Civic Intelligence

Spedd Inc.

990 • Fiscal year 2019 • EIN 25-1188760

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 22, 2020

Organization Profile

View Organization Page

1129 Industrial Park Road Ste 119Vandergrift, PA 15690

(724) 568-4188

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$28,228,196

Flat from 2019

Net Assets

Flat

$10,671,134

Flat from 2019

Liabilities

Flat

$17,557,062

Flat from 2019

Revenue And Expenses

Revenue

Flat

$3,968,195

Flat from 2019

Expenses

Flat

$3,008,730

Flat from 2019

Net Income

Flat

$959,465

Flat from 2019

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2015: $27,969,473Liabilities 2015: $19,552,663Net Assets 2015: $8,416,8102015Assets 2016: $27,493,676Liabilities 2016: $18,991,678Net Assets 2016: $8,501,9982016Assets 2017: $27,649,183Liabilities 2017: $18,946,262Net Assets 2017: $8,702,9212017Assets 2018: $28,035,586Liabilities 2018: $18,323,917Net Assets 2018: $9,711,6692018Assets 2019: $28,228,196Liabilities 2019: $17,557,062Net Assets 2019: $10,671,1342019Assets 2019: $28,228,196Liabilities 2019: $17,557,062Net Assets 2019: $10,671,1342019Assets 2020: $27,256,788Liabilities 2020: $16,097,508Net Assets 2020: $11,159,2802020Assets 2021: $27,500,100Liabilities 2021: $15,120,806Net Assets 2021: $12,379,2942021Assets 2022: $27,841,148Liabilities 2022: $14,257,823Net Assets 2022: $13,583,3252022Assets 2023: $28,692,805Liabilities 2023: $14,826,676Net Assets 2023: $13,866,1292023Assets 2024: $28,631,323Liabilities 2024: $13,646,825Net Assets 2024: $14,984,4982024Assets 2025: $28,788,923Liabilities 2025: $12,450,417Net Assets 2025: $16,338,5062025

Highlighted filing

2019

Assets$28,228,196
Liabilities$17,557,062
Net Assets$10,671,134
Open 2019 Filing

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2015: $3,280,144Expenses 2015: $3,081,183Net Income 2015: $198,9612015Revenue 2016: $3,052,200Expenses 2016: $2,967,007Net Income 2016: $85,1932016Revenue 2017: $3,190,248Expenses 2017: $2,989,329Net Income 2017: $200,9192017Revenue 2018: $3,962,920Expenses 2018: $2,954,172Net Income 2018: $1,008,7482018Revenue 2019: $3,968,195Expenses 2019: $3,008,730Net Income 2019: $959,4652019Revenue 2019: $3,968,195Expenses 2019: $3,008,730Net Income 2019: $959,4652019Revenue 2020: $3,387,014Expenses 2020: $2,898,868Net Income 2020: $488,1462020Revenue 2021: $4,058,990Expenses 2021: $2,838,976Net Income 2021: $1,220,0142021Revenue 2022: $4,019,412Expenses 2022: $2,815,381Net Income 2022: $1,204,0312022Revenue 2023: $3,034,418Expenses 2023: $2,751,614Net Income 2023: $282,8042023Revenue 2024: $3,987,457Expenses 2024: $2,869,088Net Income 2024: $1,118,3692024Revenue 2025: $4,412,783Expenses 2025: $3,058,775Net Income 2025: $1,354,0082025

Highlighted filing

2019

Revenue$3,968,195
Expenses$3,008,730
Net Income$959,465
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 22, 2020
Return Version
2018v3.2
Gross Receipts
$3,968,195
Mission and Program Overview

