Civic Intelligence

Corry Area Industrial Development Corp

EIN 25-6061724 • 501(c)6 • Corry, PA

Profile

To provide economic growth to the Corry Area of Northwestern Pennsylvania.

PO Box 125Corry, PA 16407

n/A

Siviq Scores

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

Liabilities / Assets

26th percentile

0.09x

Higher debt load relative to assets than 26% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

54th percentile

0.42x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Net Margin

94th percentile

44%

Higher net margin than 94% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

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

501(c)6 • $10M-$25M nonprofits • Source year 2025

Asset Growth

43rd percentile

4.1%

Faster asset growth than 43% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

3rd percentile

-35%

Faster revenue growth than 3% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$11,915,374

Up $3,631,416 (+44%) from 2023

Liabilities

Down

$1,107,161

Down $238,689 (-18%) from 2023

Net Assets

Up

$10,808,213

Up $3,870,105 (+56%) from 2023

Operations
Liabilities / Revenue54th percentileNet Margin94th percentile

Revenue

Up

$2,616,961

Up $844,503 (+48%) from 2023

Expenses

Up

$1,465,015

Up $271,411 (+23%) from 2023

Net Income

Up

$1,151,946

Up $573,092 (+99%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth43rd percentile

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

$15M$10M$5.0M$0Assets 2011: $1,831,257Liabilities 2011: $1,347,599Net Assets 2011: $483,6582011Assets 2012: $1,022,065Liabilities 2012: $464,160Net Assets 2012: $557,9052012Assets 2013: $940,777Liabilities 2013: $362,874Net Assets 2013: $577,9032013Assets 2014: $4,879,415Liabilities 2014: $3,039,935Net Assets 2014: $1,839,4802014Assets 2015: $5,230,856Liabilities 2015: $3,027,418Net Assets 2015: $2,203,4382015Assets 2017: $5,470,836Liabilities 2017: $2,064,291Net Assets 2017: $3,406,5452017Assets 2018: $5,854,978Liabilities 2018: $1,797,251Net Assets 2018: $4,057,7272018Assets 2019: $7,415,743Liabilities 2019: $2,270,488Net Assets 2019: $5,145,2552019Assets 2020: $7,657,552Liabilities 2020: $2,144,012Net Assets 2020: $5,513,5402020Assets 2021: $7,823,916Liabilities 2021: $2,038,111Net Assets 2021: $5,785,8052021Assets 2022: $8,329,078Liabilities 2022: $1,969,824Net Assets 2022: $6,359,2542022Assets 2023: $8,283,958Liabilities 2023: $1,345,850Net Assets 2023: $6,938,1082023Assets 2025: $11,915,374Liabilities 2025: $1,107,161Net Assets 2025: $10,808,2132025

Highlighted filing

2025

Assets$11,915,374
Liabilities$1,107,161
Net Assets$10,808,213
Open 2025 Filing

Operations Trend

Revenue Growth3rd percentile

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

$3.0M$2.0M$1.0M$0Expenses 2011: $27,1472011Expenses 2012: $27,2722012Expenses 2013: $25,7382013Revenue 2014: $1,666,109Expenses 2014: $404,532Net Income 2014: $1,261,5772014Revenue 2015: $885,742Expenses 2015: $521,784Net Income 2015: $363,9582015Revenue 2017: $1,393,928Expenses 2017: $700,047Net Income 2017: $693,8812017Revenue 2018: $1,625,494Expenses 2018: $974,312Net Income 2018: $651,1822018Revenue 2019: $2,125,639Expenses 2019: $1,038,111Net Income 2019: $1,087,5282019Revenue 2020: $1,895,839Expenses 2020: $1,000,728Net Income 2020: $895,1112020Revenue 2021: $1,295,965Expenses 2021: $1,023,700Net Income 2021: $272,2652021Revenue 2022: $1,627,146Expenses 2022: $1,053,697Net Income 2022: $573,4492022Revenue 2023: $1,772,458Expenses 2023: $1,193,604Net Income 2023: $578,8542023Revenue 2025: $2,616,961Expenses 2025: $1,465,015Net Income 2025: $1,151,9462025

