Parkersburg - Wood County Area Development Corporation
- Assets
- $685.2k
- Revenue
- $241.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Parkersburg, WV
- Founding
- 11/1979
- Data as of
- 06/2022
- EIN
- 31-0965347
Organization Overview
Parkersburg - Wood County Area Development Corporation is located in Parkersburg, WV. The organization was established in 1979. 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. As of 06/2022, Parkersburg - Wood County Area Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parkersburg - Wood County Area Development Corporation 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 06/2022, Parkersburg - Wood County Area Development Corporation generated $241.7k 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 (5.9%) each year. All expenses for the organization totaled $267.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AREA BUSINESSES WITH THE OPPORTUNITY TO DEVELOP THROUGH A LOW INTEREST LOAN PROGRAM INVOLVING THE WV ECONOMIC DEVELOPMENT AUTHORITY, LOCAL BANKS AND PARKERSBURG WOOD COUNTY AREA DEVELOPMENT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AREA BUSINESSES WITH THE OPPORTUNITY TO DEVELOP THROUGH A LOW INTEREST LOAN PROGRAM INVOLVING THE WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, LOCAL BANKS AND THE PARKERSUBRG WOOD COUNTY AREA DEVELOPMENT CORPORATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Kerr Piersol Executive Di | 40 | $143,699 | |
Susan Barber Treasurer | OfficerTrustee | 0 | $0 |
Chad Mildren Secretary | OfficerTrustee | 2 | $0 |
Harry Silvis Chairman | OfficerTrustee | 2 | $0 |
Ryan Taylor Vice Chairma | OfficerTrustee | 2 | $0 |
Mayor Dale Baumgartner Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $112,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $128,636 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $240,636 |
| Total Program Service Revenue | $0 |
| Investment income | $400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $241,697 |
| 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 | $188,394 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,663 |
| Payroll taxes | $14,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,766 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,236 |
| Office expenses | $20,063 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,353 |
| 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 | $3,360 |
| All other expenses | $0 |
| Total functional expenses | $267,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,969 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,500 |
| 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 | $469,745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $685,214 |
| Accounts payable and accrued expenses | $1,063 |
| 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 | $0 |
| Total liabilities | $1,063 |
| Net assets without donor restrictions | $684,151 |
| 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 | $685,214 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Parkersburg - Wood County Area Development Corporation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Ross Foundation Inc Parkersburg, WV PURPOSE: FUNDS FOR THE MATCH OF THE FEASIBILITY STUDY FOR AN INCUBATOR IN DOWNTOWN PARKERSBURG | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
4mycity Inc Taneytown, MD | $269,763 | $70,588,044 |
Columbia Association Inc Columbia, MD | $168,635,825 | $73,239,829 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Kennedy Krieger Education And Community Services Inc Baltimore, MD | $14,340,565 | $48,121,720 |
Mosaic Community Services Inc Timonium, MD | $34,184,592 | $47,201,258 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Hampton Roads Community Action Program Inc Newport News, VA | $4,977,691 | $24,100,051 |