Armstrong County Industrial Development Council
- Assets
- $5.2m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Kittanning, PA
- Founding
- 03/1970
- Data as of
- 06/2024
- EIN
- 25-1452351
Organization Overview
Armstrong County Industrial Development Council is located in Kittanning, PA. The organization was established in 1970. 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. Armstrong County Industrial Development Council 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 06/2024, Armstrong County Industrial Development Council generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $607.8k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HELP FOR THE DEVELOPMENT OF THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LAND AND BUILDING SPACE FOR START UP COMPANIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Baker Executive Di | Trustee | 40 | $0 |
Darin Alviano Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
M And B Services | 6/29/16 | $724,656 |
Senate Engineering Company | 6/29/16 | $360,275 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $850,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $872,034 |
| Total Program Service Revenue | $0 |
| Investment income | $38,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,925 |
| Net Rental Income | $225,649 |
| 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 | $1,898,709 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $302,200 |
| Fees for services: Legal | $23,116 |
| Fees for services: Accounting | $9,610 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,216 |
| Office expenses | $54 |
| Information technology | $0 |
| Royalties | $13,426 |
| 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 | $1,773 |
| Insurance | $16,046 |
| All other expenses | $3,815 |
| Total functional expenses | $607,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,576 |
| Savings and temporary cash investments | $1,634,411 |
| Pledges and grants receivable | $20,767 |
| Accounts receivable, net | $178,971 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $550,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $109,131 |
| Net Land, buildings, and equipment | $2,607,175 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,198,031 |
| Accounts payable and accrued expenses | $27,351 |
| 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 | $697,535 |
| Other liabilities | $0 |
| Total liabilities | $724,886 |
| Net assets without donor restrictions | $4,473,145 |
| 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 | $5,198,031 |