Civic Intelligence

Hagerstown-Washington County Industrial Found Inc

EIN 52-0737260 • 501(c)6 • Hagerstown, MD

Profile

Economic development within washington county, maryland with revitalization of downtown hagerstown in order to provide a better quality of life for all.

1 South Potomac StreetHagerstown, MD 21740
Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

8th percentile

0.02x

Higher debt load relative to revenue than 8% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Net Margin

96th percentile

54%

Higher net margin than 96% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

10th percentile

$90,000

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 28.9% of source-year revenue.

501(c)6 • $10M-$25M nonprofits • Source year 2025

Asset Growth

44th percentile

4.1%

Faster asset growth than 44% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

92nd percentile

46%

Faster revenue growth than 92% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$10,878,079

Up $433,041 (+4.1%) from 2024

Liabilities

Flat

$5,833

Flat from 2024

Net Assets

Up

$10,872,246

Up $433,041 (+4.1%) from 2024

Operations
Liabilities / Revenue8th percentileNet Margin96th percentile

Revenue

Up

$311,574

Up $98,429 (+46%) from 2024

Expenses

Up

$143,713

Up $4,576 (+3.3%) from 2024

Net Income

Up

$167,861

Up $93,853 (+127%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth44th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $7,108,042Liabilities 2011: $3,141Net Assets 2011: $7,104,9012011Assets 2012: $6,973,710Liabilities 2012: $729Net Assets 2012: $6,972,9812012Assets 2013: $7,009,854Liabilities 2013: $663Net Assets 2013: $7,009,1912013Assets 2014: $7,153,739Liabilities 2014: $4,108Net Assets 2014: $7,149,6312014Assets 2015: $7,954,320Liabilities 2015: $833,048Net Assets 2015: $7,121,2722015Assets 2016: $8,222,784Liabilities 2016: $1,160,930Net Assets 2016: $7,061,8542016Assets 2017: $8,053,617Liabilities 2017: $352,917Net Assets 2017: $7,700,7002017Assets 2018: $7,915,223Liabilities 2018: $352,917Net Assets 2018: $7,562,3062018Assets 2019: $8,850,827Liabilities 2019: $10,417Net Assets 2019: $8,840,4102019Assets 2020: $9,368,196Liabilities 2020: $4,167Net Assets 2020: $9,364,0292020Assets 2021: $9,938,510Liabilities 2021: $4,135Net Assets 2021: $9,934,3752021Assets 2022: $15,319,918Liabilities 2022: $5,090,785Net Assets 2022: $10,229,1332022Assets 2023: $10,047,331Liabilities 2023: $5,833Net Assets 2023: $10,041,4982023Assets 2024: $10,445,038Liabilities 2024: $5,833Net Assets 2024: $10,439,2052024Assets 2025: $10,878,079Liabilities 2025: $5,833Net Assets 2025: $10,872,2462025

Highlighted filing

2025

Assets$10,878,079
Liabilities$5,833
Net Assets$10,872,246
Open 2025 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $177,5132011Expenses 2012: $175,1252012Revenue 2013: $44,144Expenses 2013: $172,375Net Income 2013: -$128,2312013Revenue 2014: $123,080Expenses 2014: $113,005Net Income 2014: $10,0752014Revenue 2015: $134,024Expenses 2015: $101,279Net Income 2015: $32,7452015Revenue 2016: $58,719Expenses 2016: $88,762Net Income 2016: -$30,0432016Revenue 2017: $639,779Expenses 2017: $84,446Net Income 2017: $555,3332017Revenue 2018: $99,979Expenses 2018: $239,536Net Income 2018: -$139,5572018Revenue 2019: $1,400,055Expenses 2019: $100,948Net Income 2019: $1,299,1072019Revenue 2020: $507,311Expenses 2020: $106,364Net Income 2020: $400,9472020Revenue 2021: $118,522Expenses 2021: $88,728Net Income 2021: $29,7942021Revenue 2022: $554,975Expenses 2022: $123,482Net Income 2022: $431,4932022Revenue 2023: $161,794Expenses 2023: $166,296Net Income 2023: -$4,5022023Revenue 2024: $213,145Expenses 2024: $139,137Net Income 2024: $74,0082024Revenue 2025: $311,574Expenses 2025: $143,713Net Income 2025: $167,8612025

