Civic Intelligence

Somerset County Economic Development Council

990 • Fiscal year 2015 • EIN 25-6010909

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization ProfileWWW.SCEDC.NET
PO Box 48Somerset, PA 15501

(814) 445-9655

Siviq Scores

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

Liabilities / Assets

34th percentile

0.09x

Higher debt load relative to assets than 34% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

1.46x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Net Margin

5th percentile

-21%

Higher net margin than 5% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Asset Growth

35th percentile

-1.1%

Faster asset growth than 35% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

98th percentile

101%

Faster revenue growth than 98% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets34th percentile

Assets

Down

$2,069,678

Down $22,046 (-1.1%) from 2014

Net Assets

Down

$1,882,008

Down $27,494 (-1.4%) from 2014

Liabilities

Up

$187,670

Up $5,448 (+3.0%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin5th percentile

Revenue

Up

$128,212

Up $64,428 (+101%) from 2014

Expenses

Down

$155,706

Down $41,211 (-21%) from 2014

Net Income

Up

-$27,494

Up $105,639 (+79%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$3.0M$2.0M$1.0M$0Assets 2012: $2,651,696Liabilities 2012: $492,751Net Assets 2012: $2,158,9452012Assets 2013: $2,496,624Liabilities 2013: $453,989Net Assets 2013: $2,042,6352013Assets 2014: $2,091,724Liabilities 2014: $182,222Net Assets 2014: $1,909,5022014Assets 2015: $2,069,678Liabilities 2015: $187,670Net Assets 2015: $1,882,0082015Assets 2016: $1,992,268Liabilities 2016: $147,777Net Assets 2016: $1,844,4912016Assets 2017: $2,082,876Liabilities 2017: $199,053Net Assets 2017: $1,883,8232017Assets 2018: $1,941,473Liabilities 2018: $67,655Net Assets 2018: $1,873,8182018Assets 2019: $1,900,689Liabilities 2019: $49,810Net Assets 2019: $1,850,8792019Assets 2020: $1,877,290Liabilities 2020: $36,957Net Assets 2020: $1,840,3332020Assets 2021: $1,874,127Liabilities 2021: $8,735Net Assets 2021: $1,865,3922021Assets 2022: $1,922,592Liabilities 2022: $7,856Net Assets 2022: $1,914,7362022Assets 2023: $150,032Liabilities 2023: $4,147Net Assets 2023: $145,8852023Assets 2024: $144,130Liabilities 2024: $4,190Net Assets 2024: $139,9402024

Highlighted filing

2015

Assets$2,069,678
Liabilities$187,670
Net Assets$1,882,008
Open 2015 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.0M$0-$1.0M-$2.0MExpenses 2012: $232,8072012Revenue 2013: $125,490Expenses 2013: $241,800Net Income 2013: -$116,3102013Revenue 2014: $63,784Expenses 2014: $196,917Net Income 2014: -$133,1332014Revenue 2015: $128,212Expenses 2015: $155,706Net Income 2015: -$27,4942015Revenue 2016: $138,473Expenses 2016: $175,990Net Income 2016: -$37,5172016Revenue 2017: $263,221Expenses 2017: $223,890Net Income 2017: $39,3312017Revenue 2018: $285,266Expenses 2018: $295,271Net Income 2018: -$10,0052018Revenue 2019: $128,100Expenses 2019: $151,039Net Income 2019: -$22,9392019Revenue 2020: $157,341Expenses 2020: $167,887Net Income 2020: -$10,5462020Revenue 2021: $93,709Expenses 2021: $68,650Net Income 2021: $25,0592021Revenue 2022: $74,120Expenses 2022: $24,776Net Income 2022: $49,3442022Revenue 2023: -$1,541,086Expenses 2023: $227,765Net Income 2023: -$1,768,8512023Revenue 2024: $0Expenses 2024: $5,945Net Income 2024: -$5,9452024

Highlighted filing

2015

Revenue$128,212
Expenses$155,706
Net Income-$27,494
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$128,212
Mission and Program Overview

Mission

The organization was created for the economic development of somerset county, pennsylvania, with it's mission to promote industrial, commercial and retail growth in the county by recruiting and assisting new firms to locate in the county, while helping existing companies to retain or expand employment.

