Form 990 for tax year 2023
Filed by ENTERPRISE DEVELOPMENT FUND OF ERIE COUNTY INC.
Totals
- Total revenue
- $807,119
- Total expenses
- $172,620
- Contributions and grants received
- $602,000
- Grants paid
- $0
- Program service revenue
- $181,621
- Investment income
- $3,565
- Other revenue
- $19,933
- Total assets, end of year
- $5,012,110
- Total liabilities, end of year
- $3,949,586
- Net assets or fund balances, end of year
- $1,062,524
- Program services expenses (Part IX)
- $154,535
- Management and general expenses
- $18,085
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $154,535
Program services were 89.5% 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
$602,000
-
2a · Program service revenue: Interest Income-Notes
total $181,621 · related or exempt $181,621
-
3 · Investment income
total $3,565 · related or exempt $3,565
-
11a · Other revenue: OTHER INCOME
total $19,933 · related or exempt $19,933
-
11e · Other revenue, total
$19,933
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $138,250 · program services $138,250
-
11b · Fees: legal
total -$1,381 · program services -$1,381
-
11c · Fees: accounting
total $8,100 · management and general $8,100
-
19 · Conferences, conventions and meetings
total $5,791 · management and general $5,791
-
20 · Interest
total $40,064 · program services $40,064
-
22 · Depreciation, depletion and amortization
total $377 · management and general $377
-
23 · Insurance
total $2,250 · management and general $2,250
-
24a · Other expenses: PROPERTY EXPENSE
total $7,925 · program services $7,925
-
24b · Other expenses: MISC EXPENSE
total $1,567 · management and general $1,567
-
24c · Other expenses: BAD DEBT EXPENSE
total -$30,323 · program services -$30,323
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,865,310 · end of year $1,403,339
-
3 · Pledges and grants receivable
beginning of year $125,000 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $2,871,101 · end of year $3,598,672
-
9 · Prepaid expenses and deferred charges
end of year $1,781
-
10a · Land, buildings and equipment: cost or other basis
$17,565
-
10b · Land, buildings and equipment: accumulated depreciation
$9,247
-
10c · Land, buildings and equipment, net
beginning of year $8,695 · end of year $8,318
-
17 · Accounts payable and accrued expenses
beginning of year $12,646 · end of year $45,715
-
19 · Deferred revenue
beginning of year $806,000 · end of year $400,726
-
24 · Unsecured notes and loans payable
beginning of year $1,873,435 · end of year $1,753,145
-
25 · Other liabilities
beginning of year $1,750,000 · end of year $1,750,000
-
27 · Net assets without donor restrictions
beginning of year $428,025 · end of year $1,062,524
Mission and programs · 2023
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 $154,535 · Revenue $205,119
As filed on the 2023 return.
Listed in Part VII
-
CHARLES BARBER
VICE 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
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
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423199349305932
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