Highlighted filing

2025

Revenue$311,574
Expenses$143,713
Net Income$167,861
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$10,878,079
Liabilities
$5,833
Net assets
$10,872,246
Revenue
$311,574
Expenses
$143,713
Net income
$167,861
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$0.01$10.9$0.31$0.14$0.17
2024Detailed filing. Detailed filing data is available for this year.$10.4$0.01$10.4$0.21$0.14$0.07
2023Detailed filing. Detailed filing data is available for this year.$10.0$0.01$10.0$0.16$0.17$0.00
2022Detailed filing. Detailed filing data is available for this year.$15.3$5.09$10.2$0.55$0.12$0.43
2021Detailed filing. Detailed filing data is available for this year.$9.94$0.00$9.93$0.12$0.09$0.03
2020Summary only. Only limited summary data is available for this year.$9.37$0.00$9.36$0.51$0.11$0.40
2019Summary only. Only limited summary data is available for this year.$8.85$0.01$8.84$1.40$0.10$1.30
2018Summary only. Only limited summary data is available for this year.$7.92$0.35$7.56$0.10$0.24$0.14
2017Summary only. Only limited summary data is available for this year.$8.05$0.35$7.70$0.64$0.08$0.56
2016Summary only. Only limited summary data is available for this year.$8.22$1.16$7.06$0.06$0.09$0.03
2015Summary only. Only limited summary data is available for this year.$7.95$0.83$7.12$0.13$0.10$0.03
2014Summary only. Only limited summary data is available for this year.$7.15$0.00$7.15$0.12$0.11$0.01
2013Summary only. Only limited summary data is available for this year.$7.01$0.00$7.01$0.04$0.17$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.97$0.00$6.97$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.11$0.00$7.10$0.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Sep 12, 2025
Return Version
2024v5.2
Gross Receipts
$311,574
Mission and Program Overview

Mission

Economic development within washington county, maryland with revitalization of downtown hagerstown in order to provide a better quality of life for all.

Organizations primary exempt purpose is to develop real estate for the purpose of enhancing economic and community development for business and industrial expansion in washington county, maryland

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$5,654,725$5,655,975▲ $1,250
Investments in Publicly Traded Securities$3,395,593$3,887,557▲ $491,964
Cash and Non-Interest-Bearing Accounts$1,286,287$1,220,207▼ $66,080
Land, Buildings, and Equipment, Net$208$4,428▲ $4,220
Total Assets$10,445,038$10,878,079▲ $433,041
Other Assets Total$108,225$109,912▲ $1,687
Liabilities
Accounts Payable and Accrued Expenses$5,833$5,833→ $0
Total Liabilities$5,833$5,833→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,439,205$10,872,246▲ $433,041
Total Net Assets Fund Balance$10,439,205$10,872,246▲ $433,041
Total Liabilities and Net Assets / Fund Balance$10,445,038$10,878,079▲ $433,041

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,428$1,340$5,768
Compensation and Service Providers
Top Officer Pay10th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gregory I SnookPresident/CEOPT$90,000$90,000

Board Members and Trustees

NameTitle
Thomas C NewcomerVice President
Andrew SargentDirector
Donald L HoffmanDirector
Dr Jim KlauberDirector
James R StojakDirector
John Latimer IvDirector
John W LeagueDirector
Julie RohmDirector
Ronald Z SulchekDirector
Wayne E Alter JrDirector
James KerchevalAsst Secretary
Alfred E MartinAsst Treasurer
Andrew SerafiniSecretary
Andrew G HoffmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$265,933
Other Revenue
$45,641
Change in Net Assets
$167,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$96,952
Other Expenses$46,761
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$90,000
Insurance---$9,110
Fees for Services Accounting---$8,452
Other Expenses---$7,275
Payroll Taxes---$6,952
Occupancy---$6,000
Information Technology---$1,790
All Other Expenses---$911
Depreciation Depletion---$487
Total Functional Expenses$0$0$0$143,713
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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 B, Line 11

“Review of the form 990 is done by one or more of the board members before it is filed.”