The organization was created for the economic development of somerset county, pennsylvania, with its mission to promote industrial, commercial, and retail growth in the county by recruiting and assisting new firms to locate in the county, while helping existing companies to retain or expand employment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,647,424$1,645,469▼ $1,955
Savings and Temporary Cash Investments$289,349$288,542▼ $807
Cash and Non-Interest-Bearing Accounts$61,677$71,755▲ $10,078
Other Notes and Loans Receivable, Net$67,375$47,944▼ $19,431
Receivables From Officers Etc$18,293$13,383▼ $4,910
Prepaid Expenses and Deferred Charges$3,367$2,355▼ $1,012
Accounts Receivable$4,239$230▼ $4,009
Total Assets$2,091,724$2,069,678▼ $22,046
Liabilities
Deferred Revenue$172,493$172,494▲ $1
Other Liabilities$7,078$8,004▲ $926
Accounts Payable and Accrued Expenses$2,651$7,172▲ $4,521
Total Liabilities$182,222$187,670▲ $5,448
Net Assets / Fund Balance
Unrestricted Net Assets$1,762,182$1,741,081▼ $21,101
Permanently Rstr Net Assets$147,320$140,927▼ $6,393
Total Net Assets Fund Balance$1,909,502$1,882,008▼ $27,494
Total Liabilities and Net Assets / Fund Balance$2,091,724$2,069,678▼ $22,046

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,636,036-$1,636,036
Buildings$8,135$73,508$81,643
Equipment$1,298$65,176$66,474
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
James ZimmermanPresident
Bill UhligDirector
Cassie MoonDirector
Chris BurtnerDirector
G Henry CookDirector
Gerald WalkerDirector
Hank ParkeDirector
James YoderDirector
Jeff LatuchDirector
John P VatavukDirector
Lenny LottigDirector
Linda OesterDirector
Mark AlbrightDirector
Mike HruskaDirector
Owen RimelDirector
Randy MusserDirector
Steven BuncichDirector
Thomas BoydDirector
Walter AsonevichDirector
Gary Bentz1st Vice Pre
Jon Wahl2nd VP
Julie KregerAsst Secret/
Ruston OgburnSecretary
Gerald LentzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$77,555
Program Service Revenue
$3,801
Investment Income
$42,305
Other Revenue
$4,551
Change in Net Assets
$-27,494
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$107,272
Other Expenses$48,434
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$90,682
Fees for Services Accounting---$12,600
Payroll Taxes---$7,470
Other Employee Benefits---$7,317
Office Expenses---$6,850
Occupancy---$4,760
Advertising---$4,134
Insurance---$3,914
Depreciation Depletion---$1,955
Pension Plan Contributions---$1,803
Other Expenses---$1,766
All Other Expenses---$1,355
Travel---$1,053
Conferences and Meetings---$500
Total Functional Expenses$0$0$0$155,706
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,551
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$18,293$13,383▼ $4,910
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Grant Funds/interest Due to Dced$8,004
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with family members
No
Business relationship with organization members
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The somerset county economic development council has members who pay membership fees based on the type of entity.”

Form 990, Page 6, Part VI, Line 7A

“Directors of the council are elected by the council membership.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 is provided to the council offices for review and approval prior to filing.”

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

“Each officer/director/employee is given copy of code of ethics which includes conflict of interest policy. The code of ethics requires conflicts of interest to be disclosed by the respective officer/director/employee and prohibits such individual from participating in deliberations and voting on actions concerning such matter. The disclosure shall be made part of the minutes of the organization. The policy calls for disciplinary action if required conflict of interest disclosure is not made.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and forms 990 are available to public for review upon request at the council offices in somerset, pa.”

Filing and Contact Details

Filer

Filer Name
Somerset County Economic
EIN
25-6010909
Phone
8144459655
Address
PO BOX 48, SOMERSET, PA 15501

Signing Officer

Name
James Zimmerman
Title
President
Phone
8144459655
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Zimmerman
Formed
1957
Legal Domicile
Pa
Voting Board Members
24
Independent Board Members
24
Employees
2

