Civic Intelligence

Girard Area Industrial Development Corp

EIN 25-1227432 • 501(c)3 • Girard, PA

Profile

Gaidc's function is to encourage business development and job opportunities for the unemployed by providing small businesses with low cost space.

227 Hathaway Street EastGirard, PA 16417

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.03x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.08x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

24th percentile

-9.5%

Higher net margin than 24% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$73,442

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 22.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

28th percentile

-5.3%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

32nd percentile

-4.4%

Faster revenue growth than 32% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$821,861

Down $46,001 (-5.3%) from 2023

Liabilities

Down

$25,564

Down $14,469 (-36%) from 2023

Net Assets

Down

$796,297

Down $31,532 (-3.8%) from 2023

Revenue

Down

$333,361

Down $15,495 (-4.4%) from 2023

Expenses

Down

$364,893

Down $41,445 (-10%) from 2023

Net Income

Up

-$31,532

Up $25,950 (+45%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2010: $1,295,439Liabilities 2010: $23,849Net Assets 2010: $1,271,5902010Assets 2011: $1,130,490Liabilities 2011: $22,676Net Assets 2011: $1,107,8142011Assets 2012: $953,942Liabilities 2012: $20,954Net Assets 2012: $932,9882012Assets 2013: $828,203Liabilities 2013: $55,263Net Assets 2013: $772,9402013Assets 2014: $664,171Liabilities 2014: $31,331Net Assets 2014: $632,8402014Assets 2015: $554,571Liabilities 2015: $32,386Net Assets 2015: $522,1852015Assets 2016: $667,197Liabilities 2016: $46,647Net Assets 2016: $620,5502016Assets 2017: $1,056,053Liabilities 2017: $32,235Net Assets 2017: $1,023,8182017Assets 2018: $924,321Liabilities 2018: $22,334Net Assets 2018: $901,9872018Assets 2020: $914,278Liabilities 2020: $25,374Net Assets 2020: $888,9042020Assets 2021: $858,410Liabilities 2021: $29,328Net Assets 2021: $829,0822021Assets 2022: $918,166Liabilities 2022: $32,855Net Assets 2022: $885,3112022Assets 2023: $867,862Liabilities 2023: $40,033Net Assets 2023: $827,8292023Assets 2024: $821,861Liabilities 2024: $25,564Net Assets 2024: $796,2972024

Highlighted filing

2024

Assets$821,861
Liabilities$25,564
Net Assets$796,297

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $484,7342010Expenses 2011: $497,7462011Expenses 2012: $474,8202012Revenue 2013: $343,947Expenses 2013: $503,995Net Income 2013: -$160,0482013Revenue 2014: $366,849Expenses 2014: $506,949Net Income 2014: -$140,1002014Revenue 2015: $328,569Expenses 2015: $439,224Net Income 2015: -$110,6552015Revenue 2016: $532,166Expenses 2016: $433,801Net Income 2016: $98,3652016Revenue 2017: $875,600Expenses 2017: $472,332Net Income 2017: $403,2682017Revenue 2018: $307,372Expenses 2018: $429,203Net Income 2018: -$121,8312018Revenue 2020: $321,610Expenses 2020: $342,213Net Income 2020: -$20,6032020Revenue 2021: $304,608Expenses 2021: $364,430Net Income 2021: -$59,8222021Revenue 2022: $426,161Expenses 2022: $369,932Net Income 2022: $56,2292022Revenue 2023: $348,856Expenses 2023: $406,338Net Income 2023: -$57,4822023Revenue 2024: $333,361Expenses 2024: $364,893Net Income 2024: -$31,5322024

Highlighted filing

2024

Revenue$333,361
Expenses$364,893
Net Income-$31,532

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.82$0.03$0.80$0.33$0.36$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.87$0.04$0.83$0.35$0.41$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.92$0.03$0.89$0.43$0.37$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.86$0.03$0.83$0.30$0.36$0.06
2020Detailed filing. Detailed filing data is available for this year.$0.91$0.03$0.89$0.32$0.34$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.92$0.02$0.90$0.31$0.43$0.12
2017Detailed filing. Detailed filing data is available for this year.$1.06$0.03$1.02$0.88$0.47$0.40
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.05$0.62$0.53$0.43$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.55$0.03$0.52$0.33$0.44$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.66$0.03$0.63$0.37$0.51$0.14
2013Detailed filing. Detailed filing data is available for this year.$0.83$0.06$0.77$0.34$0.50$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.02$0.93$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.02$1.11$0.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.02$1.27$0.48
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 22, 2025
Return Version
2024v5.1
Gross Receipts
$333,361
Mission and Program Overview

Mission

Gaidcs function is to encourage business development and job opportunities for the unemployed by providing small businesses with low cost space.

