUTIVE DIRECTOR TO MANAGE THE PRIMARY PURPOSE AND THE EQUIPMENT TO BE ABLE TO EFFECTIVELY OPERATE THE PRIMARY PURPOSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND TREASURER AND OFFICERS OF THE BOARD PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS OF THE BOARD REQUIRE EMPLOYEES AND MEMBERS OF THE BOARD TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY. MEMBERS OF THE BOARD ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST WITH THE ORGANIZATION IMMEIDATELY TO THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL COMPENSATION ADJUSTMENT IS VOTED BY THE BOARD OF DIRECTORS. THE PERSON CONSIDERED OF SUCH INCREASES OR OTHER PERSONNEL ISSUES ARE NOT ALLOWED TO VOTE AND GENERALLY ARE NOT INCLUDED IN THE DIRECT DISCUSSION OF THE ISSUES AT HAND. COMPENSATION IS DISCUSSED BY OFFICERS OF THE BOARD OF DIRECTORS PRIOR TO APPROVAL BY THE BOARD. DISCUSSIONS INCLUDE PERFORMANCE, RATE OF SALARY COMPARABLE TO OTHER DIRECTORS OF SIMILAR ORGANIZATIONS IN THE SURROUNDING AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL COMPENSATION ADJUSTMENT IS VOTED BY THE BOARD OF DIRECTORS. THE PERSON CONSIDERED OF SUCH INCREASES OR OTHER PERSONNEL ISSUES ARE NOT ALLOWED TO VOTE AND GENERALLY ARE NOT INCLUDED IN THE DIRECT DISCUSSION OF THE ISSUES AT HAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PUBLIC MAY REQUEST ANY COPIES OF FORM 990 AND THEY WILL BE SUPPLIED BY REQUEST ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SPECIAL PROJECTS / STUDIES 28,333 0 0 RETIREMENT FEES 1,300 325 0 PROFESSIONAL FEES - OTHER 1,562 390 0 BANK SERVICE FEES 278 70 0 LAUNCH LAGRANGE 4,393 0 0 TOTAL 35,866 785 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.03$0.05$0.97$0.28$0.26$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.96$0.00$0.96$0.22$0.23$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.98$0.01$0.97$0.30$0.37$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.74$0.83$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.14$0.26$0.29$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.02$1.17$0.26$0.29$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$0.26$0.20$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$0.26$0.39$0.13
2016Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$0.25$0.25$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$1.16$0.30$0.85
2014Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.41$0.28$0.27$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$0.24$0.33$0.09
2012Summary only. Only limited summary data is available for this year.$0.50$0.00$0.50$0.46$0.24$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.01$0.27$0.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.00$0.33$0.14