Civic Intelligence

Adams County Economic Development Corporation

990 • Fiscal year 2021 • EIN 23-2165947

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 21, 2022

1300 Proline PlaceGettysburg, PA 17325

(717) 334-0042

Siviq Scores

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

Liabilities / Assets

88th percentile

0.52x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

2.80x

Higher debt load relative to revenue than 98% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

57th percentile

14%

Higher net margin than 57% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

38th percentile

$102,882

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 17.8% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

14th percentile

-2.9%

Faster asset growth than 14% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

35th percentile

1.6%

Faster revenue growth than 35% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$3,137,424

Down $92,919 (-2.9%) from 2020

Net Assets

Up

$1,516,642

Up $79,826 (+5.6%) from 2020

Liabilities

Down

$1,620,782

Down $172,745 (-9.6%) from 2020

Revenue

Up

$578,405

Up $8,973 (+1.6%) from 2020

Expenses

Up

$498,579

Up $19,355 (+4.0%) from 2020

Net Income

Down

$79,826

Down $10,382 (-12%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,621,526Liabilities 2010: $1,424,265Net Assets 2010: $1,197,2612010Assets 2011: $2,619,254Liabilities 2011: $1,412,149Net Assets 2011: $1,207,1052011Assets 2012: $3,777,701Liabilities 2012: $2,587,755Net Assets 2012: $1,189,9462012Assets 2013: $4,223,083Liabilities 2013: $2,957,298Net Assets 2013: $1,265,7852013Assets 2014: $2,925,180Liabilities 2014: $1,787,176Net Assets 2014: $1,138,0042014Assets 2015: $2,387,467Liabilities 2015: $1,283,989Net Assets 2015: $1,103,4782015Assets 2016: $3,476,826Liabilities 2016: $2,356,902Net Assets 2016: $1,119,9242016Assets 2017: $3,475,936Liabilities 2017: $2,271,713Net Assets 2017: $1,204,2232017Assets 2018: $3,391,947Liabilities 2018: $2,109,686Net Assets 2018: $1,282,2612018Assets 2019: $3,275,113Liabilities 2019: $1,928,505Net Assets 2019: $1,346,6082019Assets 2020: $3,230,343Liabilities 2020: $1,793,527Net Assets 2020: $1,436,8162020Assets 2021: $3,137,424Liabilities 2021: $1,620,782Net Assets 2021: $1,516,6422021Assets 2022: $2,928,974Liabilities 2022: $1,434,096Net Assets 2022: $1,494,8782022Assets 2023: $3,073,988Liabilities 2023: $1,554,995Net Assets 2023: $1,518,9932023Assets 2024: $2,955,538Liabilities 2024: $1,343,573Net Assets 2024: $1,611,9652024

Highlighted filing

2021

Assets$3,137,424
Liabilities$1,620,782
Net Assets$1,516,642

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $452,5252010Expenses 2011: $369,0582011Revenue 2012: $360,301Expenses 2012: $408,710Net Income 2012: -$48,4092012Expenses 2013: $832,1682013Revenue 2014: $324,101Expenses 2014: $451,882Net Income 2014: -$127,7812014Revenue 2015: $427,873Expenses 2015: $462,399Net Income 2015: -$34,5262015Revenue 2016: $492,128Expenses 2016: $440,247Net Income 2016: $51,8812016Revenue 2017: $543,607Expenses 2017: $459,308Net Income 2017: $84,2992017Revenue 2018: $576,099Expenses 2018: $497,481Net Income 2018: $78,6182018Revenue 2019: $556,687Expenses 2019: $492,115Net Income 2019: $64,5722019Revenue 2020: $569,432Expenses 2020: $479,224Net Income 2020: $90,2082020Revenue 2021: $578,405Expenses 2021: $498,579Net Income 2021: $79,8262021Revenue 2022: $545,277Expenses 2022: $567,040Net Income 2022: -$21,7632022Revenue 2023: $667,695Expenses 2023: $643,580Net Income 2023: $24,1152023Revenue 2024: $892,776Expenses 2024: $799,804Net Income 2024: $92,9722024

Highlighted filing

2021

Revenue$578,405
Expenses$498,579
Net Income$79,826
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 21, 2022
Return Version
2021v4.0
Gross Receipts
$578,405
Mission and Program Overview

Mission

The adams county economic development corporation is a private, not-for- profit corporation dedicated to providing county-wide economic development services to benefit the citizens of adams acounty. The organization's programs are designed to assist existing employers and also to attract new employers to the adams county area. The organization's aim is to assist with job creation and job sustaining projects.

