Downtown Bedford Inc
- Assets
- $170.1k
- Revenue
- $201.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Bedford, PA
- Founding
- 04/2002
- Data as of
- 12/2021
- EIN
- 25-1893465
Organization Overview
Downtown Bedford Inc is located in Bedford, PA. The organization was established in 2002. 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, Downtown Bedford Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Bedford Inc 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, Downtown Bedford Inc generated $201.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $136.5k 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 BUSINESS AND ACTIVITIES IN THE BUSINESS DISTRICT OF BEDFORD, PA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED ACTIVITES IN BEDFORD BUSINESS AREA, OVERSAW STREETSCAPE REVITALIZATION PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larhonda Batzel Secretary | Officer | 4 | $0 |
Juli Gonsman Vice Chair | Officer | 4 | $0 |
Michael Meehan Chairman | Officer | 4 | $0 |
Bill Kurtycz Treasurer | Officer | 4 | $0 |
Megan Bardell Board | Trustee | 1 | $0 |
Allen Haar Board | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,827 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $101,907 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,232 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,966 |
| Total Program Service Revenue | $33,918 |
| Investment income | $65 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $43,965 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $201,914 |
| 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 | $71,293 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,716 |
| Office expenses | $3,743 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $758 |
| Interest | $9 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $500 |
| Insurance | $3,934 |
| All other expenses | $2,978 |
| Total functional expenses | $136,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,154 |
| Savings and temporary cash investments | $30,927 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $170,081 |
| Accounts payable and accrued expenses | $4,850 |
| Grants payable | $0 |
| Deferred revenue | $2,000 |
| 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 | $0 |
| Total liabilities | $6,850 |
| Net assets without donor restrictions | $163,231 |
| 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 | $170,081 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Downtown Bedford Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Allstate Foundation Northbrook, IL PURPOSE: AGENT - INDIVIDUAL HH GRANT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
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 |