ECONOMIC DEVELOPMENT CORPORATION OF ELKHART COUNTY INC

EIN: 351973845 501(c)(3) Unknown

ELKHART, IN

Total Revenue
$653,697
Total Expenses
$748,915
Total Assets
$675,386
Net Assets
$478,428
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
IN
Principal Officer
CHRIS STAGER
Phone
5742935627
Tax Period
2024-01-01 to 2024-12-31

ECONOMIC DEVELOPMENT CORPORATION OF ELKHART COUNTY INC, founded in 1995, is a small nonprofit in the Unknown sector that reported $654K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $749K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO CREATE AN ECONOMICALLY VIBRANT COMMUNITY BY RECRUITING, RETAINING, AND STRENGTHENING OUR ECONOMIC BASE; BEING A CATALYST FOR DIVERSIFICATION, INNOVATION, AND ECONOMIC CHANGE. WE ACCOMPLISH OUR MISSION BY WORKING WITH COMPANIES LOOKING TO LOCATE OR EXPAND IN ELKHART COUNTY.

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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 $649,975
Program Service Revenue $21,608
Investment Income $1,624
Other Revenue $-19,510
TOTAL REVENUE $653,697

Expense Breakdown

Grants Paid $0
Salaries & Benefits $546,918
Fundraising Expenses $143,263
Program Expenses $399,457
Other Expenses $201,997
TOTAL EXPENSES $748,915

Year-over-Year Comparison

2024 2023 Change
Revenue $653,697 $566,586 +0.2%
Expenses $748,915 $721,633 +0.0%
Net Income $-95,218 $-155,047 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
28
Independent Members
28
Employees
6
Volunteers
N/A

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
4
$139,020
Total Directors
27
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS STAGER PRESIDENT/CE 50.00
Officer
$139,020 $0 $139,020
MIKE YODER CHAIR 1.00
Officer Director
$0 $0 $0
RHETT FISHER TREASURER/VI 1.00
Officer Director
$0 $0 $0
JACK WELTER SECRETARY 1.00
Officer Director
$0 $0 $0
WILLIAM B BURTON BOARD MEMBER 1.00
Director
$0 $0 $0
LORI STANGER BOARD MEMBER 1.00
Director
$0 $0 $0
JEFF BEACHY BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN DICKERSON BOARD MEMBER 1.00
Director
$0 $0 $0
SCOTT FORD BOARD MEMBER 1.00
Director
$0 $0 $0
PHIL JENKINS BOARD MEMBER 1.00
Director
$0 $0 $0
LEVON JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
JESS KOSCHER BOARD MEMBER 1.00
Director
$0 $0 $0
HOLLY LANDIS BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN K LETHERMAN BOARD MEMBER 1.00
Director
$0 $0 $0
CARL RISK BOARD MEMBER 1.00
Director
$0 $0 $0
ROD ROBERSON BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE STUMP BOARD MEMBER 1.00
Director
$0 $0 $0
GINA LEICHTY BOARD MEMBER 1.00
Director
$0 $0 $0
CLARK WARNER BOARD MEMBER 1.00
Director
$0 $0 $0
SUZIE WEIRICK BOARD MEMBER 1.00
Director
$0 $0 $0
MARY CRIPE BOARD MEMBER 1.00
Director
$0 $0 $0
NICK KIEFFER BOARD MEMBER 1.00
Director
$0 $0 $0
ADAM BUJALSKI BOARD MEMBER 1.00
Director
$0 $0 $0
BILL DUTKOWSKI BOARD MEMBER 1.00
Director
$0 $0 $0
ZHONGJIE PETER LIANG BOARD MEMBER 1.00
Director
$0 $0 $0
LORI SNYDER BOARD MEMBER 1.00
Director
$0 $0 $0
JEREMY STUTSMAN BOARD MEMBER 1.00
Director
$0 $0 $0
BRETT WEDDELL BOARD MEMBER 1.00
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 $653,697 $748,915 $675,386 $-95,218
2023 $566,586 $721,633 $820,573 $-155,047
2022 $663,863 $704,030 $1,003,309 $-40,167
2021 $747,973 $602,807 $775,468 $145,166
2020 $770,368 $603,738 $637,575 $166,630
2019 $879,723 $877,815 $500,065 $1,908
2018 $897,717 $888,917 $479,254 $8,800
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