Form 990 for tax year 2024
Filed by CAPITAL REGION ECONOMIC DEVELOPEMENT CORPORATION.
Totals
- Total revenue
- $991,038
- Total expenses
- $943,081
- Contributions and grants received
- $618,414
- Grants paid
- $0
- Program service revenue
- $301,304
- Investment income
- $71,320
- Other revenue
- $0
- Total assets, end of year
- $5,166,299
- Total liabilities, end of year
- $889,339
- Net assets or fund balances, end of year
- $4,276,960
- Program services expenses (Part IX)
- $614,741
- Management and general expenses
- $319,788
- Fundraising expenses
- $8,552
- Program service expenses (Part III)
- $614,741
Program services were 65.2% 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.
-
1e · Government grants (contributions)
$123,036
-
1f · All other contributions, gifts and grants
$495,378
-
2a · Program service revenue: ADMINISTRATIVE FEES
total $124,000 · related or exempt $124,000
-
2b · Program service revenue: REVOLVING LOAN INTEREST
total $78,730 · related or exempt $78,730
-
2c · Program service revenue: COMMITMENT FEES
total $73,991 · related or exempt $73,991
-
2d · Program service revenue: DIRECT FINANCING LEASE INT
total $23,588 · related or exempt $23,588
-
2e · Program service revenue: MISCELLANEOUS PROGRAM INCOME
total $995 · related or exempt $995
-
3 · Investment income
total $76,757 · excluded $76,757
-
7a · Gross sales of assets other than inventory
securities $173,615
-
7b · Less cost or other basis and sales expenses
securities $179,052
-
7c · Gain or loss
securities -$5,437
-
7d · Net gain or loss
total -$5,437 · excluded -$5,437
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $584 · management and general $584
-
11f · Fees: investment management
total $7,920 · management and general $7,920
-
11g · Fees: other
total $20,101 · program services $1,200 · management and general $18,901
-
12 · Advertising and promotion
total $11,089 · program services $11,089
-
13 · Office expenses
total $59,421 · program services $27,261 · management and general $32,123 · fundraising $37
-
14 · Information technology
total $824 · program services $450 · management and general $374
-
16 · Occupancy
total $104,671 · program services $70,150 · management and general $33,365 · fundraising $1,156
-
17 · Travel
total $5,116 · program services $3,129 · management and general $1,987
-
19 · Conferences, conventions and meetings
total $4,274 · program services $3,146 · management and general $1,128
-
20 · Interest
total $25,469 · program services $24,866 · management and general $583 · fundraising $20
-
23 · Insurance
total $15,370 · program services $4,669 · management and general $10,701
-
24a · Other expenses: CHAMBER PAYROLL EXPENSES
total $663,968 · program services $451,132 · management and general $205,711 · fundraising $7,125
-
24b · Other expenses: REPAIRS/MAINTENANCE
total $19,956 · program services $13,559 · management and general $6,183 · fundraising $214
-
24c · Other expenses: MISCELLANEOUS
total $4,318 · program services $4,090 · management and general $228
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $19,500 · end of year $20,335
-
2 · Savings and temporary cash investments
beginning of year $184,671 · end of year $117,734
-
3 · Pledges and grants receivable
beginning of year $36,436 · end of year $49,158
-
4 · Accounts receivable
beginning of year $30,833 · end of year $28,958
-
11 · Investments: publicly traded securities
beginning of year $992,509 · end of year $1,086,500
-
15 · Other assets
beginning of year $3,905,634 · end of year $3,863,614
-
17 · Accounts payable and accrued expenses
beginning of year $22,683 · end of year $20,639
-
21 · Escrow or custodial account liability
beginning of year $115 · end of year $2,343
-
23 · Secured mortgages and notes payable
beginning of year $916,499 · end of year $766,164
-
25 · Other liabilities
beginning of year $65,805 · end of year $100,193
-
29 · Capital stock, trust principal or current funds
beginning of year $330 · end of year $330
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $99,670 · end of year $99,670
-
31 · Retained earnings, endowment or other funds
beginning of year $4,064,481 · end of year $4,176,960
Mission and programs · 2024
Mission
THE MISSION OF THE CAPITAL REGION ECONOMIC DEVELOPMENT CORP. IS TO BE A CATALYST FOR POLICY CHANGE, FOR JOB CREATION AND FOR BUSINESS GROWTH IN CUMBERLAND, DAUPHIN AND PERRY COUNTIES THAT ENHANCES THE QUALITY OF LIFE IN OUR REGION.
