Civic Intelligence

Chambersburg Area Development Corporation

990 • Fiscal year 2019 • EIN 25-6063943

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 25, 2020

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

24th percentile

0.09x

Higher debt load relative to assets than 24% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.91x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Net Margin

98th percentile

71%

Higher net margin than 98% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

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.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Asset Growth

3rd percentile

-26%

Faster asset growth than 3% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

96th percentile

62%

Faster revenue growth than 96% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$15,988,272

Down $5,598,000 (-26%) from 2018

Net Assets

Up

$14,484,693

Up $1,313,209 (+10.0%) from 2018

Liabilities

Down

$1,503,579

Down $6,911,209 (-82%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin98th percentile

Revenue

Up

$1,658,203

Up $631,660 (+62%) from 2018

Expenses

Down

$476,313

Down $93,030 (-16%) from 2018

Net Income

Up

$1,181,890

Up $724,690 (+159%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2019

Assets$15,988,272
Liabilities$1,503,579
Net Assets$14,484,693
Open 2019 Filing

Operations Trend

Revenue Growth96th 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

2019

Revenue$1,658,203
Expenses$476,313
Net Income$1,181,890
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 25, 2020
Return Version
2019v5.0
Gross Receipts
$9,316,372
Mission and Program Overview

Mission

Facilitate economic development in the chambersburg area

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,457,186$8,469,708▼ $6,987,478
Savings and Temporary Cash Investments$2,617,411$3,678,852▲ $1,061,441
Investments Other Securities$2,513,244$2,870,290▲ $357,046
Other Notes and Loans Receivable, Net$809,694$765,534▼ $44,160
Cash and Non-Interest-Bearing Accounts$81,999$96,748▲ $14,749
Prepaid Expenses and Deferred Charges$82,678$86,780▲ $4,102
Accounts Receivable$22,475$19,121▼ $3,354
Total Assets$21,586,272$15,988,272▼ $5,598,000
Other Assets Total$1,585$1,239▼ $346
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,338,523$1,446,736▼ $6,891,787
Accounts Payable and Accrued Expenses$46,945$32,851▼ $14,094
Other Liabilities$29,320$23,992▼ $5,328
Total Liabilities$8,414,788$1,503,579▼ $6,911,209
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,171,484$14,484,693▲ $1,313,209
Total Net Assets Fund Balance$13,171,484$14,484,693▲ $1,313,209
Total Liabilities and Net Assets / Fund Balance$21,586,272$15,988,272▼ $5,598,000

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,506,787$7,296,424$14,803,211
Land$954,801-$954,801
Equipment$8,120$21,480$29,600
Other Securities$266,157--
Closely Held Equity Interests$1,570,713--
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Lance KegerreisPresident
Andy BarnesDirector
Austin KegerreisDirector
Brandon StoufferDirector
Chad RosenberryDirector
Chuck SiobergDirector
Dwayne JohnsonDirector
Edwin MartinDirector
Jim HillDirector
John MassimillaDirector
John NicklasDirector
Lane ThrushDirector
Ray CullenDirector
Scott JenningsDirector
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
$37,879
Investment Income
$667,589
Other Revenue
$952,235
All Other Contributions
$500
Change in Net Assets
$1,181,890

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,649,717
Revenue Not Reported on Financial Statements
$8,486
Revenue Not Reported on Form 990
$1,302,740
Other Revenue Adjustments
$8,486
Total Revenue per Audited Statements
$2,952,457
Total Revenue per Form 990
$1,658,203
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$476,313
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---$14,100
Fees for Services Legal---$10,243
All Other Expenses---$9,728
Other Expenses---$8,486
Insurance---$3,060
Total Functional Expenses$0$0$0$476,313

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,639,250
Expenses Not Reported on Form 990$1,171,423
Total Expenses per Form 990$476,313
Expenses per Audited Statements$467,827
Expenses Not Reported on Financial Statements$8,486
Other Expense Adjustments$8,486
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$41,231
Jack SharpeSecretaryLegal ServicesNo$10,331
Lance KegerreisPresidentLand DevelopmentNo$9,596
Jim HillDirectorRepairs/maintenanceNo$7,810
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$23,992
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
2020-06-25

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

Financial Statement Notes

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

“Rental expenses netted with income 1,171,419 rounding 1”

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

“Investment expenses netted with income 8,486”

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

“Rental expenses netted with income 1,171,419 rounding 4 book / tax depreciation difference 72,285”

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

“Investment expenses netted with income 8,486”

Raw XML AppendixShowing 400 of 554 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/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAMBER CHAI
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRES
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5ASST TRES
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/OtherExpensesGrp/Desc2CONTRIBUTIONS
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt082678
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IRS990/PrincipalOfficerNm0LANCE KEGERREIS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INDUSTRIAL DEVELOPMENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt037879
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0500
IRS990/PYInvestmentIncomeAmt0191859
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt07296424
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014803211
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt01570713
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0C
IRS990ScheduleD/EquipmentGrp/BookValueAmt08120
IRS990ScheduleD/EquipmentGrp/DepreciationAmt021480
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029600
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt08486
IRS990ScheduleD/ExpensesSubtotalAmt0467827
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0954801
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1266157
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt08486
IRS990ScheduleD/RevenueSubtotalAmt01649717
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSES NETTED WITH INCOME 1,171,419 ROUNDING 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT EXPENSES NETTED WITH INCOME 8,486
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES NETTED WITH INCOME 1,171,419 ROUNDING 4 BOOK / TAX DEPRECIATION DIFFERENCE 72,285
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3INVESTMENT EXPENSES NETTED WITH INCOME 8,486
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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IRS990ScheduleD/TotalBookValueSecuritiesAmt02870290
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1JACK SHARPE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2EDWIN MARTIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm3JIM HILL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0PRESIDENT

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,988,272
Liabilities
$1,503,579
Net assets
$14,484,693
Revenue
$1,658,203
Expenses
$476,313
Net income
$1,181,890
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