Seneca Industrial & Economic Development Corp
- Assets
- $1.7m
- Revenue
- $895.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Tiffin, OH
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 34-1414993
Organization Overview
Seneca Industrial & Economic Development Corp is located in Tiffin, OH. The organization was established in 1984. 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, Seneca Industrial & Economic Development Corp employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seneca Industrial & Economic Development Corp 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, Seneca Industrial & Economic Development Corp generated $895.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $584.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Seneca Industrial & Economic Development Corp has awarded 136 individual grants totaling $1,157,216. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR TIFFIN AND SENECA COUNTY, OHIO, BY LEADING, PROMOTING, AND FACILITATING POSITIVE ECONOMIC, COMMUNITY AND DOWNTOWN DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR TIFFIN AND SENECA COUNTY, OHIO, BY LEADING, PROMOTING, AND FACILITATING POSITIVE ECONOMIC, COMMUNITY AND DOWNTOWN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Zak Ceo/president | OfficerTrustee | 60 | $142,794 |
Lillian Schumacher Vice Chairperson | OfficerTrustee | 1 | $0 |
Dean Keller Chairperson | OfficerTrustee | 1 | $0 |
Scott Kromer Treasurer | OfficerTrustee | 1 | $0 |
Aaron Montz Director | Trustee | 1 | $0 |
John Arnold Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $182,396 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $265,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,061 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $555,049 |
| Total Program Service Revenue | $120,992 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $201,089 |
| Net Income from Fundraising Events | $18,222 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $895,353 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,645 |
| 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. | $142,129 |
| Compensation of current officers, directors, key employees. | $14,213 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,042 |
| Pension plan accruals and contributions | $8,232 |
| Other employee benefits | $10,420 |
| Payroll taxes | $23,253 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,458 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,227 |
| Advertising and promotion | $24,591 |
| Office expenses | $47,220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $49,394 |
| Travel | $10,506 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,269 |
| Interest | $3,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,451 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $584,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $988,811 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,064 |
| 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 | $3,929 |
| Net Land, buildings, and equipment | $657,941 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,687,745 |
| Accounts payable and accrued expenses | $45,862 |
| Grants payable | $0 |
| Deferred revenue | $86,257 |
| 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 | $450,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,375 |
| Total liabilities | $584,494 |
| Net assets without donor restrictions | $0 |
| 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 | $1,103,251 |
| Total liabilities and net assets/fund balances | $1,687,745 |
Grants Awarded
Over the last fiscal year, Seneca Industrial & Economic Development Corp has awarded $1,157,216 in support to 136 organizations.
| Grant Recipient | Amount |
|---|---|
GAO RESTORATION LLC | | | $10,000 |
WASHINGTON STREET OUTFITTERS | | | $10,000 |
TANGLES BY JILL | | | $10,000 |
FLEETWINDS INC | | | $10,000 |
SPRIDGE LLC | | | $10,000 |
RED RAVEN ENTERPRISE LLC | | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seneca Industrial & Economic Development Corp has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: TO SUPPORT THE PRESIDENTIAL PATHWAYS PROGRAM | $10,000 |
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 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
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 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
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 |