Johnstown Industrial Development Corporation
- Assets
- $5.7m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Johnstown, PA
- Founding
- 05/1998
- Data as of
- 12/2021
- EIN
- 23-2907514
Organization Overview
Johnstown Industrial Development Corporation is located in Johnstown, PA. The organization was established in 1998. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Johnstown Industrial Development Corporation 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 12/2021, Johnstown Industrial Development Corporation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.8% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 27.0% 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
PROMOTION OF ECONOMIC DEVELOPMENT IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCUBATOR/JARI CENTER/RENTAL PROPERTIES - PROVIDES OFFICE SPACE TO QUALIFYING BUSINESSES AT BELOW MARKET RATES.
JOHNSTOWN BUSINESS PARK - A PROGRAM ESTABLISHED TO PURCHASE AND SUBSEQUENTLY DEVELOP LAND AS AN EXPANSION OF THE JOHNSTOWN INDUSTRIAL PARK. THIS EXPANSION LAND IS ALSO TO BE SOLD TO COMPANIES AT REASONABLE PRICES, TO ENABLE THEM TO GROW AND CREATE NEW JOBS IN THE AREA.
JOHNSTOWN INDUSTRIAL PARK,QUEMAHONING INDUSTRIAL PARK, RACP, AND THE MARSHALL RHOADES PROPERTY
OTHER PROGRAM SERVICES INCLUDE THE PROMOTION OF ECONOMIC DEVELOPMENT IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffry D Cramer Chairman | OfficerTrustee | 0.25 | $0 |
Michele Bonerigo Secretary | OfficerTrustee | 0.25 | $0 |
Brenda Fike Asst. Secret | OfficerTrustee | 1 | $0 |
Michele Clapper Asst. Secret | OfficerTrustee | 1 | $0 |
John R Boderocco Vice Chairma | OfficerTrustee | 0.25 | $0 |
Kevin Volk Treasurer | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,884,569 |
| 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 | $2,884,569 |
| Total Program Service Revenue | $159,027 |
| Investment income | $1,669 |
| 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 | $3,050,286 |
| 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 | $6,160 |
| Fees for services: Accounting | $8,625 |
| 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 | $36,528 |
| Travel | $1,159 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $59,842 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,620 |
| Insurance | $24,958 |
| All other expenses | $29,667 |
| Total functional expenses | $3,267,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,534 |
| Savings and temporary cash investments | $76,856 |
| Pledges and grants receivable | $2,175 |
| Accounts receivable, net | $662 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,281,630 |
| Prepaid expenses and deferred charges | $1,715 |
| Net Land, buildings, and equipment | $1,382,797 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,749,369 |
| Accounts payable and accrued expenses | $110,988 |
| Grants payable | $0 |
| Deferred revenue | $30,337 |
| 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 | $2,075,855 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,217,180 |
| Net assets without donor restrictions | $3,532,189 |
| 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 | $5,749,369 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Johnstown Industrial Development Corporation has recieved totaling $24,793.
| Awarding Organization | Amount |
|---|---|
Alleghenies Planning And Development Commission Altoona, PA PURPOSE: VARIOUS | $24,793 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Maryland Manufacturing Service Inc Salisbury, MD | $279,305 | $5,207,545 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |