Ashtabula County 503 Corporation
- Assets
- $4.6m
- Revenue
- $779.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Jefferson, OH
- Founding
- 03/1987
- Data as of
- 09/2022
- EIN
- 34-1405882
Organization Overview
Ashtabula County 503 Corporation is located in Jefferson, OH. The organization was established in 1987. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ashtabula County 503 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 09/2022, Ashtabula County 503 Corporation generated $779.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $141.5k during the year ending 09/2022. 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
THE ORGANIZATION OBTAINS GRANTS TO FUND LOW-INTEREST LOANS MADE TO PROMOTE JOB DEVELOPMENT IN THE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAKES LOANS PURSUANT TO THE SMALL BUSINESS ADMINISTRATION LOAN PROGRAMS AND ADMINISTERS FEDERAL AND STATE GRANT FUNDS ESTABLISHED IN A R.L.F. TO PROVIDE LOANS TO BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teressa Ball Vice Preside | OfficerTrustee | $0 | |
Ford Behm Trustee | Trustee | $0 | |
Jerome Brockway President | OfficerTrustee | $0 | |
Ryan Cochran Trustee | Trustee | $0 | |
J P Ducro Trustee | Trustee | $0 | |
Jodie Hitchcock Treasurer | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $603,778 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $603,778 |
| Total Program Service Revenue | $175,928 |
| Investment income | $0 |
| 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 | $779,706 |
| 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 | $77,163 |
| Pension plan accruals and contributions | $2,493 |
| Other employee benefits | $0 |
| Payroll taxes | $7,757 |
| Fees for services: Management | $9,846 |
| Fees for services: Legal | $2,034 |
| Fees for services: Accounting | $7,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,091 |
| Office expenses | $7,686 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $180 |
| Travel | $608 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,186 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,485 |
| All other expenses | $16,213 |
| Total functional expenses | $141,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $291,036 |
| Savings and temporary cash investments | $1,363,831 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $881 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,979,920 |
| 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 | $4,635,668 |
| Accounts payable and accrued expenses | $4,809 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $88,943 |
| Other liabilities | $0 |
| Total liabilities | $98,752 |
| Net assets without donor restrictions | $286,060 |
| Net assets with donor restrictions | $4,250,856 |
| 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 | $4,635,668 |