Nonprofit · EIN 23-7313309
FOSTORIA ECONOMIC DEVELOPMENT CORP
Tax-exempt · FOSTORIA, OH 44830
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $370,328 | $385,056 | -$14,728 | $292,886 | $130,668 | $162,218 |
| December 31, 2023 | 990 | $443,302 | $399,484 | $43,818 | $306,392 | $129,846 | $176,546 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $243,737
- of which government grants
- $178,737
- Program service revenue
- $120,194
- Investment income
- $5,287
- Other revenue
- $1,110
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $146,275
- Other salaries and wages
- $148,737
- Salaries, compensation and benefits (total)
- $325,377
- Professional fundraising fees
- $0
- Accounting fees
- $465
- Occupancy
- $12,000
- Travel
- $711
- Depreciation
- $3,260
- Program services (functional)
- $358,662
- Management and general (functional)
- $26,394
Balance sheet and other
- Total assets, start of year
- $306,392
- Total assets, end of year
- $292,886
- Total liabilities, end of year
- $130,668
- Net assets, end of year
- $162,218
- Land, buildings and equipment
- $14,922
- Net assets without donor restrictions
- $162,218
- Gross receipts
- $370,328
- Employees
- 4
- Year formed
- 1982
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK BAKER | TREASURER Trustee or director, Officer | 1 | $0 |
| RONALD L BURNS | AT LARGE Trustee or director | 1 | $0 |
| GREG CASSIDY | CITY REP Trustee or director | 1 | $0 |
| LEONARD CLOUSE | AT LARGE Trustee or director | 1 | $0 |
| DON MENNEL | MAYOR Trustee or director | 1 | $0 |
| FORD MENNEL | IMM PAST CHA Trustee or director | 1 | $0 |
| BRIDGETT MUNDY | AT LARGE Trustee or director | 1 | $0 |
| BROOK PIPER | AT LARGE Trustee or director | 1 | $0 |
| AMY PREBLE | SECRETARY Trustee or director, Officer | 1 | $0 |
| TOM REINEKE | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JOHN SCHULD | VICE-CHAIR Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RENEE SMITH | PRESIDENT Key employee | – | $185,500 |
| MARK BAKER | AT LARGE Trustee or director | – | $0 |
| TOM BORER | SECRETARY Trustee or director, Officer | – | $0 |
| RONALD L BURNS | TREASURER Trustee or director, Officer | – | $0 |
| LEONARD CLOUSE | AT LARGE Trustee or director | – | $0 |
| ERIC KECKLER | AT LARGE Trustee or director | – | $0 |
| DON MENNEL | CITY COUNCIL Trustee or director | – | $0 |
| FORD MENNEL | IMM PAST CHA Trustee or director | – | $0 |
| BRIDGETT MUNDY | AT LARGE Trustee or director | – | $0 |
| BROOK PIPER | AT LARGE Trustee or director | – | $0 |
| TOM REINEKE | CHAIRMAN Trustee or director, Officer | – | $0 |
| JOHN SCHULD | VICE-CHAIR Trustee or director, Officer | – | $0 |
Address and contacts
- Address (IRS master file)
- 342 PERRY ST, FOSTORIA, OH 44830-2148
- Principal officer (990 for 2024)
- TOM REINEKE, 342 PERRY STREET, FOSTORIA, OH 44830
- Signed the 990
- GREGORY ALLEN, EXECUTIVE DIRECTOR
- Website
- WWW.FOSTORIAEDC.ORG
- Return prepared by
- FRUTH & COMPANY PLL CPA'S
Mission
ATTRACTING NEW BUSINESS ENTERPRISES.
Program accomplishments
- PROMOTION OF INDUSTRIAL AND COMMERCIAL GROWTH AND DEVELOPMENT WITHIN THE FOSTORIA METRO AREA.Expenses $358,662 · revenue $120,194
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7313309
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1974
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $292,886
- Income (IRS master file)
- $370,328
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $370,328 | $385,056 | $292,886 | IRS |
| 990 | December 2023 | $443,302 | $399,484 | $306,392 | XML |
| 990 | December 2022 | $294,702 | $360,028 | $259,506 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7313309).
Questions about FOSTORIA ECONOMIC DEVELOPMENT CORP
- What is the EIN of FOSTORIA ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of FOSTORIA ECONOMIC DEVELOPMENT CORP is 23-7313309.
- Is FOSTORIA ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1974.
- Are donations to FOSTORIA ECONOMIC DEVELOPMENT CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FOSTORIA ECONOMIC DEVELOPMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOSTORIA ECONOMIC DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOSTORIA ECONOMIC DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOSTORIA ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names TOM REINEKE.
- Who are the officers and directors of FOSTORIA ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does FOSTORIA ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $370,328, expenses of $385,056 and total assets of $292,886 at year end.
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