Form 990 for tax year 2022
Filed by KANE AREA INDUSTRIAL DEVELOPMENT CORP.
Totals
- Total revenue
- $55,754
- Total expenses
- $53,838
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $1,754
- Other revenue
- $54,000
- Total assets, end of year
- $1,357,337
- Total liabilities, end of year
- $19,030
- Net assets or fund balances, end of year
- $1,338,307
- Program services expenses (Part IX)
- $53,838
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $53,838
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
3 · Investment income
total $1,754 · excluded $1,754
-
6a · Gross rents
real property $98,794
-
6b · Less rental expenses
real property $53,054
-
6c · Rental income or loss
real property $45,740
-
6d · Net rental income or loss
total $45,740 · related or exempt $45,740
-
11a · Other revenue: PAYROLL REIMBURSEMENT
total $8,260 · related or exempt $8,260
-
11e · Other revenue, total
$8,260
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $45,115 · program services $45,115
-
10 · Payroll taxes
total $3,268 · program services $3,268
-
11c · Fees: accounting
total $1,183 · program services $1,183
-
13 · Office expenses
total $403 · program services $403
-
23 · Insurance
total $1,269 · program services $1,269
-
24a · Other expenses: OTHER PROFESSIONAL FEES
total $2,600 · program services $2,600
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $97
-
2 · Savings and temporary cash investments
beginning of year $344,712 · end of year $390,004
-
7 · Other notes and loans receivable
end of year $18,500
-
10a · Land, buildings and equipment: cost or other basis
$1,707,085
-
10b · Land, buildings and equipment: accumulated depreciation
$758,349
-
10c · Land, buildings and equipment, net
beginning of year $992,318 · end of year $948,736
-
23 · Secured mortgages and notes payable
end of year $18,500
-
25 · Other liabilities
beginning of year $639 · end of year $530
-
27 · Net assets without donor restrictions
beginning of year $1,336,391 · end of year $1,338,307
Mission and programs · 2022
Mission
TO ASSIST IN THE RECRUITMENT OF NEW BUSINESS AND INDUSTRY AND TO WORK WITH EXISTING BUSINESS AND INDUSTRY TO RETAIN PRESENT LEVELS AND PROVIDE FOR FUTURE GROWTH.
-
PROVIDE A VEHICLE FOR COOPERATIVE PROJECTS, INTERCHANGE OF IDEAS, INTER COMMUNITY COOPERATION, INTERCHANGE OF INDUSTRIAL INFORMATION FOR THE ECONOMICAL DEVELOPMENT AND BETTERMENT OF THE AREA SERVED.
Expenses $53,838 · Revenue $54,000
As filed on the 2022 return.
Listed in Part VII
-
Steve TunallSTEVE TUNALL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Gary RhodesGARY RHODES
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 1
-
Susan Zook WilsonSUSAN ZOOK WILSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Steve PerrySTEVE PERRY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Ed KocjancicED KOCJANCIC
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tom KaseTOM KASE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Crystal KocjancicCRYSTAL KOCJANCIC
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Don PayneDON PAYNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tom GeerTOM GEER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Norm StrotmanNORM STROTMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeannine KlossJEANNINE KLOSS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kathryn KennedyKATHRYN KENNEDY
EXECUTIVE DI
- Total calculated
- $45,115
- From this org
- $39,655
- From related orgs
- $0
- Other
- $5,460
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
KANE AREA REVITALIZATION ENTERPRISE
C3 · COMMERCE · PA
-
KANE CHAMBER OF COMMERCE
C3 · COMMERCE · PA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303179349301620
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