TY 2020 Form 990EZ

Form990EZ

Department of the Treasury
Internal Revenue Service

Short Form
Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

Go to www.irs.gov/Form990EZ for instructions and the latest information.

OMB No. 1545-1150

2020

Open to Public
Inspection

Check if applicable:

Address change

Name change

Initial return

Final return/terminated

Amended return

Application pending

C Name of organization
Montrose Economic Development Corp

Number and street (or P. O. box, if mail is not delivered to street address)1601 Oxbow Drive
Room/suite

City or town, state or province, country, and ZIP or foreign postal code Montrose, CO81401

D Employer identification number

74-2041618

E Telephone number

(970) 249-9438

F Group Exemption
Number bullet

Part ⅢStatement of Program Service Accomplishments (see the instructions for Part III) Check if the organization used Schedule O to respond to any question in this Part III . .	Expenses (Required for section 501(c)(3) and 501(c)(4) organizations; optional for others.)
What is the organization's primary exempt purpose? To maintain and improve local economy by assisting existing companies with retention/expansion and new companies to relocate to the area.
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. In a clear and concise manner, describe the services provided, the number of persons benefited, and other relevant information for each program title.
28 Economic development in Montrose county, Colorado including assisting in retaining/expanding existing firms and helping businesses relocate into the area. Indirect benefit to all residents of county. (Grants $ ) If this amount includes foreign grants, check here ...		28a
29 Acquire and develop sites for industrial/commercial use as an aid to retaining/expanding existing firms and helping businesses to relocate into the area. Indirect benefit to all residents of county. (Grants $ ) If this amount includes foreign grants, check here ...		29a
30 Acquire and develop infrastructure for industrial/commercial use as an aid to retaining/expanding existing firms and helping businesses to relocate into the area. Indirect benefit to all residents of county. (Grants $ ) If this amount includes foreign grants, check here ...		30a
31 Other program services (describe in Schedule O) ................ (Grants $ ) If this amount includes foreign grants, check here...	31a
32 Total program service expenses (add lines 28a through 31a)..........	32

(a) Name and title	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC) (if not paid, enter -0-)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation
Jim Plumhoff Director	1.00	0
Ken Norris Director	1.00	0
Susan Bony Director	1.00	0
Jasen Bronec Director	1.00	0
Rob Smith Director	1.00	0
Martin Lutz Director	1.00	0
Mike Kusar Secretary	1.00	0
Tyler Dahl Vice Chair	1.00	0
James Kiser Director	1.00	0
Corri Schmidt Director	1.00	0
Kevin Torres Director	1.00	0
Steve Anderson Director	1.00	0
Steve Stevenson Treasurer	1.00	0
Doug Seacat Director	1.00	0
Buck Miller Chairman	2.00	0
Roland Hutson Director	1.00	0
William Bell Director	1.00	0
Chris DeMunbrun Director	1.00	0
Zoe Larkin Director	1.00	0
Gary Ratcliff Director	1.00	0
Stephen Schiell Director	1.00	0
Dave Bowman Director	1.00	0
Keith Caddy Director	1.00	0
Steve Putnam Director	1.00	0
Tim Pinnow Director	1.00	0
Carrie Stephenson Director	1.00	0
Mandy Miller Director	1.00	0

Yes

Did the organization engage in lobbying activities or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II .......................

Is the organization a school as described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E ..

49a

Did the organization make any transfers to an exempt non-charitable related organization?......

49a

If "Yes," was the related organization a section 527 organization?................

49b

Complete this table for the organization's five highest compensated employees (other than officers, directors, trustees and key employees) who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and title of each employee	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation
NONE

Total number of other employees paid over $100,000 ............. bullet

Complete this table for the organization's five highest compensated independent contractors who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and business address of each independent contractor	(b) Type of service	(c) Compensation
NONE


Name of organization Montrose Economic Development Corp	Employer identification number 74-2041618
Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)


