Pottsville Area Development Corp is located in Pottsville, PA. The organization was established in 1987. 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, Pottsville Area Development Corp employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pottsville Area Development Corp 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 12/2022, Pottsville Area Development Corp generated $267.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $255.6k during the year ending 12/2022. While expenses have increased by 10.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS PROMOTION AND REVITALIZATION OF DOWNTOWN POTTSVILLE, PENNSYLVANIA THROUGH LOW-INTEREST REVOLVING LOANS AND BUILDING RENOVATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MANAGEMENT AND ACCOUNTING SERVICES TO THREE 501(C)3 ORGANIZATIONS AND THE POTTSVILLE PARKING AUTHORITY.
ISSUED LOANS TO QUALIFIED BUSINESSES TOTALING $383,125 IN 2022 AND RECEIVED PRINCIPAL REPAYMENTS ON OUTSTANDING LOANS TOTALING $385,158 UPON WHICH INTEREST INCURRED WAS RECEIVED TOTALING $43,598 PRINCIPAL REPAYMENTS WERE USED FOR NEW LOANS.
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $5,737 |
All other contributions, gifts, grants, and similar amounts not included above | $39,403 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $45,140 |
Total Program Service Revenue | $219,500 |
Investment income | $735 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $1,980 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $267,355 |
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. | $56,181 |
Compensation of current officers, directors, key employees. | $16,854 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $59,002 |
Pension plan accruals and contributions | $2,480 |
Other employee benefits | $5,621 |
Payroll taxes | $9,334 |
Fees for services: Management | $0 |
Fees for services: Legal | $2,867 |
Fees for services: Accounting | $3,650 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $240 |
Advertising and promotion | $109 |
Office expenses | $1,702 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $49,647 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $3,428 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $41,916 |
Insurance | $6,971 |
All other expenses | $939 |
Total functional expenses | $255,639 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $958,078 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,507 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,519,099 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $1,036 |
Net Land, buildings, and equipment | $413,941 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,893,661 |
Accounts payable and accrued expenses | $7,725 |
Grants payable | $0 |
Deferred revenue | $150,400 |
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 | $228,551 |
Total liabilities | $386,676 |
Net assets without donor restrictions | $2,506,985 |
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 | $2,893,661 |