Civic Intelligence

Laurel Hill Development Corporation

EIN 25-1789822 • 501(c)3 • Lemont Furnace, PA

Profile

Laurel hill development corporation was formed to advance, promote and support the charitable purposes of fay-penn economic development council(fay-penn edc), an exempt organization described in sections 501(c)(3) and 509(a)(1) of the internal revenue code, by promoting industrial development in fayette county, pennsylvania, and southwestern pennsylvania and holding cash and investment income to support the mission of fay-penn edc.

1040 Eberly Way No 200Lemont Furnace, PA 15456

n/A

Siviq Scores

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

Liabilities / Assets

39th percentile

0.10x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

74th percentile

0.68x

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

501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

5th percentile

-59%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-10%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets39th percentile

Assets

Down

$11,056,219

Down $1,369,656 (-11%) from 2013

Liabilities

Down

$792

Down $1,199,208 (-100%) from 2013

Net Assets

Down

$11,055,427

Down $170,448 (-1.5%) from 2013

Operations
Liabilities / Revenue74th percentileNet Margin5th percentile

Revenue

Down

$58,041

Down $1,707,692 (-97%) from 2013

Expenses

Down

$228,489

Down $2,584,295 (-92%) from 2013

Net Income

Up

-$170,448

Up $876,603 (+84%) from 2013

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

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

$15M$10M$5.0M$0Assets 2010: $4,798,791Liabilities 2010: $318,814Net Assets 2010: $4,479,9772010Assets 2012: $13,850,598Liabilities 2012: $1,577,672Net Assets 2012: $12,272,9262012Assets 2013: $12,425,875Liabilities 2013: $1,200,000Net Assets 2013: $11,225,8752013Assets 2014: $11,056,219Liabilities 2014: $792Net Assets 2014: $11,055,4272014

Highlighted filing

2014

Assets$11,056,219
Liabilities$792
Net Assets$11,055,427
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $346,3292010Expenses 2012: $4,402,6592012Revenue 2013: $1,765,733Expenses 2013: $2,812,784Net Income 2013: -$1,047,0512013Revenue 2014: $58,041Expenses 2014: $228,489Net Income 2014: -$170,4482014

Highlighted filing

2014

Revenue$58,041
Expenses$228,489
Net Income-$170,448
Open 2014 Filing

Filings

Most recent year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,056,219
Liabilities
$792
Net assets
$11,055,427
Revenue
$58,041
Expenses
$228,489
Net income
-$170,448
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$11.1$0.00$11.1$0.06$0.23$0.17
2013Detailed filing. Detailed filing data is available for this year.$12.4$1.20$11.2$1.77$2.81$1.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.9$1.58$12.3$4.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.80$0.32$4.48$0.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 7, 2015
Return Version
2014v5.0
Gross Receipts
$58,041
Mission and Program Overview

Mission

Laurel hill development corporation was formed to advance, promote and support the charitable purposes of fay-penn economic development council(fay-penn edc), an exempt organization described in sections 501(c)(3) and 509(a)(1) of the internal revenue code, by promoting industrial development in fayette county, pennsylvania, and southwestern pennsylvania and holding cash and investment income to support the mission of fay-penn edc.

Laurel hill development corporation was formed to advance, promote and support the charitable purposes of fay-penn economic development council(fay-penn edc), an exempt organization described in sections 501(c)(3) and 509(a)(1) of the internal revenue code, by promoting industrial development in fayette county, pennsylvania, and southwestern pennsylvania and by holding cash and investment income to support the mission of fay-penn edc. The organization initially maintained and operated 26 miles of a rail line located in fayette county, pa necessary for fpedc to promote the industrial development of the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,110,775$4,805,238▼ $305,537
Other Notes and Loans Receivable, Net$3,982,382$4,428,878▲ $446,496
Accounts Receivable$2,600,000$1,100,000▼ $1,500,000
Land, Buildings, and Equipment, Net$447,930$502,131▲ $54,201
Cash and Non-Interest-Bearing Accounts$284,788$219,972▼ $64,816
Total Assets$12,425,875$11,056,219▼ $1,369,656
Liabilities
Accounts Payable and Accrued Expenses$1,200,000$792▼ $1,199,208
Total Liabilities$1,200,000$792▼ $1,199,208
Net Assets / Fund Balance
Unrestricted Net Assets$11,225,875$11,055,427▼ $170,448
Total Net Assets Fund Balance$11,225,875$11,055,427▼ $170,448
Total Liabilities and Net Assets / Fund Balance$12,425,875$11,056,219▼ $1,369,656

