2024-03-21T07:17:11-05:00 2023-12-31 251589048 YOUNG OAKES BROWN & COMPANY PC 1210 THIRTEENTH STREET ALTOONA PA 16601 990 2023-01-01 251143641 ALTOONA-BLAIR COUNTY DEVELOPMENT CORP ALTO 8149446113 3900 INDUSTRIAL PARK DRIVE ALTOONA PA 16602 STEPHEN MCKNIGHT PRESIDENT/CEO 8149446113 2024-03-21 1 STEPHEN MCKNIGHT 999009999 0 DAVID SCOTT CPA P00173721 8149446191 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z STEPHEN MCKNIGHT 3900 INDUSTRIAL PARK DRIVE ALTOONA PA 16602 6927676 0 X HTTP://WWW.ABCDCORP.ORG X 1946 PA CONTINUED FUNCTIONING AS A VECHICLE TO PROVIDE FINANCING,ETC FOR INDUSTRY AND EMPLOYMENT. 32 32 7 0 0 0 6041163 1326976 0 0 22837817 685790 4537299 3469380 33416279 5482146 0 0 0 0 819990 841015 0 0 2399 5439077 4446725 6259067 5287740 27157212 194406 122969142 122094701 88392310 88108690 34576832 33986011 TO ENSURE BLAIR COUNTY IS THE BEST AND MOST COMPETITIVE COMMUNITY IT CAN BE SO WE CAN ATTRACT AND RETAIN TALENT, INVESTMENT, AND JOB OPPORTUNITIES FOR FUTURE GENERATIONS TO COME. 0 0 4853325 4155170 CONTINUED FUNCTIONING AS A VECHICLE TO PROVIDE FINANCING,ETC. FOR INDUSTRIAL AND EMPLOYMENT EXPANSION IN THE AREA 4853325 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 32 32 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X STEPHEN MCKNIGHT - PRESIDENT & CEO 8149446113 3900 INDUSTRIAL PARK DRIVE ALTOONA PA 16602 X RON MCCONNEL CHAIRMAIN 3.00 X X 0 0 0 ANN BENZEL 1ST VICE CHAIR 3.00 X X 0 0 0 MARK RITCHEY 2ND VICE CHAIR 3.00 X X 0 0 0 MIKE SETTIMIO SECRETARY 3.00 X X 0 0 0 TROY CAMPBELL TREASURER 3.00 X X 0 0 0 JOSEPH SHEETZ ASSISTANT SECRETARY/TREASU 3.00 X X 0 0 0 DAN HOOVER ASSISTANT SECRETARY/TREASU 3.00 X X 0 0 0 PHILIP FREEMAN ASSISTANT SECRETARY/TREASU 3.00 X X 0 0 0 CLARK STAPELFELD ASSISTANT SECRETARY/TREASU 3.00 X X 0 0 0 JOSH BAKER DIRECTOR 3.00 X 0 0 0 KRIS BARONNER DIRECTOR 3.00 X 0 0 0 BOB BILGER DIRECTOR 3.00 X 0 0 0 ANDREA COHEN DIRECTOR 3.00 X 0 0 0 DEREK COUGHENOUR DIRECTOR 3.00 X 0 0 0 RON DARBEAU DIRECTOR 3.00 X 0 0 0 BRUNO DEGOL III DIRECTOR 3.00 X 0 0 0 MICHAEL DELGROSSO DIRECTOR 3.00 X 0 0 0 JOE DIAMOND DIRECTOR 3.00 X 0 0 0 BRUCE ERB DIRECTOR 3.00 X 0 0 0 RICHARD FIORE JR DIRECTOR 3.00 X 0 0 0 BRYAN FISHER DIRECTOR 3.00 X 0 0 0 JAN FISHER DIRECTOR 3.00 X 0 0 0 NICHOLAS GATES DIRECTOR 3.00 X 0 0 0 JOHN HORELL DIRECTOR 3.00 X 0 0 0 BRIAN IRWIN DIRECTOR 3.00 X 0 0 0 FRANK MONTECALVO DIRECTOR 3.00 X 0 0 0 MATT PACIFICO DIRECTOR 3.00 X 0 0 0 ERIC PALMER DIRECTOR 3.00 X 0 0 0 BO PRATT DIRECTOR 3.00 X 0 0 0 JOHN RUSSELL DIRECTOR 3.00 X 0 0 0 GEORGE SIDNEY DIRECTOR 3.00 X 0 0 0 KIRSTEN STRATTON DIRECTOR 3.00 X 0 0 0 ADAM WARD DIRECTOR 3.00 X 0 0 0 