Alloy Development Co INC FY2022 filing

Not tax-deductible

Cincinnati, OH501(c)(4)Since 1983EIN 31-1061640Revenue $10.3M in FY2022

On file with the IRSalloydev.org1776 Mentor Ave Ste 100, 45212-3595 · Cincinnati, OHTax-exempt since Jun 1988

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

92¢ of each $1 spent went to programs.
$836K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $197K a year · 3% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$836K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
33% of total assets
Looks good: liabilities are 33% 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
$10.3M
+32% vs prior year
Spent
$10.2M
To programs
92%
Net assets
$3.7M
By yearFY2020–FY2025
Revenue
$10.3M
FY2022▲ +32%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.9M
FY2021$7.8M
FY2022$10.3M
FY2023$6.5M
FY2024$5.3M
FY2025$4.8M
Expenses
$10.2M
FY2022▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.9M
FY2021$7.5M
FY2022$10.2M
FY2023$6.4M
FY2024$5.1M
FY2025$4.4M
Net assets
$3.7M
FY2022▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$3.5M
FY2022$3.7M
FY2023$3.9M
FY2024$4.0M
FY2025$4.5M

From the FY2022 Form 990 (year ending September 2022) · 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: FY2025. IRS ruling in Jun 1988.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $9.4M Management & general 8% · $780K

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

22 people listed on the 990; $836K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$201,156Pt VII · Sec A
Senior VP/Ed Director
$169,146Pt VII · Sec A
Senior VP/Commercial Capital
$168,530Pt VII · Sec A
Vice President/Ed Director
$119,838Pt VII · Sec A
Vice President/Commercial Capital
$107,970Pt VII · Sec A
VP, Finance/HR
$69,490Pt VII · Sec A
Member, Board of Directors
$0Pt VII · Sec A
Member, Board of Directors
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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.

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Provided by the organization

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2 programs · $9.4M · in their own filed words · FY2021
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.

$8.1Mprogram 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.

