Civic Intelligence

Chambersburg Area Development Corporation

990 • Fiscal year 2016 • EIN 25-6063943

Jan 01, 2016 to Dec 31, 2016 • Filed on May 31, 2017

Organization ProfileWWW.CHAMBERSBURG.ORG/AFFILIATES/CADC
100 Lincoln Way East Rm/Ste AChambersburg, PA 17201

(717) 264-7101

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.31x

Higher debt load relative to assets than 53% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

7.64x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Net Margin

94th percentile

34%

Higher net margin than 94% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Asset Growth

15th percentile

-4.9%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-29%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Down

$17,883,359

Down $930,492 (-4.9%) from 2015

Net Assets

Down

$12,407,795

Down $158,748 (-1.3%) from 2015

Liabilities

Down

$5,475,564

Down $771,744 (-12%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin94th percentile

Revenue

Down

$717,057

Down $289,778 (-29%) from 2015

Expenses

Down

$473,867

Down $120,814 (-20%) from 2015

Net Income

Down

$243,190

Down $168,964 (-41%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$30M$20M$10M$0Assets 2013: $17,511,320Liabilities 2013: $7,036,011Net Assets 2013: $10,475,3092013Assets 2014: $20,507,160Liabilities 2014: $8,624,754Net Assets 2014: $11,882,4062014Assets 2015: $18,813,851Liabilities 2015: $6,247,308Net Assets 2015: $12,566,5432015Assets 2016: $17,883,359Liabilities 2016: $5,475,564Net Assets 2016: $12,407,7952016Assets 2017: $21,568,625Liabilities 2017: $8,715,995Net Assets 2017: $12,852,6302017Assets 2018: $21,586,272Liabilities 2018: $8,414,788Net Assets 2018: $13,171,4842018Assets 2019: $15,988,272Liabilities 2019: $1,503,579Net Assets 2019: $14,484,6932019Assets 2021: $16,114,179Liabilities 2021: $1,043,229Net Assets 2021: $15,070,9502021Assets 2022: $18,940,526Liabilities 2022: $1,400,120Net Assets 2022: $17,540,4062022Assets 2023: $26,310,426Liabilities 2023: $8,196,022Net Assets 2023: $18,114,4042023Assets 2024: $26,157,313Liabilities 2024: $7,901,072Net Assets 2024: $18,256,2412024

Highlighted filing

2016

Assets$17,883,359
Liabilities$5,475,564
Net Assets$12,407,795
Open 2016 Filing

Operations Trend

Revenue Growth5th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2013: $746,591Expenses 2013: $616,429Net Income 2013: $130,1622013Revenue 2014: $1,091,593Expenses 2014: $552,930Net Income 2014: $538,6632014Revenue 2015: $1,006,835Expenses 2015: $594,681Net Income 2015: $412,1542015Revenue 2016: $717,057Expenses 2016: $473,867Net Income 2016: $243,1902016Revenue 2017: $878,503Expenses 2017: $523,426Net Income 2017: $355,0772017Revenue 2018: $1,026,543Expenses 2018: $569,343Net Income 2018: $457,2002018Revenue 2019: $1,658,203Expenses 2019: $476,313Net Income 2019: $1,181,8902019Revenue 2021: $915,984Expenses 2021: $395,127Net Income 2021: $520,8572021Revenue 2022: $3,203,154Expenses 2022: $428,729Net Income 2022: $2,774,4252022Revenue 2023: $888,054Expenses 2023: $461,814Net Income 2023: $426,2402023Revenue 2024: $542,957Expenses 2024: $463,559Net Income 2024: $79,3982024

Highlighted filing

2016

Revenue$717,057
Expenses$473,867
Net Income$243,190
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 31, 2017
Return Version
2016v3.0
Gross Receipts
$1,846,813
Mission and Program Overview

