Adams County Economic Development Corporation
- Assets
- $3.1m
- Revenue
- $578.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Gettysburg, PA
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 23-2165947
Organization Overview
Adams County Economic Development Corporation is located in Gettysburg, PA. The organization was established in 1993. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Adams County Economic Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adams County Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Adams County Economic Development Corporation generated $578.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.6% each year . All expenses for the organization totaled $498.6k during the year ending 12/2021. While expenses have increased by 23.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF THE ADAMS COUNTY ECONOMIC DEVELOPMENT CORPORATION TO DEVELOP AND IMPLEMENT CREATIVE COMMUNITY-BASED STRATEGIES TO ENHANCE ECONOMIC OPPORTUNITY AND FOSTER A DYNAMIC FRAMEWORK FOR BALANCED GROWTH AND DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S AIM IS TO ASSIST WITH JOB CREATION AND JOB SUSTAINING PROJECTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Fitzpatrick President | Officer | 40 | $87,907 |
Kaycee Kemper Vice Preside | Officer | 40 | $72,823 |
Mike Cogliano Chair | OfficerTrustee | 1.5 | $0 |
Pete Martin Vice-Chair | OfficerTrustee | 1.5 | $0 |
Shanon Toal Secretary/tr | OfficerTrustee | 1.5 | $0 |
Nick Bair Board Member | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $272,489 |
| All other contributions, gifts, grants, and similar amounts not included above | $200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,689 |
| Total Program Service Revenue | $262,946 |
| Investment income | $34,014 |
| 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 | $578,405 |
| 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. | $160,730 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,517 |
| Pension plan accruals and contributions | $10,486 |
| Other employee benefits | $32,542 |
| Payroll taxes | $13,839 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,636 |
| Fees for services: Accounting | $20,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,264 |
| Office expenses | $10,373 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,047 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,290 |
| Interest | $48,233 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,654 |
| Insurance | $13,745 |
| All other expenses | $0 |
| Total functional expenses | $498,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,493 |
| Savings and temporary cash investments | $460,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,851 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,297,125 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,883 |
| Net Land, buildings, and equipment | $1,147,758 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,137,424 |
| Accounts payable and accrued expenses | $11,604 |
| Grants payable | $0 |
| Deferred revenue | $1,400 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,483 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,600,295 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,620,782 |
| Net assets without donor restrictions | $1,516,642 |
| 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 | $3,137,424 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Adams County Economic Development Corporation has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Southcentral Workforce Investment Board Harrisburg, PA PURPOSE: DCED ENGAGE GRANT | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
4mycity Inc Taneytown, MD | $269,763 | $70,588,044 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Columbia Association Inc Columbia, MD | $168,635,825 | $73,239,829 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Kennedy Krieger Education And Community Services Inc Baltimore, MD | $14,340,565 | $48,121,720 |
Mosaic Community Services Inc Timonium, MD | $34,184,592 | $47,201,258 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |