Kane Area Industrial Development Corp
- Assets
- $1.3m
- Revenue
- $75.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Kane, PA
- Founding
- 02/1989
- Data as of
- 12/2021
- EIN
- 25-1420090
Organization Overview
Kane Area Industrial Development Corp, operating under the name Kaidc, is located in Kane, PA. The organization was established in 1989. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Kaidc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Kaidc generated $75.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $71.0k 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
TO ASSIST IN THE RECRUITMENT OF NEW BUSINESS AND INDUSTRY AND TO WORK WITH EXISTING BUSINESS AND INDUSTRY TO RETAIN PRESENT LEVELS AND PROVIDE FOR FUTURE GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A VEHICLE FOR COOPERATIVE PROJECTS, INTERCHANGE OF IDEAS, INTER COMMUNITY COOPERATION, INTERCHANGE OF INDUSTRIAL INFORMATION FOR THE ECONOMICAL DEVELOPMENT AND BETTERMENT OF THE AREA SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Kennedy Executive Di | Officer | 40 | $57,757 |
Gary Rhodes Vice Preside | OfficerTrustee | 1 | $0 |
Susan Zook Wilson Secretary | OfficerTrustee | 1 | $0 |
Steve Perry Treasurer | OfficerTrustee | 1 | $0 |
Steve Tunall President | OfficerTrustee | 1 | $0 |
Ed Kocjancic Board Member | Trustee | 1 | $0 |
Financial Statements
| 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 | $18,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,500 |
| Total Program Service Revenue | $0 |
| Investment income | $2,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,204 |
| 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 | $75,012 |
| 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. | $63,217 |
| 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 | $4,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,183 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $400 |
| Office expenses | $249 |
| 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 | $0 |
| Insurance | $1,268 |
| All other expenses | $0 |
| Total functional expenses | $70,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $344,712 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $992,318 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,337,030 |
| 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 | $639 |
| Total liabilities | $639 |
| Net assets without donor restrictions | $1,336,391 |
| 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 | $1,337,030 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kane Area Industrial Development Corp has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
West Penn Power Sustainable Energy Fund Greensburg, PA PURPOSE: OUTREACH | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
York County Economic Alliance York, PA | $4,435,375 | $9,671,986 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
Greater Wilkes-Barre Industrial Fund Inc Wilkesbarre, PA | $1,685,287 | $7,409,722 |
Broad Hollow Bioscience Park Inc Farmingdale, NY | $30,625,721 | $3,689,454 |
Better Business Bureau Of Metropolitan New York Inc New York, NY | $2,973,168 | $5,685,810 |
Delaware Innovation Space Inc Wilmington, DE | $37,512,431 | $6,834,996 |
Ohio Community Development Finance Fund Columbus, OH | $57,278,842 | $7,712,446 |
Maryland Mep Inc Columbia, MD | $556,379 | $4,266,915 |
New York Society Of Security Analysts Inc New York, NY | $12,287,632 | $4,837,133 |
Better Business Bureau Inc Amherst, NY | $5,688,613 | $4,388,157 |