Totals
- Total revenue
- $5,589,608
- Total expenses
- $1,460,409
- Contributions and grants received
- $4,219,406
- Grants paid
- $0
- Program service revenue
- $1,136,279
- Investment income
- $183,921
- Other revenue
- $50,002
- Total assets, end of year
- $56,975,518
- Total liabilities, end of year
- $10,230,617
- Net assets or fund balances, end of year
- $46,744,901
- Program services expenses (Part IX)
- $964,633
- Management and general expenses
- $461,765
- Fundraising expenses
- $34,011
- Program service expenses (Part III)
- $964,633
Program services were 66.1% 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
$4,219,406
-
2a · Program service revenue: LOAN INTEREST
total $1,077,536 · related or exempt $1,077,536
-
2b · Program service revenue: LOAN FEES
total $58,300 · related or exempt $58,300
-
2c · Program service revenue: CONSULTING FEES
total $443 · related or exempt $443
-
3 · Investment income
total $186,409 · excluded $186,409
-
6a · Gross rents
real property $56,134
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $56,134
-
6d · Net rental income or loss
total $56,134 · excluded $56,134
-
7a · Gross sales of assets other than inventory
other assets $18,320
-
7b · Less cost or other basis and sales expenses
other assets $20,808
-
7c · Gain or loss
other assets -$2,488
-
7d · Net gain or loss
total -$2,488 · related or exempt -$2,488
-
11a · Other revenue: OTHER INCOME
total -$6,132 · related or exempt -$6,132
-
11e · Other revenue, total
-$6,132
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $397,538 · program services $219,286 · management and general $160,427 · fundraising $17,825
-
7 · Other salaries and wages
total $227,736 · program services $169,075 · management and general $52,795 · fundraising $5,866
-
8 · Pension plan contributions
total $139,127 · program services $78,156 · management and general $54,874 · fundraising $6,097
-
9 · Other employee benefits
total $49,659 · program services $24,671 · management and general $22,489 · fundraising $2,499
-
10 · Payroll taxes
total $44,633 · program services $27,395 · management and general $15,514 · fundraising $1,724
-
11b · Fees: legal
total $56,972 · program services $11,615 · management and general $45,357
-
11c · Fees: accounting
total $22,345 · management and general $22,345
-
12 · Advertising and promotion
total $6,161 · program services $6,004 · management and general $157
-
13 · Office expenses
total $22,388 · program services $21,211 · management and general $1,177
-
17 · Travel
total $36,694 · program services $24,612 · management and general $12,082
-
20 · Interest
total $179,434 · program services $179,434
-
22 · Depreciation, depletion and amortization
total $51,254 · program services $37,025 · management and general $14,229
-
23 · Insurance
total $22,623 · program services $11,954 · management and general $10,669
-
24a · Other expenses: OTHER CONTRACTED SERVIC
total $79,558 · program services $69,903 · management and general $9,655
-
24b · Other expenses: HUMAN RESOURCES DEVELOP
total $29,663 · program services $28,441 · management and general $1,222
-
24c · Other expenses: SMALL EQUIPMENT AND FUR
total $19,531 · program services $11,905 · management and general $7,626
-
24d · Other expenses: UTILITIES
total $15,792 · program services $7,221 · management and general $8,571
-
24e · All other expenses
total $59,301 · program services $36,725 · management and general $22,576
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $32,765,455 · end of year $31,144,618
-
7 · Other notes and loans receivable
beginning of year $17,479,864 · end of year $18,849,212
-
9 · Prepaid expenses and deferred charges
beginning of year $6,933 · end of year $19,277
-
10a · Land, buildings and equipment: cost or other basis
$2,141,651
-
10b · Land, buildings and equipment: accumulated depreciation
$766,707
-
10c · Land, buildings and equipment, net
beginning of year $3,563,440 · end of year $1,374,944
-
12 · Investments: other securities
beginning of year $143,983 · end of year $143,588
-
13 · Investments: program-related
end of year $5,443,879
-
17 · Accounts payable and accrued expenses
beginning of year $222,159 · end of year $181,839
-
23 · Secured mortgages and notes payable
beginning of year $9,150,697 · end of year $8,992,492
-
25 · Other liabilities
beginning of year $1,971,117 · end of year $1,056,286
-
27 · Net assets without donor restrictions
beginning of year $35,650,346 · end of year $41,562,149
-
28 · Net assets with donor restrictions
beginning of year $6,965,356 · end of year $5,182,752
Mission and programs · 2022
Mission
RAISE AND LEND FUNDS FOR COMMUNITY DEVELOPMENT
-
PROMOTE HISTORIC PRESERVATION AND COMPATIBLE COMMUNITY AND ECONOMIC REVITALIZATION BY MAKING LOANS
Expenses $964,633 · Revenue $1,127,659
As filed on the 2022 return.
Listed in Part VII
-
David MillerDAVID MILLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 4
-
Jan DofnerJAN DOFNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 4
-
Eric MartinERIC MARTIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 4
-
Patricia BrennenPATRICIA BRENNEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 4
-
R John DawesR JOHN DAWES
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 8
-
James ButlerJAMES BUTLER
SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Jared GorentzJARED GORENTZ
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 8
-
David KahleyDAVID KAHLEY
PRESIDENT & CEO
- Total calculated
- $269,751
- From this org
- $211,338
- From related orgs
- $0
- Other
- $58,413
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $211,338
- Bonus
- $0
- Other
- $0
- Deferred
- $58,413
- Nontaxable benefits
- $0
- Filer's total
- $269,751
-
Karen PostKAREN POST
TREASURER & CFO
- Total calculated
- $255,256
- From this org
- $186,200
- From related orgs
- $0
- Other
- $69,056
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $186,200
- Bonus
- $0
- Other
- $0
- Deferred
- $69,056
- Nontaxable benefits
- $0
- Filer's total
- $255,256
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
THE TPF LOAN CORPORATION INC
C · FINANCING · PA · 100% owned · controlled entity
Directly controlled by PROGRESS FUND
-
THE HAZELWOOD BREWERY PROJECT MANAGER INC
C · PROJECT MANAGER · PA · 100% owned · controlled entity
Directly controlled by PROGRESS FUND
-
THE HAZELWOOD BREWERY PROJECT LLC
PROJECT OWNER · PA · 1% owned · controlled entity
Directly controlled by PROGRESS FUND
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 1 March 2023
- IRS schema version
- 2022v4.1
- Source object
- 202300729349301105
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