Mission

To increase employment opportunities and improve deteriorating neighborhoods in western pennsylvania through the rehabilitation of neglected industrial and commercial properties into business incubators and new venture facilities which assist small business in growing and creating jobs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,467,351$24,322,991▼ $144,360
Investments Program Related$2,155,857$2,539,928▲ $384,071
Accounts Receivable$775,135$811,060▲ $35,925
Loans From Officers Directors$406,019$406,019→ $0
Intangible Assets$202,897$208,218▲ $5,321
Other Notes and Loans Receivable, Net$162,151$132,151▼ $30,000
Cash and Non-Interest-Bearing Accounts$177,374$130,542▼ $46,832
Prepaid Expenses and Deferred Charges$9,277$2,844▼ $6,433
Total Assets$28,035,586$28,228,196▲ $192,610
Other Assets Total$85,544$80,462▼ $5,082
Liabilities
Unsecured Notes Loans Payable$15,616,224$14,953,406▼ $662,818
Other Liabilities$1,643,197$1,566,140▼ $77,057
Accounts Payable and Accrued Expenses$658,477$631,497▼ $26,980
Total Liabilities$18,323,917$17,557,062▼ $766,855
Net Assets / Fund Balance
Unrestricted Net Assets$9,711,669$10,671,134▲ $959,465
Total Net Assets Fund Balance$9,711,669$10,671,134▲ $959,465
Total Liabilities and Net Assets / Fund Balance$28,035,586$28,228,196▲ $192,610

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$2,539,928--
Buildings$21,913,644$3,970,466-
Land$2,278,886--
Equipment$130,461$62,748-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerome D LombardiPresident, CFT$194,400$6,141$200,541
Jerome D LombardiPresident, CEO-$194,400$6,141$200,541
Lynn CampbellVice PresideFT$50,856$3,379$54,235

Board Members and Trustees

NameTitle
William F PhillipsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,318,324
Investment Income
$649,871
Other Revenue
$0
Change in Net Assets
$959,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,968,195
Total Revenue per Audited Statements
$3,968,195
Total Revenue per Form 990
$3,968,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,549,336
Salaries, Compensation, and Employee Benefits$459,394
Total Fundraising Expense$23,269
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$870,660--$870,660
Depreciation Depletion$545,025--$545,025
Current Officers, Directors, Trustees, and Key Employees$122,628$110,365$12,263$245,256
All Other Expenses$225,554$11,320-$236,874
Other Salaries and Wages$81,552$73,398$8,156$163,106
Insurance$88,630$29,544-$118,174
Other Expenses$67,704--$67,704
Fees for Services Legal$8,619$25,858-$34,477
Payroll Taxes$13,989$12,591$1,399$27,979
Other Employee Benefits$11,526$10,374$1,153$23,053
Travel-$20,146-$20,146
Fees for Services Accounting-$15,911-$15,911
Office Expenses$2,981$4,444$298$7,723
Information Technology-$6,788-$6,788
Fees for Services Other$2,400--$2,400
Total Functional Expenses$2,664,722$320,739$23,269$3,008,730

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,008,730
Total Expenses per Audited Statements$3,008,730
Total Expenses per Form 990$3,008,730
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$406,019$406,019→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
N/p - Brackenridge Corp$1,449,636
Prepaid Tenant Rent$60,178
Security Deposits$56,326
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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

“Board members receive a draft copy of the 990 for review and meet with the independent auditor prior to giving final review.”

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

“The board reviews any conflict of interest disclosure filed by officers, directors, trustees or key employees.”

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

“The board reviews comparable market data and form 990 filings by other non-profit organizations in determining the compensation levels of the ceo and other top management officials.”

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

“The board reviews comparable market data and form 990 filings by other non-profit organizations in determining the compensation levels of other officers or key employees.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are available to the public at the company's office during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Spedd Inc
EIN
25-1188760
Phone
7245684188
Address
1129 INDUSTRIAL PARK ROAD STE 119, VANDERGRIFT, PA 15690

Signing Officer

Name
Jerome D Lombardi
Title
President, CEO
Phone
7245684188
Signed
2020-01-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lynn Campbell
Formed
1967
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
1
Employees
6

Preparer

Firm
Estermyer & Associates Pc
Address
246 MOON CLINTON RD STE 200, MOON TWP, PA 15108-2490
Preparer
Lj Estermyer CPA
Phone
4122646305
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To increase employment opportunities and improve deteriorating neighborhoods in western pennsylvania through the rehabilitation of neglected industrial and commercial properties into business incubators and new venture facilities which assist small business in growing and creating jobs.”