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$459,397$8,651-
Land$42,734--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeOtherTotal
Robert SharkCurrent - Vice PresidentPT$45,866$45,866
Michael Jordan JrPast - Vice PresidentPT$28,865$28,865

Board Members and Trustees

NameTitle
Stephen NeubauerPresident
Rusty SmalleyDirector
George RattayAssistant Secretary
James FoutzSecretary
William B BlaneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$25,000
Program Service Revenue
$5,650
Investment Income
$27,391
Other Revenue
$0
All Other Contributions
$25,000
Change in Net Assets
$-170,448

Audited Revenue Reconciliation

Revenue per Audited Statements
$58,041
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$58,041
Total Revenue per Form 990
$58,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$180,650
Other Expenses$47,839
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$180,650--$180,650
Insurance$14,806--$14,806
Other Expenses$6,797--$6,797
Fees for Services Accounting-$4,000-$4,000
Fees for Services Legal-$792-$792
Office Expenses-$259-$259
Total Functional Expenses$223,438$5,051$0$228,489

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$228,489
Total Expenses per Audited Statements$228,489
Total Expenses per Form 990$228,489
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fay-penn Economic Development CouncilLemont Furnance, PA501(c)(3)Debt Reduction Initiative$155,650
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
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The only member of the laurel hill development corporation is the fay-penn economic development council (fay-penn edc), which has the sole right to vote on each matter to be decided by the membership. The business and affairs of the corporation are managed by its board of directors.”

Form 990, Part VI, Section A, Line 7A

“The board of directors consists of not less than three or more than ten members, as determined from time to time by the sole member (fay-penn economic development council). The sole member has the exclusive power to 1) elect the directors of the corporation; 2) remove any directors at any time; 3) approve or disapprove all amendments to the articles of incorporation and the bylaws of the corporation; and 4) approve or disapprove the annual capital and operating budgets of the corporation.”

Form 990, Part VI, Section A, Line 7B

“The board of directors of laurel hill development corporation (lhd) currently consists of (6) board members, all of whom are also board members of the fay-penn economic developement council (fay-penn edc), the sole member. Fay-penn edc has approximately (54) additional board members. Decisions of the governing body are subject to approval by the sole member. Laurel hill development corporation adheres to fay-penn edc's policies.”

Form 990, Part VI, Section A, Line 8B

“There are no committees at this time.”

Form 990, Part VI, Section B, Line 11

“The governing body of the organization reviews the entire form 990 to determine that all of the information being reported on the return is complete and accurate. The return is filed after obtaining board approval.”

Form 990, Part VI, Section C, Line 19

“It makes it available through public record upon request.”

Filing and Contact Details

Filer

Filer Name
Laurel Hill Development Corporation
EIN
25-1789822
Phone
7244377913
Address
1040 EBERLY WAY NO 200, LEMONT FURNACE, PA 15456

Signing Officer

Name
William B Blaney
Title
Vice President
Phone
7244377913
Signed
2015-07-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Shark
Formed
1995
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Horovitz Rudoy & Roteman LLC
Address
436 SEVENTH AVE SIXTH FLOOR, PITTSBURGH, PA 15219-1853
Preparer
Thomas J Ryan
Phone
4123912920
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“Laurel hill development corporation (lhd) has no audit committee, but due to common management of laurel hill development corporation and fay-penn edc, the edc takes responsibility for oversight of the audit.”

