Area Development Foundation Inc
- Assets
- $1.3m
- Revenue
- $433.2k
- Investments
- $0.0
- Employees
- 10
- Location
- Mount Vernon, OH
- Founding
- 07/1957
- Data as of
- 12/2021
- EIN
- 31-6041648
Organization Overview
Area Development Foundation Inc is located in Mount Vernon, OH. The organization was established in 1957. 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 12/2021, Area Development Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Area Development Foundation Inc 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 12/2021, Area Development Foundation Inc generated $433.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $300.6k during the year ending 12/2021. While expenses have increased by 12.0% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING AND ASSISTING INDUSTRIAL AND COMMERCIAL DEVELOPMENTS IN THE MOUNT VERNON AND KNOX COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING AND ASSISTING INDUSTRIAL AND COMMERCIAL DEVELOPMENTS IN THE MOUNT VERNON AND KNOX COUNTY AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Gottke President | OfficerTrustee | 40 | $88,865 |
Mark Ramser Treasurer | OfficerTrustee | 5 | $0 |
Vickie Sant Vice Chair | OfficerTrustee | 5 | $0 |
Greg Sands Member | Trustee | 0 | $0 |
Bruce White Member At Large | Trustee | 1 | $0 |
Gordon Yance Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $86,475 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $143,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $319,135 |
| Total Program Service Revenue | $89,904 |
| Investment income | $10,789 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,324 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $433,152 |
| 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. | $88,865 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,777 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,080 |
| Payroll taxes | $15,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,280 |
| Fees for services: Accounting | $7,422 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,009 |
| Fees for services: Other | $374 |
| Advertising and promotion | $170 |
| Office expenses | $3,958 |
| Information technology | $3,939 |
| Royalties | $0 |
| Occupancy | $3,324 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,380 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $899 |
| Insurance | $1,217 |
| All other expenses | $5,193 |
| Total functional expenses | $300,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,146 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $442,969 |
| 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 | $2,543 |
| Investments—publicly traded securities | $695,862 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,533 |
| Total assets | $1,330,053 |
| Accounts payable and accrued expenses | $5,298 |
| Grants payable | $0 |
| Deferred revenue | $24,625 |
| 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 | $29,923 |
| Net assets without donor restrictions | $1,300,130 |
| 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 | $1,330,053 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Area Development Foundation Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Knox County Foundation Mount Vernon, OH PURPOSE: Personnel Support | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
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 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |