Civic Intelligence

Bedford County Development Association

990 • Fiscal year 2023 • EIN 25-1779048

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 17, 2024

1 Corporate DrBedford, PA 15522-7983

(814) 623-4816

Siviq Scores

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

Liabilities / Assets

38th percentile

0.09x

Higher debt load relative to assets than 38% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

51st percentile

0.26x

Higher debt load relative to revenue than 51% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

41st percentile

$156,272

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

88th percentile

39%

Faster asset growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Assets

Up

$11,418,597

Up $3,232,370 (+39%) from 2022

Net Assets

Up

$10,352,581

Up $2,816,992 (+37%) from 2022

Liabilities

Up

$1,066,016

Up $415,378 (+64%) from 2022

Revenue

Up

$4,167,470

Up $4,940,682 (+639%) from 2022

Expenses

Up

$635,738

Up $158,571 (+33%) from 2022

Net Income

Up

$3,531,732

Up $4,782,111 (+382%) from 2022

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $8,954,763Liabilities 2010: $310,260Net Assets 2010: $8,644,5032010Assets 2011: $8,909,131Liabilities 2011: $305,667Net Assets 2011: $8,603,4642011Assets 2012: $9,959,499Liabilities 2012: $359,583Net Assets 2012: $9,599,9162012Assets 2013: $9,712,509Liabilities 2013: $286,443Net Assets 2013: $9,426,0662013Assets 2014: $11,250,751Liabilities 2014: $1,951,853Net Assets 2014: $9,298,8982014Assets 2015: $12,221,106Liabilities 2015: $3,035,484Net Assets 2015: $9,185,6222015Assets 2016: $12,063,241Liabilities 2016: $2,983,534Net Assets 2016: $9,079,7072016Assets 2017: $11,925,146Liabilities 2017: $2,924,719Net Assets 2017: $9,000,4272017Assets 2018: $11,806,782Liabilities 2018: $2,927,891Net Assets 2018: $8,878,8912018Assets 2019: $12,091,240Liabilities 2019: $3,234,021Net Assets 2019: $8,857,2192019Assets 2020: $11,858,262Liabilities 2020: $3,183,294Net Assets 2020: $8,674,9682020Assets 2021: $12,092,964Liabilities 2021: $3,306,997Net Assets 2021: $8,785,9672021Assets 2022: $8,186,227Liabilities 2022: $650,638Net Assets 2022: $7,535,5892022Assets 2023: $11,418,597Liabilities 2023: $1,066,016Net Assets 2023: $10,352,5812023Assets 2024: $16,238,950Liabilities 2024: $4,588,300Net Assets 2024: $11,650,6502024

Highlighted filing

2023

Assets$11,418,597
Liabilities$1,066,016
Net Assets$10,352,581

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $258,0552010Expenses 2011: $368,5302011Expenses 2012: $348,8572012Revenue 2013: $95,201Expenses 2013: $269,051Net Income 2013: -$173,8502013Revenue 2014: $159,233Expenses 2014: $286,403Net Income 2014: -$127,1702014Revenue 2015: $157,520Expenses 2015: $270,795Net Income 2015: -$113,2752015Revenue 2016: $180,384Expenses 2016: $286,375Net Income 2016: -$105,9912016Revenue 2017: $214,812Expenses 2017: $294,090Net Income 2017: -$79,2782017Revenue 2018: $240,881Expenses 2018: $362,417Net Income 2018: -$121,5362018Revenue 2019: $470,721Expenses 2019: $422,536Net Income 2019: $48,1852019Revenue 2020: $266,142Expenses 2020: $448,394Net Income 2020: -$182,2522020Revenue 2021: $559,420Expenses 2021: $448,421Net Income 2021: $110,9992021Revenue 2022: -$773,212Expenses 2022: $477,167Net Income 2022: -$1,250,3792022Revenue 2023: $4,167,470Expenses 2023: $635,738Net Income 2023: $3,531,7322023Revenue 2024: $2,410,604Expenses 2024: $1,112,535Net Income 2024: $1,298,0692024

