Alloy Development Co INC FY2020 filing

Not tax-deductible

Cincinnati, OH501(c)(4)Since 1983EIN 31-1061640

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Serve as a comprehensive driving force promoting economic Development in hamilton county, greater cincinnati and the state of ohio.

94¢ of each $1 spent went to programs.
$926K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
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
4 of 5
filings with a surplus
Average surplus $142K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$926K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.4M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.9M
Spent
$4.9M
To programs
94%
Net assets
$3.2M
By yearFY2020–FY2024
Revenue
$4.9M
FY2020
Revenue by fiscal year
FY2020$4.9M
FY2021$7.8M
FY2022$10.3M
FY2023$6.5M
FY2024$5.3M
FY2024$4.8M
Expenses
$4.9M
FY2020
Expenses by fiscal year
FY2020$4.9M
FY2021$7.5M
FY2022$10.2M
FY2023$6.4M
FY2024$5.1M
FY2024$4.4M
Net assets
$3.2M
FY2020
Net assets by fiscal year
FY2020$3.2M
FY2021$3.5M
FY2022$3.7M
FY2023$3.9M
FY2024$4.0M
FY2024$4.5M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1988.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $4.7M Management & general 6% · $274K

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

25 people listed on the 990; $926K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President
$212,268Pt VII · Sec A
Vice President/Ed Director
$182,142Pt VII · Sec A
Vice President/Lending Dir
$146,890Pt VII · Sec A
Vice President/Comptroller
$141,867Pt VII · Sec A
Senior Director
$111,093Pt VII · Sec A
Director of Loan Operations
$104,285Pt VII · Sec A
$27,798Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Patrick Longo$157,543$231,332$211,066$201,156$182,983$212,268
Andrew Young——$168,644$168,530$191,156$146,890
Harry Blanton$186,908$185,124$175,515$169,146$167,678$182,142
Rob Haskins$175,735$148,441$143,057———
Jonathan Main$166,340$149,147$136,677$107,970$109,598$104,285
Catherine Fitzgerald$142,897$136,579$127,779$119,838$115,302$111,093
Jeff Hasapis$142,507$119,059$113,798———
Christopher Wagner————$43,005$141,867

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Drives economic growth in Greater Cincinnati and Ohio by providing small businesses with access to commercial capital and government-backed loan programs.

Provided by the organization

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1 program service account for $4.7M of program spending, described in the organization's own filed words · FY2019.
01

Serves as a comprehensive economic development entity in hamilton county, greater cincinnati, the state of ohio, and the commonwealth of kentucky. The company assists businesses and communities via the U.S.

