Civic Intelligence

Stark Economic Development Board Inc

EIN 34-1476938 • 501(c)3 • Canton, OH

Profile

We strengthen stark county by driving business growth and leading its economic transformation.

400 3rd Street SE 310Canton, OH 44702

www.starkcoohio.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

63rd percentile

0.16x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

77th percentile

0.39x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

11th percentile

-28%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

93rd percentile

$239,012

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

59th percentile

7.3%

Faster asset growth than 59% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2025

Revenue Growth

70th percentile

22%

Faster revenue growth than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2025

Assets

Down

$4,239,277

Down $479,319 (-10%) from 2024

Liabilities

Down

$677,033

Down $2,763 (-0.4%) from 2024

Net Assets

Down

$3,562,244

Down $476,556 (-12%) from 2024

Revenue

Down

$1,728,680

Down $1,621,370 (-48%) from 2024

Expenses

Down

$2,205,236

Down $55,592 (-2.5%) from 2024

Net Income

Down

-$476,556

Down $1,565,778 (-144%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$10M$0-$10MAssets 2011: $2,286,821Liabilities 2011: $11,858,821Net Assets 2011: -$9,572,0002011Assets 2012: $2,689,559Liabilities 2012: $11,883,555Net Assets 2012: -$9,193,9962012Assets 2013: $2,302,024Liabilities 2013: -$7,602Net Assets 2013: $2,309,6262013Assets 2014: $1,449,357Liabilities 2014: $16,945Net Assets 2014: $1,432,4122014Assets 2015: $2,156,931Liabilities 2015: $15,816Net Assets 2015: $2,141,1152015Assets 2016: $1,724,244Liabilities 2016: $32,140Net Assets 2016: $1,692,1042016Assets 2017: $1,243,840Liabilities 2017: $3,663Net Assets 2017: $1,240,1772017Assets 2019: $2,535,944Liabilities 2019: $176,000Net Assets 2019: $2,359,9442019Assets 2020: $2,650,734Liabilities 2020: $183,100Net Assets 2020: $2,467,6342020Assets 2021: $4,016,090Liabilities 2021: $55,845Net Assets 2021: $3,960,2452021Assets 2022: $3,590,351Liabilities 2022: $54,112Net Assets 2022: $3,536,2392022Assets 2023: $3,682,250Liabilities 2023: $731,016Net Assets 2023: $2,951,2342023Assets 2024: $4,718,596Liabilities 2024: $679,796Net Assets 2024: $4,038,8002024Assets 2025: $4,239,277Liabilities 2025: $677,033Net Assets 2025: $3,562,2442025

Highlighted filing

2025

Assets$4,239,277
Liabilities$677,033
Net Assets$3,562,244

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,186,2402011Expenses 2012: $1,155,1462012Expenses 2013: $1,293,9112013Revenue 2014: $410,959Expenses 2014: $1,288,173Net Income 2014: -$877,2142014Revenue 2015: $1,883,752Expenses 2015: $1,175,049Net Income 2015: $708,7032015Revenue 2016: $581,531Expenses 2016: $1,030,542Net Income 2016: -$449,0112016Revenue 2017: $355,822Expenses 2017: $827,853Net Income 2017: -$472,0312017Revenue 2019: $1,258,272Expenses 2019: $978,347Net Income 2019: $279,9252019Revenue 2020: $1,710,822Expenses 2020: $1,603,132Net Income 2020: $107,6902020Revenue 2021: $2,811,607Expenses 2021: $1,318,996Net Income 2021: $1,492,6112021Revenue 2022: $872,768Expenses 2022: $1,295,041Net Income 2022: -$422,2732022Revenue 2023: $1,169,229Expenses 2023: $1,752,044Net Income 2023: -$582,8152023Revenue 2024: $3,350,050Expenses 2024: $2,260,828Net Income 2024: $1,089,2222024Revenue 2025: $1,728,680Expenses 2025: $2,205,236Net Income 2025: -$476,5562025

Highlighted filing

2025

Revenue$1,728,680
Expenses$2,205,236
Net Income-$476,556

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.24$0.68$3.56$1.73$2.21$0.48
2024Detailed filing. Detailed filing data is available for this year.$4.72$0.68$4.04$3.35$2.26$1.09
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.68$0.73$2.95$1.17$1.75$0.58
2022Detailed filing. Detailed filing data is available for this year.$3.59$0.05$3.54$0.87$1.30$0.42
2021Detailed filing. Detailed filing data is available for this year.$4.02$0.06$3.96$2.81$1.32$1.49
2020Detailed filing. Detailed filing data is available for this year.$2.65$0.18$2.47$1.71$1.60$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.54$0.18$2.36$1.26$0.98$0.28
2017Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$0.36$0.83$0.47
2016Detailed filing. Detailed filing data is available for this year.$1.72$0.03$1.69$0.58$1.03$0.45
2015Detailed filing. Detailed filing data is available for this year.$2.16$0.02$2.14$1.88$1.18$0.71
2014Detailed filing. Detailed filing data is available for this year.$1.45$0.02$1.43$0.41$1.29$0.88
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.30$0.01$2.31$1.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$11.9$9.19$1.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.29$11.9$9.57$1.19
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$1,728,680
Mission and Program Overview

Mission

We strengthen stark county by driving business growth and leading its economic transformation.

