Form 990 for tax year 2022
Filed by ALTOONA-BLAIR COUNTY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $33,416,279
- Total expenses
- $6,259,067
- Contributions and grants received
- $6,041,163
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $22,837,817
- Other revenue
- $4,537,299
- Total assets, end of year
- $122,969,142
- Total liabilities, end of year
- $88,392,310
- Net assets or fund balances, end of year
- $34,576,832
- Program services expenses (Part IX)
- $5,773,520
- Management and general expenses
- $481,914
- Fundraising expenses
- $3,633
- Program service expenses (Part III)
- $5,773,520
Program services were 92.2% 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.
-
1e · Government grants (contributions)
$5,960,668
-
1f · All other contributions, gifts and grants
$80,495
-
3 · Investment income
total $458,582 · related or exempt $458,582
-
6a · Gross rents
real property $7,788,505
-
6b · Less rental expenses
real property $4,266,914
-
6c · Rental income or loss
real property $3,521,591
-
6d · Net rental income or loss
total $3,521,591 · related or exempt $3,521,591
-
7a · Gross sales of assets other than inventory
other assets $74,238,780
-
7b · Less cost or other basis and sales expenses
other assets $51,859,545
-
7c · Gain or loss
other assets $22,379,235
-
7d · Net gain or loss
total $22,379,235 · related or exempt $22,379,235
-
11a · Other revenue: FEES & COST REIMBURSEMENT
total $791,532 · related or exempt $791,532
-
11b · Other revenue: BED TAX
total $215,006 · related or exempt $215,006
-
11c · Other revenue: MISCELLANEOUS
total $9,170 · related or exempt $9,170
-
11e · Other revenue, total
$1,015,708
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $819,990 · program services $491,174 · management and general $326,356 · fundraising $2,460
-
12 · Advertising and promotion
total $30,346 · program services $30,346
-
13 · Office expenses
total $42,323 · program services $25,351 · management and general $16,845 · fundraising $127
-
17 · Travel
total $19,335 · program services $19,335
-
20 · Interest
total $415,706 · program services $415,706
-
22 · Depreciation, depletion and amortization
total $3,014,060 · program services $3,014,060
-
23 · Insurance
total $45,759 · program services $27,410 · management and general $18,211 · fundraising $138
-
24a · Other expenses: PROJECT COSTS
total $1,535,424 · program services $1,535,424
-
24b · Other expenses: PROFESSIONAL FEES
total $284,744 · program services $170,594 · management and general $113,296 · fundraising $854
-
24c · Other expenses: MISCELLANEOUS
total $16,701 · program services $16,701
-
24d · Other expenses: DUES & PERIODICALS
total $14,798 · program services $8,864 · management and general $5,890 · fundraising $44
-
24e · All other expenses
total $19,881 · program services $18,555 · management and general $1,316 · fundraising $10
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $13,544,431 · end of year $17,403,001
-
4 · Accounts receivable
beginning of year $13,080,535 · end of year $16,069,862
-
9 · Prepaid expenses and deferred charges
beginning of year $7,830 · end of year $10,014
-
10a · Land, buildings and equipment: cost or other basis
$102,703,046
-
10b · Land, buildings and equipment: accumulated depreciation
$16,043,977
-
10c · Land, buildings and equipment, net
beginning of year $141,526,196 · end of year $86,659,069
-
12 · Investments: other securities
beginning of year $1,276,680 · end of year $2,827,196
-
17 · Accounts payable and accrued expenses
beginning of year $50,256 · end of year $61,342
-
19 · Deferred revenue
beginning of year $10,464,511 · end of year $9,957,049
-
23 · Secured mortgages and notes payable
beginning of year $158,397,729 · end of year $85,686,946
-
25 · Other liabilities
beginning of year $13,305,016 · end of year -$7,313,027
-
27 · Net assets without donor restrictions
beginning of year -$29,135,135 · end of year $11,759,069
-
28 · Net assets with donor restrictions
beginning of year $16,353,295 · end of year $22,817,763
Mission and programs · 2022
Mission
TO ENSURE BLAIR COUNTY IS THE BEST AND MOST COMPETITIVE COMMUNITY IT CAN BE SO WE CAN ATTRACT AND RETAIN TALENT, INVESTMENT, AND JOB OPPORTUNITIES FOR FUTURE GENERATIONS TO COME.