Highlighted filing

2025

Revenue$2,616,961
Expenses$1,465,015
Net Income$1,151,946
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$11,915,374
Liabilities
$1,107,161
Net assets
$10,808,213
Revenue
$2,616,961
Expenses
$1,465,015
Net income
$1,151,946
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$1.11$10.8$2.62$1.47$1.15
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.28$1.35$6.94$1.77$1.19$0.58
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.33$1.97$6.36$1.63$1.05$0.57
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.82$2.04$5.79$1.30$1.02$0.27
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.66$2.14$5.51$1.90$1.00$0.90
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.42$2.27$5.15$2.13$1.04$1.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.85$1.80$4.06$1.63$0.97$0.65
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.47$2.06$3.41$1.39$0.70$0.69
2015Detailed filing. Detailed filing data is available for this year.$5.23$3.03$2.20$0.89$0.52$0.36
2014Detailed filing. Detailed filing data is available for this year.$4.88$3.04$1.84$1.67$0.40$1.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.36$0.58$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.46$0.56$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$1.35$0.48$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Mar 1, 2024 to Feb 28, 2025
Signed
Sep 8, 2025
Return Version
2024v5.2
Gross Receipts
$2,616,961
Mission and Program Overview

Mission

To provide economic growth to the Corry Area of Northwestern Pennsylvania.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,028,004$7,891,670▼ $136,334
Cash and Non-Interest-Bearing Accounts$1,788,105$2,392,067▲ $603,962
Savings and Temporary Cash Investments$1,081,360$1,108,519▲ $27,159
Accounts Receivable$245,194$278,443▲ $33,249
Other Notes and Loans Receivable, Net$276,865$217,113▼ $59,752
Prepaid Expenses and Deferred Charges$28,079$27,562▼ $517
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$11,447,607$11,915,374▲ $467,767
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,690,463$1,006,284▼ $684,179
Other Liabilities$100,877$100,877→ $0
Total Liabilities$1,791,340$1,107,161▼ $684,179
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,656,267$10,808,213▲ $1,151,946
Total Net Assets Fund Balance$9,656,267$10,808,213▲ $1,151,946
Total Liabilities and Net Assets / Fund Balance$11,447,607$11,915,374▲ $467,767

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,540,432$1,078,123$5,618,555
Buildings$2,208,248$877,107$3,085,355
Land$1,140,390-$1,140,390
Equipment$2,600$84,340$86,940
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
David SamplePresident
Scott BradyVice President
Bill NicholsDirector
Bob WilliamsDirector
Kelly SoetyDirector
Dave DearbornSecretary
Brad RussellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$37,500
Program Service Revenue
$2,482,604
Investment Income
$96,857
Other Revenue
$0
All Other Contributions
$37,500
Change in Net Assets
$1,151,946

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,616,961
Total Revenue per Audited Statements
$2,616,961
Total Revenue per Form 990
$2,616,961
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,465,015
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$941,188--$941,188
Depreciation Depletion$290,297--$290,297
Insurance$93,618$558-$94,176
Fees for Services Legal-$53,029-$53,029
Interest$30,448--$30,448
Other Expenses$30,000--$30,000
Fees for Services Other-$10,091-$10,091
Fees for Services Accounting-$7,656-$7,656
Office Expenses-$7,159-$7,159
Conferences and Meetings-$971-$971
Total Functional Expenses$1,385,551$79,464$0$1,465,015

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,465,015
Total Expenses per Audited Statements$1,465,015
Total Expenses per Form 990$1,465,015
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$100,877
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 Board meets on a regular basis to conduct its business. When the audited financial statements and applicable tax returns are completed they are presented to the Board for approval. After approval the designated officer signs and consents to the tax filings.”

Form 990, Part VI, Section C, Line 19

“The Organization makes its governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Corry Area Industrial Development Corp
EIN
25-6061724
Phone
8146643884
Address
PO Box 125, Corry, PA 16407

Signing Officer

Name
David Sample
Title
President
Signed
2025-09-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Sample
Formed
1959
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Maloney Reed Scarpitti & Company LLP
Address
113 Meadville St, Edinboro, PA 16412
Preparer
Rick L Clayton CPA
Phone
8147343787
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management believes all tax positions taken and elections made would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions or elections has been recorded as of and for the year ended February 28th.”

Raw XML Appendix369 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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IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management believes all tax positions taken and elections made would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions or elections has been recorded as of and for the year ended February 28th.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization makes its governing documents available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0David Sample
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Corry Area Industrial Development Corp
ReturnHeader/Filer/BusinessNameControlTxt0CORR
ReturnHeader/Filer/EIN0256061724
ReturnHeader/Filer/PhoneNum08146643884
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 125
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251249111
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Maloney Reed Scarpitti & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0113 Meadville St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Edinboro
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd016412
ReturnHeader/PreparerPersonGrp/PhoneNum08147343787
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rick L Clayton CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-09-08T12:04:04-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-03-01
ReturnHeader/TaxPeriodEndDt02025-02-28
ReturnHeader/TaxYr02024

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