Pottstown Area Industrial Development Inc
- Assets
- $118.6k
- Revenue
- $556.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Pottstown, PA
- Founding
- 06/1982
- Data as of
- 12/2023
- EIN
- 23-1878840
Organization Overview
Pottstown Area Industrial Development Inc is located in Pottstown, PA. The organization was established in 1982. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Pottstown Area Industrial Development Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pottstown Area Industrial Development Inc 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 12/2023, Pottstown Area Industrial Development Inc generated $556.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $524.8k during the year ending 12/2023. While expenses have increased by 7.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
PAID'S MISSION IS TO DEVELOP, COORDINATE AND IMPLEMENT AN OVERALL ECONOMIC DEVELOPMENT STRATEGY FOR THE BOROUGH OF POTTSTOWN DESIGNED TO STIMULATE INVESTMENT WHICH WILL MAINTAIN AND ENHANCE THE TAX BASE; RETAIN AND CREATE JOB OPPORTUNITIES; AND RESTORE AND UTILIZE OR REMOVE UNDER-UTILIZED BUILDINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF CORPORATION IS TO PROMOTE ECONOMIC INVESTMENT AND DEVELOPMENT IN THE BOROUGH OF POTTSTOWN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Lee-Clark Executive Dir/ Secretary | OfficerTrustee | 40 | $103,237 |
Justin Keller Immediate Past President | OfficerTrustee | 1 | $0 |
Rebecca Swanson Until523 Past President | OfficerTrustee | 1 | $0 |
Stephen Rodriguez President | OfficerTrustee | 1 | $0 |
Aliyah Stranger Start1123 Vice President | OfficerTrustee | 1 | $0 |
Eileen Dautrich Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $288,284 |
| All other contributions, gifts, grants, and similar amounts not included above | $256,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $544,944 |
| Total Program Service Revenue | $10,936 |
| Investment income | $892 |
| 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 | $556,772 |
| 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. | $127,472 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $78,445 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,096 |
| Payroll taxes | $16,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6 |
| Fees for services: Accounting | $14,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,253 |
| Advertising and promotion | $44,111 |
| Office expenses | $9,706 |
| Information technology | $866 |
| 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 | $6,765 |
| Interest | $0 |
| Payments to affiliates | $991 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,272 |
| All other expenses | $105,784 |
| Total functional expenses | $524,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,346 |
| Savings and temporary cash investments | $32,017 |
| 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 | $0 |
| 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 | $47,190 |
| Total assets | $118,553 |
| Accounts payable and accrued expenses | $0 |
| 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 | $26,014 |
| Total liabilities | $26,014 |
| Net assets without donor restrictions | -$43,515 |
| Net assets with donor restrictions | $136,054 |
| 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 | $118,553 |