Raw XML AppendixShowing 400 of 432 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01200000
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0792
IRS990/AccountsReceivableGrp/BOYAmt02600000
IRS990/AccountsReceivableGrp/EOYAmt01100000
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0LAUREL HILL DEVELOPMENT CORPORATION WAS FORMED TO ADVANCE, PROMOTE AND SUPPORT THE CHARITABLE PURPOSES OF FAY-PENN ECONOMIC DEVELOPMENT COUNCIL(FAY-PENN EDC), AN EXEMPT ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE INTERNAL REVENUE CODE, BY PROMOTING INDUSTRIAL DEVELOPMENT IN FAYETTE COUNTY, PENNSYLVANIA, AND SOUTHWESTERN PENNSYLVANIA AND BY HOLDING CASH AND INVESTMENT INCOME TO SUPPORT THE MISSION OF FAY-PENN EDC. THE ORGANIZATION INITIALLY MAINTAINED AND OPERATED 26 MILES OF A RAIL LINE LOCATED IN FAYETTE COUNTY, PA NECESSARY FOR FPEDC TO PROMOTE THE INDUSTRIAL DEVELOPMENT OF THE AREA.
IRS990/AllOtherContributionsAmt025000
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0LINDA YUHANIAK
IRS990/BooksInCareOfDetail/PhoneNum07244377913
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01040 EBERLY WAY SUITE 200
IRS990/BooksInCareOfDetail/USAddress/CityNm0LEMONT FURNACE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0PA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd015456
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0284788
IRS990/CashNonInterestBearingGrp/EOYAmt0219972
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt025000
IRS990/CYGrantsAndSimilarPaidAmt0180650
IRS990/CYInvestmentIncomeAmt027391
IRS990/CYOtherExpensesAmt047839
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt05650
IRS990/CYRevenuesLessExpensesAmt0-170448
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0228489
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt058041
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0LAUREL HILL DEVELOPMENT CORPORATION (FORMERLY FAY-PENN INDUSTRIAL DEVELOPMENT CORPORATION) SOLD THE RAIL LINE IN FAYETTE COUNTY TO THE SHORTLINE OPERATOR, SOUTHWEST PENNSYLVANIA RAILROAD. ALTHOUGH NO LONGER THE RAIL OWNER, LAUREL HILL DEVELOPMENT CONTINUED ITS SUPPORT OF RAIL SERVICE BY APPLYING FOR AND/OR ADMINISTERING GRANTS TO SUPPORT VARIOUS RAIL IMPROVEMENTS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0223438
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt04000
IRS990/FeesForServicesAccountingGrp/TotalAmt04000
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0792
IRS990/FeesForServicesLegalGrp/TotalAmt0792
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form1098CFiledInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form8899Filedind00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt55.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt65.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt53395
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt61758
IRS990/Form990PartVIISectionAGrp/PersonNm0JAMES FOUTZ
IRS990/Form990PartVIISectionAGrp/PersonNm1STEPHEN NEUBAUER
IRS990/Form990PartVIISectionAGrp/PersonNm2WILLIAM B BLANEY
IRS990/Form990PartVIISectionAGrp/PersonNm3RUSTY SMALLEY
IRS990/Form990PartVIISectionAGrp/PersonNm4GEORGE RATTAY
IRS990/Form990PartVIISectionAGrp/PersonNm5ROBERT SHARK
IRS990/Form990PartVIISectionAGrp/PersonNm6MICHAEL JORDAN JR
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt542471
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt627107
IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5CURRENT - VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6PAST - VICE PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01995
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantAmt0180650
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0180650
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0180650
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt058041
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt014806
IRS990/InsuranceGrp/TotalAmt014806
IRS990/InvestmentIncomeGrp/ExclusionAmt027391
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt027391
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt08651
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0447930
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0502131
IRS990/LandBldgEquipCostOrOtherBssAmt0510782
IRS990/LegalDomicileStateCd0PA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0LAUREL HILL DEVELOPMENT CORPORATION WAS FORMED TO ADVANCE, PROMOTE AND SUPPORT THE CHARITABLE PURPOSES OF FAY-PENN ECONOMIC DEVELOPMENT COUNCIL(FAY-PENN EDC), AN EXEMPT ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE INTERNAL REVENUE CODE, BY PROMOTING INDUSTRIAL DEVELOPMENT IN FAYETTE COUNTY, PENNSYLVANIA, AND SOUTHWESTERN PENNSYLVANIA AND HOLDING CASH AND INVESTMENT INCOME TO SUPPORT THE MISSION OF FAY-PENN EDC.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt011225875
IRS990/NetAssetsOrFundBalancesEOYAmt011055427
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0259
IRS990/OfficeExpensesGrp/TotalAmt0259
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/ProgramServicesAmt013501
IRS990/OtherExpensesGrp/ProgramServicesAmt17684
IRS990/OtherExpensesGrp/ProgramServicesAmt26797
IRS990/OtherExpensesGrp/TotalAmt013501
IRS990/OtherExpensesGrp/TotalAmt17684
IRS990/OtherExpensesGrp/TotalAmt26797
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03982382
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt04428878
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ROBERT SHARK
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0ADMINISTRATIVE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05650
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05650
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01733752
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01035297
IRS990/PYInvestmentIncomeAmt027956
IRS990/PYOtherExpensesAmt01777487
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04025
IRS990/PYRevenuesLessExpensesAmt0-1047051
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02812784
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01765733
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-170448
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05650
