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Wabash Mission Statement

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The nonprofit organization Economic Development Group of Wabash County began its journey in 2007 with a vision to help the community of Wabash. The mission statement of EDC is “to create economic and employment opportunities for the people and businesses of Wabash County”. (A Letter from the President/CEO Mr. William S. Konyha page 5, 2011) Incorporating the mission for the prospect of new businesses in the community and to enhance the already established ones the EDC began. Their journey began in 2007 with the lack of “financial infrastructure required”. (News /Events, 2007-2013) They joined with local businesses to obtain loan for working capital, along with a government matched grant. This allowed them to establish a financial base for …show more content…

The end of the year balance sheet shows the ending asset at $365,659.33 and liabilities at $ 20,944.28. (2011 Annual Report, 2011) The board’s budget for the year had a better variance then the year of birth in 2007. This meant they looked father in the future for challenges that could occur and evaluated with better numbers. In 2013 The Economic Development Group of Wabash County nonprofit organization met and exceeded the vision with an ending total asset of $ 746,604.03. However the organization went over the budget for expense leaving a variance of $90,543.74. (2013 Annual Report , 2013) In observing the financial health of Economic Development Group of Wabash County, in my opinion believe the board has struggled to budget the correct foreseen expenses for the organization. Spending of the organization has exceeded expectation but has not exceeded the revenue income. Prediction the future expenses of a nonprofit organization is an essential part of survival. The group’s present financials are not reported on the web site, but the nonprofit organization is still thriving and moving forward with their mission. Does this organization compare to the 85 Hope financial …show more content…

The non-profit organization does not reveal its financial health with transparency. The web page has no visual annual report, nor any links to follow the finances. “Be informative” and “Transparency” (Brinckerhoff, 2009) are two important attributes for your organizations financial health to the public. Further research on the web, the discovery of 85 Hope finances revealed revenue in 2012 of $87,265 and 2013 revenue of $76,776. The total liabilities of $5,851 in 2012 and in 2013 $2,748 are reported. (85 Hope Inc in Wabash, Indiana (IN), 2016) . The difference of financial information between the two non-profit organizations, Economic Development Group of Wabash County and 85 Hope is transparency. The EDC has nothing to hide, very informative and leading to a survival rate. The 85 Hope, however does not reveal transparency or its financial stand. The two organizations are providing a service to our community, in order to for the community to continue to support them, they need the information provided “where is the money

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