$4.7Mprogram expense

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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 · this organization's grantmaking
Grants paid · 1,829 grants · $17.3M · 2019–2024
Zyon TruckingFY2023$10,000
Xaishax LLCFY2023$10,000
Watson CleaningFY2023$10,000
Trinity Childcare LLCFY2023$10,000
Thomas Rehabbing LLCFY2023$10,000
Talk of the TownFY2023$10,000
Taljenlew Dezignz LLCFY2023$10,000
Sushi Cafe World of Clifton LLC DBA Mr Sushi CliftonFY2023$10,000
Stephanie T Harper Enterprises LLCFY2023$10,000
Srj Loving ChildcareFY2023$10,000
Smith & Smith FinancialFY2023$10,000
Silent Drip LLCFY2023$10,000
Sharing Salon SecretsFY2023$10,000
Sediment Design LLCFY2023$10,000
Scruggs AutoFY2023$10,000
Scotts Homestyle Cooking & CateringFY2023$10,000
Salon Out'landishFY2023$10,000
See all 1,829 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$4.9M
Ln 12
Gifts and grantsLn 1h$2.8M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$46K
Money outPt IX
$4.9M
Ln 25
Programscol B$4.7M
Managementcol C$274K
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
25
listed · VII A
PaidVII A7
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Government grantsLn 1e$2.8M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$46K
Gains on assetsLn 7−$13K
Total revenueLn 12$4.9M
Assets in detailPt X, end of year
CashLn 1$500
SavingsLn 2$2.4M
Cash and savings togetherLn 1–2$2.4M
InvestmentsLn 11–13$46K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.4M
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 527
VolunteersI 613
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.1M$2.4M
InvestmentsLn 11–13$70K$46K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$4.6M$4.6M
LiabilitiesLn 26$1.4M$1.4M
Net assetsLn 32$3.2M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.7M$1.7M
Pay of current officers, directors and key staffLn 5$776K$675K$101K
Other salaries and wagesLn 7$1.4M$1.3M$53K
Pension plan contributionsLn 8$121K$111K$10K
Other employee benefitsLn 9$202K$189K$13K
Payroll taxesLn 10$150K$135K$15K
Legal feesLn 11b$7K$4K$3K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$57K$44K$14K
Advertising and promotionLn 12$13K$13K$26
Office expensesLn 13$79K$70K$9K
OccupancyLn 16$73K$63K$10K
TravelLn 17$16K$15K$1K
Conferences, conventions and meetingsLn 19$21K$21K
InterestLn 20$8K$8K
Depreciation, depletion and amortizationLn 22$134K$132K$2K
InsuranceLn 23$17K$17K$277
Other expenses (24a–d)Ln 24$123K$119K$4K
Total functional expensesLn 25$4.9M$4.7M$274K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.3M$5.1M$140K$4.0M 990 PDF
FY2023 $6.5M$6.4M$180K$3.9M 990 PDF
FY2022 $10.3M$10.2M$165K$3.7M 990 PDF
FY2021 $7.8M$7.5M$261K$3.5M 990 PDF
FY2020 Viewing $4.9M$4.9M−$36K$3.2M 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $4,889,778 across 7 lines filed
VIII-1e Government grants$2,753,375
VIII-1h Total contributions, gifts and grants$2,753,375
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,090,851$2,090,851
VIII-3 Investment incomeExcluded from tax $59,002$59,002
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$13,063−$13,063
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$387−$387
VIII-12 Total revenueRelated to mission $2,090,851 · Unrelated business $0 · Excluded from tax $45,552$4,889,778
Part IX · Statement of functional expenses $4,925,553 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $1,724,325$1,724,325
IX-5 Pay of current officers, directors and key staffPrograms $674,892 · Management $100,859$775,751
IX-7 Other salaries and wagesPrograms $1,333,408 · Management $52,921$1,386,329
IX-8 Pension plan contributionsPrograms $110,652 · Management $10,207$120,859
IX-9 Other employee benefitsPrograms $189,314 · Management $12,544$201,858
IX-10 Payroll taxesPrograms $135,074 · Management $14,580$149,654
IX-11b Legal feesPrograms $4,324 · Management $2,971$7,295
IX-11c Accounting feesManagement $18,450$18,450
IX-11g Other fees for servicesPrograms $43,687 · Management $13,521$57,208
IX-12 Advertising and promotionPrograms $13,451 · Management $26$13,477
IX-13 Office expensesPrograms $69,923 · Management $8,644$78,567
IX-16 OccupancyPrograms $62,839 · Management $10,452$73,291
IX-17 TravelPrograms $14,573 · Management $1,007$15,580
IX-19 Conferences, conventions and meetingsManagement $21,277$21,277
IX-20 InterestPrograms $7,917$7,917
IX-22 Depreciation, depletion and amortizationPrograms $131,988 · Management $2,182$134,170
IX-23 InsurancePrograms $16,699 · Management $277$16,976
IX-24 Other expenses (24a–d)Programs $118,553 · Management $4,016$122,569
IX-25 Total functional expensesPrograms $4,651,619 · Management $273,934 · Fundraising $0$4,925,553
Part X · Balance sheet $4,609,721 assets, 16 lines filed
Asset lines not itemized here account for $685,302; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,280$500
X-2 Savings and temporary cash investmentsStart of year $2,112,517$2,411,407
X-3 Pledges and grants receivableStart of year $258,176$215,391
X-4 Accounts receivableStart of year $185,890$120,205
X-9 Prepaid expenses and deferred chargesStart of year $26,815$32,119
X-10c Land, buildings and equipment, netStart of year $1,162,223$1,099,295
X-12 Other securitiesStart of year $69,972$45,502
X-16 Total assetsStart of year $4,634,089$4,609,721
X-17 Accounts payable and accrued expensesStart of year $379,520$433,673
X-19 Deferred revenueStart of year $30,616$70,392
X-24 Unsecured notes and loans payableStart of year $799,920$741,941
X-25 Other liabilitiesStart of year $179,207$161,081
X-26 Total liabilitiesStart of year $1,389,263$1,407,087
X-27 Net assets without donor restrictionsStart of year $3,244,826$3,202,634
X-32 Total net assets or fund balancesStart of year $3,244,826$3,202,634
X-33 Total liabilities and net assetsStart of year $4,634,089$4,609,721
Part XI · Reconciliation of net assets $3,202,634 net assets at year end
XI-1 Total revenue$4,889,778
XI-2 Total expenses$4,925,553
XI-3 Revenue less expenses−$35,775
XI-4 Net assets at start of year$3,244,826
XI-5 Net unrealized gains (losses) on investments−$19,867
XI-9 Other changes in net assets$13,450
XI-10 Net assets at end of year$3,202,634

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

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