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Nonprofiteer
← FOUNDATION OF LANCASTER CHAMBER

Form 990 for tax year 2023

Filed by FOUNDATION OF LANCASTER CHAMBER.

Totals

Total revenue
$161,896
Total expenses
$532,491
Contributions and grants received
$129,677
Grants paid
$43,502
Program service revenue
$0
Investment income
$1,279
Other revenue
$30,940
Total assets, end of year
$12,062,642
Total liabilities, end of year
$8,544,588
Net assets or fund balances, end of year
$3,518,054
Program services expenses (Part IX)
$441,832
Management and general expenses
$16,246
Fundraising expenses
$74,413
Program service expenses (Part III)
$441,832

Program services were 83.0% 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

    $129,677

  • 3 · Investment income

    total $1,279 · excluded $1,279

  • 6a · Gross rents

    real property $124,000

  • 6b · Less rental expenses

    real property $93,060

  • 6c · Rental income or loss

    real property $30,940

  • 6d · Net rental income or loss

    total $30,940 · excluded $30,940

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $43,502 · program services $43,502

  • 11c · Fees: accounting

    total $4,348 · management and general $4,348

  • 11g · Fees: other

    total $10,000 · program services $7,800 · management and general $300 · fundraising $1,900

  • 13 · Office expenses

    total $450 · program services $351 · management and general $13 · fundraising $86

  • 22 · Depreciation, depletion and amortization

    total $409,271 · program services $325,409 · management and general $11,435 · fundraising $72,427

  • 24a · Other expenses: PROGRAM EXPENSES

    total $64,770 · program services $64,770

  • 24b · Other expenses: PA REGISTRATION

    total $150 · management and general $150

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $105,158 · end of year $45,527

  • 2 · Savings and temporary cash investments

    beginning of year $118,060 · end of year $325,509

  • 3 · Pledges and grants receivable

    beginning of year $583 · end of year $394

  • 4 · Accounts receivable

    beginning of year $8,120 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $8,223,955

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,902,175

  • 10c · Land, buildings and equipment, net

    beginning of year $5,702,970 · end of year $5,321,780

  • 11 · Investments: publicly traded securities

    beginning of year $163,059 · end of year $153,059

  • 12 · Investments: other securities

    beginning of year $6,211,373 · end of year $6,216,373

  • 17 · Accounts payable and accrued expenses

    end of year $9,209

  • 19 · Deferred revenue

    end of year $81,814

  • 23 · Secured mortgages and notes payable

    beginning of year $8,425,486 · end of year $8,453,565

  • 27 · Net assets without donor restrictions

    beginning of year $3,775,714 · end of year $3,407,429

  • 28 · Net assets with donor restrictions

    beginning of year $108,123 · end of year $110,625

Mission and programs · 2023

Mission

THE FOUNDATION OF THE LANCASTER CHAMBER IS ORGANIZAED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES INCLUDING THE DISTRIBUTION OF FUNDS FOR SUCH PURPOSES TO ORGANIZATIONS THAT QUALIFY AS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954. THE FOUNDATION PROVIDES A MECHANISM TO ESTABLISH AND FINANCE NEW COMMUNITY PROGRAMS TO MEET CRUCIAL AND CHANGING NEEDS.

Activities or mission (Part I)

PROVIDES EDUCATIONAL AND TRAINING PROGRAMS AND MEETING SPACE FOR NON-PROFITS.

  • THE FOUNDATION PROVIDES SUPPORT TO THE BUSINESS COMMUNITY THROUGH THE WORK OF THE LANCASTER CHAMBER, PROVIDING FUNDING FOR SPECIFIC TARGETED PROGRAMS. IN 2023, THE FOUNDATION'S FOCUS WAS ON WORKFORCE PRIORITIES; THE FOUNDATION PARTNERS, SUPPORTS, AND /OR LEADS OPPORTUNITIES AND SOLUTIONS TO ADDRESS WORKFORCE CHALLENGES. 142 COMMUNITY MEMBERS ENGAGED WITH ACHIEVE, A DEGREE COMPLETION PROGRAM. 52 STUDENTS ARE CONTINUING TO PURSUE DEGREE COMPLETION ACROSS 3 PARTNER INSTITUTIONS, 47 BUSINESSES JOINED OUR INSPIRE PLATFORM TO PROVIDE EXPERENTIAL LEARNING FOR STUDENTS IN GRADES K-12 THROUGHOUT OUR COUNTY AND THROUGH OUR DISCOVERING PATHS MENTORING PROGRAM THAT PAIRED 124 HIGH SCHOOL JUNIORS FROM 13 LANCASTER HIGH SCHOOLS WITH 1:1 MENTORING EXPERIENCE IN LANCASTER COUNTY. THE FOUNDATION ALSO STARTED TO HOUSE CULTIVATE! WHICH INFORMS, NAVIGATES, CONNECTS AND COORDINATES ENTREPRENEURS WITH BUSINESS RESOURCE PROVIDERS TO ACHIEVE PROSPERITY AND EQUITABLE ECONOMIC GROWTH ACROSS LANCASTER COUNTY. THE FOUNDATION ALSO BEGAN TANDEM ON 11/29/23 WHICH OFFERS PATHWAYS FOR BUSINESS SUCCESS THROUGH PROFIT SHARING AND DIRECT EMPLOYEE OWNERSHIP THAT LEADS TO SHARED PROSPERITY AND STRONGER COMMUNITIES.

    Expenses $441,832 · Grants $43,502

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donna Kresier

    CHAIR ELECT(1/23-6/23)/CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • J Seroky

    CHAIR(1/23-6/23)/PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Robert C Shoemaker

    CHAIR (UNTIL 5/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Joanne Judge

    VICE CHAIR (UNTIL 5/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Eric Wenger

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Alex Brame

    TREASURER (UNTIL 10/23)

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Joanne B Ladley

    TREASURER (UNTIL 5/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Miguel Nistal

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Kimberly Decker Esq

    SECRETARY (UNTIL 5/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Heather Valudes

    PRESIDENT/CEO

    Total calculated
    $207,612
    From this org
    $0
    From related orgs
    $172,256
    Other
    $35,356
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,256 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $12,000 related
    Deferred
    $0 + $17,762 related
    Nontaxable benefits
    $0 + $17,594 related
    Filer's total
    $0 + $207,612 related

  • Julie Houck

    DIRECTOR OF FINANCE

    Total calculated
    $93,156
    From this org
    $0
    From related orgs
    $72,473
    Other
    $20,683
    Hours/week
    1 + 36.5 related

  • Thomas Wallace

    DIRECTOR OF BUSINESS DEVELOPMENT

    Total calculated
    $117,195
    From this org
    $0
    From related orgs
    $105,017
    Other
    $12,178
    Hours/week
    1 + 36.5 related

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)

PART I, LINE 3
A RELATED ORGANIZATION, LANCASTER CHAMBER OF COMMERCE & INDUSTRY, USES A COMPENSATION COMMITTEE AND COMPENSATION SURVEYS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR.

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202443029349300504

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