Form 990 for tax year 2023
Filed by SOUTH EASTERN ECONOMIC DEVELOPMENT CO OF PA.
Totals
- Total revenue
- $1,780,742
- Total expenses
- $1,671,646
- Contributions and grants received
- $0
- Grants paid
- $113,000
- Program service revenue
- $1,407,974
- Investment income
- $372,768
- Other revenue
- $0
- Total assets, end of year
- $4,236,846
- Total liabilities, end of year
- $1,220,095
- Net assets or fund balances, end of year
- $3,016,751
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $1,540,305
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: SERVICE FEES
total $997,780 · related or exempt $997,780
-
2b · Program service revenue: PROCESSING FEES
total $380,484 · related or exempt $380,484
-
2c · Program service revenue: SSBCI LOAN REVENUE
total $26,880 · related or exempt $26,880
-
2d · Program service revenue: SBA PROGRAM FEES/INTER
total $2,830 · related or exempt $2,830
-
3 · Investment income
total $372,768 · excluded $372,768
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $113,000
-
11a · Fees: management
total $1,127,885
-
11b · Fees: legal
total $4,522
-
11c · Fees: accounting
total $26,686
-
11g · Fees: other
total $159,482
-
12 · Advertising and promotion
total $60,209
-
13 · Office expenses
total $8,755
-
14 · Information technology
total $57,032
-
17 · Travel
total $9,129
-
20 · Interest
total $29,226
-
22 · Depreciation, depletion and amortization
total $1,507
-
23 · Insurance
total $7,495
-
24a · Other expenses: EDUCATION AND SEMINARS
total $29,580
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $22,804
-
24c · Other expenses: BUSINESS DEVELOPMENT
total $12,189
-
24d · Other expenses: RENT
total $2,145
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,626,922 · end of year $1,798,503
-
4 · Accounts receivable
beginning of year $146,289 · end of year $103,436
-
7 · Other notes and loans receivable
beginning of year $2,372,051 · end of year $2,235,430
-
9 · Prepaid expenses and deferred charges
beginning of year $5,705 · end of year $9,070
-
10a · Land, buildings and equipment: cost or other basis
$52,352
-
10b · Land, buildings and equipment: accumulated depreciation
$47,787
-
10c · Land, buildings and equipment, net
beginning of year $3,602 · end of year $4,565
-
15 · Other assets
beginning of year $125,741 · end of year $85,842
-
17 · Accounts payable and accrued expenses
beginning of year $205,384 · end of year $158,021
-
25 · Other liabilities
beginning of year $1,119,771 · end of year $1,062,074
-
27 · Net assets without donor restrictions
beginning of year $842,390 · end of year $865,065
-
28 · Net assets with donor restrictions
beginning of year $2,112,765 · end of year $2,151,686
Mission and programs · 2023
Mission
FOSTER THE INDUSTRIAL AND COMMERCIAL GROWTH OF SOUTHEASTERN PENNSYLVANIA BY PROVIDING FINANCING AVAILABLE THROUGH THE U.S. SMALL BUSINESS ADMINISTRATION LOAN PROGRAMS TO NEW, EXPANDED AND REHABILITATED INDUSTRIAL AND COMMERCIAL PROJECTS.
Activities or mission (Part I)
FOSTER THE INDUSTRIAL AND COMMERCIAL GROWTH OF SOUTHEASTERN PA
-
ADMINISTRATION AND PROCESSING OF SBA 504 LOAN PROGRAMS AND ASSISTANCE TO SMALL BUSINESSES IN SOUTHEASTERN PA. IN ADDITION THE ORGANIZATION PROCESSES AND SERVICES SBA 7A LOANS FOR BANKS AS A LENDER SERVICE PROVIDER.
Expenses $1,540,305 · Grants $113,000 · Revenue $1,407,974
As filed on the 2023 return.
Listed in Part VII
-
Bill StedmanBILL STEDMAN
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Michael HankinMICHAEL HANKIN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Lorraine R BernotskyLORRAINE R BERNOTSKY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Michael BrayMICHAEL BRAY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mark CohenMARK COHEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Lisa DonnonLISA DONNON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Philip EarleyPHILIP EARLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Holly GraverHOLLY GRAVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Terry GrierTERRY GRIER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Betsy NiedziejkoBETSY NIEDZIEJKO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Richard Jr StiebritzRICHARD JR STIEBRITZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jon SwearerJON SWEARER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Alyson ZarroALYSON ZARRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Bill BogleBILL BOGLE
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Edwin BrownleyEDWIN BROWNLEY
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Nancy R CorsonNANCY R CORSON
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Robert F FischerROBERT F FISCHER
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Roger HugginsROGER HUGGINS
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 0.5
-
Louis B KuppermanLOUIS B KUPPERMAN
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marian D MoskowitzMARIAN D MOSKOWITZ
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 0.5
-
Conrad M OlieCONRAD M OLIE
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim ReadingJIM READING
HONARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Craig StyerCRAIG STYER
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 0.5
-
Gary SmithGARY SMITH
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Sherwood RobbinsSHERWOOD ROBBINS
MANAGING DIRECTOR
- Total calculated
- $0
- Hours/week
- 40
-
Michael GrigalonisMICHAEL GRIGALONIS
COO/ASSISTANT DIRECTOR
- Total calculated
- $0
- Hours/week
- 8
-
Jim HammondJIM HAMMOND
VP OF FINANCE
- Total calculated
- $0
- Hours/week
- 8
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
-
ECONOMIC DEVELOPMENT IN CHESTER COUNTY, PA
-
ECONOMIC DEVELOPMENT IN LEHIGH VALLEY, PA
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.
-
CHESTER COUNTY ECONOMIC DEVELOPMENT FOUNDATION
501(C)(3) · ENGAGING IN EDUCATIONAL ACTIVITIES TO PROMOTE ECONOMIC DEVELOPMENT · PA
-
CHESTER COUNTY ECONOMIC DEVELOPMENT COUNCIL
501(C)(6) · FOSTERS ECONOMIC GROWTH IN CHESTER CO. BY PROVIDING ASSISTANCE TO BUSINESSES · PA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510769349301611
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