Highlighted filing

2023

Revenue$4,167,470
Expenses$635,738
Net Income$3,531,732
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 17, 2024
Return Version
2023v5.1
Gross Receipts
$5,800,527
Mission and Program Overview

Mission

Promote and attract businesses to and for Bedford County Pennsylvania

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,128,907$7,313,134▲ $3,184,227
Savings and Temporary Cash Investments-$2,000,000-
Cash and Non-Interest-Bearing Accounts$3,319,870$1,734,883▼ $1,584,987
Pledges and Grants Receivable$22,710$339,166▲ $316,456
Accounts Receivable-$31,414-
Total Assets$7,471,487$11,418,597▲ $3,947,110
Liabilities
Accounts Payable and Accrued Expenses$47,769$552,733▲ $504,964
Mortgage Notes Payable Secured by Investment Property$602,869$513,283▼ $89,586
Total Liabilities$650,638$1,066,016▲ $415,378
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,820,849$10,352,581▲ $3,531,732
Total Net Assets Fund Balance$6,820,849$10,352,581▲ $3,531,732
Total Liabilities and Net Assets / Fund Balance$7,471,487$11,418,597▲ $3,947,110

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,542,885$547,686$7,090,571
Land$620,510-$620,510
Other Land Buildings$149,739$0$149,739
Equipment$0$59,704$59,704
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Betty SlaytonPresidentFT$156,272-$156,272
Betty Slayton--$126,272$30,000$156,272
Revenue and Support

Revenue Composition

Contributions and Grants
$2,324,546
Program Service Revenue
$0
Investment Income
$1,798,813
Other Revenue
$44,111
All Other Contributions
$17,500
Change in Net Assets
$3,531,732

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,324,546
Total Revenue per Audited Statements
$2,324,546
Total Revenue per Form 990
$2,324,546
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$402,875
Other Expenses$232,863
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$132,831$23,441$0$156,272
Other Salaries and Wages$132,761$23,429$0$156,190
All Other Expenses$77,593$1,951$0$79,544
Other Employee Benefits$41,960$7,404$0$49,364
Occupancy$27,070$4,734$0$31,804
Payroll Taxes$20,766$3,665$0$24,431
Fees for Services Legal$14,753$3,956$0$18,709
Pension Plan Contributions$14,126$2,492$0$16,618
Fees for Services Accounting$0$12,642$0$12,642
Office Expenses$6,944$1,225$0$8,169
Insurance$0$6,794$0$6,794
Other Expenses$3,998$705$0$4,703
Travel$3,136$554$0$3,690
Conferences and Meetings$0$2,679$0$2,679
Total Functional Expenses$535,279$100,459$0$635,738

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$635,738
Total Expenses per Audited Statements$635,738
Total Expenses per Form 990$635,738
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Bedford County Development Association
EIN
25-1779048
Phone
8146234816
Address
1 Corporate Dr, Bedford, PA 15522-7983

Signing Officer

Name
Bette Slayton
Title
President
Phone
8146234816
Signed
2024-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bette Slayton
Formed
1990
Legal Domicile
Pa
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
18

Preparer

Firm
Ritchey Ritchey & Koontz
Address
336 E Pitt Street, Bedford, PA 15522
Preparer
Randall H Ritchey
Phone
8146239510
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Presented at an open board meeting.

Form 990, Part IX, Line 24E

Pida committment fee 22550. 22550. 0. 0.

Form 990, Part IX, Line 24E

Site studies 44515. 44515. 0. 0.

Form 990, Part IX, Line 24E

Engineering 7664. 7664. 0. 0.

Form 990, Part IX, Line 24E

Newsletter 2864. 2864. 0. 0.

Form 990, Part IX, Line 24E

Meetings 1951. 0. 1951. 0.

