Civic Intelligence

Chambersburg Area Development Corporation

990 • Fiscal year 2018 • EIN 25-6063943

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 26, 2019

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

68th percentile

0.39x

Higher debt load relative to assets than 68% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

8.20x

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

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Net Margin

95th percentile

45%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

41st percentile

0.1%

Faster asset growth than 41% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

86th percentile

17%

Faster revenue growth than 86% of similar nonprofits.

2018 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$21,586,272

Up $17,647 (+0.1%) from 2017

Net Assets

Up

$13,171,484

Up $318,854 (+2.5%) from 2017

Liabilities

Down

$8,414,788

Down $301,207 (-3.5%) from 2017

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin95th percentile

Revenue

Up

$1,026,543

Up $148,040 (+17%) from 2017

Expenses

Up

$569,343

Up $45,917 (+8.8%) from 2017

Net Income

Up

$457,200

Up $102,123 (+29%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth41st 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

2018

Assets$21,586,272
Liabilities$8,414,788
Net Assets$13,171,484
Open 2018 Filing

Operations Trend

Revenue Growth86th 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

2018

Revenue$1,026,543
Expenses$569,343
Net Income$457,200
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 26, 2019
Return Version
2018v3.1
Gross Receipts
$2,317,731
Mission and Program Overview

Mission

Facilitate economic development in the chambersburg area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,976,744$15,457,186▼ $519,558
Savings and Temporary Cash Investments$2,426,083$2,617,411▲ $191,328
Investments Other Securities$2,404,302$2,513,244▲ $108,942
Other Notes and Loans Receivable, Net$605,812$809,694▲ $203,882
Prepaid Expenses and Deferred Charges$74,257$82,678▲ $8,421
Cash and Non-Interest-Bearing Accounts$54,228$81,999▲ $27,771
Accounts Receivable$23,000$22,475▼ $525
Total Assets$21,568,625$21,586,272▲ $17,647
Other Assets Total$4,199$1,585▼ $2,614
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,641,267$8,338,523▼ $302,744
Accounts Payable and Accrued Expenses$44,808$46,945▲ $2,137
Other Liabilities$29,920$29,320▼ $600
Total Liabilities$8,715,995$8,414,788▼ $301,207
Net Assets / Fund Balance
Unrestricted Net Assets$12,852,630$13,171,484▲ $318,854
Total Net Assets Fund Balance$12,852,630$13,171,484▲ $318,854
Total Liabilities and Net Assets / Fund Balance$21,568,625$21,586,272▲ $17,647

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,193,123$7,094,011$20,287,134
Land$2,255,296-$2,255,296
Equipment$8,767$20,833$29,600
Other Securities$107,628--
Closely Held Equity Interests$1,451,344--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Lance KegerreisPresident
Andy BarnesDirector
Austin KegerreisDirector
Brandon StoufferDirector
Chad RosenberryDirector
Chuck SiobergDirector
Dwayne JohnsonDirector
Edwin MartinDirector
Jim HillDirector
Jimmy WadeDirector
John MassimillaDirector
Lane ThrushDirector
Ray CullenDirector
Tanya NitterhouseDirector
Troy GarmanDirector
William Everly JrDirector
Tim HenryAsst Tres
Kim CriderChamber Chai
Jack SharpeSecretary
Luke MartinTreasurer
Eric ForemanVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$500
Program Service Revenue
$53,971
Investment Income
$191,859
Other Revenue
$780,213
All Other Contributions
$500
Change in Net Assets
$457,200

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,018,033
Revenue Not Reported on Financial Statements
$8,510
Revenue Not Reported on Form 990
$1,225,040
Other Revenue Adjustments
$8,510
Total Revenue per Audited Statements
$2,243,073
Total Revenue per Form 990
$1,026,543
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$569,343
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
All Other Expenses---$16,075
Fees for Services Accounting---$13,630
Other Expenses---$8,510
Fees for Services Other---$7,238
Insurance---$3,279
Fees for Services Legal---$2,441
Total Functional Expenses$0$0$0$569,343

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,924,220
Expenses Not Reported on Form 990$1,363,387
Total Expenses per Form 990$569,343
Expenses per Audited Statements$560,833
Expenses Not Reported on Financial Statements$8,510
Other Expense Adjustments$8,510
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$6,337
Jack SharpeSecretaryLegal ServicesNo$2,866
Michael KalathasDirectorAnnual MeetingNo$1,642
Jimmy WadeDirectorUtilitiesNo$1,251
Tim HenryDirectorFeesNo$1,150
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$29,320
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
President
Phone
7172647101
Signed
2019-09-26

Organization Details

Principal Officer
Lance Kegerreis
Formed
1960
Legal Domicile
Pa
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
21

Preparer

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

Financial Statement Notes

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

“Rental expenses netted with income 1,363,387”

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

“Investment expenses netted with income 8,510”

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

“Change in allowance account 0 rental expenses netted with income 1,363,387 book / tax depreciation difference 72,198”

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

“Change in allowance account 0 investment expenses netted with income 8,510”

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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/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15CHAMBER CHAI
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/OtherExpensesGrp/Desc1CONTRIBUTIONS
IRS990/OtherExpensesGrp/Desc2BAD DEBTS
IRS990/OtherExpensesGrp/Desc3INVESTMENT FEES
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IRS990/OtherRevenueMiscGrp/Desc1UTILITY REIMBURSEMENT
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt074257
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt082678
IRS990/PrincipalOfficerNm0LANCE KEGERREIS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INDUSTRIAL DEVELOPMENT FEES
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IRS990/PYRevenuesLessExpensesAmt0355077
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IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0457200
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
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IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt02617411
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt013193123
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07094011
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt020287134
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt01451344
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0C
IRS990ScheduleD/EquipmentGrp/BookValueAmt08767
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020833
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029600
IRS990ScheduleD/ExpensesNotReportedAmt01363387
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt08510
IRS990ScheduleD/ExpensesSubtotalAmt0560833
IRS990ScheduleD/LandGrp/BookValueAmt02255296
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02255296
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-138347
IRS990ScheduleD/OtherExpensesIncludedAmt01363387
IRS990ScheduleD/OtherExpensesNotIncludedAmt08510
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt029320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherRevenueAmt01363387
IRS990ScheduleD/OtherRevenuesNotIncludedAmt08510
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0954272
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1107628
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IRS990ScheduleD/OtherSecuritiesGrp/Desc1CERTIFICATE OF DEPOSIT
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt08510
IRS990ScheduleD/RevenueSubtotalAmt01018033
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSES NETTED WITH INCOME 1,363,387
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT EXPENSES NETTED WITH INCOME 8,510
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CHANGE IN ALLOWANCE ACCOUNT 0 RENTAL EXPENSES NETTED WITH INCOME 1,363,387 BOOK / TAX DEPRECIATION DIFFERENCE 72,198
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3CHANGE IN ALLOWANCE ACCOUNT 0 INVESTMENT EXPENSES NETTED WITH INCOME 8,510
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1JACK SHARPE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2EDWIN MARTIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm3JIMMY WADE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm4TIM HENRY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1SECRETARY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt26337
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt31251
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt41150

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,586,272
Liabilities
$8,414,788
Net assets
$13,171,484
Revenue
$1,026,543
Expenses
$569,343
Net income
$457,200
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