Civic Intelligence

The Progress Fund

990 • Fiscal year 2022 • EIN 31-1598881

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 01, 2023

425 West Pittsburgh StreetGreensburg, PA 15601

(724) 216-9160

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.18x

Higher debt load relative to assets than 42% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

1.83x

Higher debt load relative to revenue than 84% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

96th percentile

74%

Higher net margin than 96% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

34th percentile

$269,751

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

67th percentile

5.6%

Faster asset growth than 67% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

94th percentile

114%

Faster revenue growth than 94% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Up

$56,975,518

Up $12,248,671 (+27%) from 2019

Net Assets

Up

$46,744,901

Up $15,547,206 (+50%) from 2019

Liabilities

Down

$10,230,617

Down $3,298,535 (-24%) from 2019

Revenue

Up

$5,589,608

Up $1,977,517 (+55%) from 2019

Expenses

Down

$1,460,409

Down $245,284 (-14%) from 2019

Net Income

Up

$4,129,199

Up $2,222,801 (+117%) from 2019

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $23,227,617Liabilities 2010: $10,667,933Net Assets 2010: $12,559,6842010Assets 2011: $30,032,278Liabilities 2011: $14,912,997Net Assets 2011: $15,119,2812011Assets 2012: $31,746,774Liabilities 2012: $15,275,002Net Assets 2012: $16,471,7722012Assets 2013: $32,939,773Liabilities 2013: $13,926,445Net Assets 2013: $19,013,3282013Assets 2014: $37,045,257Liabilities 2014: $15,633,684Net Assets 2014: $21,411,5732014Assets 2015: $37,630,654Liabilities 2015: $13,607,450Net Assets 2015: $24,023,2042015Assets 2016: $41,886,120Liabilities 2016: $15,125,248Net Assets 2016: $26,760,8722016Assets 2017: $44,531,690Liabilities 2017: $16,597,271Net Assets 2017: $27,934,4192017Assets 2019: $44,726,847Liabilities 2019: $13,529,152Net Assets 2019: $31,197,6952019Assets 2022: $56,975,518Liabilities 2022: $10,230,617Net Assets 2022: $46,744,9012022

Highlighted filing

2022

Assets$56,975,518
Liabilities$10,230,617
Net Assets$46,744,901

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2010: $1,357,9082010Expenses 2011: $1,585,1472011Expenses 2012: $1,466,4442012Revenue 2013: $4,233,185Expenses 2013: $1,691,629Net Income 2013: $2,541,5562013Revenue 2014: $4,090,622Expenses 2014: $1,692,377Net Income 2014: $2,398,2452014Revenue 2015: $4,308,973Expenses 2015: $1,696,710Net Income 2015: $2,612,2632015Revenue 2016: $4,220,094Expenses 2016: $1,482,031Net Income 2016: $2,738,0632016Revenue 2017: $2,660,270Expenses 2017: $1,486,059Net Income 2017: $1,174,2112017Revenue 2019: $3,612,091Expenses 2019: $1,705,693Net Income 2019: $1,906,3982019Revenue 2022: $5,589,608Expenses 2022: $1,460,409Net Income 2022: $4,129,1992022

Highlighted filing

2022

Revenue$5,589,608
Expenses$1,460,409
Net Income$4,129,199
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 1, 2023
Return Version
2022v4.1
Gross Receipts
$5,610,416
Mission and Program Overview

Mission

Raise and lend funds for community development

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$32,765,455$31,144,618▼ $1,620,837
Other Notes and Loans Receivable, Net$17,479,864$18,849,212▲ $1,369,348
Investments Program Related-$5,443,879-
Land, Buildings, and Equipment, Net$3,563,440$1,374,944▼ $2,188,496
Investments Other Securities$143,983$143,588▼ $395
Prepaid Expenses and Deferred Charges$6,933$19,277▲ $12,344
Total Assets$53,959,675$56,975,518▲ $3,015,843
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,150,697$8,992,492▼ $158,205
Other Liabilities$1,971,117$1,056,286▼ $914,831
Accounts Payable and Accrued Expenses$222,159$181,839▼ $40,320
Total Liabilities$11,343,973$10,230,617▼ $1,113,356
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$35,650,346$41,562,149▲ $5,911,803
Net Assets With Donor Restrictions$6,965,356$5,182,752▼ $1,782,604
Total Net Assets Fund Balance$42,615,702$46,744,901▲ $4,129,199
Total Liabilities and Net Assets / Fund Balance$53,959,675$56,975,518▲ $3,015,843

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$706,138$372,853$1,078,991
Buildings$458,844$186,792$645,636
Equipment$17,832$191,462$209,294
Land$192,130-$192,130
Other Land Buildings$0$15,600$15,600
Investment Program Related Org$5,443,879--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KahleyPresident & CEOFT$211,338$58,413$269,751
Karen PostTreasurer & CFOFT$186,200$69,056$255,256