Name of organization Montrose Economic Development Corp	Employer identification number 74-2041618
Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Return Reference	Explanation
Other Expenses.1002	Office Expenses $2204
Other Expenses.1008	Interest $352
Other Expenses.1009	Depreciation $1503
Other Expenses.1012	Insurance $3264
Other Expenses.1	Telecommunications $4252
Other Expenses.2	Dues & subscriptions $1984
Other Expenses.3	Newsletter/Annual Report $1942
Other Expenses.4	Website $1059
Other Expenses.5	Merchant Fees $1031
Other Expenses.7	Computer Svcs/Support $405
Other Expenses.8	Meals $49
Other Assets.1006	Pledges and Grants Receivable - Beginning $8250 Pledges and Grants Receivable - Ending $4000
Other Assets.1	Sick pay credit receivable - Beginning $0 Sick pay credit receivable - Ending $961
Total Liabilities.1001	Accounts Payable and Accrued Expenses - Beginning $325 Accounts Payable and Accrued Expenses - Ending $24
Total Liabilities.1	- Beginning $0 - Ending $0
Total Liabilities.2	- Beginning $0 - Ending $0

Return Reference

Explanation

Other Expenses.1002

Office Expenses $2204

Other Expenses.1008

Interest $352

Other Expenses.1009

Depreciation $1503

Other Expenses.1012

Insurance $3264

Other Expenses.1

Telecommunications $4252

Other Expenses.2

Dues & subscriptions $1984

Other Expenses.3

Newsletter/Annual Report $1942

Other Expenses.4

Website $1059

Other Expenses.5

Merchant Fees $1031

Other Expenses.7

Computer Svcs/Support $405

Other Expenses.8

Meals $49

Other Assets.1006

Pledges and Grants Receivable - Beginning $8250 Pledges and Grants Receivable - Ending $4000

Other Assets.1

Sick pay credit receivable - Beginning $0 Sick pay credit receivable - Ending $961

Total Liabilities.1001

Accounts Payable and Accrued Expenses - Beginning $325 Accounts Payable and Accrued Expenses - Ending $24

Total Liabilities.1

- Beginning $0 - Ending $0

Total Liabilities.2

- Beginning $0 - Ending $0

1	Contributions, gifts, grants, and similar amounts received ....................	1	127,317
2	Program service revenue including government fees and contracts ................	2
3	Membership dues and assessments .............................	3
4	Investment income ....................................	4	642
5a	Gross amount from sale of assets other than inventory .......	5a
b	Less: cost or other basis and sales expenses ............	5b	0
c	Gain or (loss) from sale of assets other than inventory (Subtract line 5b from line 5a) ......	5c
6	Gaming and fundraising events
a	Gross income from gaming (attach Schedule G if greater than $15,000)	6a
b	Gross income from fundraising events (not including $ of contributions from fundraising events reported on line 1) (attach Schedule G if the			sum of such gross income and contributions exceeds $15,000) ..	6b	11,050
c	Less: direct expenses from gaming and fundraising events ...	6c	1,189
d	Net income or (loss) from gaming and fundraising events (add lines 6a and 6b and subtract line 6c)	6d	9,861
7a	Gross sales of inventory, less returns and allowances ......	7a
b	Less: cost of goods sold .............	7b	0
c	Gross profit or (loss) from sales of inventory (Subtract line 7b from line 7a) .........	7c
8	Other revenue (describe in Schedule O) ....................	8
9	Total revenue. Add lines 1, 2, 3, 4, 5c, 6d, 7c, and 8 ..............	9	137,820

10	Grants and similar amounts paid (list in Schedule O) ................	10
11	Benefits paid to or for members ......................	11
12	Salaries, other compensation, and employee benefits ................	12	144,276
13	Professional fees and other payments to independent contractors ............	13	2,810
14	Occupancy, rent, utilities, and maintenance ...................	14	25,854
15	Printing, publications, postage, and shipping ...................	15	660
16	Other expenses (describe in Schedule O) ...................	16	18,045
17	Total expenses. Add lines 10 through 16 .................	17	191,645

18	Excess or (deficit) for the year (Subtract line 17 from line 9) ............	18	-53,825
19	Net assets or fund balances at beginning of year (from line 27, column (A)) (must agree with
	end-of-year figure reported on prior year’s return) .................	19	92,282
20	Other changes in net assets or fund balances (explain in Schedule O) ...........	20	-7,488
21	Net assets or fund balances at end of year. Combine lines 18 through 20 ..........	21	30,969

Sign Here

	Signature of officer	Date

	Type or print name and title

Software ID:	20011551
Software Version:	2020v4.0


Name of organization Montrose Economic Development Corp			Employer identification number 74-2041618
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.