Civic Intelligence

Valley Shenango Economic Development Corporation

990 • Fiscal year 2020 • EIN 02-0707982

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileN/A
32 W State StSharon, PA 16146

(724) 981-1152

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

1.04x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

32.49x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

3rd percentile

-129%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

67th percentile

16%

Faster asset growth than 67% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

5.3%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$4,749,520

Up $639,771 (+16%) from 2019

Net Assets

Down

-$180,172

Down $196,014 (-1237%) from 2019

Liabilities

Up

$4,929,692

Up $835,785 (+20%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$151,750

Up $7,602 (+5.3%) from 2019

Expenses

Down

$347,764

Down $20,826 (-5.7%) from 2019

Net Income

Up

-$196,014

Up $28,428 (+13%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0MAssets 2010: $968,599Liabilities 2010: $1,268,605Net Assets 2010: -$300,0062010Assets 2011: $932,915Liabilities 2011: $1,268,605Net Assets 2011: -$335,6902011Assets 2012: $895,279Liabilities 2012: $1,268,605Net Assets 2012: -$373,3262012Assets 2013: $856,994Liabilities 2013: $1,268,605Net Assets 2013: -$411,6112013Assets 2014: $818,682Liabilities 2014: $1,268,605Net Assets 2014: -$449,9232014Assets 2015: $683,424Liabilities 2015: $0Net Assets 2015: $683,4242015Assets 2016: $746,368Liabilities 2016: $155,010Net Assets 2016: $591,3582016Assets 2017: $1,277,903Liabilities 2017: $721,379Net Assets 2017: $556,5242017Assets 2018: $2,756,093Liabilities 2018: $2,515,809Net Assets 2018: $240,2842018Assets 2019: $4,109,749Liabilities 2019: $4,093,907Net Assets 2019: $15,8422019Assets 2020: $4,749,520Liabilities 2020: $4,929,692Net Assets 2020: -$180,1722020Assets 2021: $5,842,702Liabilities 2021: $5,614,009Net Assets 2021: $228,6932021Assets 2022: $6,251,673Liabilities 2022: $5,614,009Net Assets 2022: $637,6642022Assets 2023: $7,917,632Liabilities 2023: $7,582,547Net Assets 2023: $335,0852023Assets 2024: $8,102,261Liabilities 2024: $7,687,286Net Assets 2024: $414,9752024

Highlighted filing

2020

Assets$4,749,520
Liabilities$4,929,692
Net Assets-$180,172
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,510,3142010Expenses 2011: $1,508,3662011Expenses 2012: $1,510,3142012Revenue 2013: $1,472,679Expenses 2013: $1,510,964Net Income 2013: -$38,2852013Revenue 2014: $1,472,680Expenses 2014: $1,510,992Net Income 2014: -$38,3122014Revenue 2015: $1,268,612Expenses 2015: $135,265Net Income 2015: $1,133,3472015Revenue 2016: $20,105Expenses 2016: $112,171Net Income 2016: -$92,0662016Revenue 2017: $79,674Expenses 2017: $114,508Net Income 2017: -$34,8342017Revenue 2018: $125,383Expenses 2018: $441,623Net Income 2018: -$316,2402018Revenue 2019: $144,148Expenses 2019: $368,590Net Income 2019: -$224,4422019Revenue 2020: $151,750Expenses 2020: $347,764Net Income 2020: -$196,0142020Revenue 2021: $799,472Expenses 2021: $389,757Net Income 2021: $409,7152021Revenue 2022: $799,319Expenses 2022: $390,348Net Income 2022: $408,9712022Revenue 2023: $863,434Expenses 2023: $663,842Net Income 2023: $199,5922023Revenue 2024: $447,094Expenses 2024: $367,204Net Income 2024: $79,8902024

Highlighted filing

2020

Revenue$151,750
Expenses$347,764
Net Income-$196,014
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$151,750
Mission and Program Overview

Mission

Its purpose is to lease space to companies in sharon, pa to help create jobs in a depressed area.

The organization is a pa not-for-profit economic development corporation. Its purpose is to attract business to the winner industrial park & to renovate the former westinghouse property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,807,615$4,442,809▲ $635,194
Cash and Non-Interest-Bearing Accounts$300,134$306,711▲ $6,577
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$15,842$-180,172▼ $196,014
Total Assets$4,109,749$4,749,520▲ $639,771
Other Assets Total$2,000$0▼ $2,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,093,907$4,927,975▲ $834,068
Accounts Payable and Accrued Expenses$0$1,717▲ $1,717
Total Liabilities$4,093,907$4,929,692▲ $835,785
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,842$-180,172▼ $196,014
Total Liabilities and Net Assets / Fund Balance$4,109,749$4,749,520▲ $639,771