STEPHEN MCKNIGHT PRESIDENT & CEO 40.00 X 159504 0 0 TOM SEASOLTZ CHIEF FINANCIAL OFFICER 40.00 X 137434 0 0 MATTHEW FOX DIRECTOR OF BUSINESS EXPAN 40.00 X 107436 0 0 404374 0 0 3 0 1 0 0 1231892 95084 1326976 685790 685790 3845748 1445530 2400218 2400218 2400218 FEES & COST REIMBURSEMENT 525990 762492 762492 BED TAX 525990 239794 239794 MISCELLANEOUS 525990 66876 66876 1069162 5482146 4155170 0 0 841015 475594 363403 2018 42470 42470 51033 28859 22051 123 21250 21250 362793 362793 1812190 1812190 44983 25438 19437 108 PROJECT COSTS 1771913 1771913 DEVELOPMENT COSTS 231892 231892 PROFESSIONAL FEES 44370 25128 19136 106 MISCELLANEOUS 39882 39882 23949 15916 7989 44 5287740 4853325 432016 2399 17403001 16009386 16069862 18485079 10014 12747 102690097 17843217 86659069 84846880 2827196 2740609 122969142 122094701 61342 206689 9957049 10162687 85686946 84351583 -7313027 -6612269 88392310 88108690 X 11759069 9395211 22817763 24590800 34576832 33986011 122969142 122094701 194406 -785227 0 X X 0 1 X 1 1 1 X 3564655 1411086 1671216 5960668 1326976 13934601 3564655 1411086 1671216 5960668 1326976 13934601 13934601 547491 426481 419349 458582 685790 2537693 16472294 0.84590 0.85210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8908042 8908042 93389657 93389657 17458430 -17458430 392398 384787 7611 84846880 ACCRUED INTEREST -181897 INTEREST RATE SWAP AGREEMENT LIABILITY -6430372 -6612269 6142449 -785227 1445530 660303 5482146 0 5482146 6733270 1445530 1445530 5287740 0 5287740 PART XI, LINE 2D - OTHER ADJUSTMENTS: THE AMOUNT LISTED IS RENTAL INCOME RELATED TO THE RENTAL EXPENSE 1,445,530. PART XII, LINE 2D - OTHER ADJUSTMENTS: THE AMOUNT LISTED IS RENTAL EXPENSE RELATED TO THE RENTAL INCOME 1,445,530. X X X 0 0 0 0 0 0 0 0 0 STEPHEN MCKNIGHT PRESIDENT & CEO 126675 0 32829 0 0 0 0 0 0 0 159504 0 0 0 PART I, LINE 3 ABCD CORPORATION'S PRESIDENT/CEO COMPENSATION IS ESTABLISHED BY THE ADMINISTRATION AND FINANCE COMMITTEE. THE ORGANIZATION SUBSCRIBES TO A NATIONAL COMPENSATION PUBLICATION TO SET A BASELINE FOR ANNUAL SALARY. FORM 990, PART VI, SECTION A, LINE 6 ABCD CORP. IS A MEMBERSHIP ORGANIZATION CONSISTING OF TWO CLASSES: VOTING OR ACTIVE, AND NONVOTING OR ADVISORY. AN ACTIVE MEMBER IS A VOTING MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A ABCD CORP.'S BOARD OF DIRECTORS CONSISTS OF ALL VOTING MEMBERS OF THE ORGANIZATION. ABCD CORP.'S NOMINATING/BYLAWS COMMITTEE IS RESPONSIBLE FOR THE RECRUITMENT OF QUALIFIED INDIVIDUALS TO SERVE ON ABCD CORP.'S BOARD. NOMINATIONS FOR BOARD MEMBERS ARE PRESENTED TO THE FULL BOARD FOR THEIR CONSIDERATION. THE FULL BOARD THEN CONDUCTS A FORMAL ELECTION