$1.3Mprogram 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 · 1,829 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$10.3M
Ln 12
Gifts and grantsLn 1h$8.2M
Fees for servicesLn 2g$2.1M
Other incomeLn 4–11$14K
Money outPt IX
$10.2M
Ln 25
Programscol B$9.4M
Managementcol C$780K
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$5.5M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
22
listed · VII A
PaidVII A6
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.2M
Government grantsLn 1e$8.1M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$4K
Other incomeLn 4–11$14K
Total revenueLn 12$10.3M
Assets in detailPt X, end of year
SavingsLn 2$3.1M
Cash and savings togetherLn 1–2$3.1M
InvestmentsLn 11–13$115K
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$5.5M
LiabilitiesLn 26$1.8M
Net assetsLn 32$3.7M
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 FY22End FY22
Cash and savingsLn 1–2$2.6M$3.1M
InvestmentsLn 11–13$64K$115K
Land, buildings, equipmentLn 10c$991K$1.5M
Total assetsLn 16$4.7M$5.5M
LiabilitiesLn 26$1.3M$1.8M
Net assetsLn 32$3.5M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.0M$7.0M
Pay of current officers, directors and key staffLn 5$1.0M$867K$153K
Other salaries and wagesLn 7$1.2M$1.1M$112K
Pension plan contributionsLn 8$52K$44K$7K
Other employee benefitsLn 9$55K$52K$3K
Payroll taxesLn 10$134K$113K$21K
Legal feesLn 11b$47K$41K$6K
Accounting feesLn 11c$25K$24K$804
Other fees for servicesLn 11g$120K$70K$50K
Advertising and promotionLn 12$120K$15K$105K
Office expensesLn 13$43K$17K$26K
OccupancyLn 16$144K$6K$137K
TravelLn 17$42K$28K$14K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$109K$109K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$42K$39K$3K
Total functional expensesLn 25$10.2M$9.4M$780K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.8M$4.4M$471K$4.5M 990 PDF
FY2024 $5.3M$5.1M$140K$4.0M 990 PDF
FY2023 $6.5M$6.4M$180K$3.9M 990 PDF
FY2022 Viewing $10.3M$10.2M$165K$3.7M 990 PDF
FY2021 $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 FY2022 990 (6 parts)
Part I · Summary $10,336,501 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,964,013$8,186,466
I-9 Program service revenuePrior year $2,817,801$2,131,508
I-10 Investment incomePrior year $24,300$4,278
I-11 Other revenuePrior year $4,500$14,249
I-12 Total revenuePrior year $7,810,614$10,336,501
I-13 Grants and similar amounts paidPrior year $4,964,013$7,001,880
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,011,648$2,439,006
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $573,726$730,525
I-18 Total expensesPrior year $7,549,387$10,171,411
I-19 Revenue less expensesPrior year $261,227$165,090
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $10,336,501 across 7 lines filed
VIII-1e Government grants$8,122,061
VIII-1f All other contributions, gifts and grants$64,405
VIII-1h Total contributions, gifts and grants$8,186,466
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,131,508$2,131,508
VIII-3 Investment incomeExcluded from tax $4,278$4,278
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,249$14,249
VIII-12 Total revenueRelated to mission $2,145,757 · Unrelated business $0 · Excluded from tax $4,278$10,336,501
Part IX · Statement of functional expenses $10,171,411 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $7,001,880$7,001,880
IX-5 Pay of current officers, directors and key staffPrograms $866,628 · Management $152,935$1,019,563
IX-7 Other salaries and wagesPrograms $1,067,102 · Management $111,671$1,178,773
IX-8 Pension plan contributionsPrograms $44,321 · Management $7,206$51,527
IX-9 Other employee benefitsPrograms $52,128 · Management $3,329$55,457
IX-10 Payroll taxesPrograms $112,646 · Management $21,040$133,686
IX-11b Legal feesPrograms $41,082 · Management $6,354$47,436
IX-11c Accounting feesPrograms $23,736 · Management $804$24,540
IX-11g Other fees for servicesPrograms $69,572 · Management $50,351$119,923
IX-12 Advertising and promotionPrograms $15,151 · Management $105,261$120,412
IX-13 Office expensesPrograms $17,316 · Management $25,587$42,903
IX-16 OccupancyPrograms $6,195 · Management $137,387$143,582
IX-17 TravelPrograms $28,447 · Management $13,640$42,087
IX-20 InterestPrograms $6,707$6,707
IX-22 Depreciation, depletion and amortizationManagement $108,934$108,934
IX-23 InsuranceManagement $32,389$32,389
IX-24 Other expenses (24a–d)Programs $38,702 · Management $2,910$41,612
IX-25 Total functional expensesPrograms $9,391,613 · Management $779,798 · Fundraising $0$10,171,411
Part X · Balance sheet $5,524,994 assets, 15 lines filed
Asset lines not itemized here account for $436,295; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $2,566,548$3,058,169
X-4 Accounts receivableStart of year $433,835$381,140
X-9 Prepaid expenses and deferred chargesStart of year $24,250$21,080
X-10c Land, buildings and equipment, netStart of year $991,318$1,513,053
X-12 Other securitiesStart of year $63,837$115,257
X-16 Total assetsStart of year $4,726,609$5,524,994
X-17 Accounts payable and accrued expensesStart of year $388,404$516,591
X-19 Deferred revenueStart of year $75,441$9,000
X-24 Unsecured notes and loans payableStart of year $683,350$1,101,688
X-25 Other liabilitiesStart of year $115,552$217,343
X-26 Total liabilitiesStart of year $1,262,747$1,844,622
X-27 Net assets without donor restrictionsStart of year $3,427,177$3,680,372
X-28 Net assets with donor restrictionsStart of year $36,685$0
X-32 Total net assets or fund balancesStart of year $3,463,862$3,680,372
X-33 Total liabilities and net assetsStart of year $4,726,609$5,524,994
Part XI · Reconciliation of net assets $3,680,372 net assets at year end
XI-1 Total revenue$10,336,501
XI-2 Total expenses$10,171,411
XI-3 Revenue less expenses$165,090
XI-4 Net assets at start of year$3,463,862
XI-5 Net unrealized gains (losses) on investments$51,420
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,680,372

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

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