Nonprofit · EIN 62-1248814
INDUSTRIAL DEVELOPMENT BOARD
Tax-exempt · MC KENZIE, TN 38201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $285,023 | $351,212 | -$66,189 | $4,109,864 | $961,383 | $3,148,481 |
| June 30, 2024 | 990 | $387,610 | $544,612 | -$157,002 | $4,334,245 | $999,373 | $3,334,872 |
| June 30, 2023 | 990 | $217,339 | $322,299 | -$104,960 | $4,504,611 | $1,012,736 | $3,491,875 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $33,750
- of which government grants
- $33,750
- Program service revenue
- $0
- Investment income
- $72,941
- Net rental income
- $112,400
- Other revenue
- $178,332
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $76,076
- Salaries, compensation and benefits (total)
- $81,948
- Professional fundraising fees
- $0
- Legal fees
- $559
- Accounting fees
- $22,000
- Occupancy
- $26,129
- Depreciation
- $16,576
- Program services (functional)
- $334,636
Balance sheet and other
- Total assets, start of year
- $4,334,245
- Total assets, end of year
- $4,109,864
- Total liabilities, end of year
- $961,383
- Net assets, end of year
- $3,148,481
- Land, buildings and equipment
- $2,268,734
- Publicly traded securities
- $303,266
- Net assets without donor restrictions
- $3,148,481
- Gross receipts
- $285,023
- Employees
- 1
- Volunteers
- 0
- Year formed
- 1962
- State of legal domicile
- TN
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Letha Basford | Director Trustee or director | 1 | $0 |
| Daniel Hollowell | Director Trustee or director | 1 | $0 |
| Ricky Price | Vice Chairman Trustee or director, Officer | 1 | $0 |
| Craig Hobson | Director Trustee or director | 1 | $0 |
| Chuck Sisson | Director Trustee or director | 1 | $0 |
| Mark Anderson II | Director Trustee or director | 1 | $0 |
| Joel Washburn | Chairman Trustee or director, Officer | 2 | $0 |
| John Wright | Director Trustee or director | 1 | $0 |
| Dennis Coleman | Secretary Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LETHA BASFORD | DIRECTOR Trustee or director | – | $0 |
| DENNIS COLEMAN | SECRETARY Trustee or director, Officer | – | $0 |
| CRAIG HOBSON | DIRECTOR Trustee or director | – | $0 |
| DANIEL HOLLOWELL | DIRECTOR Trustee or director | – | $0 |
| MARK ANDERSON II | DIRECTOR Trustee or director | – | $0 |
| RICKY PRICE | VICE CHAIRMA Trustee or director, Officer | – | $0 |
| CHUCK SISSON | DIRECTOR Trustee or director | – | $0 |
| JOEL WASHBURN | CHAIRMAN Trustee or director, Officer | – | $0 |
| JOHN WRIGHT | DIRECTOR Trustee or director | – | $0 |
990 for the year ended June 30, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LETHA BASFORD | DIRECTOR Trustee or director | – | $0 |
| DENNIS COLEMAN | DIRECTOR Trustee or director | – | $0 |
| TERRY HOWELL | DIRECTOR Trustee or director | – | $0 |
| MATT MERRICK | DIRECTOR Trustee or director | – | $0 |
| KEITH PRIESTLEY | SECRETARY Trustee or director, Officer | – | $0 |
| GARY SIMMONS | CHAIRMAN Trustee or director, Officer | – | $0 |
| LARRY SMITH | DIRECTOR Trustee or director | – | $0 |
| JOEL WASHBURN | CO-CHAIRMAN Trustee or director, Officer | – | $0 |
| RANDY WEBB | DIRECTOR Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 9 BROADWAY ST, MC KENZIE, TN 38201-2299
- Principal officer (990 for 2024)
- Monica Heath, 9 Broadway Street, McKenzie, TN 38201
- Signed the 990
- Monica Heath, Executive Director
- Phone
- (731) 352-2004
- Website
- www.growmckenzie.com
- Return prepared by
- ATA Advisory LLC
Mission
To attract and retain industries in the McKenzie, TN area.
Program accomplishments
- Attract and retain industryExpenses $334,636
- attract and retain industry
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 62-1248814
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1991
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $4,109,864
- Income (IRS master file)
- $285,023
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $285,023 | $351,212 | $4,109,864 | IRS |
| 990 | June 2024 | $387,610 | $544,612 | $4,334,245 | IRS |
| 990 | June 2023 | $217,339 | $322,299 | $4,504,611 | XML |
| 990 | June 2022 | $1,645,711 | $406,048 | $3,609,090 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 62-1248814).
Questions about INDUSTRIAL DEVELOPMENT BOARD
- What is the EIN of INDUSTRIAL DEVELOPMENT BOARD?
- The employer identification number (EIN) of INDUSTRIAL DEVELOPMENT BOARD is 62-1248814.
- Is INDUSTRIAL DEVELOPMENT BOARD tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1991.
- Are donations to INDUSTRIAL DEVELOPMENT BOARD tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does INDUSTRIAL DEVELOPMENT BOARD 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 INDUSTRIAL DEVELOPMENT BOARD due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDUSTRIAL DEVELOPMENT BOARD last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of INDUSTRIAL DEVELOPMENT BOARD?
- The 990 for the year ended June 30, 2025 names Monica Heath.
- Who are the officers and directors of INDUSTRIAL DEVELOPMENT BOARD?
- The 990 for the year ended June 30, 2025 lists 9 people; 0 received compensation from the organization.
- How much revenue does INDUSTRIAL DEVELOPMENT BOARD have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $285,023, expenses of $351,212 and total assets of $4,109,864 at year end.
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