2024-03-30T15:52:00-05:00 2023-12-31 920121157 RJG A PROFESSIONAL CORPORATION 1100 WEST BARNETTE SUITE 102 FAIRBANKS AK 99701 990 2023-01-01 920036148 FAIRBANKS ECONOMIC DEVELOPMENT CORP FAIR 9074522185 330 WENDELL AVE SUITE E FAIRBANKS AK 99701 JOMO STEWART PRESIDENT AND CEO 9074522185 2024-03-30 1 JOMO STEWART 999009999 0 DEBRA J GROSS P00167123 9074524156 2024-03-30 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JOMO STEWART 330 WENDELL AVE FAIRBANKS AK 99701 703108 0 X WWW.INVESTFAIRBANKS.COM X 1968 AK ECONOMIC DEVELOPMENT 11 11 4 19 0 0 450350 688624 6500 12026 135 2458 0 0 456985 703108 0 0 0 0 351606 350786 0 0 0 147626 220119 499232 570905 -42247 132203 415997 558127 65345 75272 350652 482855 X TO ASSIST IN CREATING NEW JOBS AND NEW ECONOMIC OPPORTUNITIES FOR RESIDENTS OF THE FAIRBANKS NORTH STAR BOROUGH AND OUR ECONOMIC AREA. 0 0 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. 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. 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. OTHER PROGRAMS INCLUDE GROW FAIRBANKS, COLD WEATHER TESTING, RURAL OUTREACH, COMMUNITY ECONOMIC MODELING, AND FORESTRY & MINING. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 4 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK X THE ORGANIZATION 9074522185 330 WENDELL AVE SUITE E FAIRBANKS AK 99701 AMY COOK SECRETARY 2.00 X X 0 0 0 BERT BELL BOARD CHAIR 2.00 X X 0 0 0 GERI SIMON VICE-CHAIR 2.00 X X 0 0 0 DAN WHITE DIRECTOR 1.00 X 0 0 0 STEVE LUNDGREN DIRECTOR 1.00 X 0 0 0 JEFF PUTNAM TREASURER 2.00 X X 0 0 0 GRIER HOPKINS DIRECTOR 1.00 X 0 0 0 LOU FLORENCE DIRECTOR 1.00 X 0 0 0 JENNIFER THOMPSON DIRECTOR 1.00 X 0 0 0 DAVID HALE DIRECTOR 1.00 X 0 0 0 CRYSTAL TIDWELL DIRECTOR 1.00 X 0 0 0 JOMO STEWART CURRENT PRESIDENT/CEO 40.00 X 130396 0 0 130396 0 0 1 0 0 0 0 543500 145124 688624 ALASKA DEFENSE FORUM R 900099 7498 7498 ALASKA MEP CLASS FEES 900099 2812 2812 AIBA COURSE FEES 900099 1716 1716 12026 2458 2458 703108 12026 0 2458 X 133450 166394 26453 24489 12265 38060 2706 18089 41251 18245 2483 1304 CONFERENCE CENTER RENTA 35920 PROFESSIONAL MEETINGS:M 13880 PROMOTION & RESEARCH 13401 TELEPHONE/UTILITIES 10248 12267 570905 100392 299491 150828 154908 121250 59500 5843 5928 62351 56803 8030 5548 29654 32752 415997 558127 35691 42520 29654 32752 65345 75272 X 350652 482855 350652 482855 415997 558127 132203 0 X X 1 X 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 62351 56803 5548 5548 RIGHT OF USE ASSET 32752 32752 LEASE LIABILITY 32752 32752 FORM 990, PART VI, SECTION B, LINE 11B ONCE THE FORM 990 HAS BEEN COMPLETED, THE EXECUTIVE ASSISTANT/FISCAL MANAGER AND THE PRESIDENT/CEO BOTH REVIEW THE DRAFT OF THE 990 FOR ACCURACY AND COMPLETENESS, WORKING WITH THE PREPARER AS NECESSARY TO MAKE ANY CORRECTIONS. THE 990 IS THEN FORWARDED TO THE FINANCE COMMITTEE WHO WILL CONDUCT A FINAL REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C FEDC HAS GUIDELINES TO AVOID REAL OR POTENTIAL CONFLICTS OF INTEREST INCLUDING A SYSTEM WHERE BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO PRESENT IN WRITING ANY CONFLICT OF INTEREST TO THE FEDC BOARD OF DIRECTORS. ANY POTENTIAL CONFLICTS OF INTEREST ARE ALSO REVIEWED THROUGH FEDC'S ANNUAL AUDIT. FORM 990, PART VI, SECTION B, LINE 15 THE CURRENT CEO WAS HIRED SEVERAL YEARS AGO. AT THAT TIME, THE BOARD OF DIRECTORS UNDERTOOK A LARGE SCALE, NATIONWIDE SEARCH FOR A CEO. AS PART OF THIS PROCESS, THE BOARD EVALUATED COMPENSATION AND BENEFIT PACKAGES FOR COMPARABLE POSITIONS, AND THE EXPERIENCE AND EXPERTISE REQUIRED OF THE PERSON FOR THIS POSITION. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ANNUAL FINANCIAL STATEMENTS ARE INCLUDED IN ANNUAL REPORTS THAT ARE PROVIDED TO GRANTORS, AND GOVERNMENTAL ENTITIES, AND ARE AVAILABLE ON THE FEDC WEBSITE. FORM 990, PART IX, LINE 24E DUES & SUBSCRIPTIONS 5,552. OTHER MISCELLANEOUS EXPENSES 4,447. PRINTING AND REPRODUCTION 2,268.