To strengthen stark county by driving business growth and leading economic transformation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,950,549$1,794,217▼ $156,332
Pledges and Grants Receivable$1,803,499$1,391,829▼ $411,670
Land, Buildings, and Equipment, Net$298,178$283,442▼ $14,736
Cash and Non-Interest-Bearing Accounts$31,400$138,143▲ $106,743
Prepaid Expenses and Deferred Charges$20,314$29,398▲ $9,084
Accounts Receivable$0$24,425▲ $24,425
Investments in Publicly Traded Securities$17,957$0▼ $17,957
Total Assets$4,718,596$4,239,277▼ $479,319
Other Assets Total$596,699$577,823▼ $18,876
Liabilities
Other Liabilities$611,914$602,087▼ $9,827
Deferred Revenue$0$38,750▲ $38,750
Accounts Payable and Accrued Expenses$53,705$26,076▼ $27,629
Mortgage Notes Payable Secured by Investment Property$14,177$10,120▼ $4,057
Total Liabilities$679,796$677,033▼ $2,763
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,555,658$1,804,820▲ $249,162
Net Assets With Donor Restrictions$2,483,142$1,757,424▼ $725,718
Total Net Assets Fund Balance$4,038,800$3,562,244▼ $476,556
Total Liabilities and Net Assets / Fund Balance$4,718,596$4,239,277▼ $479,319

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$33,562$5,351,761$5,385,323
Buildings$0$973,253$973,253
Land$225,880-$225,880
Leasehold Improvements$24,000$6,000$30,000
Other Assets Org$577,823--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ray HexamerPresident & CEOFT$160,542$78,470$239,012

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Todd J HawkeConsulting9318 PAULDING ST NW, Massillon, OH 44646$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,545,184
Program Service Revenue
$69,600
Investment Income
$73,409
Other Revenue
$40,487
All Other Contributions
$1,067,584
Change in Net Assets
$-476,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,728,680
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,728,680
Total Revenue per Form 990
$1,728,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,171,928
Other Expenses$971,208
Grants and Similar Amounts Paid$62,100
Total Fundraising Expense$58,596
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$574,494$58,021$33,290$665,805
Current Officers, Directors, Trustees, and Key Employees$221,623$25,432$13,003$260,058
Other Employee Benefits$97,148$17,926$6,056$121,130
Fees for Services Other$46,125$40,738-$86,863
Payroll Taxes$59,762$5,259$3,422$68,443
Grants to Domestic Orgs$62,100--$62,100
Pension Plan Contributions$45,307$8,360$2,825$56,492
Occupancy$32,224$6,444-$38,668
Travel$15,675$19,178-$34,853
Advertising$16,282$13,524-$29,806
Office Expenses$20,254$5,462-$25,716
Fees for Services Accounting$17,365$3,000-$20,365
Depreciation Depletion-$19,458-$19,458
Insurance$10,983$2,746-$13,729
Conferences and Meetings$5,852$561-$6,413
All Other Expenses$3,390$2,712-$6,102
Other Expenses$4,270$835-$5,105
Fees for Services Legal-$1,524-$1,524
Interest-$493-$493
Total Functional Expenses$1,891,336$255,304$58,596$2,205,236

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,205,236
Total Expenses per Audited Statements$2,205,236
Total Expenses per Form 990$2,205,236
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Team Neo FoundationCleveland, OH501(c)(3)Attract and Expand Northeast Ohio$62,100
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
Lease Liabilities$602,087
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 A, Line 2

Gerard mastroianni and doug schwarz - business relationship ryan stenger and w.j. Timken, jr. - business relationship

Form 990, Part VI, Section A, Line 6

The members of the corporation are all persons appointed or elected as directors.

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

The president and ceo reviews all questions and completes a verification to the audited financial statements.

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

Board members complete a conflict of interest questionnaire annually. Should a conflict arise, the individual is asked to abstain from voting on any issues related to the conflict.

Form 990, Part VI, Section B, Line 15

Per sedb's personnel manual, salaries are reviewed at the end of the fiscal year and are determined by the president and ceo based on budget allocations and the salary framework approved by the executive committee and board of directors. The salary for the president and ceo is approved by the executive committee.

Form 990, Part VI, Section C, Line 19

All financial statements, governing documents, and policies are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Stark Economic Development Board Inc
EIN
34-1476938
Phone
3304535900
Address
400 3RD STREET SE 310, CANTON, OH 44702

Signing Officer

Name
Stephen Mackenzie
Title
President & CEO
Phone
3304535900
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Mackenzie
Formed
1985
Legal Domicile
Oh
Voting Board Members
51
Independent Board Members
51
Employees
10
Volunteers
51

Preparer

Firm
Maloney Novotny LLC
Address
4774 MUNSON STREET NW SUITE 402, CANTON, OH 44718-3634
Preparer
Matthew J Banjo
Phone
3309669400
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Line 6

The volunteers are solely comprised of the board of directors.