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IRS990ScheduleD/EquipmentGrp/BookValueAmt0130461
IRS990ScheduleD/EquipmentGrp/DepreciationAmt062748
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0193209
IRS990ScheduleD/ExpensesSubtotalAmt03008730
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt02539928
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT - ACCROTOOL, INC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt256326
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0N/P - BRACKENRIDGE CORP
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID TENANT RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt03968195
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IRS990ScheduleD/TotalBookValueProgramRltdAmt02539928
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEROME D LOMBARDI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT, CEO
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0WORKING CAPITAL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1WORKING CAPITAL
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1136520
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0LYNN CAMPBELL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1JEROME LOMBARDI
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0VICE PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1PRESIDENT
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/TotalBalanceDueAmt0406019
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO INCREASE EMPLOYMENT OPPORTUNITIES AND IMPROVE DETERIORATING NEIGHBORHOODS IN WESTERN PENNSYLVANIA THROUGH THE REHABILITATION OF NEGLECTED INDUSTRIAL AND COMMERCIAL PROPERTIES INTO BUSINESS INCUBATORS AND NEW VENTURE FACILITIES WHICH ASSIST SMALL BUSINESS IN GROWING AND CREATING JOBS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS RECEIVE A DRAFT COPY OF THE 990 FOR REVIEW AND MEET WITH THE INDEPENDENT AUDITOR PRIOR TO GIVING FINAL REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS ANY CONFLICT OF INTEREST DISCLOSURE FILED BY OFFICERS, DIRECTORS, TRUSTEES OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS COMPARABLE MARKET DATA AND FORM 990 FILINGS BY OTHER NON-PROFIT ORGANIZATIONS IN DETERMINING THE COMPENSATION LEVELS OF THE CEO AND OTHER TOP MANAGEMENT OFFICIALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS COMPARABLE MARKET DATA AND FORM 990 FILINGS BY OTHER NON-PROFIT ORGANIZATIONS IN DETERMINING THE COMPENSATION LEVELS OF OTHER OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE COMPANY'S OFFICE DURING REGULAR BUSINESS HOURS.
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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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt03008730
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IRS990/TotalProgramServiceExpensesAmt02664722
IRS990/TotalProgramServiceRevenueAmt03318324
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt028228196
IRS990/TravelGrp/ManagementAndGeneralAmt020146
IRS990/TravelGrp/TotalAmt020146
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt09711669
IRS990/UnrestrictedNetAssetsGrp/EOYAmt010671134
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt014953406
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01129 INDUSTRIAL PARK RD
IRS990/USAddress/CityNm0VANDERGRIFT
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd015690
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEROME D LOMBARDI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT, CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07245684188
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPEDD INC

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,228,196
Liabilities
$17,557,062
Net assets
$10,671,134
Revenue
$3,968,195
Expenses
$3,008,730
Net income
$959,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$28.8$12.5$16.3$4.41$3.06$1.35
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.6$13.6$15.0$3.99$2.87$1.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.7$14.8$13.9$3.03$2.75$0.28
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.8$14.3$13.6$4.02$2.82$1.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.5$15.1$12.4$4.06$2.84$1.22
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$16.1$11.2$3.39$2.90$0.49
2019Detailed filing. Detailed filing data is available for this year.$28.2$17.6$10.7$3.97$3.01$0.96
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.2$17.6$10.7$3.97$3.01$0.96
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.0$18.3$9.71$3.96$2.95$1.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.6$18.9$8.70$3.19$2.99$0.20
2016Detailed filing. Detailed filing data is available for this year.$27.5$19.0$8.50$3.05$2.97$0.09
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.0$19.6$8.42$3.28$3.08$0.20