Encourage business development and jobs for the unemployed by providing low cost industrial space.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$529,909$501,270▼ $28,639
Cash and Non-Interest-Bearing Accounts$191,334$158,481▼ $32,853
Accounts Receivable$64,520$94,107▲ $29,587
Savings and Temporary Cash Investments$78,458$64,428▼ $14,030
Prepaid Expenses and Deferred Charges$3,641$3,575▼ $66
Total Assets$867,862$821,861▼ $46,001
Liabilities
Accounts Payable and Accrued Expenses$40,033$25,564▼ $14,469
Total Liabilities$40,033$25,564▼ $14,469
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$827,829$796,297▼ $31,532
Total Net Assets Fund Balance$827,829$796,297▼ $31,532
Total Liabilities and Net Assets / Fund Balance$867,862$821,861▼ $46,001

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$304,943$2,302,650$2,607,593
Land$187,806-$187,806
Equipment$8,521$92,925$101,446
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Damon P HomichChairmanFT$60,070$13,372$73,442

Board Members and Trustees

NameTitle
Douglas B Nagle IiiSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$24,212
Program Service Revenue
$309,143
Investment Income
$6
Other Revenue
$0
Change in Net Assets
$-31,532
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$185,865
Other Expenses$179,028
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$117,722$5,963-$123,685
Other Salaries and Wages$50,513$25,476-$75,989
Current Officers, Directors, Trustees, and Key Employees$22,033$51,409-$73,442
Depreciation Depletion$28,639--$28,639
Other Employee Benefits-$25,261-$25,261
Payroll Taxes$6,007$5,166-$11,173
Office Expenses-$6,381-$6,381
Fees for Services Accounting-$5,057-$5,057
Other Expenses$2,116$2,116-$4,232
Information Technology-$2,992-$2,992
Insurance$2,111$235-$2,346
Travel$409$136-$545
Total Functional Expenses$229,550$135,343$0$364,893
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Chairman of Gaidc Is the Vice President of Northwest Pa IncubatorOperating GrantNo$24,212
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
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, Part VI, Section B, Line 11B

The chairman reviews form 990 before it is filed.

Form 990, Part VI, Section B, Line 15A

The board of directors approve all pay increases on an annual basis.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Girard Area Industrial Development Corp
EIN
25-1227432
Phone
8147749339
Address
227 HATHAWAY STREET EAST, GIRARD, PA 16417

Signing Officer

Name
Damon P Homich
Title
Chairman
Phone
8147749339
Signed
2025-05-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Damon P Homich
Formed
1961
Legal Domicile
Pa
Voting Board Members
2
Independent Board Members
1
Employees
7
Volunteers
2

Preparer

Firm
Mcgill Power Bell & Assoc Llp
Address
2402 W 8TH STREET, ERIE, PA 16505
Preparer
Vincent Halupczynski
Phone
8144536594
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, QUESTION 2C:

The chairman handles the day-to-day administration of the organization, including the year-end compilation, upon the direction of the board of directors. There have been no changes to this process from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from income taxes under section 501(c) of the internal revenue code and a similar provision of state law. However, the organization is subject to federal income tax on any unrelated business taxable income. The organization files tax returns in the u.s. Federal jurisdiction.

Raw XML Appendix365 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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0426149
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0304569
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0320542
IRS990ScheduleA/Total509Grp/TotalAmt01733465
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0333361
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0348856
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0426161
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0304608
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0321610
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01734596
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0304943
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02302650
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02607593
IRS990ScheduleD/EquipmentGrp/BookValueAmt08521
IRS990ScheduleD/EquipmentGrp/DepreciationAmt092925
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0101446
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0187806
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0187806
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE ORGANIZATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0501270
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0NORTHWEST PENNSYLVANIA INCUBATOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0CHAIRMAN OF GAIDC IS THE VICE PRESIDENT OF NORTHWEST PA INCUBATOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt024212
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0OPERATING GRANT
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHAIRMAN REVIEWS FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS APPROVE ALL PAY INCREASES ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CHAIRMAN HANDLES THE DAY-TO-DAY ADMINISTRATION OF THE ORGANIZATION, INCLUDING THE YEAR-END COMPILATION, UPON THE DIRECTION OF THE BOARD OF DIRECTORS. THERE HAVE BEEN NO CHANGES TO THIS PROCESS FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, QUESTION 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0867862
IRS990/TotalAssetsEOYAmt0821861
IRS990/TotalAssetsGrp/BOYAmt0867862
IRS990/TotalAssetsGrp/EOYAmt0821861
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt024212
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0135343
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0229550
IRS990/TotalFunctionalExpensesGrp/TotalAmt0364893
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt040033
IRS990/TotalLiabilitiesEOYAmt025564
IRS990/TotalLiabilitiesGrp/BOYAmt040033
IRS990/TotalLiabilitiesGrp/EOYAmt025564
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0827829
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0796297
IRS990/TotalOtherCompensationAmt013372
IRS990/TotalProgramServiceExpensesAmt0229550
IRS990/TotalProgramServiceRevenueAmt0309143
IRS990/TotalReportableCompFromOrgAmt060070
IRS990/TotalRevenueGrp/ExclusionAmt06
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0309143
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0333361
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0867862
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0821861
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0136
IRS990/TravelGrp/ProgramServicesAmt0409
IRS990/TravelGrp/TotalAmt0545
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0227 HATHAWAY STREET EAST
IRS990/USAddress/CityNm0GIRARD
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd016417
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAMON P HOMICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08147749339
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GIRARD AREA INDUSTRIAL DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0GIRA
ReturnHeader/Filer/EIN0251227432
ReturnHeader/Filer/PhoneNum08147749339
ReturnHeader/Filer/USAddress/AddressLine1Txt0227 HATHAWAY STREET EAST
ReturnHeader/Filer/USAddress/CityNm0GIRARD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016417
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251031405
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCGILL POWER BELL & ASSOC LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02402 W 8TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ERIE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd016505
ReturnHeader/PreparerPersonGrp/PhoneNum08144536594
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0VINCENT HALUPCZYNSKI
ReturnHeader/ReturnTs02025-06-02T13:15:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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