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Fulton Industrial Development Assn INC

Not tax-deductible

Mc Connellsbg, PA501(c)(6)EIN 23-6296091

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Assist local companies in obtaining low interest financing.

Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $15K a year · 15% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$103K
+26% vs prior year
Spent
$111K
To programs
0%
Net assets
$2.3M
By yearFY2020–FY2025
Revenue
$103K
FY2025▲ +26%
Revenue by fiscal year
FY2020$97K
FY2021$101K
FY2022$86K
FY2023$106K
FY2024$82K
FY2025$103K
Expenses
$111K
FY2025+0.2%
Expenses by fiscal year
FY2020$102K
FY2021$112K
FY2022$114K
FY2023$112K
FY2024$111K
FY2025$111K
Net assets
$2.3M
FY2025-0.4%
Net assets by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.4M
FY2023$2.4M
FY2024$2.3M
FY2025$2.3M

From the FY2025 Form 990 (year ending November 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1964.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Jeramy Culler
Vice Preside
$0Pt VII · Sec A
Rick Strait
Treasurer
$0Pt VII · Sec A
Wendy Melius
Secretary
$0Pt VII · Sec A
Paul Johnston
Executive Di
$0Pt VII · Sec A
Walt Barmont
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mac Magee
Director
$0Pt VII · Sec A
See Fulton Industrial Development Assn INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps local businesses get low-interest loans.

Provided by the organization

This section is blank until Fulton Industrial Development Assn INC claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

To borrow money necessary to buy, receive, lease, sell and convey real and personal property and to negotiate with commercial and industrial facilities for the industrial devleopment and civic betterment of fulton county.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Alleghenies Planning and Development CommissionFY2020$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$103K
Ln 12
Fees for servicesLn 2g$72K
Gifts and grantsLn 1h$31K
Money outPt IX
$111K
Ln 25
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$43K
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$31K
Government grantsLn 1e$31K
Fees for servicesLn 2g$72K
Total revenueLn 12$103K
Assets in detailPt X, end of year
CashLn 1$43K
Cash and savings togetherLn 1–2$43K
Land, buildings, equipmentLn 10c$294K
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.2M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$25K$43K
Land, buildings, equipmentLn 10c$316K$294K
Total assetsLn 16$3.5M$3.5M
LiabilitiesLn 26$1.2M$1.2M
Net assetsLn 32$2.3M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K
Other fees for servicesLn 11g$2K
OccupancyLn 16$34K
InterestLn 20$30K
Depreciation, depletion and amortizationLn 22$22K
InsuranceLn 23$19K
Other expenses (24a–d)Ln 24$74
Total functional expensesLn 25$111K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $103K$111K−$8K$2.3M 990 PDF
FY2024 $82K$111K−$29K$2.3M 990 PDF
FY2023 $106K$112K−$5K$2.4M 990 PDF
FY2022 $86K$114K−$28K$2.4M 990 PDF
FY2021 $101K$112K−$12K$2.4M 990 PDF
FY2020 $97K$102K−$5K$2.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $103,226 across 4 lines filed
VIII-1e Government grants$31,230
VIII-1h Total contributions, gifts and grants$31,230
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $71,996$71,996
VIII-12 Total revenueRelated to mission $71,996$103,226
Part IX · Statement of functional expenses $111,407 across 7 lines filed
IX-11c Accounting fees$4,550
IX-11g Other fees for services$1,650
IX-16 Occupancy$34,256
IX-20 Interest$29,575
IX-22 Depreciation, depletion and amortization$22,198
IX-23 Insurance$19,104
IX-24 Other expenses (24a–d)$74
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$111,407
Part X · Balance sheet $3,519,963 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $24,744$42,589
X-8 Inventories for sale or useStart of year $3,183,215$3,183,215
X-10c Land, buildings and equipment, netStart of year $316,357$294,159
X-16 Total assetsStart of year $3,524,316$3,519,963
X-17 Accounts payable and accrued expensesStart of year $347,675$375,685
X-26 Total liabilitiesStart of year $1,197,887$1,201,715
X-27 Net assets without donor restrictionsStart of year $2,326,429$2,318,248
X-32 Total net assets or fund balancesStart of year $2,326,429$2,318,248
X-33 Total liabilities and net assetsStart of year $3,524,316$3,519,963
Part XI · Reconciliation of net assets $2,318,248 net assets at year end
XI-1 Total revenue$103,226
XI-2 Total expenses$111,407
XI-3 Revenue less expenses−$8,181
XI-4 Net assets at start of year$2,326,429
XI-10 Net assets at end of year$2,318,248

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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