Harristown Development Corporation
- Assets
- $35.7m
- Revenue
- $18.6m
- Investments
- $0.0
- Employees
- 10
- Location
- Harrisburg, PA
- Founding
- 07/1985
- Data as of
- 12/2022
- EIN
- 23-1929262
Organization Overview
Harristown Development Corporation is located in Harrisburg, PA. The organization was established in 1985. 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 12/2022, Harristown Development Corporation employed 10 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Harristown Development Corporation 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 12/2022, Harristown Development Corporation generated $18.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $18.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 8 years. 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
COMBAT URBAN DETERIORATION AND ENHANCE THE QUALITY OF THE SOCIAL, CULTURAL, AND ECONOMIC LIFE OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS INCORPORATED AS A PENNSYLVANIA NONPROFIT CORPORATION FORMED FOR THE PURPOSE OF COMBATING COMMUNITY DETERIORATION; AMELIORATING THE PROBLEMS OF CRIME AND JUVENILE DELINQUENCY; ENHANCING THE QUALITY OF THE SOCIAL, CULTURAL AND ECONOMIC LIFE OF THE COMMUNITY; AND PROMOTING PARTICIPATION IN COMMUNITY DEVELOPMENT. IN ACCORDANCE WITH THE GOALS SET FORTH ABOVE, THE CORPORATION PROVIDES PLANNING, PROPERTY MANAGEMENT, DIRECT AND INDIRECT PARTICIPATION IN THE REDEVELOPMENT AND REVITALIZATION OF THE CENTRAL BUSINESS DISTRICT IN THE CITY OF HARRISBURG, PENNSYLVANIA. THE RESULTS OF THE DIRECT EFFORTS INCLUDE A HOTEL AND CONVENTION CENTER; A RETAIL MALL; COMMERCIAL OFFICES; RESIDENTIAL HOUSING; PARKING GARAGES; A RENOVATED TRANSPORTATION CENTER AND BUS TRANSFER STATION; A SCIENCE CENTER; AND SUBSTANTIAL INFRASTRUCTURE IMPROVEMENTS INCLUDING CURBS, SIDEWALKS, STREETLIGHTS AND SUCH AMENITIES AS TREES AND TRAFFIC PULL-OFFS, ALL DESIGNED TO FURTHER THE BEST INTERESTS OF THE CITIZENS OF THE CITY. THE INDIRECT EFFORTS, PRIMARILY REFINANCING AND PLANNING ASSISTANCE TO PRIVATE DEVELOPERS, HAVE PRODUCED ALMOST TWO HUNDRED HOUSING UNITS AND SEVERAL RENOVATED BUILDINGS CONTAINING STOREFRONTS AND APARTMENTS. THE CORPORATION ACHIEVES ITS OBJECTIVES WITHOUT AWARDING GRANTS OR ALLOCATING FUNDS BEYOND ITS OWN CORPORATE STRUCTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David E Black Chairman | OfficerTrustee | 1 | $0 |
J Marc Kurowski Vice Chair | OfficerTrustee | 1 | $0 |
Daniel J Alderman Director | Trustee | 1 | $0 |
Crystal Brown Director | Trustee | 1 | $0 |
John O Campbell Director | Trustee | 1 | $0 |
Carol P Cocheres Esquire Director | Trustee | 1 | $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 | $17,449,762 |
| Investment income | $228,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$172,849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,623,535 |
| 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. | $1,466,247 |
| Compensation of current officers, directors, key employees. | $1,466,247 |
| 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 | $266,748 |
| Fees for services: Legal | $749 |
| Fees for services: Accounting | $30,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,557 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,905,985 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $750 |
| Interest | $120,880 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $197,643 |
| Insurance | $107,536 |
| All other expenses | $0 |
| Total functional expenses | $18,013,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,417,638 |
| Savings and temporary cash investments | $2,676,274 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $211,510 |
| 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 | $143,226 |
| Net Land, buildings, and equipment | $3,013,350 |
| Investments—publicly traded securities | $6,978,528 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,293,565 |
| Total assets | $35,734,091 |
| Accounts payable and accrued expenses | $1,018,688 |
| Grants payable | $0 |
| Deferred revenue | $710,321 |
| 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 | $3,159,820 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,737,556 |
| Total liabilities | $13,626,385 |
| Net assets without donor restrictions | $22,107,706 |
| 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 | $35,734,091 |