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McKean County Industrial FY2019 filing

IRS exemption revoked

Smethport, PAUnknown exempt organization EIN 23-7319951Revenue $16K in FY2019

On file with the IRS17137 Route 6 · Smethport, PA

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To promote development and expansion of businesses, industry, and commerce within McKean County, pennsylvania.

Mission: Form 990 Part I, line 1

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FY2019 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $4K a year · 26% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
216 mo
of spending, in cash
Looks good: 215.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16K
Spent
$10K
To programs
0%
Net assets
$356K
By yearFY2019–FY2022
Revenue
$16K
FY2019
Tap a bar for its year
Revenue by fiscal year
FY2019$16K
FY2020$16K
FY2021$21K
FY2022$8K
Expenses
$10K
FY2019
Tap a bar for its year
Expenses by fiscal year
FY2019$10K
FY2020$15K
FY2021$11K
FY2022$10K
Net assets
$356K
FY2019
Tap a bar for its year
Net assets by fiscal year
FY2019$356K
FY2020$358K
FY2021$368K
FY2022$366K

From the FY2019 Form 990 (year ending June 2019) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2025
You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2022) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2018); the FY2019 filing did not itemize Part VII
$0Pt VII · Sec A
Jeremy Morey
Secretary
$0Pt VII · Sec A
Crystal Kocjancic
Board of Dir
$0Pt VII · Sec A
William Todd
Board of Dir
$0Pt VII · Sec A
Devon Kloss
Board of Dir
$0Pt VII · Sec A
See McKean County Industrial 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 businesses grow and expand commerce in McKean County, Pennsylvania.

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Provided by the organization

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1 program · in their own filed words · FY2018
01

To promote the development and expansion of business, industry, and commerce within mckean county, pennyslvania by offering low interest rate loans to area businesses.

Pt IX · col B

By the numbers

The FY2019 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$16K
Ln 12
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$5K
Investment incomeLn 3$1K
Money outPt IX
$10K
Ln 25
Owns and owesPt X
$356K
net assets · Ln 32
Cash and savingsLn 1–2$178K
Total assetsLn 16$356K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Government grantsLn 1e$10K
Fees for servicesLn 2g$5K
Investment incomeLn 3$1K
Total revenueLn 12$16K
Assets in detailPt X, end of year
SavingsLn 2$178K
Cash and savings togetherLn 1–2$178K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$356K
LiabilitiesLn 26$0
Net assetsLn 32$356K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
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 FY19End FY19
Cash and savingsLn 1–2$156K$178K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$351K$356K
LiabilitiesLn 26$749$0
Net assetsLn 32$350K$356K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K
Advertising and promotionLn 12$2K
Office expensesLn 13$568
Depreciation, depletion and amortizationLn 22$217
InsuranceLn 23$907
Other expenses (24a–d)Ln 24$3K
Total functional expensesLn 25$10K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $8K$10K−$2K$366K 990 PDF
FY2021 $21K$11K$11K$368K 990 PDF
FY2020 $16K$15K$1K$358K 990 PDF
FY2019 Viewing $16K$10K$6K$356K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2019 990 (6 parts)
Part I · Summary $15,784 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,022$9,900
I-9 Program service revenuePrior year $3,862$4,726
I-10 Investment incomePrior year $687$1,158
I-11 Other revenue$0
I-12 Total revenuePrior year $17,571$15,784
I-13 Grants and similar amounts paidPrior year $2,200$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,217$9,899
I-18 Total expensesPrior year $5,417$9,899
I-19 Revenue less expensesPrior year $12,154$5,885
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $15,784 across 5 lines filed
VIII-1e Government grants$9,900
VIII-1h Total contributions, gifts and grants$9,900
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,726$4,726
VIII-3 Investment incomeExcluded from tax $1,158$1,158
VIII-12 Total revenueRelated to mission $4,726 · Excluded from tax $1,158$15,784
Part IX · Statement of functional expenses $9,899 across 6 lines filed
IX-11c Accounting fees$3,155
IX-12 Advertising and promotion$2,200
IX-13 Office expenses$568
IX-22 Depreciation, depletion and amortization$217
IX-23 Insurance$907
IX-24 Other expenses (24a–d)$2,852
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$9,899
Part X · Balance sheet $356,045 assets, 8 lines filed
Asset lines not itemized here account for $173,202; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $155,782$178,095
X-4 Accounts receivableStart of year $1,891$2,221
X-9 Prepaid expenses and deferred chargesStart of year $109$888
X-10c Land, buildings and equipment, net$1,639
X-16 Total assetsStart of year $350,909$356,045
X-26 Total liabilitiesStart of year $749$0
X-32 Total net assets or fund balancesStart of year $350,160$356,045
X-33 Total liabilities and net assetsStart of year $350,909$356,045
Part XI · Reconciliation of net assets $356,045 net assets at year end
XI-1 Total revenue$15,784
XI-2 Total expenses$9,899
XI-3 Revenue less expenses$5,885
XI-4 Net assets at start of year$350,160
XI-10 Net assets at end of year$356,045

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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