Beaver County Corporation For Economic Development
- Assets
- $30.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Beaver, PA
- Founding
- 05/1986
- Data as of
- 06/2024
- EIN
- 25-1450625
Organization Overview
Beaver County Corporation For Economic Development is located in Beaver, PA. The organization was established in 1986. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Beaver County Corporation For Economic Development employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaver County Corporation For Economic Development 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 06/2024, Beaver County Corporation For Economic Development generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $1.9m during the year ending 06/2024. While expenses have increased by 1.0% per year over the past 9 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.
Since 2021, Beaver County Corporation For Economic Development has awarded 75 individual grants totaling $1,805,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
CED'S MISSION IS TO ENCOURAGE JOB CREATION AND PRIVATE INVESTMENT IN BEAVER COUNTY BY: ASSISTING IN OR UNDERTAKING THE DEVELOPMENT OF SITES AND STRUCTURES IN STRATEGIC LOCATIONS FOR VALUE-ADDED COMPANIES; OPERATING OR ACCESSING FINANCING PROGRAMS FOR VALUE-ADDED COMPANIES; AND, ASSISTING IN OR UNDERTAKING SPECIAL INITIATIVES THAT HAVE A SIGNIFICANT COMMUNITY IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROMOTES AND ASSISTS ECONOMIC REVITALIZATION IN BEAVER COUNTY THROUGH ITS DEVELOPMENT OF INDUSTRIAL PARKS AND FACILITIES AND BUSINESS FINANCING. THE CORPORATION'S CURRENT INDUSTRIAL PARKS AND FACILITIES INCLUDE 1) ALIQUIPPA INDUSTRIAL PARK, 2) MONACA COMMERCE CENTER, 3) 1200 AIRPORT ROAD, 4) WESTGATE BUSINESS PARK, 5) CREEKSIDE SPRINGS, AND 6) 1317 7TH AVE. PROGRAM SERVICE EXPENSES INCLUDE LAND IMPROVEMENTS, PROPERTY TAXES, AND OTHER COSTS ASSOCIATED WITH THE DEVELOPMENT AND OPERATION OF THESE SITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carey Mcdougall Chair | OfficerTrustee | 1 | $0 |
Carolyn Renninger Secretary | OfficerTrustee | 1 | $0 |
Joe Bevevino Treasurer | OfficerTrustee | 1 | $0 |
Dr Melvin Steals Director | Trustee | 1 | $0 |
Jack Manning Director | Trustee | 1 | $0 |
Daniel Camp Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Uhl Construction Co Construction | 6/29/24 | $904,273 |
R&r Pipeline Construction And Repair In Construction | 6/29/24 | $355,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,650 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,251,440 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,273,090 |
| Total Program Service Revenue | $270,529 |
| Investment income | $186,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $219,618 |
| 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 | $1,949,594 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| 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. | $144,816 |
| Compensation of current officers, directors, key employees. | $72,408 |
| Compensation to disqualified persons | $218,583 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $32,108 |
| Other employee benefits | $88,304 |
| Payroll taxes | $27,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,251 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,245 |
| Advertising and promotion | $90,931 |
| Office expenses | $14,699 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,978 |
| Travel | $3,817 |
| 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 | $14,065 |
| All other expenses | $773 |
| Total functional expenses | $1,911,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,096,373 |
| Pledges and grants receivable | $770,788 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,836,818 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $65,321 |
| Net Land, buildings, and equipment | $16,172,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,941,458 |
| Accounts payable and accrued expenses | $15,132 |
| Grants payable | $0 |
| Deferred revenue | $6,155 |
| 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 | $1,517,411 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,468 |
| Total liabilities | $1,570,166 |
| Net assets without donor restrictions | $24,773,405 |
| Net assets with donor restrictions | $4,597,887 |
| 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 | $30,941,458 |
Grants Awarded
Over the last fiscal year, Beaver County Corporation For Economic Development has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHAOTIK JAVA PURPOSE: BUSINESS DISTRICT INITIATIVE GRANTS | $10,000 |
HONEY SO GOOD LLC PURPOSE: BUSINESS DISTRICT INITIATIVE GRANTS | $10,000 |
QUALITY TIME & CARRY OUT LLC PURPOSE: BUSINESS DISTRICT INITIATIVE GRANTS | $10,000 |
CRUSH BAR LLC PURPOSE: BUSINESS DISTRICT INITIATIVE GRANTS | $10,000 |