VOTE TO CHOOSE BOARD MEMBERS FOR THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE GOVERNING BODY IS THE BOARD OF DIRECTORS. AS SUCH, ALL DECISIONS OF THE GOVERNING BODY ARE APPROVED BY THE VOTING MEMBERS (I.E. THE BOARD OF DIRECTORS) OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE 990 ARE GIVEN TO EACH MEMBER OF THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND ADOPTS THE 990. THE 990 IS THEN SENT TO THE ADMIN & FINANCE COMMITTEE WHO WILL THEN REVIEW AND ADOPT THE 990. THE 990 IS THEN GIVEN TO THE EXECUTIVE COMMITTEE WHO WILL THEN REVIEW AND RECOMMEND THE 990 BE APPROVED BY THE BOARD OF DIRECTORS. THE 990 IS THEN REVIEWED AND ADOPTED BY THE BOARD OF DIRECTORS AUTHORIZING THE PRESIDENT/CEO TO SIGN AND FILE THE 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ABCD CORP. REQUIRES ALL BOARD MEMBERS TO COMPLETE AND SIGN ITS ESTABLISHED "CONFLICT OF INTEREST" POLICY. THE SIGNED DOCUMENTS ARE KEPT ON FILE AT ABCD CORP.'S OFFICES PER TERMS OF ABCD CORP.'S DOCUMENT RETENTION AND DESTRUCTION POLICY. FORM 990, PART VI, SECTION B, LINE 15 ABCD CORP.'S COMPENSATION POLICY IS ESTABLISHED USING THE FOLLOWING PARAMETERS: (1) MEETINGS WITH A PRIVATE PERSONAL/HUMAN RESOURCE CONSULTING FIRM WITH STAFF MEMBERS SPECIALIZING IN EMPLOYEE COMPENSATION AND BENEFITS, (2) A REVIEW OF AVAILABLE INDUSTRY SURVEYS FOR ECONOMIC DEVELOPMENT ORGANIZATIONS ON THE FEDERAL AND STATE LEVEL, (3) INFORMATION PROVIDED FROM MEMBERS OF ABCD CORP.'S ADMINISTRATION AND FINANCE COMMITTEE (INCLUDING DATA OBTAINED FROM THE WAGE AND BENEFIT ANALYSIS THEY HAVE COMPLETED FOR THEIR INDIVIDUAL ORGANIZATIONS). THE COMPENSATION POLICY ABCD CORP. FOLLOWS FOR ITS CEO IS USED TO ESTABLISH COMPENSATION GUIDELINES FOR ALL OF ABCD CORP.S EMPLOYEES; REGARDLESS OF THE THEIR POSITION WITHIN THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 ALTOONA-BLAIR COUNTY DEVELOPMENT CORPORATION MAKES ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IRS FORM 990 PAGE 12 PART XII LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE HAS OVERSIGHT OF THE AUDIT. ANNUALLY, A DRAFT OF THE AUDIT IS PRESENTED TO THE AUDIT COMMITTEE, WHO MAKES A RECOMMENDATION, WHICH IS THEN REVIEWED AND RATIFIED BY THE EXECUTIVE COMMITTEE. STAFF THEN PRESENTS THE AUDIT REPORT TO THE FULL BOARD FOR APPROVAL.THE ORGANIZATION'S AUDIT COMMITTEE ALSO HAS OVERSIGHT OVER THE SELECTION OF THE INDEPENDENT ACCOUNTING FIRM. THE COMMITTEE REVIEWS PROPOSALS AND MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE WHO REVIEWS AND RATIFIES. THE ORGANIZATION'S AUDIT COMMITTEE IS COMPRISED OF A SUB-SECTION OF BOARD MEMBERS WITH FINANCIAL/ACCOUNTING BACKGROUNDS.