Civic Intelligence

Fulton Industrial Development Assn C/O Paul Johnston

990 • Fiscal year 2019 • EIN 23-6296091

Dec 01, 2018 to Nov 30, 2019 • Filed on Sep 25, 2020

101 Lincoln Way West Suite 102Mcconnellsburg, PA 17233

(717) 485-3012

Siviq Scores

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

Liabilities / Assets

71st percentile

0.34x

Higher debt load relative to assets than 71% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

15.91x

Higher debt load relative to revenue than 100% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

2nd percentile

-39%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$1,256

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

28th percentile

-0.8%

Faster asset growth than 28% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

6th percentile

-22%

Faster revenue growth than 6% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$3,643,000

Down $28,727 (-0.8%) from 2018

Net Assets

Down

$2,417,999

Down $29,892 (-1.2%) from 2018

Liabilities

Up

$1,225,001

Up $1,165 (+0.1%) from 2018

Revenue

Down

$76,974

Down $21,778 (-22%) from 2018

Expenses

Down

$106,866

Down $7,318 (-6.4%) from 2018

Net Income

Down

-$29,892

Down $14,460 (-94%) from 2018

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $3,795,287Liabilities 2017: $1,331,964Net Assets 2017: $2,463,3232017Assets 2018: $3,671,727Liabilities 2018: $1,223,836Net Assets 2018: $2,447,8912018Assets 2019: $3,643,000Liabilities 2019: $1,225,001Net Assets 2019: $2,417,9992019Assets 2020: $3,626,552Liabilities 2020: $1,225,418Net Assets 2020: $2,401,1342020Assets 2021: $3,605,304Liabilities 2021: $1,215,927Net Assets 2021: $2,389,3772021Assets 2022: $3,585,141Liabilities 2022: $1,223,941Net Assets 2022: $2,361,2002022Assets 2023: $3,548,352Liabilities 2023: $1,192,648Net Assets 2023: $2,355,7042023Assets 2024: $3,524,316Liabilities 2024: $1,197,887Net Assets 2024: $2,326,4292024Assets 2025: $3,519,963Liabilities 2025: $1,201,715Net Assets 2025: $2,318,2482025

Highlighted filing

2019

Assets$3,643,000
Liabilities$1,225,001
Net Assets$2,417,999

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2017: $96,732Expenses 2017: $113,210Net Income 2017: -$16,4782017Revenue 2018: $98,752Expenses 2018: $114,184Net Income 2018: -$15,4322018Revenue 2019: $76,974Expenses 2019: $106,866Net Income 2019: -$29,8922019Revenue 2020: $97,067Expenses 2020: $101,611Net Income 2020: -$4,5442020Revenue 2021: $100,512Expenses 2021: $112,269Net Income 2021: -$11,7572021Revenue 2022: $85,863Expenses 2022: $114,040Net Income 2022: -$28,1772022Revenue 2023: $106,042Expenses 2023: $111,538Net Income 2023: -$5,4962023Revenue 2024: $81,885Expenses 2024: $111,160Net Income 2024: -$29,2752024Revenue 2025: $103,226Expenses 2025: $111,407Net Income 2025: -$8,1812025

Highlighted filing

2019

Revenue$76,974
Expenses$106,866
Net Income-$29,892
Jump To
Filing Snapshot
Filing Period
Dec 1, 2018 to Nov 30, 2019
Signed
Sep 25, 2020
Return Version
2018v3.2
Gross Receipts
$76,974
Mission and Program Overview

Mission

To borrow money necessary to buy, receive, lease, sell and convey real and personal property and to negotiate with commercial and industrial facilities for the industrial devleopment and civic betterment of fulton county.

Assist local companies in obtaining low interest financing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$3,277,678$3,277,678→ $0
Land, Buildings, and Equipment, Net$344,126$323,573▼ $20,553
Cash and Non-Interest-Bearing Accounts$49,923$41,749▼ $8,174
Total Assets$3,671,727$3,643,000▼ $28,727
Liabilities
Mortgage Notes Payable Secured by Investment Property$985,357$968,522▼ $16,835
Accounts Payable and Accrued Expenses$238,479$256,479▲ $18,000
Total Liabilities$1,223,836$1,225,001▲ $1,165
Net Assets / Fund Balance
Unrestricted Net Assets$2,447,891$2,417,999▼ $29,892
Total Net Assets Fund Balance$2,447,891$2,417,999▼ $29,892
Total Liabilities and Net Assets / Fund Balance$3,671,727$3,643,000▼ $28,727

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$263,573$503,670$767,243
Land$60,000-$60,000
Equipment-$2,551$2,551
Compensation and Service Providers

Employees

NameTitleBaseTotal
Paul JohnstonExecutive Di$1,256$1,256
Rick StraitTreasurer$500$500
Wendy MeliusSecretary$500$500

Board Members and Trustees

NameTitle
David a Washabaugh IvPresident
Bill PalmerDirector
Bonnie Mellott-keeferDirector
Larry PalmerDirector
Mac MageeDirector
Marlin LynchDirector
Mike CramptonDirector
Mike Makosky CEODirector
Walter BarmontDirector
John DuffeyExecutive Di
Clyde H BookheimerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$6,311
Program Service Revenue
$69,996
Investment Income
$0
Other Revenue
$667
Change in Net Assets
$-29,892
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$106,866
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---$37,949
Occupancy---$22,958
Depreciation Depletion---$20,553
Insurance---$14,536
Fees for Services Other---$7,432
Fees for Services Accounting---$2,150
Office Expenses---$1,011
Other Expenses---$56
Total Functional Expenses$0$0$0$106,866
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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 treasurer of the association reviews the form 990 before it is submitted.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents and form 990 are made available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Fulton Industrial Development Assn
EIN
23-6296091
Phone
7174853012
Address
101 LINCOLN WAY WEST SUITE 102, MCCONNELLSBURG, PA 17233

Signing Officer

Name
John Duffey
Title
Executive Director
Phone
7174853012
Signed
2020-09-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David a Washabaugh Iv
Formed
1981
Legal Domicile
Pa
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Smith Elliott Kearns & Company LLC
Address
804 WAYNE AVE, CHAMBERSBURG, PA 17201-3810
Preparer
Craig E Witmer CPA
Phone
7172633910
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