Progress Fund in Greensburg, Pennsylvania (PA)

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Progress Fund
Employer Identification Number (EIN)311598881
Name of OrganizationProgress Fund
In Care of NameDavid Kahley
Address425 W Pittsburgh St, Greensburg, PA 15601-2211
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Area development, redevelopment of renewal
SubsectionCharitable Organization
Ruling Date10/1998
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$31,746,774
Amount of Income$2,818,935
Form 990 Revenue Amount$2,818,935
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Rural Development


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Amount of income in 2012: $2,818,935 (it was $4,144,285 in 2011)
Progress Fund: 

 $2,818,935
Other organizations performing similar types of work: 

 $462,991

Assets in 2012: $31,746,774 (it was $30,032,278 in 2011)
Progress Fund: 

 $31,746,774
Other organizations performing similar types of work: 

 $1,176,123

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$4,144,285
Contributions, Gifts, Grants and Other Similar Amounts$3,149,304
Program Service Revenue$881,011
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$88,167
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$17,765
Gross rents (Real / Personal)$17,765 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$17,765 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$8,038
Statement of Functional Expenses (for 2011)
Total functional expenses$1,585,147
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$511,503
Payroll taxes$41,802
Professional fundraising services$0
Other$1,031,842
Balance Sheet (for 2011)
Total assets$30,032,278
Total liabilities$14,912,997
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$14,259,770
Unsecured notes and loans payable to unrelated third parties$0
Other$653,227
Total net assets or fund balances$15,119,281
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$10,276,010
Gifts, grants, contributions, and membership fees received$9,729,374
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$546,636
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Southeast Kentucky Economic Development Corporation Inc2292 S Highway 27 Ste 340, Somerset, KY 42501-2905KY1986-09$1,967,528
2Meigs County Community Improvement Corporation238 W Main St, Pomeroy, OH 45769-1287OH1997-04$756,994
3Pathstone Corporation400 East Ave, Rochester, NY 14607-1910NY1982-09$35,633,050
4Hoosier Uplands Economic Development Corporation500 W Main St, Mitchell, IN 47446-1411IN1972-12$27,205,437
5Adams And Brown Counties Economic Opportunities Inc406 W Plum St, Georgetown, OH 45121-1056OH1965-06$12,978,799
6East Central Kansas Economic Opportunity Corp1320 S Ash St, Ottawa, KS 66067-3419KS1967-10$12,141,820
7Black River Area Development Corporation1403 Hospital Dr, Pocahontas, AR 72455-3847AR1966-01$6,790,473
8Mountain Association For Community433 Chestnut St, Berea, KY 40403-1510KY1977-03$6,318,874
9Missouri Incutech Foundation900 Innovation Dr Ste 300, Rolla, MO 65401-2993MO1985-07$4,470,197
10Pride Community Services IncPO BOX 1346, Logan, WV 25601-1346WV1965-04$4,058,966
11Central Oklahoma Economic Development District400 N Bell Ave, Shawnee, OK 74801-6924OK1976-12$4,037,338
12Greater Easton Development Partnership158 Northampton St Ste B, Easton, PA 18042-3700PA1993-04$2,900,541
13Progress Fund425 W Pittsburgh St, Greensburg, PA 15601-2211PA1998-10$2,818,935
14Hilltown Community Development387 Main Road, Chesterfield, MA 01012MA1992-03$2,394,250
15Appalachian Center For Economic Networks Inc, Acenet94 Columbus Rd, Athens, OH 45701-1312OH1986-02$2,297,007
16Orange County Rural Development2 S Montgomery St, Walden, NY 12586-1121NY1985-08$1,839,245
17Kentucky Mountain Housing Development Corporation IncPO BOX 729, Manchester, KY 40962-0729KY1976-01$1,683,320
18Corporacion De Desarrollo Y Fomento Economico De Las Piedras C DPO BOX 790, Las Piedrasinternational1991-10$1,617,855
19Northwest California Resource Conservation & Development CouncilPO BOX 2183, Weaverville, CA 96093-2183CA1997-03$1,370,185
20Partnership For Rural Industrial Development EnterprisesPO BOX 48, Somerset, PA 15501-0048PA1996-11$1,650
Number of organizations performing similar types of work
Alabama2
Arkansas4
Arizona1
California3
Colorado1
District of Columbia1
Florida1
Georgia1
Iowa1
Illinois2
Indiana2
Kansas4
Kentucky12
Louisiana2
Massachusetts1
Maine3
Minnesota3
Missouri3
Mississippi2
Montana1
North Carolina3
North Dakota3
Nebraska1
New Mexico3
New York14
Ohio7
Oklahoma2
Pennsylvania4
South Dakota2
Tennessee2
Texas3
Utah1
Virginia3
Vermont1
Washington1
Wisconsin5
West Virginia5
International1
Total111

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