It is the mission of the adams county economic development corporation to develop and implement creative community-based strategies to enhance economic opportunity and foster a dynamic framework for balanced growth and development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,468,724$1,297,125▼ $171,599
Land, Buildings, and Equipment, Net$1,181,721$1,147,758▼ $33,963
Savings and Temporary Cash Investments$230,855$460,314▲ $229,459
Cash and Non-Interest-Bearing Accounts$330,434$205,493▼ $124,941
Prepaid Expenses and Deferred Charges$18,609$14,883▼ $3,726
Accounts Receivable-$11,851-
Total Assets$3,230,343$3,137,424▼ $92,919
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,779,780$1,600,295▼ $179,485
Accounts Payable and Accrued Expenses$4,764$11,604▲ $6,840
Escrow Account Liability$7,483$7,483→ $0
Deferred Revenue$1,500$1,400▼ $100
Total Liabilities$1,793,527$1,620,782▼ $172,745
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,436,816$1,516,642▲ $79,826
Total Net Assets Fund Balance$1,436,816$1,516,642▲ $79,826
Total Liabilities and Net Assets / Fund Balance$3,230,343$3,137,424▼ $92,919

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$811,719$641,865$1,453,584
Land$331,556-$331,556
Equipment$4,483$83,732$88,215
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robin FitzpatrickPresidentFT$87,907$14,975$102,882
Kaycee KemperVice PresideFT$72,823$12,987$85,810

Board Members and Trustees

NameTitle
Mike CoglianoChair
Pete MartinVice-chair
Barbara HartmanBoard Member
Carrie NaceBoard Member
Carrie StuartBoard Member
Chad CollieBoard Member
David LaughmanBoard Member
Joe MaldaBoard Member
Karl PeitrzakBoard Member
Marty QuallyBoard Member
Ned LeppoBoard Member
Nick BairBoard Member
Peter NorthBoard Member
Robert GordonBoard Member
Ron HankeyBoard Member
Shawn EckenrodeBoard Member
Steve RasmussenBoard Member
Wayne SteinourBoard Member
Shanon ToalSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$272,689
Program Service Revenue
$262,946
Investment Income
$34,014
Other Revenue
$8,756
All Other Contributions
$200
Change in Net Assets
$79,826

Audited Revenue Reconciliation

Revenue per Audited Statements
$578,405
Total Revenue per Audited Statements
$578,405
Total Revenue per Form 990
$578,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$250,114
Other Expenses$248,465
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$160,730
Occupancy---$69,047
Interest---$48,233
Depreciation Depletion---$37,654
Advertising---$33,264
Other Employee Benefits---$32,542
Other Salaries and Wages---$32,517
Fees for Services Accounting---$20,044
Payroll Taxes---$13,839
Insurance---$13,745
Pension Plan Contributions---$10,486
Office Expenses---$10,373
Conferences and Meetings---$4,290
Fees for Services Legal---$2,636
Other Expenses---$1,615
Total Functional Expenses$0$0$0$498,579

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$498,579
Total Expenses per Audited Statements$498,579
Total Expenses per Form 990$498,579
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

The 990 is reviewed by the president, chairman, and treasurer before filing. The remainder of the board has access to form 990 to review at any time after preparation.

Form 990, Page 6, Part VI, Line 12C

Any conflict of interest is discussed and resolved at the bi-monthly board meetings.

Form 990, Page 6, Part VI, Line 15A

The executive committee reviews and approves all compensation for top management.

Form 990, Page 6, Part VI, Line 15B

The executive committee reviews and approves all compensation for top management.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Adams County Economic Development
EIN
23-2165947
Phone
7173340042
Address
1300 PROLINE PLACE, GETTYSBURG, PA 17325

Signing Officer

Name
Robin Fitzpatrick
Title
President
Phone
7173340042
Signed
2022-06-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robin Fitzpatrick
Formed
1960
Legal Domicile
Pa
Voting Board Members
19
Independent Board Members
19
Employees
4

Preparer

Firm
Rkl Llp
Address
1134 KENNEBEC DRIVE, CHAMBERSBURG, PA 17201-2809
Preparer
Michael C Buhrman CPA
Phone
7172645961
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The adams county economic development corporation is a private, not-for- profit corporation dedicated to providing county-wide economic development services to benefit the citizens of adams county. The organization's programs are designed to assist existing employers and also to attract new employers to the adams county area. The organization's aim is to assist with job creation and job sustaining projects.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is a not-for-profit organization that is exempt from income taxes under section 501(c)(6) of the internal revenue code and classified by the internal revenue service as other than a private foundation. The organization follows generally accepted accounting principles, which provides guidance on accounting for uncertainty in income taxes recognized in the organization's financial statements. The organization has evaluated its tax positions for all open tax years and management believes all material tax positions taken would be upheld under examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the years ended december 31, 2021 and 2020. The organization's policy is to charge penalties and interest to income tax expense as incurred. The organization's federal income tax return is subject to examination by the internal revenue service, generally for a period of three years after the returns are filed.

