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← LEHIGH VALLEY ECONOMIC INVESTMENT CORPORATION

Form 990 for tax year 2024

Filed by LEHIGH VALLEY ECONOMIC INVESTMENT CORPORATION.

Totals

Total revenue
$184,405
Total expenses
$89,178
Contributions and grants received
$27,000
Grants paid
$0
Program service revenue
$80,886
Investment income
$76,519
Other revenue
$0
Total assets, end of year
$1,704,717
Total liabilities, end of year
$574,171
Net assets or fund balances, end of year
$1,130,546
Program services expenses (Part IX)
$72,214
Management and general expenses
$16,964
Fundraising expenses
$0
Program service expenses (Part III)
$72,214

Program services were 81.0% 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.

  • 1f · All other contributions, gifts and grants

    $27,000

  • 2a · Program service revenue: PIDA INCENTIVE PAYMENT

    total $52,150 · related or exempt $52,150

  • 2b · Program service revenue: SERVICE/APPLICATION FE

    total $17,423 · related or exempt $17,423

  • 2c · Program service revenue: LOAN MAINTENANCE FEES

    total $11,313 · related or exempt $11,313

  • 3 · Investment income

    total $76,519 · excluded $76,519

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $45,000 · program services $36,658 · management and general $8,342

  • 11b · Fees: legal

    total $75 · management and general $75

  • 11c · Fees: accounting

    total $6,300 · management and general $6,300

  • 11g · Fees: other

    total $35,343 · program services $34,786 · management and general $557

  • 23 · Insurance

    total $1,690 · management and general $1,690

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $770 · program services $770

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,113,005 · end of year $1,156,935

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,045 · end of year $1,075

  • 15 · Other assets

    beginning of year $520,733 · end of year $546,707

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,568 · end of year $291

  • 24 · Unsecured notes and loans payable

    beginning of year $419,104 · end of year $397,088

  • 25 · Other liabilities

    beginning of year $176,792 · end of year $176,792

  • 27 · Net assets without donor restrictions

    beginning of year $1,035,319 · end of year $1,130,546

Mission and programs · 2024

Mission

LEHIGH VALLEY ECONOMIC INVESTMENT CORPORATION FUNCTIONS TO FINANCE THE EXPANSION AND RELOCATION OF BUSINESS WITHIN LEHIGH AND NORTHAMPTON COUNTIES BY ACTING AS AN INTERMEDIARY BETWEEN EQUITABLE OWNERS AND FINANCIAL INSTITUTIONS AND/OR CERTAIN PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING PROGRAMS AND/OR RELATED ENTITIES INCLUDING, BUT NOT LIMITED TO, THE PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY AND THE SMALL BUSINESS FIRST FUND.

Activities or mission (Part I)

AN ECONOMIC DEVELOPMENT AGENCY CERTIFIED THROUGH THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT AND FUNCTIONS TO FINANCE THE EXPANSION AND/OR RELOCATION OF BUSINESSES WITHIN LEHIGH AND NORTHAMPTON COUNTIES BY ACTING AS AN INTERMEDIARY BETWEEN EQUITABLE OWNERS, FINANCIAL INSTITUTIONS AND/OR THE COMMONWEALTH OF PENNSYLVANIA.

  • ACTS AS AN INTERMEDIARY TO HELP FINANCE THE EXPANSION AND RELOCATION OF BUSINESSES WITHIN LEHIGH AND NORTHAMPTON COUNTIES IN PENNSYLVANIA.

    Expenses $72,214 · Revenue $80,886

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher J Brown

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Chris Persichetti

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Joshua Grice

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Keith Bachman

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Tara Silfies

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Brian Cook

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Donald T Cunningham Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Bloys

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Kupres

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Mineo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Abigail Martin

    2ND VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
24 June 2025
IRS schema version
2024v5.1
Source object
202502889349302765

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