Civic Intelligence

Lagrange County Economic Development Corporation

990 • Fiscal year 2022 • EIN 80-0309463

Jan 01, 2022 to Dec 31, 2022 • Filed on May 04, 2023

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

41st percentile

0.01x

Higher debt load relative to assets than 41% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

49th percentile

0.02x

Higher debt load relative to revenue than 49% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

13th percentile

-26%

Higher net margin than 13% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

27th percentile

-6.9%

Faster asset growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

5th percentile

-60%

Faster revenue growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$976,949

Down $72,350 (-6.9%) from 2021

Net Assets

Down

$971,461

Down $77,070 (-7.4%) from 2021

Liabilities

Up

$5,488

Up $4,720 (+615%) from 2021

Revenue

Down

$296,020

Down $444,121 (-60%) from 2021

Expenses

Down

$373,090

Down $458,486 (-55%) from 2021

Net Income

Up

-$77,070

Up $14,365 (+16%) from 2021

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

2022

Assets$976,949
Liabilities$5,488
Net Assets$971,461

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

2022

Revenue$296,020
Expenses$373,090
Net Income-$77,070
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 4, 2023
Return Version
2022v5.0
Gross Receipts
$296,020
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$950,881$930,899▼ $19,982
Cash and Non-Interest-Bearing Accounts$90,418$38,531▼ $51,887
Land, Buildings, and Equipment, Net$8,000$7,519▼ $481
Total Assets$1,049,299$976,949▼ $72,350
Liabilities
Accounts Payable and Accrued Expenses$768$5,488▲ $4,720
Total Liabilities$768$5,488▲ $4,720
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,048,531$971,461▼ $77,070
Total Net Assets Fund Balance$1,048,531$971,461▼ $77,070
Total Liabilities and Net Assets / Fund Balance$1,049,299$976,949▼ $72,350

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,315$25,487$28,802
Leasehold Improvements$4,204$796$5,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark EaglesonChairman
Fritz SchlabachVice Chair
Mervin LehmanVice Chairma
John LarimerDirector
Mark LeuDirector
Dean DomerMember
Delbert MillerMember
Jeff ReefMember
Jeremy BurgiMember
Mike PatkaMember
Robbie MillerMember
Ryan RiegseckerMember
Stewart BenderMember
Terry MartinMember
Dana BerkesSecretary
Tj KempfTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$149,737
Program Service Revenue
$141,261
Investment Income
$5,022
Other Revenue
$0
All Other Contributions
$72,513
Change in Net Assets
$-77,070
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$213,999
Other Expenses$129,091
Grants and Similar Amounts Paid$30,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$106,800$26,700-$133,500
Fees for Services Other$73,565$1,771-$75,336
Other Salaries and Wages$34,800$8,700-$43,500
Grants to Domestic Orgs$30,000--$30,000
Other Employee Benefits$12,112$3,027-$15,139
Payroll Taxes$10,832$2,708-$13,540
Fees for Services Accounting-$13,131-$13,131
Office Expenses$9,704$2,426-$12,130
Advertising$9,015$2,254-$11,269
Pension Plan Contributions$6,656$1,664-$8,320
Occupancy$6,222$1,555-$7,777
Insurance-$3,320-$3,320
Travel$918$230-$1,148
Fees for Services Legal$720$180-$900
Conferences and Meetings$584$146-$730
Depreciation Depletion$480--$480
Other Expenses$106$26-$132
Interest$11--$11
Total Functional Expenses$304,707$68,383$0$373,090
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Howe RestaurantHowe, IN-Covid Relief$10,000
MAMA D'S HOMEMADE EATSStroh, IN--$10,000
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
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
2023-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Eagleson
Formed
2009
Legal Domicile
In
Voting Board Members
16
Independent Board Members
16
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 66,485 0 0 retirement fees 1,290 323 0 professional fees - other 1,970 493 0 bank service fees 169 42 0 travel & meetings 3,651 913 0 total 73,565 1,771 0

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IRS990/PrincipalOfficerNm0MARK EAGLESON
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0796
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt025487
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028802
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IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0COVID RELIEF
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HOWE RESTAURANT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MAMA D'S HOMEMADE EATS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine2Txt0DOXA INC
IRS990ScheduleI/RecipientTable/RecipientEIN0320454257
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt05385 SR 9
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt14285 S 1175 E
IRS990ScheduleI/RecipientTable/USAddress/CityNm0HOWE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1STROH
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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 66,485 0 0 RETIREMENT FEES 1,290 323 0 PROFESSIONAL FEES - OTHER 1,970 493 0 BANK SERVICE FEES 169 42 0 TRAVEL & MEETINGS 3,651 913 0 TOTAL 73,565 1,771 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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IRS990/TotalLiabilitiesEOYAmt05488

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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