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Nonprofiteer
← BEAVER COUNTY CORPORATION FOR ECONOMIC DEVELOPMENT

Form 990 for tax year 2022

Filed by BEAVER COUNTY CORPORATION FOR ECONOMIC DEVELOPMENT.

Totals

Total revenue
$750,100
Total expenses
$848,502
Contributions and grants received
$180,930
Grants paid
$0
Program service revenue
$388,173
Investment income
$47,911
Other revenue
$133,086
Total assets, end of year
$31,351,175
Total liabilities, end of year
$2,018,129
Net assets or fund balances, end of year
$29,333,046
Program services expenses (Part IX)
$617,613
Management and general expenses
$230,889
Fundraising expenses
$0
Program service expenses (Part III)
$617,613

Program services were 72.8% 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.

  • 1b · Membership dues

    $12,900

  • 1e · Government grants (contributions)

    $148,030

  • 1f · All other contributions, gifts and grants

    $20,000

  • 2a · Program service revenue: INTEREST ON CAPITAL LE

    total $179,040 · related or exempt $179,040

  • 2b · Program service revenue: OTHER PROGRAM SERVICE

    total $106,092 · related or exempt $106,092

  • 2c · Program service revenue: PROJECT ADMINISTRATION

    total $50,000 · related or exempt $50,000

  • 2d · Program service revenue: BCIDA CONTRACT FEES

    total $35,000 · related or exempt $35,000

  • 2e · Program service revenue: LOAN FEES

    total $18,041 · related or exempt $18,041

  • 3 · Investment income

    total $47,911 · excluded $47,911

  • 6a · Gross rents

    real property $542,995

  • 6b · Less rental expenses

    real property $409,909

  • 6c · Rental income or loss

    real property $133,086

  • 6d · Net rental income or loss

    total $133,086 · related or exempt $133,086

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $137,918 · program services $68,959 · management and general $68,959

  • 6 · Compensation of disqualified persons

    total $293,552 · program services $227,771 · management and general $65,781

  • 8 · Pension plan contributions

    total $37,872 · program services $28,404 · management and general $9,468

  • 9 · Other employee benefits

    total $107,599 · program services $80,699 · management and general $26,900

  • 10 · Payroll taxes

    total $33,859 · program services $25,394 · management and general $8,465

  • 11b · Fees: legal

    total $3,812 · program services $3,060 · management and general $752

  • 11c · Fees: accounting

    total $30,089 · management and general $30,089

  • 11g · Fees: other

    total $480 · program services $360 · management and general $120

  • 12 · Advertising and promotion

    total $68,031 · program services $66,485 · management and general $1,546

  • 13 · Office expenses

    total $13,187 · program services $9,890 · management and general $3,297

  • 16 · Occupancy

    total $32,210 · program services $24,157 · management and general $8,053

  • 17 · Travel

    total $4,127 · program services $3,095 · management and general $1,032

  • 22 · Depreciation, depletion and amortization

    total $2,837 · program services $2,837

  • 23 · Insurance

    total $6,960 · program services $5,704 · management and general $1,256

  • 24a · Other expenses: MISCELLANEOUS

    total $32,427 · program services $30,926 · management and general $1,501

  • 24b · Other expenses: MAINTENANCE

    total $23,325 · program services $23,325

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $14,682 · program services $11,012 · management and general $3,670

  • 24d · Other expenses: PROPERTY TAXES

    total $5,535 · program services $5,535

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $13,638,119 · end of year $11,113,871

  • 4 · Accounts receivable

    beginning of year $2,467 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $5,433,775 · end of year $4,950,105

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,732 · end of year $40,402

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

    $16,510,491

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

    $1,273,694

  • 10c · Land, buildings and equipment, net

    beginning of year $12,563,320 · end of year $15,236,797

  • 15 · Other assets

    beginning of year $10,000 · end of year $10,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,543 · end of year $227,633

  • 19 · Deferred revenue

    beginning of year $0 · end of year $9,063

  • 23 · Secured mortgages and notes payable

    beginning of year $1,862,691 · end of year $1,691,891

  • 25 · Other liabilities

    beginning of year $383,731 · end of year $89,542

  • 27 · Net assets without donor restrictions

    beginning of year $24,963,242 · end of year $24,804,708

  • 28 · Net assets with donor restrictions

    beginning of year $4,468,206 · end of year $4,528,338

Mission and programs · 2022

Mission

CED'S MISSION IS TO ENCOURAGE JOB CREATION AND PRIVATE INVESTMENT IN BEAVER COUNTY BY: ASSISTING IN OR UNDERTAKING THE DEVELOPMENT OF SITES AND STRUCTURES IN STRATEGIC LOCATIONS FOR VALUE-ADDED COMPANIES; OPERATING OR ACCESSING FINANCING PROGRAMS FOR VALUE-ADDED COMPANIES; AND, ASSISTING IN OR UNDERTAKING SPECIAL INITIATIVES THAT HAVE A SIGNIFICANT COMMUNITY IMPACT.

  • THE CORPORATION PROMOTES AND ASSISTS ECONOMIC REVITALIZATION IN BEAVER COUNTY THROUGH ITS DEVELOPMENT OF INDUSTRIAL PARKS AND FACILITIES AND BUSINESS FINANCING. THE CORPORATION'S CURRENT INDUSTRIAL PARKS AND FACILITIES INCLUDE 1) ALIQUIPPA INDUSTRIAL PARK, 2) MONACA COMMERCE CENTER, 3) 1200 AIRPORT ROAD, 4) WESTGATE BUSINESS PARK, 5) CREEKSIDE SPRINGS, AND 6) 1317 7TH AVE. PROGRAM SERVICE EXPENSES INCLUDE LAND IMPROVEMENTS, PROPERTY TAXES, AND OTHER COSTS ASSOCIATED WITH THE DEVELOPMENT AND OPERATION OF THESE SITES.

    Expenses $617,613 · Revenue $521,259

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert J Pusateri

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Carey McDougall

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Carolyn Renninger

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Joe Bevevino

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Melvin Steals

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Manning

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Camp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Amadio

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David O'Leary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Dawson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ed Demailo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Lincheck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Renee Suhr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lewis Villotti

    PRESIDENT

    Total calculated
    $168,727
    From this org
    $132,310
    From related orgs
    $0
    Other
    $36,417
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,310
    Bonus
    $0
    Other
    $0
    Deferred
    $13,591
    Nontaxable benefits
    $22,826
    Filer's total
    $168,727

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
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Answered no

None.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
11 October 2023
IRS schema version
2022v5.0
Source object
202332849349301518

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