Mission

Facilitate economic development in the chambersburg area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,834,322$13,060,682▲ $3,226,360
Savings and Temporary Cash Investments$873,319$2,010,433▲ $1,137,114
Investments Other Securities$703,413$1,868,576▲ $1,165,163
Other Notes and Loans Receivable, Net$7,222,170$778,488▼ $6,443,682
Prepaid Expenses and Deferred Charges$66,955$74,010▲ $7,055
Cash and Non-Interest-Bearing Accounts$84,340$57,109▼ $27,231
Accounts Receivable$24,334$29,070▲ $4,736
Total Assets$18,813,851$17,883,359▼ $930,492
Other Assets Total$4,998$4,991▼ $7
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,972,583$5,290,517▼ $682,066
Accounts Payable and Accrued Expenses$40,504$109,346▲ $68,842
Other Liabilities$234,221$75,701▼ $158,520
Total Liabilities$6,247,308$5,475,564▼ $771,744
Net Assets / Fund Balance
Unrestricted Net Assets$12,566,543$12,407,795▼ $158,748
Total Net Assets Fund Balance$12,566,543$12,407,795▼ $158,748
Total Liabilities and Net Assets / Fund Balance$18,813,851$17,883,359▼ $930,492

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,520,644$6,067,061$16,587,705
Land$2,529,282-$2,255,296
Equipment$10,756$18,844$29,600
Other Securities$1,021,630--
Closely Held Equity Interests$846,946--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Edwin MartinPresident
Austin KegerreisDirector
Bret ElbinDirector
Chuck SiobergDirector
Dwayne JohnsonDirector
Jim HillDirector
Jimmy WadeDirector
Joe ZmitrovichDirector
John MassimillaDirector
Kelly AdamsDirector
Lane ThrushDirector
Michael JacksonDirector
Michael KalathasDirector
Mike HurtDirector
Tanya NitterhouseDirector
William E Snell JrDirector
William Everly JrDirector
Jacob KaufmanAsst Tres
Troy GarmanChamber Chai
Jack SharpeSecretary
Charles FrameTreasurer
Lance KegerreisVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$41,280
Investment Income
$190,104
Other Revenue
$485,673
Change in Net Assets
$243,190

Audited Revenue Reconciliation

Revenue per Audited Statements
$717,057
Total Revenue per Audited Statements
$717,057
Total Revenue per Form 990
$717,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$473,867
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
Fees for Services Accounting-$12,800-$12,800
Other Expenses$6,457$718-$7,175
All Other Expenses-$5,860-$5,860
Fees for Services Other$5,590--$5,590
Fees for Services Legal$3,823$675-$4,498
Insurance-$3,330-$3,330
Total Functional Expenses$356,056$117,811$0$473,867

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$473,867
Expenses Not Reported on Financial Statements$417,688
Other Expense Adjustments$417,688
Expenses per Audited Statements$56,179
Total Expenses per Audited Statements$56,179
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Edwin MartinDirectorLand DevelopmentNo$168,153
Lance KegerreisVice PresidentEngineering ServicesNo$52,108
Jimmy WadeDirectorUtilitiesNo$12,647
Jack SharpeSecretaryLegal ServicesNo$4,499
Michael KalathasDirectorAnnual MeetingNo$2,664
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$52,071
Land Sale Option$23,630
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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, Part VI

“Section b, policies - policies for whistleblower (13) and written document line 19 -the financial statements are available to the public upon request”

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

“The form 990 is presented before the governing body at the monthly meeting.”

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

“The organization requires that all directors disclose any conflicts of interest and abstain from voting on any matters to which there may be a conflict of interest.”

Form 990, Page 6, Part VI, Line 15A

“A committee of the board of directors sets the executive directores compensation. No board members are compensated.”