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IRS990/MissionDesc0THE ADAMS COUNTY ECONOMIC DEVELOPMENT CORPORATION IS A PRIVATE, NOT-FOR- PROFIT CORPORATION DEDICATED TO PROVIDING COUNTY-WIDE ECONOMIC DEVELOPMENT SERVICES TO BENEFIT THE CITIZENS OF ADAMS COUNTY. THE ORGANIZATION'S PROGRAMS ARE DESIGNED TO ASSIST EXISTING EMPLOYERS AND ALSO TO ATTRACT NEW EMPLOYERS TO THE ADAMS COUNTY AREA. THE ORGANIZATION'S AIM IS TO ASSIST WITH JOB CREATION AND JOB SUSTAINING PROJECTS.
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
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IRS990/PrincipalOfficerNm0ROBIN FITZPATRICK
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IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEES
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IRS990/ProgramServiceRevenueGrp/Desc3MEMBERSHIP FEES
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IRS990/PYContributionsGrantsAmt0261728
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IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/EquipmentGrp/BookValueAmt04483
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION FOLLOWS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS AND MANAGEMENT BELIEVES ALL MATERIAL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020. THE ORGANIZATION'S POLICY IS TO CHARGE PENALTIES AND INTEREST TO INCOME TAX EXPENSE AS INCURRED. THE ORGANIZATION'S FEDERAL INCOME TAX RETURN IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0498579
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ADAMS COUNTY ECONOMIC DEVELOPMENT CORPORATION IS A PRIVATE, NOT-FOR- PROFIT CORPORATION DEDICATED TO PROVIDING COUNTY-WIDE ECONOMIC DEVELOPMENT SERVICES TO BENEFIT THE CITIZENS OF ADAMS COUNTY. THE ORGANIZATION'S PROGRAMS ARE DESIGNED TO ASSIST EXISTING EMPLOYERS AND ALSO TO ATTRACT NEW EMPLOYERS TO THE ADAMS COUNTY AREA. THE ORGANIZATION'S AIM IS TO ASSIST WITH JOB CREATION AND JOB SUSTAINING PROJECTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE PRESIDENT, CHAIRMAN, AND TREASURER BEFORE FILING. THE REMAINDER OF THE BOARD HAS ACCESS TO FORM 990 TO REVIEW AT ANY TIME AFTER PREPARATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY CONFLICT OF INTEREST IS DISCUSSED AND RESOLVED AT THE BI-MONTHLY BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES ALL COMPENSATION FOR TOP MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES ALL COMPENSATION FOR TOP MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0471506346
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0DEVELOP MA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0ADAMS COMMERCE CENTER DEVELOPMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine2Txt0ASSOCIATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt01300 PROLINE PLACE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0GETTYSBURG
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd017325
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ADAMS COUNTY INDUSTRIAL DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ADAMS COUNTY GENERAL AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0AUTHORITY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOCAL BUS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1LOCAL BUS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01300 PROLINE PLACE

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.96$1.34$1.61$0.89$0.80$0.09
2023Detailed filing. Detailed filing data is available for this year.$3.07$1.55$1.52$0.67$0.64$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.93$1.43$1.49$0.55$0.57$0.02
2021Detailed filing. Detailed filing data is available for this year.$3.14$1.62$1.52$0.58$0.50$0.08
2020Detailed filing. Detailed filing data is available for this year.$3.23$1.79$1.44$0.57$0.48$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.28$1.93$1.35$0.56$0.49$0.06
2018Detailed filing. Detailed filing data is available for this year.$3.39$2.11$1.28$0.58$0.50$0.08
2017Detailed filing. Detailed filing data is available for this year.$3.48$2.27$1.20$0.54$0.46$0.08
2016Detailed filing. Detailed filing data is available for this year.$3.48$2.36$1.12$0.49$0.44$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.39$1.28$1.10$0.43$0.46$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.93$1.79$1.14$0.32$0.45$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.22$2.96$1.27$0.83
2012Summary only. Only limited summary data is available for this year.$3.78$2.59$1.19$0.36$0.41$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$1.41$1.21$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$1.42$1.20$0.45