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
Name | Title | Compensation | Date of data |
---|
Jomo Stewart | President and Chief Executive Officer | $127,988 | 2023-03-29 |
James Dodson | Former Executive Director | $10,308 | 2022-12-31 |
Jeff Putnam | Treasurer | $0 | 2022-12-31 |
Bert Bell | Board Chair | $0 | 2022-12-31 |
Amy Cook | Secretary | $0 | 2022-12-31 |
...and 5 more key personnel |
Financials for Fairbanks Economic Development Corporation
Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
---|
Total grants, contributions, etc. | $450,350 | $650,098 | -30.7% |
Program services | $6,500 | $0 | 999% |
Investment income and dividends | $135 | $101 | 33.7% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $0 | $0 | - |
Net income from fundraising events | $0 | $0 | - |
Net income from gaming activities | $0 | $0 | - |
Net income from sales of inventory | $0 | $0 | - |
Miscellaneous revenues | $0 | $98 | -100% |
Total revenues | $456,985 | $650,297 | -29.7% |
Organizations like Fairbanks Economic Development Corporation
Organization | Type | Location | Revenue |
---|
Jennings County Economic Developmnt Commission | 501(c)(6) | North Vernon, IN | $347,152 |
The Enterprise Group of Jackson | 501(c)(6) | Jackson, MI | $1,045,436 |
Operation Oswego County | 501(c)(6) | Oswego, NY | $901,330 |
Victoria Economic Development Corporation | 501(c)(6) | Victoria, TX | $854,432 |
Community Development of Morrison County | 501(c)(6) | Little Falls, MN | $194,305 |
Warren County Economic Development Corporation | 501(c)(6) | Indianola, IA | $239,765 |
Eau Claire Area Economic Development Corporation | 501(c)(6) | Eau Claire, WI | $207,475 |
Chaffee County Economic Development Corporation | 501(c)(6) | Salida, CO | $337,507 |
Jasper County Economic Development Corporation | 501(c)(6) | Newton, IA | $180,531 |
Marion Economic Development Company | 501(c)(6) | Marion, IA | $882,633 |
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/Â
- 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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