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Clarion County Economic Development Corporation FY2022 filing

Tax-deductible

Clarion, PA501(c)(3)Community Development EIN 25-1237688Revenue $183K in FY2022

On file with the IRSPo Box 109, 16214-0109 · Clarion, PATax-exempt since May 1993Publicly supported charity — 170(b)(1)(A)(vi)

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The Corporation is engaged in promoting Economic Development in Clarion County. Functions include assisting clients in obtaining financing and constructing and maintaining industrial parks.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $109K a year · 37% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
37 mo
of spending, in cash
Looks good: 36.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $45K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$419K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183K
+274% vs prior year
Spent
$231K
To programs
81%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$183K
FY2022▲ +274%
Tap a bar for its year
Revenue by fiscal year
FY2020$224K
FY2021$49K
FY2022$183K
FY2023$658K
FY2024$360K
Expenses
$231K
FY2022▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$249K
FY2021$271K
FY2022$231K
FY2023$531K
FY2024$734K
Net assets
$1.5M
FY2022▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$1.6M
FY2022$1.5M
FY2023$1.7M
FY2024$1.3M

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1993.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $188K Management & general 19% · $43K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Josh Lesniak
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ted Tharan
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Clarion County Economic Development Corporation 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

Promotes economic development by helping clients get financing and build industrial parks.

Questions for Clarion County Economic Development Corporation

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Provided by the organization

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1 program · $188K · in their own filed words · FY2022
01

Assisting clients in obtaining financing and constructing and maintaining industrial parks.

$188Kprogram expense

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 · FY2022
Arthur W Phillips Trust UwFY2022$45K
Total grants receivedfrom 1 funder$45K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$183K
Ln 12
Gifts and grantsLn 1h$173K
Investment incomeLn 3$6K
Fees for servicesLn 2g$3K
Money outPt IX
$231K
Ln 25
Programscol B$188K
Managementcol C$43K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$710K
Total assetsLn 16$2.0M
LiabilitiesLn 26$419K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$173K
Government grantsLn 1e$152K
Fees for servicesLn 2g$3K
Investment incomeLn 3$6K
Total revenueLn 12$183K
Assets in detailPt X, end of year
CashLn 1$35K
SavingsLn 2$675K
Cash and savings togetherLn 1–2$710K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$2.0M
LiabilitiesLn 26$419K
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$660K$710K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.9M$2.0M
LiabilitiesLn 26$325K$419K
Net assetsLn 32$1.6M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$95K$66K$28K
Other employee benefitsLn 9$6K$4K$2K
Payroll taxesLn 10$12K$8K$4K
Other fees for servicesLn 11g$71K$69K$2K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$6K$4K$1K
OccupancyLn 16$14K$10K$3K
TravelLn 17$2K$2K$554
Conferences, conventions and meetingsLn 19$6K$5K$962
Depreciation, depletion and amortizationLn 22$7K$7K
InsuranceLn 23$4K$3K$985
Other expenses (24a–d)Ln 24$2K$1K$386
Total functional expensesLn 25$231K$188K$43K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $360K$734K−$374K$1.3M 990 PDF
FY2023 $658K$531K$127K$1.7M 990 PDF
FY2022 Viewing $183K$231K−$49K$1.5M 990 PDF
FY2021 $49K$271K−$222K$1.6M 990 PDF
FY2020 $224K$249K−$24K$1.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $182,602 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $186,127$173,177
I-9 Program service revenuePrior year $4,675$3,000
I-10 Investment incomePrior year −$153,582$6,425
I-11 Other revenuePrior year $11,590$0
I-12 Total revenuePrior year $48,810$182,602
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $100,870$112,786
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $170,297$118,385
I-18 Total expensesPrior year $271,167$231,171
I-19 Revenue less expensesPrior year −$222,357−$48,569
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $182,602 across 6 lines filed
VIII-1b Membership dues$21,450
VIII-1e Government grants$151,727
VIII-1h Total contributions, gifts and grants$173,177
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,000$3,000
VIII-3 Investment incomeExcluded from tax $6,425$6,425
VIII-12 Total revenueRelated to mission $3,000 · Excluded from tax $6,425$182,602
Part IX · Statement of functional expenses $231,171 across 12 lines filed
IX-7 Other salaries and wagesPrograms $66,500 · Management $28,500$95,000
IX-9 Other employee benefitsPrograms $4,271 · Management $1,831$6,102
IX-10 Payroll taxesPrograms $8,179 · Management $3,505$11,684
IX-11g Other fees for servicesPrograms $69,461 · Management $1,692$71,153
IX-12 Advertising and promotionPrograms $7,125$7,125
IX-13 Office expensesPrograms $4,474 · Management $1,491$5,965
IX-16 OccupancyPrograms $10,243 · Management $3,415$13,658
IX-17 TravelPrograms $1,663 · Management $554$2,217
IX-19 Conferences, conventions and meetingsPrograms $4,857 · Management $962$5,819
IX-22 Depreciation, depletion and amortizationPrograms $6,894$6,894
IX-23 InsurancePrograms $2,957 · Management $985$3,942
IX-24 Other expenses (24a–d)Programs $1,226 · Management $386$1,612
IX-25 Total functional expensesPrograms $187,850 · Management $43,321 · Fundraising $0$231,171
Part X · Balance sheet $1,963,651 assets, 11 lines filed
Asset lines not itemized here account for $129,325; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $10,035$34,616
X-2 Savings and temporary cash investmentsStart of year $649,496$675,249
X-4 Accounts receivable$14,750
X-10c Land, buildings and equipment, netStart of year $1,116,605$1,109,711
X-16 Total assetsStart of year $1,917,682$1,963,651
X-25 Other liabilitiesStart of year $324,620$419,158
X-26 Total liabilitiesStart of year $324,620$419,158
X-27 Net assets without donor restrictionsStart of year $1,176,023$1,124,795
X-28 Net assets with donor restrictionsStart of year $417,039$419,698
X-32 Total net assets or fund balancesStart of year $1,593,062$1,544,493
X-33 Total liabilities and net assetsStart of year $1,917,682$1,963,651
Part XI · Reconciliation of net assets $1,544,493 net assets at year end
XI-1 Total revenue$182,602
XI-2 Total expenses$231,171
XI-3 Revenue less expenses−$48,569
XI-4 Net assets at start of year$1,593,062
XI-10 Net assets at end of year$1,544,493

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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