Geer Corporation
- Assets
- $2.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 12
- Location
- Canaan, CT
- Founding
- 12/1989
- Data as of
- 09/2022
- EIN
- 06-1483243
Organization Overview
Geer Corporation is located in Canaan, CT. The organization was established in 1989. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 09/2023, Geer Corporation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geer Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Geer Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.2m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MANAGEMENT OVERSIGHT TO AFFILIATED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GEER CORPORATION PROVIDES MANAGEMENT OVERSIGHT TO THE FOUR OTHER AFFILIATED ORGANIZATIONS. THIS INCLUDES FINANCE, STRATEGIC AND OPERATIONAL PLANNING, DEVELOPMENT AND SUPERVISION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Leifert Chair | OfficerTrustee | 0.5 | $0 |
Richard Solan 1st Vice Chair | OfficerTrustee | 0.5 | $0 |
James Sok Treasurer (until 1/2023) | OfficerTrustee | 0.5 | $0 |
Eileen Fox Secretary | OfficerTrustee | 0.5 | $0 |
Edward Forfa Director (until 3/2023) | Trustee | 0.5 | $0 |
Dennis J Kobylarz MD Director (until 6/2023) | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $920,979 |
| Investment income | $610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,237 |
| Net Gain/Loss on Asset Sales | $404,305 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,357,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $286,494 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $526,538 |
| Pension plan accruals and contributions | $4,092 |
| Other employee benefits | $132,513 |
| Payroll taxes | $63,788 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,268 |
| Fees for services: Lobbying | $10,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,359 |
| Advertising and promotion | $600 |
| Office expenses | $11,952 |
| Information technology | $17,657 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,863 |
| Total functional expenses | $1,170,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,443 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,970 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,007,356 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,512 |
| Other assets | $1,105,846 |
| Total assets | $2,226,127 |
| Accounts payable and accrued expenses | $98,783 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $687,532 |
| Unsecured mortgages and notes payable | $10,043 |
| Other liabilities | $6,816 |
| Total liabilities | $803,174 |
| Net assets without donor restrictions | $1,422,953 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,226,127 |