Parkersburg - Wood County Area Development Corporation
- Assets
- $350.9k
- Revenue
- $18.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Parkersburg, WV
- Founding
- 11/1979
- Data as of
- 06/2024
- 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 06/2024, 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 06/2024, Parkersburg - Wood County Area Development Corporation generated $18.2k 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 (28.4%) each year. All expenses for the organization totaled $352.6k 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
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Kerr Piersol Executive Di | 40 | $139,456 | |
Susan Barber Treasurer | OfficerTrustee | 0 | $0 |
Tom Betz Director | Trustee | 0 | $0 |
Greg Bolton Trustee / Di | Trustee | 0 | $0 |
Patrick Bryan Trustee / Di | Trustee | 0 | $0 |
Tim Coffman Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $147,257 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $162,368 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $309,625 |
| Total Program Service Revenue | $0 |
| Investment income | $11,055 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$302,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,218 |
| 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 | $233,489 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,005 |
| Payroll taxes | $18,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,660 |
| Fees for services: Accounting | $8,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,500 |
| Advertising and promotion | $23,099 |
| Office expenses | $9,978 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,565 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,826 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,401 |
| All other expenses | $0 |
| Total functional expenses | $352,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,453 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,471 |
| 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 | $350,924 |
| Accounts payable and accrued expenses | $4,778 |
| 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 | $4,778 |
| Net assets without donor restrictions | $346,146 |
| 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 | $350,924 |