EIN 92-0036148

Fairbanks Economic Development Corporation

IRS 501(c) type
501(c)(6)
Num. employees
6
State
Year formed
1968
Most recent tax filings
2022-12-01
NTEE code, primary
Description
Fairbanks Economic Development Corporation has a mission to assist in creating new jobs and economic opportunities for residents of the Fairbanks North Star Borough and our economic area. The defense industry contributes significantly to the economy, with 30% of 53,000 jobs and 38% of the $2.7 billion payroll coming from soldiers, civilians, and local contracts. The corporation also focuses on technology-led development by building a business-supportive community and providing resources to increase the success of start-up companies.
Total revenues
$456,985
2022
Total expenses
$499,232
2022
Total assets
$415,997
2022
Num. employees
6
2022

Program areas at Fairbanks Economic Development Corporation

Energy: the organization is working to address the high cost of energy in our community. The Fairbanks north star borough spends approximately $618 million annually on energy costs, over 2/3 of that cost is space heating (homes and businesses). Fedc is working to promote projects that will satisfy residential, commercial, industrial and military fuel needs and lower the cost of energy for the community.
Technology led Development: the focus of this program is to build a business supportive community and process that supports entrepreneurs with an array of resources and services in order to increase the success of start-up companies. The fedc projects within this "service" area all serve to diversity the Fairbanks economy by increasing support for entrepreneurs and innovators in the fnsb. The projects are also aimed at attracting investment in the fnsb.
Military: the defense industry contributes 30% of 53,000 jobs and 38% of our $2.7 billion dollar payroll. These job and dollars are compensation for soldiers and civilians on base (salaries, wages, allowances, and benefits) as well as local contracts and suppliers, and other local expenditures. The defense industry is the number one driver of jobs and payroll contributor in the interior. The organization's work with federal, state and local leaders; with military installation commanders, area commanders and pentagon commanders serves as a focal point for Fairbanks' interior Alaska. The organization works to facilitate military Economic Development initiatives that would help maintain and enhance the military industry in Alaska.
Other programs include grow Fairbanks, cold weather testing, rural outreach, community Economic modeling, and forestry & mining.

Personnel at Fairbanks Economic Development Corporation

NameTitleCompensation
Jomo StewartPresident and Chief Executive Officer$127,988
James DodsonFormer Executive Director$10,308
Jeff PutnamTreasurer$0
Bert BellBoard Chair$0
Amy CookSecretary$0
...and 5 more key personnel

Financials for Fairbanks Economic Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$450,350
Program services$6,500
Investment income and dividends$135
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$456,985

Form 990s for Fairbanks Economic Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-03-29990View PDF
2021-122022-07-13990View PDF
2020-122021-06-30990View PDF
2019-122020-09-02990View PDF
2018-122019-09-14990View PDF
...and 7 more Form 990s
Data update history
June 22, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 16, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 14, 2023
Updated personnel
Identified 1 new personnel
May 13, 2023
Updated personnel
Identified 1 new personnel
June 25, 2022
Updated personnel
Identified 14 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizations
Issues
Community improvementEconomic development
Characteristics
State / local levelReceives government fundingManagement and technical assistance
General information
Address
330 Wendell Ave Suite E
Fairbanks, AK 99701
Metro area
Fairbanks, AK
County
Fairbanks North Star Borough, AK
Website URL
investfairbanks.com/ 
Phone
(907) 452-2185
IRS details
EIN
92-0036148
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1968
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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