Indiana County Development Corp 31 South Carpenter Avenue is located in Indiana, PA. The organization was established in 1964. According to its NTEE Classification (S30) the organization is classified as: 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. Indiana County Development Corp 31 South Carpenter Avenue 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, Indiana County Development Corp 31 South Carpenter Avenue generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. 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
PROMOTE ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT EXPENSES TO PROMOTE ECONOMIC DEVELOPMENT IN INDIANA COUNTY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Byron Stauffer Executive Di | Trustee | 40 | $128,750 |
Dennis Bray Vice Preside | OfficerTrustee | 1 | $0 |
Richard Clawson Secretary-Tr | OfficerTrustee | 1 | $0 |
Joseph Reschini Assistant Tr | OfficerTrustee | 1 | $0 |
James Wiley President | OfficerTrustee | 2 | $0 |
David G Antolik Board Memebe | Trustee | 1 | $0 |
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 | $121,040 |
Investment income | $524 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $438 |
Net Rental Income | $1,651,787 |
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 | $1,850,586 |
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. | $128,750 |
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 | $29,545 |
Payroll taxes | $10,052 |
Fees for services: Management | $50,000 |
Fees for services: Legal | $35,451 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,528 |
Advertising and promotion | $0 |
Office expenses | $204 |
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 | $519,525 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $591,294 |
Insurance | $30,819 |
All other expenses | $47,674 |
Total functional expenses | $2,226,019 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $125 |
Savings and temporary cash investments | $1,055,021 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,112,308 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,931 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $28,226,469 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $31,398,854 |
Accounts payable and accrued expenses | $418,763 |
Grants payable | $0 |
Deferred revenue | $143,207 |
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 | $5,196,000 |
Unsecured mortgages and notes payable | $10,403,222 |
Other liabilities | $0 |
Total liabilities | $16,161,192 |
Net assets without donor restrictions | $15,237,662 |
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 | $31,398,854 |
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