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← SOMERSET COUNTY ECONOMIC DEVELOPMENT COUNCIL

Form 990 for tax year 2022

Filed by SOMERSET COUNTY ECONOMIC DEVELOPMENT COUNCIL.

Totals

Total revenue
$74,120
Total expenses
$24,776
Contributions and grants received
$9,122
Grants paid
$0
Program service revenue
$0
Investment income
$1,588
Other revenue
$63,410
Total assets, end of year
$1,922,592
Total liabilities, end of year
$7,856
Net assets or fund balances, end of year
$1,914,736
Program services expenses (Part IX)
$24,776
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 1b · Membership dues

    $75

  • 1e · Government grants (contributions)

    $9,047

  • 3 · Investment income

    total $1,588 · excluded $1,588

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $63,410 · related or exempt $63,410

  • 11e · Other revenue, total

    $63,410

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $11,679 · program services $11,679

  • 13 · Office expenses

    total $2,018 · program services $2,018

  • 16 · Occupancy

    total $7,204 · program services $7,204

  • 23 · Insurance

    total $3,335 · program services $3,335

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $462 · program services $462

  • 24b · Other expenses: BANK FEES

    total $78 · program services $78

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $143,925 · end of year $220,282

  • 2 · Savings and temporary cash investments

    beginning of year $1,256 · end of year $1,258

  • 4 · Accounts receivable

    beginning of year $620 · end of year $620

  • 7 · Other notes and loans receivable

    beginning of year $96,728 · end of year $67,634

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,561 · end of year $2,761

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

    $1,630,037

  • 10c · Land, buildings and equipment, net

    beginning of year $1,630,037 · end of year $1,630,037

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,735 · end of year $7,856

  • 27 · Net assets without donor restrictions

    beginning of year $1,646,931 · end of year $1,694,768

  • 28 · Net assets with donor restrictions

    beginning of year $218,461 · end of year $219,968

Mission and programs · 2022

Mission

THE ORGANIZATION WAS CREATED FOR THE ECONOMIC DEVELOPMENT OF SOMERSET COUNTY, PENNSYLVANIA, WITH IT'S MISSION TO PROMOTE INDUSTRIAL, COMMERCIAL AND RETAIL GROWTH IN THE COUNTY BY RECRUITING AND ASSISTING NEW FIRMS TO LOCATE IN THE COUNTY, WHILE HELPING EXISTING COMPANIES TO RETAIN OR EXPAND EMPLOYMENT.

  • ECONOMIC DEVELOPMENT OF SOMERSET COUNTY, PENNSYLVANA - TO CREATE JOBS BY PROVIDING THE DEVELOPMENT AND SALE OF INDUSTRIAL/BUSINESS PARK LAND AND TO PROMOTE BUSINESS RELOCATION TO SOMERSET COUNTY, ASSISTING BUSINESSES TO OBTAIN FINANCING AND OPERATING A MICRO-REVOLVING LOAN FUND FOR NEW BUSINESSES AS WELL AS ASSISTING BUSINESSES TO RETAIN OR EXPAND EMPLOYMENT.

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

Listed in Part VII

  • Kathy Berkebile

    VICE PRESIDE

    Total calculated
    $0

  • Steven Buncich

    SEC/TREAS

    Total calculated
    $0

  • Chris Burtner

    DIRECTOR

    Total calculated
    $0

  • J C Danhires

    DIRECTOR

    Total calculated
    $0

  • Colleen Dawson

    DIRECTOR

    Total calculated
    $0

  • Brandon Hillegas

    DIRECTOR

    Total calculated
    $0

  • Jeremy Hoover

    DIRECTOR

    Total calculated
    $0

  • Ned Kendall

    DIRECTOR

    Total calculated
    $0

  • Matthew Livingood

    DIRECTOR

    Total calculated
    $0

  • Cassie Moon

    PRESIDENT

    Total calculated
    $0

  • Ruston Ogburn

    DIRECTOR

    Total calculated
    $0

  • Pamela Tokar-Ickes

    DIRECTOR

    Total calculated
    $0

  • Gerald Walker

    DIRECTOR

    Total calculated
    $0

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
15 November 2023
IRS schema version
2022v5.0
Source object
202303249349300425

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