GIRARD AREA INDUSTRIAL DEVELOPMENT CORP

EIN: 251227432 501(c)(3) Community Improvement

GIRARD, PA

Total Revenue
$317,127
Total Expenses
$431,961
Total Assets
$719,823
Net Assets
$681,462
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1961
Legal Domicile
PA
Principal Officer
DAMON P HOMICH
Phone
8147749339
Tax Period
2025-01-01 to 2025-12-31

GIRARD AREA INDUSTRIAL DEVELOPMENT CORP, founded in 1961, is a small nonprofit in the Community Improvement sector that reported $317K in total revenue in fiscal year 2025. Expenses of $432K exceeded revenue, resulting in a 36% operating deficit.

Mission

GAIDC'S FUNCTION IS TO ENCOURAGE BUSINESS DEVELOPMENT AND JOB OPPORTUNITIES FOR THE UNEMPLOYED BY PROVIDING SMALL BUSINESSES WITH LOW COST SPACE.

Program Service Accomplishments

Program 1
Expenses: $264,315 Revenue: $297,910

GAIDC'S SOLE FUNCTION IS TO ENCOURAGE BUSINESS DEVELOPMENT AND JOB OPPORTUNITIES FOR THE UNEMPLOYED BY PROVIDING SMALL BUSINESSES WITH LOW COST SPACE IN GAIDC'S INDUSTRIAL FACILITY. GAIDC HAS BEEN...

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GAIDC'S SOLE FUNCTION IS TO ENCOURAGE BUSINESS DEVELOPMENT AND JOB OPPORTUNITIES FOR THE UNEMPLOYED BY PROVIDING SMALL BUSINESSES WITH LOW COST SPACE IN GAIDC'S INDUSTRIAL FACILITY. GAIDC HAS BEEN SUCCESSFUL IN ITS MISSION AS THERE ARE PRESENTLY MANY SMALL BUSINESSES IN THE FACILITY WHO HAVE PROVIDED A SUBSTANTIAL NUMBER OF JOBS FOR PEOPLE IN THE AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $19,212
Program Service Revenue $297,910
Investment Income $5
Other Revenue $0
TOTAL REVENUE $317,127

Expense Breakdown

Grants Paid $0
Salaries & Benefits $190,001
Fundraising Expenses $0
Program Expenses $264,315
Other Expenses $241,960
TOTAL EXPENSES $431,961

Year-over-Year Comparison

2025 2024 Change
Revenue $317,127 $333,361 0.0%
Expenses $431,961 $364,893 +0.2%
Net Income $-114,834 $-31,532 +2.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
2
Independent Members
1
Employees
7
Volunteers
1

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$74,559
Total Directors
2
$74,559
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAMON P HOMICH CHAIRMAN 46.00
Officer Director
$60,070 $14,489 $74,559
DOUGLAS B NAGLE III SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $317,127 $431,961 $719,823 $-114,834
2024 $333,361 $364,893 $821,861 $-31,532
2023 $348,856 $406,338 $867,862 $-57,482
2022 $426,161 $369,932 $918,166 $56,229
2021 $304,608 $364,430 $858,410 $-59,822
2020 $321,610 $342,213 $914,278 $-20,603
2018 $307,372 $429,203 $924,321 $-121,831
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