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← ENTERPRISE DEVELOPMENT FUND OF ERIE COUNTY INC

Form 990 for tax year 2022

Filed by ENTERPRISE DEVELOPMENT FUND OF ERIE COUNTY INC.

Totals

Total revenue
$583,744
Total expenses
$406,004
Contributions and grants received
$377,250
Grants paid
$0
Program service revenue
$184,088
Investment income
$1,395
Other revenue
$21,011
Total assets, end of year
$4,870,106
Total liabilities, end of year
$4,442,081
Net assets or fund balances, end of year
$428,025
Program services expenses (Part IX)
$387,372
Management and general expenses
$18,632
Fundraising expenses
$0
Program service expenses (Part III)
$387,372

Program services were 95.4% 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.

  • 1f · All other contributions, gifts and grants

    $377,250

  • 2a · Program service revenue: Interest Income-Notes

    total $184,088 · related or exempt $184,088

  • 3 · Investment income

    total $1,395 · related or exempt $1,395

  • 11a · Other revenue: OTHER INCOME

    total $21,011 · related or exempt $21,011

  • 11e · Other revenue, total

    $21,011

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $135,496 · program services $135,496

  • 11b · Fees: legal

    total $12,061 · program services $12,061

  • 11c · Fees: accounting

    total $7,550 · management and general $7,550

  • 19 · Conferences, conventions and meetings

    total $6,861 · management and general $6,861

  • 20 · Interest

    total $35,248 · program services $35,248

  • 22 · Depreciation, depletion and amortization

    total $376 · management and general $376

  • 23 · Insurance

    total $2,250 · management and general $2,250

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $196,431 · program services $196,431

  • 24b · Other expenses: PROPERTY EXPENSE

    total $8,136 · program services $8,136

  • 24c · Other expenses: MISC EXPENSE

    total $1,595 · management and general $1,595

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,361,663 · end of year $1,865,310

  • 3 · Pledges and grants receivable

    end of year $125,000

  • 7 · Other notes and loans receivable

    beginning of year $2,646,212 · end of year $2,871,101

  • 10a · Land, buildings and equipment: cost or other basis

    $17,565

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,870

  • 10c · Land, buildings and equipment, net

    beginning of year $9,071 · end of year $8,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,027 · end of year $12,646

  • 19 · Deferred revenue

    beginning of year $0 · end of year $806,000

  • 24 · Unsecured notes and loans payable

    beginning of year $2,002,634 · end of year $1,873,435

  • 25 · Other liabilities

    beginning of year $1,750,000 · end of year $1,750,000

  • 27 · Net assets without donor restrictions

    beginning of year $250,285 · end of year $428,025

Mission and programs · 2022

Mission

TO ASSIST IN THE REGION'S ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT STRATEGY BY PROVIDING CREDIT, CAPITAL, AND TECHNICAL SUPPORT TO CREATE AND RETAIN JOBS FOR UNDERSERVED POPULATIONS.

Activities or mission (Part I)

THIS ORGANIZATION PROVIDES CREDIT, CAPITAL, AND TECHNICAL SUPPORT TO BUSINESSES TO CREATE AND RETAIN JOBS FOR UNDERSERVED POPULATIONS

  • CREATION OF A LOAN FUND TO ASSIST BUSINESSES TO STIMULATE COMMUNITY AND ECONOMIC DEVELOPMENT AND TO INCREASE EMPLOYMENT IN UNDERSERVED POPULATIONS

    Expenses $387,372 · Revenue $206,494

As filed on the 2022 return.

Listed in Part VII

  • Charles Barber

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Sherry Bauer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William McAndrew

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sarah Giambanco

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Dabreo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terry Holmes

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Karen Thomas

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Hoffman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steve Vennare

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kyra Taylor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Brennan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202343199349312829

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