Civic Intelligence

Valley Shenango Economic Development Corporation

990 • Fiscal year 2022 • EIN 02-0707982

Jan 01, 2022 to Dec 31, 2022 • Filed on Jan 29, 2024

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

0.98x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

25.32x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

9th percentile

-33%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

82nd percentile

25%

Faster asset growth than 82% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

4th percentile

-65%

Faster revenue growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$7,296,515

Up $1,044,842 (+17%) from 2022

Net Assets

Down

$135,493

Down $502,171 (-79%) from 2022

Liabilities

Up

$7,161,022

Up $1,547,013 (+28%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin9th percentile

Revenue

Down

$282,783

Down $516,536 (-65%) from 2022

Expenses

Down

$375,983

Down $14,365 (-3.7%) from 2022

Net Income

Down

-$93,200

Down $502,171 (-123%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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 2022: $7,296,515Liabilities 2022: $7,161,022Net Assets 2022: $135,4932022Assets 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

2022

Assets$7,296,515
Liabilities$7,161,022
Net Assets$135,493
Open 2022 Filing

Operations Trend

Revenue Growth4th 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 2022: $282,783Expenses 2022: $375,983Net Income 2022: -$93,2002022Revenue 2023: $863,434Expenses 2023: $663,842Net Income 2023: $199,5922023Revenue 2024: $447,094Expenses 2024: $367,204Net Income 2024: $79,8902024

Highlighted filing

2022

Revenue$282,783
Expenses$375,983
Net Income-$93,200
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jan 29, 2024
Return Version
2022v5.0
Gross Receipts
$282,783
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$4,876,321$6,584,350▲ $1,708,029
Cash and Non-Interest-Bearing Accounts$966,381$712,165▼ $254,216
Rtn Earn Endowment Incm Other Fnds$228,693$135,493▼ $93,200
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$5,842,702$7,296,515▲ $1,453,813
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,613,559$7,160,572▲ $1,547,013
Accounts Payable and Accrued Expenses$450$450→ $0
Total Liabilities$5,614,009$7,161,022▲ $1,547,013
Net Assets / Fund Balance
Total Net Assets Fund Balance$228,693$135,493▼ $93,200
Total Liabilities and Net Assets / Fund Balance$5,842,702$7,296,515▲ $1,453,813

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,577,351$670,689$7,248,040
Land$6,999-$6,999
Compensation and Service Providers
Top Officer Pay22nd 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
$16,813
Program Service Revenue
$265,970
Investment Income
$0
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$-93,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$375,983
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$131,150--$131,150
Other Expenses$70,323--$70,323
Fees for Services Other$65,823--$65,823
Occupancy$55,200--$55,200
Depreciation Depletion$47,592--$47,592
Advertising$4,178--$4,178
Insurance$1,717--$1,717
Total Functional Expenses$375,983$0$0$375,983
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
2024-01-29
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

Line B - Amended Return

“The form 990 is being amended to reflect the changes of contributions received and expenses paid. In addition, there was a donation recevied that required schedule b to be filed.”

Form 990, Part IX, Line 11G

“Contract services: program service expenses 65,823. Management and general expenses 0. Fundraising expenses 0. Total expenses 65,823.”

Raw XML Appendix368 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt06577351
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0670689
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07248040
IRS990ScheduleD/LandGrp/BookValueAmt06999
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt06999
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06584350
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS BEING AMENDED TO REFLECT THE CHANGES OF CONTRIBUTIONS RECEIVED AND EXPENSES PAID. IN ADDITION, THERE WAS A DONATION RECEVIED THAT REQUIRED SCHEDULE B TO BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CLANCY ATKINSON AND AMY ATKINSON ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3INDEPENDENT LEGAL COUNSEL REVIEWS ACTIVITY AND RELATIONSHIPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 65,823. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 65,823.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0LINE B - AMENDED RETURN
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 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/TotalAssetsBOYAmt05842702
IRS990/TotalAssetsEOYAmt07296515
IRS990/TotalAssetsGrp/BOYAmt05842702
IRS990/TotalAssetsGrp/EOYAmt07296515
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt016813
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0375983
IRS990/TotalFunctionalExpensesGrp/TotalAmt0375983
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05614009
IRS990/TotalLiabilitiesEOYAmt07161022
IRS990/TotalLiabilitiesGrp/BOYAmt05614009
IRS990/TotalLiabilitiesGrp/EOYAmt07161022
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0228693
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0135493
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0375983
IRS990/TotalProgramServiceRevenueAmt0265970
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0265970
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0282783
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05842702
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07296515
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07249811152
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-29
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/IRSResponsiblePrtyInfoCurrInd00
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/PreparationDt02024-01-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOMINIC MASTROPIETRO
ReturnHeader/ReturnTs02024-02-27T07:50:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHARLES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MILLER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,296,515
Liabilities
$7,161,022
Net assets
$135,493
Revenue
$282,783
Expenses
$375,983
Net income
-$93,200
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
2022Detailed filing. Detailed filing data is available for this year.$7.30$7.16$0.14$0.28$0.38$0.09
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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