Civic Intelligence

Mount Vernon Area Development Foundation Inc

990 • Fiscal year 2022 • EIN 31-6041648

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

Organization Profilewww.knoxadf.com
PO Box 29Mount Vernon, OH 43050

(740) 393-3806

Siviq Scores

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

Liabilities / Assets

30th percentile

0.05x

Higher debt load relative to assets than 30% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

36th percentile

0.09x

Higher debt load relative to revenue than 36% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

91st percentile

31%

Higher net margin than 91% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

35th percentile

$91,000

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 12.9% of source-year revenue.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

65th percentile

8.0%

Faster asset growth than 65% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

89th percentile

63%

Faster revenue growth than 89% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$1,436,880

Up $106,827 (+8.0%) from 2021

Net Assets

Up

$1,370,773

Up $70,643 (+5.4%) from 2021

Liabilities

Up

$66,107

Up $36,184 (+121%) from 2021

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin91st percentile

Revenue

Up

$707,783

Up $274,631 (+63%) from 2021

Expenses

Up

$487,544

Up $186,964 (+62%) from 2021

Net Income

Up

$220,239

Up $87,667 (+66%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $684,927Liabilities 2011: $6,301Net Assets 2011: $678,6262011Assets 2012: $700,062Liabilities 2012: $8,260Net Assets 2012: $691,8022012Assets 2013: $706,199Liabilities 2013: $6,507Net Assets 2013: $699,6922013Assets 2014: $726,216Liabilities 2014: $493Net Assets 2014: $725,7232014Assets 2015: $761,251Liabilities 2015: $5,632Net Assets 2015: $755,6192015Assets 2016: $806,038Liabilities 2016: $69,736Net Assets 2016: $736,3022016Assets 2018: $856,447Liabilities 2018: $6,010Net Assets 2018: $850,4372018Assets 2019: $952,771Liabilities 2019: $12,783Net Assets 2019: $939,9882019Assets 2020: $1,067,203Liabilities 2020: $4,890Net Assets 2020: $1,062,3132020Assets 2021: $1,330,053Liabilities 2021: $29,923Net Assets 2021: $1,300,1302021Assets 2022: $1,436,880Liabilities 2022: $66,107Net Assets 2022: $1,370,7732022Assets 2023: $1,514,405Liabilities 2023: $6,301Net Assets 2023: $1,508,1042023Assets 2024: $2,131,003Liabilities 2024: $7,126Net Assets 2024: $2,123,8772024

Highlighted filing

2022

Assets$1,436,880
Liabilities$66,107
Net Assets$1,370,773
Open 2022 Filing

Operations Trend

Revenue Growth89th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $108,6932011Expenses 2012: $114,3762012Revenue 2013: $133,399Expenses 2013: $114,882Net Income 2013: $18,5172013Revenue 2014: $127,602Expenses 2014: $114,111Net Income 2014: $13,4912014Revenue 2015: $169,052Expenses 2015: $135,695Net Income 2015: $33,3572015Revenue 2016: $107,935Expenses 2016: $163,152Net Income 2016: -$55,2172016Revenue 2018: $333,572Expenses 2018: $240,784Net Income 2018: $92,7882018Revenue 2019: $367,445Expenses 2019: $359,852Net Income 2019: $7,5932019Revenue 2020: $348,324Expenses 2020: $269,794Net Income 2020: $78,5302020Revenue 2021: $433,152Expenses 2021: $300,580Net Income 2021: $132,5722021Revenue 2022: $707,783Expenses 2022: $487,544Net Income 2022: $220,2392022Revenue 2023: $565,367Expenses 2023: $477,672Net Income 2023: $87,6952023Revenue 2024: $1,177,947Expenses 2024: $648,739Net Income 2024: $529,2082024

Highlighted filing

2022

Revenue$707,783
Expenses$487,544
Net Income$220,239
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$859,240
Mission and Program Overview

Mission

Promoting and assisting industrial and commercial developments in the mount vernon and knox county area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$442,969$799,933▲ $356,964
Investments in Publicly Traded Securities$695,862$571,286▼ $124,576
Cash and Non-Interest-Bearing Accounts$187,146$60,531▼ $126,615
Land, Buildings, and Equipment, Net$2,543$3,597▲ $1,054
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,330,053$1,436,880▲ $106,827
Other Assets Total$1,533$1,533→ $0
Liabilities
Grants Payable-$60,119-
Deferred Revenue$24,625--
Accounts Payable and Accrued Expenses$5,298$5,988▲ $690
Total Liabilities$29,923$66,107▲ $36,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,300,130$1,370,773▲ $70,643
Total Net Assets Fund Balance$1,300,130$1,370,773▲ $70,643
Total Liabilities and Net Assets / Fund Balance$1,330,053$1,436,880▲ $106,827

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,597$2,023$5,620
Equipment-$3,082$3,082
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey GottkePresidentFT$91,000$91,000

