Progress Fund

Organization Overview

Progress Fund is located in Greensburg, PA. The organization was established in 1998. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Progress Fund employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Progress Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2022, Progress Fund generated $5.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

RAISE AND LEND FUNDS FOR COMMUNITY DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTE HISTORIC PRESERVATION AND COMPATIBLE COMMUNITY AND ECONOMIC REVITALIZATION BY MAKING LOANS


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Board, Officers & Key Employees

Name (title)Compensation
David Kahley
President & CEO
$211,338
Karen Post
Treasurer & CFO
$186,200
R John Dawes
Chairman
$0
James Butler
Secretary
$0
Jared Gorentz
Vice Chairman
$0
David Miller
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$4,219,406
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,219,406
Total Program Service Revenue$1,136,279
Investment income $186,409
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $56,134
Net Gain/Loss on Asset Sales -$2,488
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,589,608

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Progress Fund has recieved totaling $700,000.

Awarding OrganizationAmount
Richard King Mellon Foundation Dtd 01-01-47

Pittsburgh, PA

PURPOSE: TOWARD TWO-YEAR SUPPORT OF TOURISM BUSINESSES WITH POTENTIAL TO ACTIVATE RURAL COMMUNITIES AND CONSERVED LANDS IN THE PENNSYLVANIA WILDS

$350,000
Richard King Mellon Foundation Dtd 01-01-47

Pittsburgh, PA

PURPOSE: TOWARD TWO-YEAR SUPPORT OF TOURISM BUSINESSES WITH POTENTIAL TO ACTIVATE RURAL COMMUNITIES AND CONSERVED LANDS IN THE PENNSYLVANIA WILDS

$350,000
View Grant Recipient Profile

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