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,435,810$575,505$5,011,315
Land$6,999-$6,999
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Clancy AtkinsonChairman
Amy AtkinsonDirector
Brad MantzellDirector
Frank GargiuloDirector
John KetteringDirector
Tom RoskosDirector
Charles MillerTreasurer and Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$5,000
Program Service Revenue
$146,750
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,000
Change in Net Assets
$-196,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$347,764
Total Fundraising Expense$7,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$136,665--$136,665
Depreciation Depletion$42,433--$42,433
Fees for Services Legal$39,900--$39,900
Fees for Services Other$32,511-$7,000$39,511
Occupancy$32,286--$32,286
Advertising$3,000--$3,000
Insurance$1,717--$1,717
Fees for Services Accounting$1,375--$1,375
Other Expenses$98--$98
Total Functional Expenses$340,764$0$7,000$347,764
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Clancy atkinson and amy atkinson are married.”

Form 990, Part VI, Section B, Line 11B

“The organization's governing body reviews the form 990 before filing the return. The governing body reviews the return for completeness and accuracy. The governing body will resolve any issues before filing.”

Form 990, Part VI, Section B, Line 12C

“Independent legal counsel reviews activity and relationships.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interst policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Valley Shenango Economic
EIN
02-0707982
Phone
7249811152
Address
32 W STATE ST, SHARON, PA 16146

Signing Officer

Name
Charles Miller
Title
CFO
Phone
7249811152
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Miller
Formed
2003
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Hill Barth & King LLC
Address
3110 HIGHLAND ROAD, HERMITAGE, PA 16148
Preparer
Dominic Mastropietro
Phone
7249817550
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services: program service expenses 32,511. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,511. Grant writing fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 7,000. Total expenses 7,000.”

Raw XML Appendix363 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt06999
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04442809
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CLANCY ATKINSON AND AMY ATKINSON ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING BODY REVIEWS THE FORM 990 BEFORE FILING THE RETURN. THE GOVERNING BODY REVIEWS THE RETURN FOR COMPLETENESS AND ACCURACY. THE GOVERNING BODY WILL RESOLVE ANY ISSUES BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDEPENDENT LEGAL COUNSEL REVIEWS ACTIVITY AND RELATIONSHIPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 32,511. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 32,511. GRANT WRITING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 7,000. TOTAL EXPENSES 7,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04109749
IRS990/TotalAssetsEOYAmt04749520
IRS990/TotalAssetsGrp/BOYAmt04109749
IRS990/TotalAssetsGrp/EOYAmt04749520
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt05000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07000
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0340764
IRS990/TotalFunctionalExpensesGrp/TotalAmt0347764
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04093907
IRS990/TotalLiabilitiesEOYAmt04929692
IRS990/TotalLiabilitiesGrp/BOYAmt04093907
IRS990/TotalLiabilitiesGrp/EOYAmt04929692
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015842
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-180172
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0340764
IRS990/TotalProgramServiceRevenueAmt0146750
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0146750
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0151750
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04109749
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04749520
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt032 W STATE ST
IRS990/USAddress/CityNm0SHARON
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd016146
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07249811152
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VALLEY SHENANGO ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0VALL
ReturnHeader/Filer/EIN0020707982
ReturnHeader/Filer/PhoneNum07249811152
ReturnHeader/Filer/USAddress/AddressLine1Txt032 W STATE ST
ReturnHeader/Filer/USAddress/CityNm0SHARON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016146
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341897225
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HILL BARTH & KING LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03110 HIGHLAND ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HERMITAGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd016148
ReturnHeader/PreparerPersonGrp/PhoneNum07249817550
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOMINIC MASTROPIETRO
ReturnHeader/ReturnTs02021-11-15T09:02:22-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHARLES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MILLER
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,749,520
Liabilities
$4,929,692
Net assets
-$180,172
Revenue
$151,750
Expenses
$347,764
Net income
-$196,014
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.10$7.69$0.41$0.45$0.37$0.08
2023Detailed filing. Detailed filing data is available for this year.$7.92$7.58$0.34$0.86$0.66$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.25$5.61$0.64$0.80$0.39$0.41
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.84$5.61$0.23$0.80$0.39$0.41
2020Detailed filing. Detailed filing data is available for this year.$4.75$4.93$0.18$0.15$0.35$0.20
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$4.09$0.02$0.14$0.37$0.22
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.76$2.52$0.24$0.13$0.44$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$0.72$0.56$0.08$0.11$0.03
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.16$0.59$0.02$0.11$0.09
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$0.00$0.68$1.27$0.14$1.13
2014Detailed filing. Detailed filing data is available for this year.$0.82$1.27$0.45$1.47$1.51$0.04
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.86$1.27$0.41$1.47$1.51$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$1.27$0.37$1.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$1.27$0.34$1.51
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$1.27$0.30$1.51