Clarion County Economic Development Corporation
- Assets
- $1.9m
- Revenue
- $48.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Clarion, PA
- Founding
- 05/1993
- Data as of
- 12/2021
- EIN
- 25-1237688
Organization Overview
Clarion County Economic Development Corporation is located in Clarion, PA. The organization was established in 1993. 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. As of 12/2021, Clarion County Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarion County Economic 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, Clarion County Economic Development Corporation generated $48.8k 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 (10.5%) each year. All expenses for the organization totaled $271.2k 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
THE CORPORATION IS ENGAGED IN PROMOTING ECONOMIC DEVELOPMENT IN CLARION COUNTY. FUNCTIONS INCLUDE ASSISTING CLIENTS IN OBTAINING FINANCING AND CONSTRUCTING AND MAINTAINING INDUSTRIAL PARKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTING CLIENTS IN OBTAINING FINANCING AND CONSTRUCTING AND MAINTAINING INDUSTRIAL PARKS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Milissa Bauer Secretary/tr | Officer | $0 | |
Dr Pamela Gent Vice Preside | Officer | $0 | |
Jason L Hansford President | Officer | $0 | |
Steven Davis Director | Trustee | $0 | |
Keith Decker Director | Trustee | $0 | |
Terry George Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $167,127 |
| 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 | $186,127 |
| Total Program Service Revenue | $4,675 |
| Investment income | $3,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$157,326 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,810 |
| 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 | $90,281 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,000 |
| Payroll taxes | $7,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $810 |
| Fees for services: Accounting | $4,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,808 |
| Advertising and promotion | $4,473 |
| Office expenses | $5,432 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,835 |
| Travel | $909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,603 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,798 |
| Insurance | $4,536 |
| All other expenses | $0 |
| Total functional expenses | $271,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,035 |
| Savings and temporary cash investments | $649,496 |
| 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 | $141,546 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,116,605 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,917,682 |
| Accounts payable and accrued expenses | $0 |
| 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 | $324,620 |
| Total liabilities | $324,620 |
| Net assets without donor restrictions | $1,176,023 |
| Net assets with donor restrictions | $417,039 |
| 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 | $1,917,682 |
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|---|---|---|
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T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |