Form 990 for tax year 2023
Filed by GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $3,035,485
- Total expenses
- $3,142,610
- Contributions and grants received
- $905,985
- Grants paid
- $71,281
- Program service revenue
- $1,981,649
- Investment income
- $24,115
- Other revenue
- $123,736
- Total assets, end of year
- $2,600,073
- Total liabilities, end of year
- $286,765
- Net assets or fund balances, end of year
- $2,313,308
- Program services expenses (Part IX)
- $2,719,594
- Management and general expenses
- $423,016
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,719,594
Program services were 86.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$261,016
-
1e · Government grants (contributions)
$592,243
-
1f · All other contributions, gifts and grants
$52,726
-
2a · Program service revenue: MANAGEMENT FEE - PAYRO
total $1,462,660 · related or exempt $1,462,660
-
2b · Program service revenue: MANAGEMENT FEE - ADMIN
total $405,984 · related or exempt $405,984
-
2c · Program service revenue: ADMIN FEES
total $113,005 · related or exempt $113,005
-
3 · Investment income
total $24,115 · excluded $24,115
-
11a · Other revenue: ERC REFUND
total $123,736 · excluded $123,736
-
11e · Other revenue, total
$123,736
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $71,281 · program services $71,281
-
5 · Compensation of officers, directors and key employees
total $323,444 · program services $278,691 · management and general $44,753
-
7 · Other salaries and wages
total $1,421,231 · program services $1,224,583 · management and general $196,648
-
8 · Pension plan contributions
total $84,624 · program services $72,915 · management and general $11,709
-
9 · Other employee benefits
total $144,764 · program services $124,734 · management and general $20,030
-
10 · Payroll taxes
total $127,217 · program services $109,615 · management and general $17,602
-
11a · Fees: management
total $59,000 · program services $59,000
-
11c · Fees: accounting
total $40,069 · program services $18,732 · management and general $21,337
-
11g · Fees: other
total $88,097 · program services $51,496 · management and general $36,601
-
12 · Advertising and promotion
total $223,462 · program services $216,608 · management and general $6,854
-
13 · Office expenses
total $23,835 · program services $19,068 · management and general $4,767
-
14 · Information technology
total $66,615 · program services $66,615
-
16 · Occupancy
total $164,209 · program services $126,954 · management and general $37,255
-
22 · Depreciation, depletion and amortization
total $16,725 · program services $16,725
-
23 · Insurance
total $85,122 · program services $68,098 · management and general $17,024
-
24a · Other expenses: COMMUNITY AND ECONOMIC
total $109,502 · program services $109,502
-
24b · Other expenses: BUSINESS ATTRACTION
total $37,301 · program services $37,301
-
24c · Other expenses: TRAINING
total $18,900 · program services $15,120 · management and general $3,780
-
24d · Other expenses: COMMUNITY EVENTS
total $16,235 · program services $16,235
-
24e · All other expenses
total $20,977 · program services $16,321 · management and general $4,656
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,579,816 · end of year $1,427,152
-
2 · Savings and temporary cash investments
beginning of year $585,524 · end of year $627,358
-
3 · Pledges and grants receivable
beginning of year $87,000 · end of year $122,552
-
4 · Accounts receivable
beginning of year $292,031 · end of year $297,355
-
9 · Prepaid expenses and deferred charges
beginning of year $86,960 · end of year $60,520
-
10a · Land, buildings and equipment: cost or other basis
$184,596
-
10b · Land, buildings and equipment: accumulated depreciation
$124,035
-
10c · Land, buildings and equipment, net
beginning of year $55,070 · end of year $60,561
-
14 · Intangible assets
beginning of year $4,575 · end of year $4,575
-
17 · Accounts payable and accrued expenses
beginning of year $46,542 · end of year $69,765
-
19 · Deferred revenue
beginning of year $224,001 · end of year $217,000
-
27 · Net assets without donor restrictions
beginning of year $2,420,433 · end of year $2,313,308
Mission and programs · 2023
Mission
TO SERVE BERKS COUNTY BUSINESSES, FOSTER ECONOMIC DEVELOPMENT AND GROWTH, AND BUSINESS SUPPORT THROUGH COMBINED MANAGEMENT AND COORDINATION OF ACTIVITIES AND RESOURCES OF GBDF AND GRCCI.
-
MANAGEMENT AND COORDINATION OF ACTIVITIES AND RESOURCES IN SUPPORT OF ECONOMIC DEVELOPMENT AND GROWTH IN BERKS COUNTY
Expenses $2,042,724 · Grants $71,281 · Revenue $1,981,649
-
TO LEAD REGIONAL EFFORTS TO ATTRACT, RETAIN, AND GROW BUSINESS AND TO MARKET BERKS COUNTY AS A COMPETITIVE AND ATTRACTIVE LOCATION FOR BUSINESS.
Expenses $676,870
As filed on the 2023 return.
Listed in Part VII
-
Daniel R LangdonDANIEL R LANGDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ernest J ChoquetteERNEST J CHOQUETTE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey R RushJEFFREY R RUSH
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Michael A DuffMICHAEL A DUFF
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Susan D LooneySUSAN D LOONEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sara StumpSARA STUMP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jamey MaackJAMEY MAACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Timothy D RomigTIMOTHY D ROMIG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Laura HaffnerLAURA HAFFNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David C RolandDAVID C ROLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John PerateJOHN PERATE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John P WeidenhammerJOHN P WEIDENHAMMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michele L RichardsMICHELE L RICHARDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Alan ShumanALAN SHUMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gregg A BogiaGREGG A BOGIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christina L WeeberCHRISTINA L WEEBER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jack GombachJACK GOMBACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David W StonesiferDAVID W STONESIFER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James W GerlachJAMES W GERLACH
CEO
- Total calculated
- $322,601
- From this org
- $304,341
- From related orgs
- $0
- Other
- $18,260
- Hours/week
- 5 + 35 related
Schedule J breakdown matched by us
- Base
- $304,341
- Bonus
- $0
- Other
- $0
- Deferred
- $18,260
- Nontaxable benefits
- $0
- Filer's total
- $322,601
-
Debra MillmanDEBRA MILLMAN
VP OF DEVELOPMENT
- Total calculated
- $187,404
- From this org
- $162,334
- From related orgs
- $0
- Other
- $25,070
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,334
- Bonus
- $0
- Other
- $0
- Deferred
- $9,740
- Nontaxable benefits
- $15,330
- Filer's total
- $187,404
-
Sara StewartSARA STEWART
CFO
- Total calculated
- $176,876
- From this org
- $160,422
- From related orgs
- $0
- Other
- $16,454
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,422
- Bonus
- $0
- Other
- $0
- Deferred
- $9,625
- Nontaxable benefits
- $6,829
- Filer's total
- $176,876
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
ADVANCEMENT
-
GREATER BERKS DEVELOPMENT FUND
$34,802
ADVANCEMENT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
BERKS COUNTY CHAMBER FOUNDATION
501(C)(3) · ADVANCEMENT · PA
-
GREATER READING CHAMBER OF COMMERCE & INDUSTRY
501(C)(6) · CHAMBER OF COMMERCE · PA
-
GREATER BERKS DEVELOPMENT FUND
501(C)(4) · ADVANCEMENT · PA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412579349300621
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