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IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01454463
IRS990/LessRentalExpensesGrp/RealAmt0178594
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Promote and attract businesses to and for Bedford County Pennsylvania
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0602869
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0513283
IRS990/NetAssetsOrFundBalancesBOYAmt06820849
IRS990/NetAssetsOrFundBalancesEOYAmt010352581
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt00
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt01665452
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01665452
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt044111
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt044111
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt06820849
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt010352581
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt04734
IRS990/OccupancyGrp/ProgramServicesAmt027070
IRS990/OccupancyGrp/TotalAmt031804
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01225
IRS990/OfficeExpensesGrp/ProgramServicesAmt06944
IRS990/OfficeExpensesGrp/TotalAmt08169
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07404
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt041960
IRS990/OtherEmployeeBenefitsGrp/TotalAmt049364
IRS990/OtherExpensesGrp/Desc0MINOR EQUIPMENT
IRS990/OtherExpensesGrp/Desc1BUSINESS DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2DUES
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01972
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22816
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3705
IRS990/OtherExpensesGrp/ProgramServicesAmt011174
IRS990/OtherExpensesGrp/ProgramServicesAmt148167
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt33998
IRS990/OtherExpensesGrp/TotalAmt013146
IRS990/OtherExpensesGrp/TotalAmt148167
IRS990/OtherExpensesGrp/TotalAmt22816
IRS990/OtherExpensesGrp/TotalAmt34703
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt023429
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0132761
IRS990/OtherSalariesAndWagesGrp/TotalAmt0156190
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03665
IRS990/PayrollTaxesGrp/ProgramServicesAmt020766
IRS990/PayrollTaxesGrp/TotalAmt024431
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02492
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt014126
IRS990/PensionPlanContributionsGrp/TotalAmt016618
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt022710
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0339166
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0BETTE SLAYTON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0582129
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-2176327
IRS990/PYOtherExpensesAmt092472
IRS990/PYOtherRevenueAmt088247
IRS990/PYProgramServiceRevenueAmt017999
IRS990/PYRevenuesLessExpensesAmt0-1965119
IRS990/PYSalariesCompEmpBnftPaidAmt0384695
IRS990/PYTotalExpensesAmt0477167
IRS990/PYTotalRevenueAmt0-1487952
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt03531732
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt044111
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02324526
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02000000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02307046
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0582128
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0391751
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0280301
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0379461
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03940687
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0356066
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0365324
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0347762
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0333172
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0293701
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01696025
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.69910
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.53700
IRS990ScheduleA/PublicSupportTotal170Amt03940687
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02307046
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0582128
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0391751
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0280301
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0379461
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03940687
IRS990ScheduleA/TotalSupportAmt05636712
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06542885
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0547686
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07090571
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt059704
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt059704
IRS990ScheduleD/ExpensesSubtotalAmt0635738
IRS990ScheduleD/LandGrp/BookValueAmt0620510
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0620510
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0149739
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0149739
IRS990ScheduleD/RevenueSubtotalAmt02324546

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.2$4.59$11.7$2.41$1.11$1.30
2023Detailed filing. Detailed filing data is available for this year.$11.4$1.07$10.4$4.17$0.64$3.53
2022Detailed filing. Detailed filing data is available for this year.$8.19$0.65$7.54$0.77$0.48$1.25
2021Detailed filing. Detailed filing data is available for this year.$12.1$3.31$8.79$0.56$0.45$0.11
2020Detailed filing. Detailed filing data is available for this year.$11.9$3.18$8.67$0.27$0.45$0.18
2019Detailed filing. Detailed filing data is available for this year.$12.1$3.23$8.86$0.47$0.42$0.05
2018Detailed filing. Detailed filing data is available for this year.$11.8$2.93$8.88$0.24$0.36$0.12
2017Detailed filing. Detailed filing data is available for this year.$11.9$2.92$9.00$0.21$0.29$0.08
2016Detailed filing. Detailed filing data is available for this year.$12.1$2.98$9.08$0.18$0.29$0.11
2015Detailed filing. Detailed filing data is available for this year.$12.2$3.04$9.19$0.16$0.27$0.11
2014Detailed filing. Detailed filing data is available for this year.$11.3$1.95$9.30$0.16$0.29$0.13
2013Detailed filing. Detailed filing data is available for this year.$9.71$0.29$9.43$0.10$0.27$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.96$0.36$9.60$0.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.91$0.31$8.60$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.95$0.31$8.64$0.26