Civic Intelligence

Armstrong County Industrial Development Council

990 • Fiscal year 2023 • EIN 25-1452351

Jul 01, 2022 to Jun 30, 2023 • Filed on Jul 25, 2024

Organization ProfileWWW.ARMSTRONGIDC.ORG
402 Market StreetKittanning, PA 16201

(724) 548-1500

Siviq Scores

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

Liabilities / Assets

67th percentile

0.20x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

74th percentile

0.33x

Higher debt load relative to revenue than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

97th percentile

81%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$1

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

2nd percentile

-45%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

96th percentile

218%

Faster revenue growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$3,953,416

Down $3,221,567 (-45%) from 2022

Net Assets

Down

$3,182,243

Down $1,818,244 (-36%) from 2022

Liabilities

Down

$771,173

Down $1,403,323 (-65%) from 2022

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin97th percentile

Revenue

Up

$2,336,199

Up $1,601,432 (+218%) from 2022

Expenses

Down

$436,152

Down $291,457 (-40%) from 2022

Net Income

Up

$1,900,047

Up $1,892,889 (+26444%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$10M$5.0M$0Assets 2012: $5,019,099Liabilities 2012: $497,082Net Assets 2012: $4,522,0172012Assets 2013: $4,609,955Liabilities 2013: $117,620Net Assets 2013: $4,492,3352013Assets 2014: $3,741,993Liabilities 2014: $226,344Net Assets 2014: $3,515,6492014Assets 2015: $4,976,328Liabilities 2015: $2,559,305Net Assets 2015: $2,417,0232015Assets 2016: $7,814,410Liabilities 2016: $2,289,742Net Assets 2016: $5,524,6682016Assets 2017: $7,795,017Liabilities 2017: $2,302,779Net Assets 2017: $5,492,2382017Assets 2018: $9,298,829Liabilities 2018: $3,774,555Net Assets 2018: $5,524,2742018Assets 2019: $8,172,701Liabilities 2019: $2,769,391Net Assets 2019: $5,403,3102019Assets 2020: $8,137,886Liabilities 2020: $2,699,318Net Assets 2020: $5,438,5682020Assets 2021: $7,451,819Liabilities 2021: $2,510,600Net Assets 2021: $4,941,2192021Assets 2022: $7,174,983Liabilities 2022: $2,174,496Net Assets 2022: $5,000,4872022Assets 2023: $3,953,416Liabilities 2023: $771,173Net Assets 2023: $3,182,2432023Assets 2024: $5,198,031Liabilities 2024: $724,886Net Assets 2024: $4,473,1452024Assets 2025: $4,736,598Liabilities 2025: $714,389Net Assets 2025: $4,022,2092025

Highlighted filing

2023

Assets$3,953,416
Liabilities$771,173
Net Assets$3,182,243
Open 2023 Filing

Operations Trend

Revenue Growth96th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2012: $337,3392012Expenses 2013: $392,7802013Revenue 2014: $946,934Expenses 2014: $1,923,620Net Income 2014: -$976,6862014Revenue 2015: $1,562,131Expenses 2015: $2,660,757Net Income 2015: -$1,098,6262015Revenue 2016: $2,550,775Expenses 2016: $388,454Net Income 2016: $2,162,3212016Revenue 2017: $328,700Expenses 2017: $361,130Net Income 2017: -$32,4302017Revenue 2018: $2,156,220Expenses 2018: $2,124,184Net Income 2018: $32,0362018Revenue 2019: $561,240Expenses 2019: $682,204Net Income 2019: -$120,9642019Revenue 2020: $685,377Expenses 2020: $650,119Net Income 2020: $35,2582020Revenue 2021: $384,736Expenses 2021: $882,085Net Income 2021: -$497,3492021Revenue 2022: $734,767Expenses 2022: $727,609Net Income 2022: $7,1582022Revenue 2023: $2,336,199Expenses 2023: $436,152Net Income 2023: $1,900,0472023Revenue 2024: $1,898,709Expenses 2024: $607,806Net Income 2024: $1,290,9032024Revenue 2025: $686,335Expenses 2025: $1,127,835Net Income 2025: -$441,5002025

Highlighted filing

2023

Revenue$2,336,199
Expenses$436,152
Net Income$1,900,047
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jul 25, 2024
Return Version
2022v5.0
Gross Receipts
$2,336,199
Mission and Program Overview

