HARRISON COUNTY ECONOMIC DEVELOPMENT CORPORATION

EIN: 201076473 501(c)(3) Community Improvement

Corydon, IN

Total Revenue
$736,705
Total Expenses
$412,793
Total Assets
$9,295,195
Net Assets
$3,239,961
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
IN
Principal Officer
David Lett
Phone
8127388241
Tax Period
2024-01-01 to 2024-12-31

HARRISON COUNTY ECONOMIC DEVELOPMENT CORPORATION, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $737K in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $324K, a strong 44% operating margin.

Mission

To promote Harrison County for business development and workforce education. Projects are conducted to bring new jobs and investment to our community and to raise the skill levels of our workforce with education and training programs.

Program Service Accomplishments

Program 1
Expenses: $28,455 Revenue: $28,455

Education. Small Business Services and training activities were conducted and additional training programs were provided through our Regional Workforce Board, the Locally based Lifelong Learning...

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Education. Small Business Services and training activities were conducted and additional training programs were provided through our Regional Workforce Board, the Locally based Lifelong Learning Program, and the ACT Work Ready Communities Program. The Corporation also performs customized training support to local employers to improve the skills in the workplace.

Program 2
Expenses: $56,517 Revenue: $56,517

Promotion. Promotional projects and programs are conducted for the purpose of attracting new businesses to locate in our community. We are partners with a regional marketing group that promotes our...

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Promotion. Promotional projects and programs are conducted for the purpose of attracting new businesses to locate in our community. We are partners with a regional marketing group that promotes our region internationally and all around the United States. The promotional efforts are to try to recruit new businesses to Harrison County. Additional business promotion is conducted within our community by keeping connections with our existing businesses and providing assistance to the them so they can grow in our community.

Program 3
Expenses: $242,973 Revenue: $242,973

Business Development. Business development activities are performed to make our community ready for new businesses to locate here. The Corporation is working specifically to develop two business...

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Business Development. Business development activities are performed to make our community ready for new businesses to locate here. The Corporation is working specifically to develop two business areas in our county and we provide financial assistance to prepare this property for business growth.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $400,000
Investment Income $158,524
Other Revenue $178,181
TOTAL REVENUE $736,705

Expense Breakdown

Grants Paid $0
Salaries & Benefits $130,129
Fundraising Expenses $0
Program Expenses $327,945
Other Expenses $282,664
TOTAL EXPENSES $412,793

Year-over-Year Comparison

2024 2023 Change
Revenue $736,705 $444,242 +0.7%
Expenses $412,793 $303,527 +0.4%
Net Income $323,912 $140,715 +1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
1
Volunteers
25

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
7
$0
Key Employees
1
$109,180
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Darrell Voelker Executive Director 40
Key Emp
$109,180 $0 $109,180
David Lett President 5
Director
$0 $0 $0
Donnie Hussung Vice President 3
Director
$0 $0 $0
Rusty Crosier Board Member 2
Director
$0 $0 $0
Holli Castetter Board Member 2
Director
$0 $0 $0
Daniel Shireman Treasurer 3
Director
$0 $0 $0
Nelson Stepro Board Member 2
Director
$0 $0 $0
David Sanders Board Member 2
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $736,705 $412,793 $9,295,195 $323,912
2023 $444,242 $303,527 $9,249,691 $140,715
2022 $319,608 $341,284 $9,355,725 $-21,676
2021 $286,335 $384,197 $9,453,420 $-97,862
2020 $524,545 $353,826 $10,261,566 $170,719
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