Activities or mission (Part I)
CONTINUED FUNCTIONING AS A VECHICLE TO PROVIDE FINANCING,ETC FOR INDUSTRY AND EMPLOYMENT.
-
CONTINUED FUNCTIONING AS A VECHICLE TO PROVIDE FINANCING,ETC. FOR INDUSTRIAL AND EMPLOYMENT EXPANSION IN THE AREA
Expenses $5,773,520 · Revenue $27,375,116
As filed on the 2022 return.
Listed in Part VII
-
Ron McConnelRON MCCONNEL
CHAIRMAIN
- Total calculated
- $0
- Hours/week
- 3
-
Ann BenzelANN BENZEL
1ST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Mark RitcheyMARK RITCHEY
2ND VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Dr Lori J Bechtel-WherryDR LORI J BECHTEL-WHERRY
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Mike SettimioMIKE SETTIMIO
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Troy CampbellTROY CAMPBELL
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Joseph SheetzJOSEPH SHEETZ
SECRETARY/ASSISTANT TREASU
- Total calculated
- $0
- Hours/week
- 3
-
Dan HooverDAN HOOVER
ASSISTANT SECRETARY/TREASU
- Total calculated
- $0
- Hours/week
- 3
-
Philip FreemanPHILIP FREEMAN
SECRETARY/ASSISTANT TREASU
- Total calculated
- $0
- Hours/week
- 3
-
Kris BaronnerKRIS BARONNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Bob BilgerBOB BILGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Andrea CohenANDREA COHEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
James CrawfordJAMES CRAWFORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
James Crowder IIIJAMES CROWDER III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Bruno Degol JrBRUNO DEGOL JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Michael DelgrossoMICHAEL DELGROSSO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Bruce ErbBRUCE ERB
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Bryan FisherBRYAN FISHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Jan FisherJAN FISHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Nicholas GatesNICHOLAS GATES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
John HorellJOHN HORELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Brian IrwinBRIAN IRWIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Dr Frank MontecalvoDR FRANK MONTECALVO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Matt PacificoMATT PACIFICO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Eric PalmerERIC PALMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Bo PrattBO PRATT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Dr Charles PrijateljDR CHARLES PRIJATELJ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
John RussellJOHN RUSSELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
George SidneyGEORGE SIDNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Clark StapelfeldCLARK STAPELFELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Adam WardADAM WARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Eric WolfERIC WOLF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 3
-
Stephen McKnightSTEPHEN MCKNIGHT
PRESIDENT & CEP
- Total calculated
- $155,815
- From this org
- $0
- From related orgs
- $155,815
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $122,986 related
- Bonus
- $0 + $32,829 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $155,815 related
-
Tom SeasoltzTOM SEASOLTZ
CHIEF FINANCIAL OFFICER
- Total calculated
- $133,834
- From this org
- $0
- From related orgs
- $133,834
- Other
- $0
- Hours/week
- 40
-
Matthew FoxMATTHEW FOX
DIRECTOR OF BUSINESS EXPANSION
- Total calculated
- $101,510
- From this org
- $0
- From related orgs
- $101,510
- Other
- $0
- Hours/week
- 40
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 · Compensation committee
- 3 · Compensation survey or study
- 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
The filer's explanations (Part III)
- PART I, LINE 3
- ABCD CORPORATION'S PRESIDENT/CEO COMPENSATION IS ESTABLISHED BY THE ADMINISTRATION AND FINANCE COMMITTEE. THE ORGANIZATION SUBSCRIBES TO A NATIONAL COMPENSATION PUBLICATION TO SET A BASELINE FOR ANNUAL SALARY.
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
- 20 March 2023
- IRS schema version
- 2022v5.0
- Source object
- 202300879349300800
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