Mckean County Industrial Development Council Inc is located in Smethport, PA. The organization was established in 1975. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mckean County Industrial Development Council Inc 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 06/2021, Mckean County Industrial Development Council Inc generated $21.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $10.8k during the year ending 06/2021. 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
TO PROMOTE DEVELOPMENT AND EXPANSION OF BUSINESSES, INDUSTRY, AND COMMERCE WITHIN MCKEAN COUNTY, PENNSYLVANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE DEVELOPMENT AND EXPANSION OF BUSINESS, INDUSTRY, AND COMMERCE WITHIN MCKEAN COUNTY, PENNYSLVANIA BY OFFERING LOW INTEREST RATE LOANS TO AREA BUSINESSES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alicia Dankesreiter President | OfficerTrustee | 1 | $0 |
Crystal Kocjancic Secretary | OfficerTrustee | 1 | $0 |
Tim Asinger Member | Trustee | 1 | $0 |
Jim Masone Member | Trustee | 1 | $0 |
Devon Kloss Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $16,947 |
Investment income | $738 |
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 | $21,431 |
Statement of Expenses | |
---|---|
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 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 | $61 |
Fees for services: Accounting | $6,516 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $53 |
Office expenses | $0 |
Information technology | $0 |
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 | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,365 |
Insurance | $1,795 |
All other expenses | $0 |
Total functional expenses | $10,790 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $189,756 |
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 | $171,950 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $888 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $371,463 |
Accounts payable and accrued expenses | $3,305 |
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 | $0 |
Total liabilities | $3,305 |
Net assets without donor restrictions | $0 |
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 |
Total liabilities and net assets/fund balances | $368,158 |
Over the last fiscal year, we have identified 1 grants that Mckean County Industrial Development Council Inc has recieved totaling $5,200.
Awarding Organization | Amount |
---|---|
North Central Pennsylvania Regional Planning And Development Commi Ridgway, PA PURPOSE: Encourage regional coordination of economic development efforts | $5,200 |
Organization Name | Assets | Revenue |
---|---|---|
Community Action Commission Of Fayette County Washington Court House, OH | $10,620,828 | $9,688,038 |
Downtown Cleveland Alliance Cleveland, OH | $4,884,612 | $9,424,862 |
New Jersey Community Development Corporation Inc Paterson, NJ | $38,005,348 | $12,337,768 |
Allegheny Conference On Community Development Pittsburgh, PA | $14,597,444 | $7,655,898 |
Maryland Rural Development Corporation Annapolis, MD | $2,490,801 | $9,297,615 |
Religious Coalition For Emergency Human Needs In Frederick County Frederick, MD | $4,940,518 | $9,853,659 |
Campus Partners For Community Urban Redevelopment Columbus, OH | $180,909,775 | $6,681,454 |
G M N Tri-County Community Action Committee Inc Caldwell, OH | $4,898,315 | $8,954,404 |
Fifth Avenue Association Business Improvement District Inc New York, NY | $1,371,227 | $6,747,998 |
Lakeside Association Lakeside, OH | $18,007,265 | $9,409,090 |
Alloy Development Co Inc Cincinnati, OH | $4,726,609 | $7,810,614 |
Fifth Avenue Committee Incorporated Brooklyn, NY | $7,015,493 | $7,933,714 |