Mission

To promote economic development and assist emerging or expanding businesses within armstrong county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,906,121$2,407,092▼ $3,499,029
Other Notes and Loans Receivable, Net$242,500$700,582▲ $458,082
Savings and Temporary Cash Investments$676,019$664,922▼ $11,097
Intangible Assets$170,000--
Cash and Non-Interest-Bearing Accounts$19,173$89,031▲ $69,858
Pledges and Grants Receivable-$59,659-
Accounts Receivable$210,039$23,686▼ $186,353
Prepaid Expenses and Deferred Charges$7,554$8,444▲ $890
Total Assets$7,231,406$3,953,416▼ $3,277,990
Liabilities
Unsecured Notes Loans Payable$1,787,123$747,962▼ $1,039,161
Grants Payable$352,374--
Accounts Payable and Accrued Expenses$34,999$23,211▼ $11,788
Total Liabilities$2,174,496$771,173▼ $1,403,323
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,056,910$3,182,243▼ $1,874,667
Total Net Assets Fund Balance$5,056,910$3,182,243▼ $1,874,667
Total Liabilities and Net Assets / Fund Balance$7,231,406$3,953,416▼ $3,277,990

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,516,561-$2,516,561
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael BakerExecutive DiFT$1$1
Revenue and Support

Revenue Composition

Contributions and Grants
$350,000
Program Service Revenue
$1,966,348
Investment Income
$2,801
Other Revenue
$17,050
Change in Net Assets
$1,900,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$325,782
Salaries, Compensation, and Employee Benefits$110,370
Total Fundraising Expense$14,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$80,000--$80,000
Fees for Services Management$47,999--$47,999
Interest$34,157--$34,157
Other Employee Benefits$30,370--$30,370
Fees for Services Legal$26,245--$26,245
Insurance$13,048--$13,048
Other Expenses$11,804-$14,070$11,804
All Other Expenses$11,594--$11,594
Advertising$5,035--$5,035
Conferences and Meetings$3,820--$3,820
Fees for Services Accounting$3,360--$3,360
Depreciation Depletion$2,814--$2,814
Travel$1,887--$1,887
Office Expenses$526--$526
Total Functional Expenses$422,082$0$14,070$436,152
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,050
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$17,050$17,050-$17,050
Total Events$17,050$17,050-$17,050
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
Audit committee
Yes
Backup withholding compliance
No
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
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Armstrong County Industrial
EIN
25-1452351
Phone
7245481500
Address
402 MARKET STREET, KITTANNING, PA 16201

Signing Officer

Name
Michael Baker
Title
Executive Director
Phone
7245481500
Signed
2024-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Darin D Alviano
Formed
1968
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Marsico Financial Group LLC
Address
1018 PITTSBURGH RD, VALENCIA, PA 16059
Preparer
Roslyn Boulos
Phone
7248983555
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“All voting members of the council are volunteers”

Form 990, Page 2, Part III, Line 4D

“Properties are purchased, cleaned up, and sold to local buyers”

Raw XML Appendix300 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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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07245481500
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARMSTRONG COUNTY INDUSTRIAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT COUNCIL
ReturnHeader/Filer/BusinessNameControlTxt0ARMS
ReturnHeader/Filer/EIN0251452351
ReturnHeader/Filer/PhoneNum07245481500
ReturnHeader/Filer/USAddress/AddressLine1Txt0402 MARKET STREET
ReturnHeader/Filer/USAddress/CityNm0KITTANNING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd016201
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475618259
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARSICO FINANCIAL GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01018 PITTSBURGH RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0VALENCIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd016059
ReturnHeader/PreparerPersonGrp/PhoneNum07248983555
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROSLYN BOULOS
ReturnHeader/ReturnTs02024-07-25T16:12:17-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BAKER
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,953,416
Liabilities
$771,173
Net assets
$3,182,243
Revenue
$2,336,199
Expenses
$436,152
Net income
$1,900,047
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.74$0.71$4.02$0.69$1.13$0.44
2024Detailed filing. Detailed filing data is available for this year.$5.20$0.72$4.47$1.90$0.61$1.29
2023Detailed filing. Detailed filing data is available for this year.$3.95$0.77$3.18$2.34$0.44$1.90
2022Detailed filing. Detailed filing data is available for this year.$7.17$2.17$5.00$0.73$0.73$0.01
2021Detailed filing. Detailed filing data is available for this year.$7.45$2.51$4.94$0.38$0.88$0.50
2020Detailed filing. Detailed filing data is available for this year.$8.14$2.70$5.44$0.69$0.65$0.04
2019Detailed filing. Detailed filing data is available for this year.$8.17$2.77$5.40$0.56$0.68$0.12
2018Detailed filing. Detailed filing data is available for this year.$9.30$3.77$5.52$2.16$2.12$0.03
2017Detailed filing. Detailed filing data is available for this year.$7.80$2.30$5.49$0.33$0.36$0.03
2016Detailed filing. Detailed filing data is available for this year.$7.81$2.29$5.52$2.55$0.39$2.16
2015Detailed filing. Detailed filing data is available for this year.$4.98$2.56$2.42$1.56$2.66$1.10
2014Detailed filing. Detailed filing data is available for this year.$3.74$0.23$3.52$0.95$1.92$0.98
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.61$0.12$4.49$0.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.02$0.50$4.52$0.34