Board Members and Trustees

NameTitle
Adam GarnChairman
Bill BuckleyMember
Bill HannaMember
Brian HuprichMember
Darrell KickMember
Greg SandsMember
Matt WushinskeMember
Michele EnglebachMember
Bruce WhiteMember at Large
Gordon YanceMember at Large
Ryan ShoemakerMember at Large
Teresa BemillerMember at Large
Matt StarrMemebr at Large
Mark RamserTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$540,750
Program Service Revenue
$127,581
Investment Income
$17,194
Other Revenue
$22,258
All Other Contributions
$137,200
Change in Net Assets
$220,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$249,864
Other Expenses$237,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$114,800
Current Officers, Directors, Trustees, and Key Employees---$91,000
Other Employee Benefits---$26,898
Payroll Taxes---$17,166
Fees for Services Accounting---$7,203
Conferences and Meetings---$5,354
Fees for Service Investment Mgmnt Fees---$3,770
Other Expenses---$3,196
Occupancy---$2,834
Information Technology---$2,764
Office Expenses---$2,604
Depreciation Depletion---$1,756
Insurance---$1,249
All Other Expenses---$880
Fees for Services Legal---$558
Advertising---$554
Fees for Services Other---$-331
Total Functional Expenses$0$0$0$487,544
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Line 11B

“The Board members review the 990 return prior to its filing.”

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

“All Board Members are required to notify the Board of any potential conflicts before an issue comes to vote. If determined necessary, the Board Member must abstain from voting on the issue in question.”

Form 990, Part VI, Section B, Line 15B

“Executive committee performs an annual review of the executive director. Members fill out a questionaire on the executive director's performance based upon key job indicators. Results from the review are factored into compensation decisions.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Area Development Foundation Inc
EIN
31-6041648
Phone
7403933806
Address
PO BOX 29, MOUNT VERNON, OH 43050

Signing Officer

Name
Jeffrey Gottke
Title
President
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1962
Legal Domicile
Oh
Voting Board Members
19
Independent Board Members
19
Employees
10

Preparer

Firm
McDaniel CPA LLC
Address
20 W Ohio Avenue, Mount Vernon, OH 43050
Preparer
Renee Mcdaniel
Phone
7403971721
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IRS990/MembershipDuesAmt083050
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0PROMOTING AND ASSISTING INDUSTRIAL AND COMMERCIAL DEVELOPMENTS IN THE MOUNT VERNON AND KNOX COUNTY AREA.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01300130
IRS990/NetAssetsOrFundBalancesEOYAmt01370773
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-149596
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01300130
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IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0false
IRS990/OccupancyGrp/TotalAmt02834
IRS990/OfficeExpensesGrp/TotalAmt02604
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
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IRS990/OtherExpensesGrp/Desc0Facade Grant Payouts
IRS990/OtherExpensesGrp/Desc1PROFESSIONAL DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3TELEPHONE & COMMUNICATIONS
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IRS990/OtherExpensesGrp/TotalAmt121295
IRS990/OtherExpensesGrp/TotalAmt213994
IRS990/OtherExpensesGrp/TotalAmt33196
IRS990/OtherRevenueMiscGrp/Desc0ERC PAYROLL TAX CREDITS
IRS990/OtherRevenueMiscGrp/Desc1SHARED PAYROLL EXPENSE REIMB
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt022258
IRS990/OtherRevenueTotalAmt022258
IRS990/OtherSalariesAndWagesGrp/TotalAmt0114800
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt017166
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0CPDC Management
IRS990/ProgramServiceRevenueGrp/Desc1KNOX COUNTY LAND BANK MGT
IRS990/ProgramServiceRevenueGrp/Desc2REVOLVING LOAN FEE ADMIN.
IRS990/ProgramServiceRevenueGrp/Desc3Tax Incentive/Abatement
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt219456
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt37441
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0319135
IRS990/PYInvestmentIncomeAmt024113
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt067543
IRS990/PYProgramServiceRevenueAmt089904
IRS990/PYRevenuesLessExpensesAmt0132572
IRS990/PYSalariesCompEmpBnftPaidAmt0233037
IRS990/PYTotalExpensesAmt0300580
IRS990/PYTotalRevenueAmt0433152
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0220239
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03082
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03597
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02023
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05620
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03597
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board members review the 990 return prior to its filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All Board Members are required to notify the Board of any potential conflicts before an issue comes to vote. If determined necessary, the Board Member must abstain from voting on the issue in question.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Executive committee performs an annual review of the executive director. Members fill out a questionaire on the executive director's performance based upon key job indicators. Results from the review are factored into compensation decisions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01436880
IRS990/TotalAssetsGrp/BOYAmt01330053
IRS990/TotalAssetsGrp/EOYAmt01436880
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0540750
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0487544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt029923
IRS990/TotalLiabilitiesEOYAmt066107
IRS990/TotalLiabilitiesGrp/BOYAmt029923
IRS990/TotalLiabilitiesGrp/EOYAmt066107
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IRS990/TotalProgramServiceRevenueAmt0127581
IRS990/TotalReportableCompFromOrgAmt091000
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0707783
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01330053
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01436880
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,436,880
Liabilities
$66,107
Net assets
$1,370,773
Revenue
$707,783
Expenses
$487,544
Net income
$220,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.13$0.01$2.12$1.18$0.65$0.53
2023Detailed filing. Detailed filing data is available for this year.$1.51$0.01$1.51$0.57$0.48$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.44$0.07$1.37$0.71$0.49$0.22
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.03$1.30$0.43$0.30$0.13
2020Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.06$0.35$0.27$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.95$0.01$0.94$0.37$0.36$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.86$0.01$0.85$0.33$0.24$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.81$0.07$0.74$0.11$0.16$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.76$0.01$0.76$0.17$0.14$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$0.13$0.11$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.71$0.01$0.70$0.13$0.11$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.01$0.69$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.01$0.68$0.11