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05110775
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04805238
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0251649514
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc0501(C)3
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0155650
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0FAY-PENN ECONOMIC DEVELOPMENT COUNCIL
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0155650
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/BookValueAmt0459397
IRS990ScheduleD/BuildingsGrp/DepreciationAmt08651
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0468048
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0228489
IRS990ScheduleD/LandGrp/BookValueAmt042734
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt042734
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt058041
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0502131
IRS990ScheduleD/TotalExpensesPerForm990Amt0228489
IRS990ScheduleD/TotalRevenuePerForm990Amt058041
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt058041
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0228489
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0155650
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0DEBT REDUCTION INITIATIVE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FAY-PENN ECONOMIC DEVELOPMENT COUNCIL
IRS990ScheduleI/RecipientTable/RecipientEIN0251649514
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01040 EBERLY WAY SUITE 200
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LEMONT FURNANCE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd015456
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ASSISTANCE IS MONITORED THROUGH PROVISIONS IN AUDITED FINANCIAL STATEMENTS
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 2;
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ONLY MEMBER OF THE LAUREL HILL DEVELOPMENT CORPORATION IS THE FAY-PENN ECONOMIC DEVELOPMENT COUNCIL (FAY-PENN EDC), WHICH HAS THE SOLE RIGHT TO VOTE ON EACH MATTER TO BE DECIDED BY THE MEMBERSHIP. THE BUSINESS AND AFFAIRS OF THE CORPORATION ARE MANAGED BY ITS BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS CONSISTS OF NOT LESS THAN THREE OR MORE THAN TEN MEMBERS, AS DETERMINED FROM TIME TO TIME BY THE SOLE MEMBER (FAY-PENN ECONOMIC DEVELOPMENT COUNCIL). THE SOLE MEMBER HAS THE EXCLUSIVE POWER TO 1) ELECT THE DIRECTORS OF THE CORPORATION; 2) REMOVE ANY DIRECTORS AT ANY TIME; 3) APPROVE OR DISAPPROVE ALL AMENDMENTS TO THE ARTICLES OF INCORPORATION AND THE BYLAWS OF THE CORPORATION; AND 4) APPROVE OR DISAPPROVE THE ANNUAL CAPITAL AND OPERATING BUDGETS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS OF LAUREL HILL DEVELOPMENT CORPORATION (LHD) CURRENTLY CONSISTS OF (6) BOARD MEMBERS, ALL OF WHOM ARE ALSO BOARD MEMBERS OF THE FAY-PENN ECONOMIC DEVELOPEMENT COUNCIL (FAY-PENN EDC), THE SOLE MEMBER. FAY-PENN EDC HAS APPROXIMATELY (54) ADDITIONAL BOARD MEMBERS. DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE SOLE MEMBER. LAUREL HILL DEVELOPMENT CORPORATION ADHERES TO FAY-PENN EDC'S POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE ARE NO COMMITTEES AT THIS TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING BODY OF THE ORGANIZATION REVIEWS THE ENTIRE FORM 990 TO DETERMINE THAT ALL OF THE INFORMATION BEING REPORTED ON THE RETURN IS COMPLETE AND ACCURATE. THE RETURN IS FILED AFTER OBTAINING BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IT MAKES IT AVAILABLE THROUGH PUBLIC RECORD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6LAUREL HILL DEVELOPMENT CORPORATION (LHD) HAS NO AUDIT COMMITTEE, BUT DUE TO COMMON MANAGEMENT OF LAUREL HILL DEVELOPMENT CORPORATION AND FAY-PENN EDC, THE EDC TAKES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FAY-PENN ECONOMIC DEVELOPMENT COUNCIL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0251649514
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROMOTE ECONOMIC WELFARE IN FAYETTE COUNTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0TWO WEST MAIN STREET SUITE 407
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0UNIONTOWN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd015401
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0155650
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1446496
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0BOOK VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1BOOK VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FAY-PENN ECONOMIC DEVELOPMENT COUNCIL (FAY-PENN EDC)
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1FAY-PENN ECONOMIC DEVELOPMENT COUNCIL (FAY-PENN EDC)
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1D
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012425875
IRS990/TotalAssetsEOYAmt011056219
IRS990/TotalAssetsGrp/BOYAmt012425875
IRS990/TotalAssetsGrp/EOYAmt011056219
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt025000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05051
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0223438
IRS990/TotalFunctionalExpensesGrp/TotalAmt0228489
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01200000
IRS990/TotalLiabilitiesEOYAmt0792
IRS990/TotalLiabilitiesGrp/BOYAmt01200000
IRS990/TotalLiabilitiesGrp/EOYAmt0792
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011225875
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011055427
IRS990/TotalOtherCompensationAmt05153
IRS990/TotalProgramServiceExpensesAmt0223438
IRS990/TotalProgramServiceRevenueAmt05650
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt027391
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05650
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt058041
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012425875
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011056219
IRS990/TotReportableCompRltdOrgAmt069578
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt011225875
IRS990/UnrestrictedNetAssetsGrp/EOYAmt011055427
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01040 EBERLY WAY NO 200
IRS990/USAddress/CityNm0LEMONT FURNACE
IRS990/USAddress/StateAbbreviationCd0PA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.