Alloy Development Co INC FY2021 filing

Not tax-deductible

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

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

91¢ of each $1 spent went to programs.
$971K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$971K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.8M
+60% vs prior year
Spent
$7.5M
To programs
91%
Net assets
$3.5M
By yearFY2020–FY2024
Revenue
$7.8M
FY2021▲ +60%
Revenue by fiscal year
FY2020$4.9M
FY2021$7.8M
FY2022$10.3M
FY2023$6.5M
FY2024$5.3M
FY2024$4.8M
Expenses
$7.5M
FY2021▲ +53%
Expenses by fiscal year
FY2020$4.9M
FY2021$7.5M
FY2022$10.2M
FY2023$6.4M
FY2024$5.1M
FY2024$4.4M
Net assets
$3.5M
FY2021▲ +8%
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 FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jun 1988.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $6.9M Management & general 9% · $656K

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

Who runs it and what they're paid

24 people listed on the 990; $971K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Vice President/Lending Dir
$191,156Pt VII · Sec A
President
$182,983Pt VII · Sec A
Vice President/Ed Director
$167,678Pt VII · Sec A
Senior Director
$115,302Pt VII · Sec A
Loan Officer
$110,013Pt VII · Sec A
Director of Loan Operation
$109,598Pt VII · Sec A
Former CFO
$51,469Pt VII · Sec A
Former Vice President/Comptroller
$43,005Pt 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

This section is blank until Alloy Development Co INC claims this page.

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2 program services account for $6.9M of program spending, described in the organization's own filed words · FY2020.
01

The economic development division serves as a comprehensive economic development entity in hamilton county. The division seeks to improve the economic well-being of the communities and businesses it serves via economic development programming.

$5.9Mprogram expense
02

The commercial capital division assists businesses via the U.S. Small business administration certified development company loan program and the ohio regional 166 loan program.

$960Kprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$7.8M
Ln 12
Gifts and grantsLn 1h$5.0M
Fees for servicesLn 2g$2.8M
Investment incomeLn 3$24K
Money outPt IX
$7.5M
Ln 25
Programscol B$6.9M
Managementcol C$656K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$4.7M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
24
listed · VII A
PaidVII A8
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.0M
Government grantsLn 1e$5.0M
Fees for servicesLn 2g$2.8M
Investment incomeLn 3$24K
Other incomeLn 4–11$4K
Gains on assetsLn 7$18K
Total revenueLn 12$7.8M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$2.6M
Cash and savings togetherLn 1–2$2.6M
InvestmentsLn 11–13$64K
Land, buildings, equipmentLn 10c$991K
Total assetsLn 16$4.7M
LiabilitiesLn 26$1.3M
Net assetsLn 32$3.5M
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 FY21End FY21
Cash and savingsLn 1–2$2.4M$2.6M
InvestmentsLn 11–13$46K$64K
Land, buildings, equipmentLn 10c$1.1M$991K
Total assetsLn 16$4.6M$4.7M
LiabilitiesLn 26$1.4M$1.3M
Net assetsLn 32$3.2M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5.0M$5.0M
Pay of current officers, directors and key staffLn 5$735K$574K$161K
Other salaries and wagesLn 7$989K$904K$85K
Pension plan contributionsLn 8$49K$44K$5K
Other employee benefitsLn 9$123K$124K−$1K
Payroll taxesLn 10$116K$109K$7K
Legal feesLn 11b$43K$15K$27K
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$56K$50K$6K
Advertising and promotionLn 12$55K$7K$48K
Office expensesLn 13$25K$9K$15K
Information technologyLn 14$7K$48$7K
OccupancyLn 16$76K$76K
TravelLn 17$9K$8K$1K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$108K$108K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$135K$56K$80K
Total functional expensesLn 25$7.5M$6.9M$656K$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 Viewing $7.8M$7.5M$261K$3.5M 990 PDF
FY2020 $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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $7,810,614 across 7 lines filed
VIII-1e Government grants$4,964,013
VIII-1h Total contributions, gifts and grants$4,964,013
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,817,801$2,817,801
VIII-3 Investment incomeExcluded from tax $5,965$5,965
VIII-7 Net gain or loss on sales of assetsExcluded from tax $18,335$18,335
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,500$4,500
VIII-12 Total revenueRelated to mission $2,817,801 · Unrelated business $0 · Excluded from tax $28,800$7,810,614
Part IX · Statement of functional expenses $7,549,387 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $4,964,013$4,964,013
IX-5 Pay of current officers, directors and key staffPrograms $573,627 · Management $161,466$735,093
IX-7 Other salaries and wagesPrograms $903,727 · Management $85,063$988,790
IX-8 Pension plan contributionsPrograms $43,519 · Management $5,071$48,590
IX-9 Other employee benefitsPrograms $124,114 · Management −$1,269$122,845
IX-10 Payroll taxesPrograms $109,192 · Management $7,138$116,330
IX-11b Legal feesPrograms $15,171 · Management $27,363$42,534
IX-11c Accounting feesPrograms $22,484$22,484
IX-11g Other fees for servicesPrograms $49,693 · Management $6,145$55,838
IX-12 Advertising and promotionPrograms $7,255 · Management $48,178$55,433
IX-13 Office expensesPrograms $9,337 · Management $15,210$24,547
IX-14 Information technologyPrograms $48 · Management $7,430$7,478
IX-16 OccupancyManagement $75,541$75,541
IX-17 TravelPrograms $8,002 · Management $1,043$9,045
IX-20 InterestPrograms $7,304$7,304
IX-22 Depreciation, depletion and amortizationManagement $107,978$107,978
IX-23 InsuranceManagement $30,331$30,331
IX-24 Other expenses (24a–d)Programs $55,577 · Management $79,636$135,213
IX-25 Total functional expensesPrograms $6,893,063 · Management $656,324 · Fundraising $0$7,549,387
Part X · Balance sheet $4,726,609 assets, 17 lines filed
Asset lines not itemized here account for $646,821; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $500$0
X-2 Savings and temporary cash investmentsStart of year $2,411,407$2,566,548
X-3 Pledges and grants receivableStart of year $215,391$0
X-4 Accounts receivableStart of year $120,205$433,835
X-9 Prepaid expenses and deferred chargesStart of year $32,119$24,250
X-10c Land, buildings and equipment, netStart of year $1,099,295$991,318
X-12 Other securitiesStart of year $45,502$63,837
X-16 Total assetsStart of year $4,609,721$4,726,609
X-17 Accounts payable and accrued expensesStart of year $433,673$388,404
X-19 Deferred revenueStart of year $70,392$75,441
X-24 Unsecured notes and loans payableStart of year $741,941$683,350
X-25 Other liabilitiesStart of year $161,081$115,552
X-26 Total liabilitiesStart of year $1,407,087$1,262,747
X-27 Net assets without donor restrictionsStart of year $3,202,634$3,427,177
X-28 Net assets with donor restrictions$36,685
X-32 Total net assets or fund balancesStart of year $3,202,634$3,463,862
X-33 Total liabilities and net assetsStart of year $4,609,721$4,726,609
Part XI · Reconciliation of net assets $3,463,862 net assets at year end
XI-1 Total revenue$7,810,614
XI-2 Total expenses$7,549,387
XI-3 Revenue less expenses$261,227
XI-4 Net assets at start of year$3,202,634
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,463,862

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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