-
TO PERFORM AND PROMOTE ECONOMIC DEVELOPMENT IN SOUTH CENTRAL PENNSYLVANIA THROUGH FINANCING AND LOAN PROGRAMS, BUILDING AND SITE LOCATION, INTERNATIONAL EXPORT OPPORTUNITIES, REGIONAL INFRASTRUCTURE AND EXISTING BUSINESS RETENTION AND EXPANSION. DURING 2024, CREDC ORIGINATED 25 PROJECTS WITH LOANS, GRANTS AND TAX CREDITS THAT RESULTED IN APPROXIMATELY 15.3 MILLION IN PRIVATE INVESTMENT, 11.4 MILLION IN PUBLIC FUNDING AND CREATED OR RETAINED 280 JOBS IN SOUTH CENTRAL PENNSYLVANIA.
Expenses $614,741 · Revenue $301,304
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ryan UngerRYAN UNGER
PRESIDENT
- Total calculated
- $196,340
- From this org
- $0
- From related orgs
- $183,936
- Other
- $12,404
- Hours/week
- 15 + 25 related
Schedule J breakdown matched by us
- Base
- not reported + $183,936 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $5,607 related
- Nontaxable benefits
- not reported + $6,797 related
- Filer's total
- not reported + $196,340 related
-
Scott RogersSCOTT ROGERS
VP, FINANCE
- Total calculated
- $138,120
- From this org
- $0
- From related orgs
- $122,027
- Other
- $16,093
- Hours/week
- 21 + 19 related
-
Melissa StoneMELISSA STONE
VP ECONOMIC
- Total calculated
- $129,119
- From this org
- $0
- From related orgs
- $115,666
- Other
- $13,453
- Hours/week
- 39 + 1 related
-
Kara Luzik CanaleKARA LUZIK CANALE
VP STRATEGY
- Total calculated
- $115,740
- From this org
- $0
- From related orgs
- $106,803
- Other
- $8,937
- Hours/week
- 3 + 37 related
-
Katie ClarkeKATIE CLARKE
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Shawn LeppoSHAWN LEPPO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Beth PeifferBETH PEIFFER
2ND VICE CHA
- Total calculated
- $0
- Hours/week
- 1
-
Jeff SmithJEFF SMITH
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Betsy HammBETSY HAMM
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Wade BeckerWADE BECKER
IMMEDIATE PA
- Total calculated
- $0
- Hours/week
- 1
-
George Book JrGEORGE BOOK JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Matthew CrockerMATTHEW CROCKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim EdwardsTIM EDWARDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George FernandezGEORGE FERNANDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andy HetrickANDY HETRICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John HickeyJOHN HICKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cheryl HowardCHERYL HOWARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Casey KhuriCASEY KHURI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brigid Landy KhuriBRIGID LANDY KHURI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John SiderJOHN SIDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brenda WatsonBRENDA WATSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott ZeevaartSCOTT ZEEVAART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Don DeeganDON DEEGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Wendy Jackson-DoweWENDY JACKSON-DOWE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Iqbal SinghIQBAL SINGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Giuseppina McCarthyGIUSEPPINA MCCARTHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Alex ReberALEX REBER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andrew BombergerANDREW BOMBERGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Art CampbellART CAMPBELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Wendy KipeWENDY KIPE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kelly NeidererKELLY NEIDERER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Hughes GablerLISA HUGHES GABLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Justin DouglasJUSTIN DOUGLAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gloria Martin - RobertsGLORIA MARTIN - ROBERTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa MyersLISA MYERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ryan RileyRYAN RILEY
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, PART III
- SCHEDULE J, PART I, LINE 3 COMPENSATION FOR THE PRESIDENT/CEO IS SET BY A RELATED ORGANIZATION, THE HARRISBURG REGIONAL CHAMBER (THE CHAMBER). THE CHAMBER USES A COMPENSATION COMMITTEE AND APPROVAL BY THE EXECUTIVE COMMITTEE WHEN SETTING THE COMPENSATION OF THE PRESIDENT/CEO.
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.
-
501C6 · MEMBERSHIP · PA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202533039349301658
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