Preparer

Firm
Bulow Hottle & Co
Address
950 E MAIN ST, SOMERSET, PA 15501-2005
Preparer
Lauren R Hemming CPA
Phone
8144458961
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization was created for the economic development of somerset county, pennsylvania, with its mission to promote industrial, commercial, and retail growth in the county by recruiting and assisting new firms to locate in the county, while helping existing companies to retain or expand employment.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21ST VICE PRE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt72ND VP
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16ASST SECRET/
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
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IRS990/FundraisingActivitiesInd0false
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IRS990/GainOrLossGrp/OtherAmt042272
IRS990/GamingActivitiesInd0false
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossReceiptsAmt0128212
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IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt01647424
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01645469
IRS990/LandBldgEquipCostOrOtherBssAmt01784153
IRS990/LegalDomicileStateCd0PA
IRS990/LoanOutstandingInd0true
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt020657
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE ORGANIZATION WAS CREATED FOR THE ECONOMIC DEVELOPMENT OF SOMERSET COUNTY, PENNSYLVANIA, WITH ITS MISSION TO PROMOTE INDUSTRIAL, COMMERCIAL, AND RETAIL GROWTH IN THE COUNTY BY RECRUITING AND ASSISTING NEW FIRMS TO LOCATE IN THE COUNTY, WHILE HELPING EXISTING COMPANIES TO RETAIN OR EXPAND EMPLOYMENT.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01909502
IRS990/NetAssetsOrFundBalancesEOYAmt01882008
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt042272
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt042272
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt04551
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt04760
IRS990/OfficeExpensesGrp/TotalAmt06850
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt07317
IRS990/OtherExpensesGrp/Desc0REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2TELEPHONE
IRS990/OtherExpensesGrp/Desc3EQUIPMENT RENTAL
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IRS990/OtherExpensesGrp/TotalAmt12191
IRS990/OtherExpensesGrp/TotalAmt22133
IRS990/OtherExpensesGrp/TotalAmt31766
IRS990/OtherLiabilitiesGrp/BOYAmt07078
IRS990/OtherLiabilitiesGrp/EOYAmt08004
IRS990/OtherSalariesAndWagesGrp/TotalAmt090682
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt067375
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt047944
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt07470
IRS990/PensionPlanContributionsGrp/TotalAmt01803
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0147320
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0140927
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03367
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02355
IRS990/PrincipalOfficerNm0JAMES ZIMMERMAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MICRO-REV LOAN FUND INT/FEES
IRS990/ProgramServiceRevenueGrp/Desc1LOAN APPLICATION & SVC FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02339
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11462
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02339
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11462
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0170388
IRS990/PYInvestmentIncomeAmt0-114285
IRS990/PYOtherExpensesAmt050916
IRS990/PYOtherRevenueAmt03370
IRS990/PYProgramServiceRevenueAmt04311
IRS990/PYRevenuesLessExpensesAmt0-133133
IRS990/PYSalariesCompEmpBnftPaidAmt0146001
IRS990/PYTotalExpensesAmt0196917
IRS990/PYTotalRevenueAmt063784
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt018293
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt013383
IRS990/ReconcilationRevenueExpnssAmt0-27494
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0289349
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0288542
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/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt08135
IRS990ScheduleD/BuildingsGrp/DepreciationAmt073508
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt081643
IRS990ScheduleD/EquipmentGrp/BookValueAmt01298
IRS990ScheduleD/EquipmentGrp/DepreciationAmt065176
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt066474
IRS990ScheduleD/LandGrp/BookValueAmt01636036
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01636036
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08004
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0GRANT FUNDS/INTEREST DUE TO DCED
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01645469
IRS990ScheduleD/TotalLiabilityAmt08004
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0JEFF LATUCH - TAILGATEZ LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt0TAILGATEZ LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR/ LOAN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0LOAN RECIPIENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt08030
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt15353
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0BUSINESS MICRO REVOLVING LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1TOURISM MICRO REVOLVING LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt015000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt110000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0JEFF LATUCHTAILGATEZ LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1JEFF LATUCHTAILGATEZ LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/TotalBalanceDueAmt013383
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS CREATED FOR THE ECONOMIC DEVELOPMENT OF SOMERSET COUNTY, PENNSYLVANIA, WITH ITS MISSION TO PROMOTE INDUSTRIAL, COMMERCIAL, AND RETAIL GROWTH IN THE COUNTY BY RECRUITING AND ASSISTING NEW FIRMS TO LOCATE IN THE COUNTY, WHILE HELPING EXISTING COMPANIES TO RETAIN OR EXPAND EMPLOYMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOMERSET COUNTY ECONOMIC DEVELOPMENT COUNCIL HAS MEMBERS WHO PAY MEMBERSHIP FEES BASED ON THE TYPE OF ENTITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS OF THE COUNCIL ARE ELECTED BY THE COUNCIL MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE FORM 990 IS PROVIDED TO THE COUNCIL OFFICES FOR REVIEW AND APPROVAL PRIOR TO FILING.

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,069,678
Liabilities
$187,670
Net assets
$1,882,008
Revenue
$128,212
Expenses
$155,706
Net income
-$27,494
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.00$0.14$0.00$0.01$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$1.54$0.23$1.77
2022Detailed filing. Detailed filing data is available for this year.$1.92$0.01$1.91$0.07$0.02$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.87$0.01$1.87$0.09$0.07$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.88$0.04$1.84$0.16$0.17$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.90$0.05$1.85$0.13$0.15$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.94$0.07$1.87$0.29$0.30$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.08$0.20$1.88$0.26$0.22$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.99$0.15$1.84$0.14$0.18$0.04
2015Detailed filing. Detailed filing data is available for this year.$2.07$0.19$1.88$0.13$0.16$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.09$0.18$1.91$0.06$0.20$0.13
2013Detailed filing. Detailed filing data is available for this year.$2.50$0.45$2.04$0.13$0.24$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.65$0.49$2.16$0.23