Form 990, Page 6, Part VI, Line 19

“Documents requireing public inspection are available upon request at main office if they exist”

Filing and Contact Details

Filer

Filer Name
Chambersburg Area Development
EIN
25-6063943
Phone
7172647101
Address
100 LINCOLN WAY EAST RM/STE A, CHAMBERSBURG, PA 17201

Signing Officer

Name
Lance Kegerreis
Title
Vice Pres
Phone
7172647101
Signed
2017-05-31

Organization Details

Principal Officer
Lance Kegerreis
Formed
1960
Legal Domicile
Pa
Voting Board Members
22
Independent Board Members
22
Employees
0
Volunteers
22

Preparer

Firm
Schultheiss & Associates
Address
720 NORLAND AVENUE, CHAMBERSBURG, PA 17201
Preparer
Michael L Hargleroad
Phone
7172672100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Change in allowance account 0 change in allowance account -417,688 total -417,688”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Change in allowance account 0 book / tax depreciation difference 71,842”

Schedule D, Page 4, Part XII, Line 4B

“Change in allowance account 417,688”

Raw XML AppendixShowing 400 of 552 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/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRES
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASST TRES
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHAMBER CHAI
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/LandBldgEquipCostOrOtherBssAmt019146587
IRS990/LegalDomicileStateCd0PA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0145682
IRS990/LessRentalExpensesGrp/RealAmt01055917
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0ADMINISTRATIVE FEES
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IRS990/OtherExpensesGrp/Desc2CONTRIBUTIONS
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IRS990/OtherRevenueMiscGrp/Desc1UTILITY REIMBURSEMENT
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS INCOME
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1107810
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1107810
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt22082
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt07222170
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0778488
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt066955
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt074010
IRS990/PrincipalOfficerNm0LANCE KEGERREIS
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IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0873319
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02010433
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt06067061
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt016587705
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IRS990ScheduleD/EquipmentGrp/BookValueAmt010756
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018844
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029600
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0417688
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02255296
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt052071
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt123630
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LAND SALE OPTION
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueSubtotalAmt0717057
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHANGE IN ALLOWANCE ACCOUNT 0 BOOK / TAX DEPRECIATION DIFFERENCE 71,842
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN ALLOWANCE ACCOUNT 417,688
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueSecuritiesAmt01868576
IRS990ScheduleD/TotalExpensesPerForm990Amt0473867
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IRS990ScheduleD/TotalRevenuePerForm990Amt0717057
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt056179
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0MICHAEL KALATHAS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1JACK SHARPE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2LANCE KEGERREIS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm3EDWIN MARTIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm4JIMMY WADE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1SECRETARY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2VICE PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3DIRECTOR

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,883,359
Liabilities
$5,475,564
Net assets
$12,407,795
Revenue
$717,057
Expenses
$473,867
Net income
$243,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.2$7.90$18.3$0.54$0.46$0.08
2023Detailed filing. Detailed filing data is available for this year.$26.3$8.20$18.1$0.89$0.46$0.43
2022Detailed filing. Detailed filing data is available for this year.$18.9$1.40$17.5$3.20$0.43$2.77
2021Detailed filing. Detailed filing data is available for this year.$16.1$1.04$15.1$0.92$0.40$0.52
2019Detailed filing. Detailed filing data is available for this year.$16.0$1.50$14.5$1.66$0.48$1.18
2018Detailed filing. Detailed filing data is available for this year.$21.6$8.41$13.2$1.03$0.57$0.46
2017Detailed filing. Detailed filing data is available for this year.$21.6$8.72$12.9$0.88$0.52$0.36
2016Detailed filing. Detailed filing data is available for this year.$17.9$5.48$12.4$0.72$0.47$0.24
2015Detailed filing. Detailed filing data is available for this year.$18.8$6.25$12.6$1.01$0.59$0.41
2014Detailed filing. Detailed filing data is available for this year.$20.5$8.62$11.9$1.09$0.55$0.54
2013Detailed filing. Detailed filing data is available for this year.$17.5$7.04$10.5$0.75$0.62$0.13