Totals
- Total revenue
- $1,017,373
- Total expenses
- $950,774
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,003,735
- Investment income
- $13,638
- Other revenue
- $0
- Total assets, end of year
- $2,667,867
- Total liabilities, end of year
- $1,686,930
- Net assets or fund balances, end of year
- $980,937
- Program services expenses (Part IX)
- $856,347
- Management and general expenses
- $94,427
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $856,347
Program services were 90.1% 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.
-
2a · Program service revenue: LOAN ADMINISTRATION FEES
total $926,514 · related or exempt $926,514
-
2b · Program service revenue: OTHER PROGRAM RELATED REVENUE
total $77,221 · related or exempt $77,221
-
3 · Investment income
total $10,579 · excluded $10,579
-
7a · Gross sales of assets other than inventory
securities $3,251
-
7b · Less cost or other basis and sales expenses
securities $192
-
7c · Gain or loss
securities $3,059
-
7d · Net gain or loss
total $3,059 · excluded $3,059
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $41,550 · program services $41,000 · management and general $550
-
11c · Fees: accounting
total $20,953 · program services $3,227 · management and general $17,726
-
12 · Advertising and promotion
total $1,007 · program services $1,007
-
13 · Office expenses
total $2,145 · program services $1,626 · management and general $519
-
14 · Information technology
total $22,737 · program services $20,100 · management and general $2,637
-
16 · Occupancy
total $28,807 · program services $26,790 · management and general $2,017
-
17 · Travel
total $2,550 · program services $2,371 · management and general $179
-
19 · Conferences, conventions and meetings
total $580 · program services $502 · management and general $78
-
22 · Depreciation, depletion and amortization
total $564 · program services $564
-
23 · Insurance
total $18,687 · management and general $18,687
-
24a · Other expenses: LOAN ADMINISTRATION FEES
total $743,340 · program services $691,306 · management and general $52,034
-
24b · Other expenses: LOAN CONSULTANTS
total $36,000 · program services $36,000
-
24c · Other expenses: CONTRIBUTIONS, LOCAL EDCS
total $16,712 · program services $16,712
-
24d · Other expenses: TRAINING
total $7,827 · program services $7,827
-
24e · All other expenses
total $7,315 · program services $7,315
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $600,485 · end of year $2,168,109
-
4 · Accounts receivable
beginning of year $140,217 · end of year $162,067
-
9 · Prepaid expenses and deferred charges
beginning of year $3,045 · end of year $6,517
-
10a · Land, buildings and equipment: cost or other basis
$32,677
-
10b · Land, buildings and equipment: accumulated depreciation
$31,045
-
10c · Land, buildings and equipment, net
beginning of year $2,196 · end of year $1,632
-
11 · Investments: publicly traded securities
beginning of year $413,115 · end of year $329,542
-
17 · Accounts payable and accrued expenses
beginning of year $102,474 · end of year $102,310
-
25 · Other liabilities
beginning of year $55,984 · end of year $1,584,620
-
27 · Net assets without donor restrictions
beginning of year $1,000,600 · end of year $980,937
Mission and programs · 2022
Mission
TO FACILITATE THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF LANCASTER COUNTY AND ACT AS AN INDUSTRIAL DEVELOPMENT CORPORATION PURSUANT TO THE PA INDUSTRIAL DEVELOPMENT AUTHORITY ACT AND ADMINISTER FUNDS AVAILABLE UNDER THE SMALL BUSINESS FIRST FUND AND SMALL BUSINESS SBA 504 PROGRAM.
Activities or mission (Part I)
TO FACILITATE INDUSTRIAL AND ECONOMIC DEVELOPMENT THROUGH THE ADMINISTRATION OF LOANS. THE PRIMARY PURPOSE OF EDC FINANCE CORPORATION IS TO FACILITATE INDUSTRIAL AND ECONOMIC DEVELOPMENT THROUGH THE ORIGINATION AND ADMINISTRATION OF LOANS MADE BY THE PA INDUSTRIAL DEVELOPMENT AUTHORITY, THE SMALL BUSINESS FIRST FUND, AND THE SBA 504 PROGRAM. THESE LOANS ARE USED TO ASSIST IN THE START UP AND EXPANSION OF SMALL BUSINESSES IN LANCASTER COUNTY.
-
EDC FINANCE IS A LEADING PROVIDER OF ECONOMIC DEVELOPMENT FINANCING TO BUSINESSES, DEVELOPERS, AND FARMERS THROUGH RESOURCES SUCH AS SMALL BUSINESS ADMINISTRATION (SBA) 504, PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY, BUILDING PA, AND TRADITIONAL IDA TAX EXEMPT LOANS.
Expenses $856,347 · Revenue $1,003,735
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lisa D RiggsLISA D RIGGS
PRESIDENT
- Total calculated
- $222,825
- From this org
- $0
- From related orgs
- $197,907
- Other
- $24,918
- Hours/week
- 1.5 + 35.8 related
Schedule J breakdown matched by us
- Base
- not reported + $165,657 related
- Bonus
- not reported + $32,250 related
- Other
- not reported
- Deferred
- not reported + $8,740 related
- Nontaxable benefits
- not reported + $16,178 related
- Filer's total
- not reported + $222,825 related
-
Lyle D HoslerLYLE D HOSLER
VP THROUGH O
- Total calculated
- $126,208
- From this org
- $0
- From related orgs
- $106,158
- Other
- $20,050
- Hours/week
- 22.5 + 14.3 related
-
Jeffrey S BleacherJEFFREY S BLEACHER
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly J DeckerKIMBERLY J DECKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jacquelin EbyJACQUELIN EBY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Justin M EbyJUSTIN M EBY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Justin S EvansJUSTIN S EVANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jordan FarrellJORDAN FARRELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Roger M GuttridgeROGER M GUTTRIDGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brett D JacksonBRETT D JACKSON
BOARD VICE C
- Total calculated
- $0
- Hours/week
- 1
-
Mark P LaurielloMARK P LAURIELLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael P PeacheyMICHAEL P PEACHEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert C ShoemakerROBERT C SHOEMAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony H SmithTONY H SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
None.
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
The filer's explanations (Part III)
- SCHEDULE J, PAGE 1, PART I, LINE 3
- THE COMPENSATION FOR THE PRESIDENT IS SET BY A RELATED ORGANIZATION, THE ECONOMIC DEVELOPMENT COMPANY OF LANCASTER COUNTY (EDC). EDC'S BOARD APPROVES THE PRESIDENT'S SALARY.
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
No itemized grants to organizations on this return.
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.
-
ECONOMIC DEVELOPMENT COMPANY OF LANCASTER COUNTY
501C6 · ECON DEVEL · PA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202331649349301328
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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