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

“Any director of the foundation having a conflicting financial interest or other conflicting interest in the subject matter of the action under consideration by the board of directors shall a disclose the fact of the conflicting interest b refrain from any action which may have as its purpose or affect the the influencing of the vote of any other director c refrain from voting on the matter under consideration and d if requested to do so by the chairperson, or other person presiding at the meeting, be excused from the meeting during the consideration and voting on the matter.”

Form 990, Part VI, Section B, Line 15

“The executive directors salary is set and approved by the board of directors.”

Form 990, Part VI, Section C, Line 18

“The foundations form 990 is available to the public on request.”

Form 990, Part VI, Section C, Line 19

“All of the foundations governing documents are available upon a walk-in request. The foundation maintains copies of of these records and any member of the public may review them.”

Form 990, Part VII, Line 2C

“Financial statements are reviewed by the board of directors.”

Filing and Contact Details

Filer

Filer Name
Hagerstown-Washington County Industrial Found Inc
EIN
52-0737260
Phone
3017392015
Address
1 SOUTH POTOMAC STREET, HAGERSTOWN, MD 21740

Signing Officer

Name
Gregory Snook
Title
Presidentceo
Phone
3017392015
Signed
2025-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Snook
Formed
1960
Legal Domicile
Md
Voting Board Members
15
Independent Board Members
15
Employees
1

Preparer

Firm
Nyt Cpas
Address
780 FREDERICK ST, HAGERSTOWN, MD 21740
Preparer
Scott N Draper CPA Mba
Phone
3017976609
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“ROUNDING”

Financial Statement Notes

X 2

“The organization follows the fasb accounting standards codification, which provides guidance on accounting for uncertainty in income taxes recognized in an entitys financial statements. As of may 31, 2024 the organization had no uncertain tax positions that require either recognition or disclosure in the organizations financial statements.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITYS FINANCIAL STATEMENTS. AS OF MAY 31, 2024 THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE EITHER RECOGNITION OR DISCLOSURE IN THE ORGANIZATIONS FINANCIAL STATEMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW OF THE FORM 990 IS DONE BY ONE OR MORE OF THE BOARD MEMBERS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY DIRECTOR OF THE FOUNDATION HAVING A CONFLICTING FINANCIAL INTEREST OR OTHER CONFLICTING INTEREST IN THE SUBJECT MATTER OF THE ACTION UNDER CONSIDERATION BY THE BOARD OF DIRECTORS SHALL A DISCLOSE THE FACT OF THE CONFLICTING INTEREST B REFRAIN FROM ANY ACTION WHICH MAY HAVE AS ITS PURPOSE OR AFFECT THE THE INFLUENCING OF THE VOTE OF ANY OTHER DIRECTOR C REFRAIN FROM VOTING ON THE MATTER UNDER CONSIDERATION AND D IF REQUESTED TO DO SO BY THE CHAIRPERSON, OR OTHER PERSON PRESIDING AT THE MEETING, BE EXCUSED FROM THE MEETING DURING THE CONSIDERATION AND VOTING ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTORS SALARY IS SET AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATIONS FORM 990 IS AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL OF THE FOUNDATIONS GOVERNING DOCUMENTS ARE AVAILABLE UPON A WALK-IN REQUEST. THE FOUNDATION MAINTAINS COPIES OF OF THESE RECORDS AND ANY MEMBER OF THE PUBLIC MAY REVIEW THEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE REVIEWED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ROUNDING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VII, Line 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
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