Financial Statement Notes

PART X, LINE 2:

Federal income taxes stark economic development board, inc. Qualifies under section 501(c)(3) of the internal revenue code as an organization exempt from federal income tax. Sedb believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.

Raw XML AppendixShowing 400 of 839 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/OtherCompensationAmt5145500
IRS990/Form990PartVIISectionAGrp/PersonNm0WILLIAM SHIVERS
IRS990/Form990PartVIISectionAGrp/PersonNm1BRIAN BELDEN
IRS990/Form990PartVIISectionAGrp/PersonNm2JOSEPH SCHAUER
IRS990/Form990PartVIISectionAGrp/PersonNm3JAMIE SLUTZ
IRS990/Form990PartVIISectionAGrp/PersonNm4CHRIS GOFF
IRS990/Form990PartVIISectionAGrp/PersonNm5CHRIS KABOTH
IRS990/Form990PartVIISectionAGrp/PersonNm6CHRISTOPHER HUNT
IRS990/Form990PartVIISectionAGrp/PersonNm7DAVE KIRVEN
IRS990/Form990PartVIISectionAGrp/PersonNm8GREG KING
IRS990/Form990PartVIISectionAGrp/PersonNm9JACKIE STEWART
IRS990/Form990PartVIISectionAGrp/PersonNm10MATT SAVAGE
IRS990/Form990PartVIISectionAGrp/PersonNm11JOE DALEIDEN
IRS990/Form990PartVIISectionAGrp/PersonNm12JOE MATUSZEWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm13JOHN LANGELL
IRS990/Form990PartVIISectionAGrp/PersonNm14JOHN RICHARD
IRS990/Form990PartVIISectionAGrp/PersonNm15JORDAN GREENWALD
IRS990/Form990PartVIISectionAGrp/PersonNm16DOUG SIBILA
IRS990/Form990PartVIISectionAGrp/PersonNm17GERARD MASTROIANNI
IRS990/Form990PartVIISectionAGrp/PersonNm18KATHY SHULTZ
IRS990/Form990PartVIISectionAGrp/PersonNm19DOUG SCHWARZ
IRS990/Form990PartVIISectionAGrp/PersonNm20BARBARA H BENNETT
IRS990/Form990PartVIISectionAGrp/PersonNm21CHARLES HAMMONTREE
IRS990/Form990PartVIISectionAGrp/PersonNm22MATT STERLING
IRS990/Form990PartVIISectionAGrp/PersonNm23CHAD ISLER
IRS990/Form990PartVIISectionAGrp/PersonNm24SHELLY BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm25MICK HECKMAN
IRS990/Form990PartVIISectionAGrp/PersonNm26PARA JONES
IRS990/Form990PartVIISectionAGrp/PersonNm27RENATO CAMACHO
IRS990/Form990PartVIISectionAGrp/PersonNm28RICK L HULL
IRS990/Form990PartVIISectionAGrp/PersonNm29ROBERT GESSNER
IRS990/Form990PartVIISectionAGrp/PersonNm30ROBERT MULLEN
IRS990/Form990PartVIISectionAGrp/PersonNm31MARK J SAMOLCZYK
IRS990/Form990PartVIISectionAGrp/PersonNm32ANDREW GROVE
IRS990/Form990PartVIISectionAGrp/PersonNm33SANDY UPPERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm34MATT GREGORY
IRS990/Form990PartVIISectionAGrp/PersonNm35TIM COLLINS
IRS990/Form990PartVIISectionAGrp/PersonNm36TIM TIMKEN JR
IRS990/Form990PartVIISectionAGrp/PersonNm37TIMOTHY CRONE
IRS990/Form990PartVIISectionAGrp/PersonNm38TIMOTHY SEIFERT
IRS990/Form990PartVIISectionAGrp/PersonNm39TODD PUGH
IRS990/Form990PartVIISectionAGrp/PersonNm40WILLIAM SHERER II
IRS990/Form990PartVIISectionAGrp/PersonNm41ALAN HAROLD
IRS990/Form990PartVIISectionAGrp/PersonNm42MARK SCHEFFLER
IRS990/Form990PartVIISectionAGrp/PersonNm43TRACY DOWE
IRS990/Form990PartVIISectionAGrp/PersonNm44RYAN STENGER
IRS990/Form990PartVIISectionAGrp/PersonNm45ANTHONY J HEALY
IRS990/Form990PartVIISectionAGrp/PersonNm46MATT LEUENBERGER
IRS990/Form990PartVIISectionAGrp/PersonNm47ROD MOORE
IRS990/Form990PartVIISectionAGrp/PersonNm48LUCAS MURRAY
IRS990/Form990PartVIISectionAGrp/PersonNm49MARK VANDEGRIFT
IRS990/Form990PartVIISectionAGrp/PersonNm50RICHARD REGULA
IRS990/Form990PartVIISectionAGrp/PersonNm51RAY HEXAMER
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