Board Members and Trustees

NameTitle
R John DawesChairman
Jared GorentzVice Chairman
David MillerBoard Member
Eric MartinBoard Member
Jan DofnerBoard Member
Patricia BrennenBoard Member
James ButlerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$4,219,406
Program Service Revenue
$1,136,279
Investment Income
$183,921
Other Revenue
$50,002
All Other Contributions
$4,219,406
Change in Net Assets
$4,129,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$858,693
Other Expenses$601,716
Total Fundraising Expense$34,011
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$219,286$160,427$17,825$397,538
Other Salaries and Wages$169,075$52,795$5,866$227,736
Interest$179,434--$179,434
Pension Plan Contributions$78,156$54,874$6,097$139,127
All Other Expenses$36,725$22,576-$59,301
Fees for Services Legal$11,615$45,357-$56,972
Depreciation Depletion$37,025$14,229-$51,254
Other Employee Benefits$24,671$22,489$2,499$49,659
Payroll Taxes$27,395$15,514$1,724$44,633
Travel$24,612$12,082-$36,694
Insurance$11,954$10,669-$22,623
Office Expenses$21,211$1,177-$22,388
Fees for Services Accounting-$22,345-$22,345
Other Expenses$7,221$8,571-$15,792
Advertising$6,004$157-$6,161
Total Functional Expenses$964,633$461,765$34,011$1,460,409
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Conditional Contributions Received in Advance$1,056,286
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
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by karen post, who is the treasurer of the organization. If any questions arise, karen post contacts young, oakes, brown and co., p.c. For clarifications.

Form 990, Part VI, Section B, Line 12C

The progress fund regularly and consistently monitors and enforces compliance with the conflict of interest policy at their monthly meetings.

Form 990, Part VI, Section C, Line 19

The governing documents are made available to public upon request.

Filing and Contact Details

Filer

Filer Name
The Progress Fund
EIN
31-1598881
Phone
7242169160
Address
425 WEST PITTSBURGH STREET, GREENSBURG, PA 15601

Signing Officer

Name
David Kahley
Title
President
Phone
7242169160
Signed
2023-03-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Kahley
Formed
1998
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
7
Employees
6
Volunteers
0

Preparer

Firm
Young Oakes Brown & Company Pc
Address
1210 THIRTEENTH STREET, ALTOONA, PA 16601
Preparer
Daniel Bradley CPA
Phone
8149446191
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Raw XML AppendixShowing 400 of 562 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/PensionPlanContributionsGrp/ProgramServicesAmt078156
IRS990/PensionPlanContributionsGrp/TotalAmt0139127
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06933
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019277
IRS990/PrincipalOfficerNm0DAVID KAHLEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEES
IRS990/ProgramServiceRevenueGrp/Desc2CONSULTING FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01077536
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt158300
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2443
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01077536
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt158300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2443
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0817663
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt048845
IRS990/PYOtherExpensesAmt0670374
IRS990/PYOtherRevenueAmt063165
IRS990/PYProgramServiceRevenueAmt01685168
IRS990/PYRevenuesLessExpensesAmt01144558
IRS990/PYSalariesCompEmpBnftPaidAmt0799909
IRS990/PYTotalExpensesAmt01470283
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02614841
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt04129199
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt056134
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt01127659
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032765455
IRS990/SavingsAndTempCashInvstGrp/EOYAmt031144618
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05335865
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0817663
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt010495042
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01700191
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01441564
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt019790325
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0186408
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt048845
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt077750
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0300255
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0241584
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0854842
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01189781
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt01748333
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt01704889
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01611645
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt01319951
IRS990ScheduleA/OtherIncome170Grp/TotalAmt07574599
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.70130
IRS990ScheduleA/PublicSupportPY170Pct00.64540
IRS990ScheduleA/PublicSupportTotal170Amt019790325
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05335865
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0817663
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt010495042
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01700191
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01441564
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt019790325
IRS990ScheduleA/TotalSupportAmt028219766
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0458844
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0186792
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0645636
IRS990ScheduleD/EquipmentGrp/BookValueAmt017832
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0191462
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0209294
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt05443879
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT - THE HAZELWOOD BREWING PROJECT MANAGER,INC.
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0192130
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0192130
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0706138
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0372853
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01078991
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt015600
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015600
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01056286
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONDITIONAL CONTRIBUTIONS RECEIVED IN ADVANCE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01374944
IRS990ScheduleD/TotalBookValueProgramRltdAmt05443879
IRS990ScheduleD/TotalLiabilityAmt01056286
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0211338
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1186200
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt058413
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt169056
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10

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