Progress Development Corp
- Assets
- $988.7k
- Revenue
- $120.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Port Jervis, NY
- Founding
- 00/0000
- Data as of
- 09/2023
- EIN
- 14-1622673
Organization Overview
Progress Development Corp is located in Port Jervis, NY. The organization was established in 0000. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Progress Development Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2023, Progress Development Corp generated $120.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $26.7k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE GENERAL PURPOSE FOR WHICH THE ORGANIZATION WAS FORMED INCLUDES RELIEVING AND REDUCING ADULT UNEMPLOYMENT; PROMOTING AND PROVIDING FOR ADDITIONAL AND MAXIMUM EMPLOYMENT; BETTERING AND MAINTAINING JOB OPPORTUNITIES; AND PROMOTING INSTRUCTION OR TRAINING OF INDIVIDUALS TO IMPROVE OR DEVELOP THEIR CAPABILITIES FOR SUCH JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUNCTIONS OF THE ORGANIZATION INCLUDE: THE CARRYING ON OF SCIENTIFIC RESEARCH FOR THE PURPOSE OF AIDING THE TERRITORY IN WHICH ITS OPERATIONS ARE PRINCIPALLY TO BE CONDUCTED, BY ATTRACTING NEW BUSINESS AND INDUSTRY TO SUCH AREAS, ENCOURAGING THE DEVELOPMENT OF, OR RETENTION OF, BUSINESS AND INDUSTRY IN SUCH TERRITORY, LESSENING THE BURDENS OF GOVERNMENT, AND ACTING IN THE PUBLIC INTEREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Decker Director | Trustee | 5 | $0 |
Kevin Kean Vice Preside | OfficerTrustee | 5 | $0 |
Richard K Roberts Secretary/tr | OfficerTrustee | 5 | $0 |
John Russell President | OfficerTrustee | 5 | $0 |
Michael D Talmadge Director | Trustee | 5 | $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 | $120,038 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,039 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,702 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $24,008 |
| Total functional expenses | $26,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $971,952 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,713 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $988,665 |
| Accounts payable and accrued expenses | $2,699 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,699 |
| Net assets without donor restrictions | $985,966 |
| 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 | $988,665 |