Lancaster Area Community

Lancaster, OHUnknown exempt organization EIN 31-0986004Revenue $839K in FY2020

On file with the IRS109 N Broad St Ste 100 · Lancaster, OH

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The sole purpose for which the corporation is formed is to advance, encourage, and promote the industrial, economic, commercial and civic development to the surrounding Community and territory.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
28
of 28 voting members
Looks good: 28 of 28 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$839K
Spent
$2.4M
To programs
100%
Net assets
$0

From the FY2020 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.4M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

28 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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lancaster Area Community 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 community and economic development through industrial and commercial advancement.

Questions for Lancaster Area Community

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Provided by the organization

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1 program · $2.4M · in their own filed words · FY2020
01

Expenses necessary for the continuance and maintenance of the organization.

$2.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $494K · 2020–2020
Port AuthorityFY2020$494,355

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$839K
Ln 12
Investment incomeLn 3$837K
Gifts and grantsLn 1h$2K
Other incomeLn 4–11$310
Money outPt IX
$2.4M
Ln 25
Programscol B$2.4M
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
28
listed · VII A
PaidVII A0
Voting boardVI 1a28
IndependentVI 1b28
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Investment incomeLn 3$837K
Other incomeLn 4–11$310
Gains on assetsLn 7$836K
Total revenueLn 12$839K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY20End FY20
Total assetsLn 16$1.5M$0
LiabilitiesLn 26$12K$0
Net assetsLn 32$1.5M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.3M$2.3M
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$410$410
Other fees for servicesLn 11g$131$131
OccupancyLn 16$2K$2K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$2.4M$2.4M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $839K$2.4M−$1.5M$0 990 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 FY2020 990 (6 parts)
Part I · Summary $838,736 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,000$1,500
I-9 Program service revenue$0
I-10 Investment incomePrior year −$353,648$836,926
I-11 Other revenuePrior year $9,092$310
I-12 Total revenuePrior year −$341,556$838,736
I-13 Grants and similar amounts paid$2,332,026
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $66,686$27,526
I-18 Total expensesPrior year $66,686$2,359,552
I-19 Revenue less expensesPrior year −$408,242−$1,520,816
Part VI · Governance 28 of 28 board members independent, 4 to look at
VI-1a Voting members of the governing body28
VI-1b Independent voting members28
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 $838,736 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,500
VIII-1h Total contributions, gifts and grants$1,500
VIII-3 Investment incomeRelated to mission $665$665
VIII-6 Net rental income or lossRelated to mission $310$310
VIII-7 Net gain or loss on sales of assetsRelated to mission $836,261$836,261
VIII-12 Total revenueRelated to mission $837,236$838,736
Part IX · Statement of functional expenses $2,359,552 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $2,332,026$2,332,026
IX-11b Legal feesPrograms $21,527$21,527
IX-11c Accounting feesPrograms $410$410
IX-11g Other fees for servicesPrograms $131$131
IX-16 OccupancyPrograms $1,500$1,500
IX-23 InsurancePrograms $2,531$2,531
IX-24 Other expenses (24a–d)Programs $1,427$1,427
IX-25 Total functional expensesPrograms $2,359,552 · Management $0 · Fundraising $0$2,359,552
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $1,532,982$0
X-26 Total liabilitiesStart of year $12,166$0
X-32 Total net assets or fund balancesStart of year $1,520,816$0
X-33 Total liabilities and net assetsStart of year $1,532,982$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$838,736
XI-2 Total expenses$2,359,552
XI-3 Revenue less expenses−$1,520,816
XI-4 Net assets at start of year$1,520,816
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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