Skagway Development Corporation
- Assets
- $181.5k
- Revenue
- $265.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Skagway, AK
- Founding
- 08/2002
- Data as of
- 12/2022
- EIN
- 92-0178115
Organization Overview
Skagway Development Corporation is located in Skagway, AK. The organization was established in 2002. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skagway Development Corporation 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 12/2022, Skagway Development Corporation generated $265.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $280.5k during the year ending 12/2022. While expenses have increased by 18.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTED ECONOIC DEVELOPMENT ACTIVITIES IN SKAGWAY, ALASKA, BY OFFERING VARIOUS RESOURCES TO LOCAL BUSINESSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED ECONOMIC DEVELOPMENT ACTIVITIES IN SKAGWAY, ALASKA, BY OFFEREING VARIOUS RESOURCES TO LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cori Giacomazzi Vice President | 50 | $0 | |
Timothy Bourcy President | 12 | $0 | |
Bruce Schindler Treasurer | 25 | $0 | |
Julene Brown Secretary | 50 | $0 | |
Kaitlyn Jared Executive Director | 40 | $52,940 | |
Charles Doland Member At Large | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $105 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $181,487 |
| All other contributions, gifts, grants, and similar amounts not included above | $83,869 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $265,461 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $338 |
| Net Gain/Loss on Asset Sales | $20 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $265,846 |
| 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. | $89,055 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100 |
| Fees for services: Accounting | $250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,673 |
| Advertising and promotion | $0 |
| Office expenses | $1,401 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,750 |
| Travel | $2,723 |
| 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 | $277 |
| Insurance | $2,895 |
| All other expenses | $0 |
| Total functional expenses | $280,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,219 |
| Savings and temporary cash investments | $83,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $414 |
| 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 | $181,486 |
| Accounts payable and accrued expenses | $0 |
| 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 | $16,368 |
| Total liabilities | $16,368 |
| 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 | $165,118 |
| Total liabilities and net assets/fund balances | $181,486 |