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Nonprofiteer
← ECONOMIC DEVELOPMENT COMPNAY OF LANCASTER COUNTY

Form 990 for tax year 2022

Filed by ECONOMIC DEVELOPMENT COMPNAY OF LANCASTER COUNTY.

Totals

Total revenue
$1,772,058
Total expenses
$1,966,920
Contributions and grants received
$97,435
Grants paid
$0
Program service revenue
$1,615,928
Investment income
$58,695
Other revenue
$0
Total assets, end of year
$2,689,327
Total liabilities, end of year
$344,017
Net assets or fund balances, end of year
$2,345,310
Program services expenses (Part IX)
$1,642,104
Management and general expenses
$292,243
Fundraising expenses
$32,573
Program service expenses (Part III)
$1,642,104

Program services were 83.5% 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)

    $97,435

  • 2a · Program service revenue: EDC FINANCE ADMIN FEES

    total $743,340 · related or exempt $743,340

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $566,375 · related or exempt $566,375

  • 2c · Program service revenue: FEES FROM FOUNDATION

    total $163,742 · related or exempt $163,742

  • 2d · Program service revenue: PROJECT FEES

    total $56,758 · related or exempt $56,758

  • 2e · Program service revenue: SPONSORSHIPS

    total $47,000 · related or exempt $47,000

  • 2f · All other program service revenue

    total $38,713 · related or exempt $38,713

  • 3 · Investment income

    total $45,977 · excluded $45,977

  • 7a · Gross sales of assets other than inventory

    securities $548,409

  • 7b · Less cost or other basis and sales expenses

    securities $535,691

  • 7c · Gain or loss

    securities $12,718

  • 7d · Net gain or loss

    total $12,718 · excluded $12,718

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $352,033 · program services $288,603 · management and general $56,047 · fundraising $7,383

  • 7 · Other salaries and wages

    total $875,022 · program services $718,604 · management and general $138,017 · fundraising $18,401

  • 8 · Pension plan contributions

    total $90,300 · program services $73,842 · management and general $14,757 · fundraising $1,701

  • 9 · Other employee benefits

    total $56,425 · program services $46,833 · management and general $8,464 · fundraising $1,128

  • 10 · Payroll taxes

    total $87,480 · program services $72,608 · management and general $13,122 · fundraising $1,750

  • 11b · Fees: legal

    total $844 · management and general $844

  • 11c · Fees: accounting

    total $20,093 · program services $4,109 · management and general $15,885 · fundraising $99

  • 11g · Fees: other

    total $237,237 · program services $232,241 · management and general $4,984 · fundraising $12

  • 12 · Advertising and promotion

    total $2,452 · program services $2,452

  • 13 · Office expenses

    total $5,750 · program services $3,144 · management and general $2,550 · fundraising $56

  • 14 · Information technology

    total $37,334 · program services $30,451 · management and general $6,149 · fundraising $734

  • 16 · Occupancy

    total $21,216 · program services $17,735 · management and general $3,072 · fundraising $409

  • 17 · Travel

    total $3,992 · program services $3,313 · management and general $599 · fundraising $80

  • 19 · Conferences, conventions and meetings

    total $44,602 · program services $44,542 · management and general $56 · fundraising $4

  • 20 · Interest

    total $1,817 · program services $1,508 · management and general $273 · fundraising $36

  • 22 · Depreciation, depletion and amortization

    total $35,880 · program services $29,780 · management and general $5,382 · fundraising $718

  • 23 · Insurance

    total $21,426 · management and general $21,426

  • 24a · Other expenses: LONG TERM PROJECTS

    total $58,004 · program services $58,004

  • 24b · Other expenses: STAFF TRAINING

    total $7,005 · program services $6,855 · management and general $150

  • 24c · Other expenses: DUES

    total $4,710 · program services $4,710

  • 24d · Other expenses: OTHER EXPENSES

    total $3,104 · program services $2,576 · management and general $466 · fundraising $62

  • 24e · All other expenses

    total $194 · program services $194

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $997,148 · end of year $781,194

  • 4 · Accounts receivable

    beginning of year $190,082 · end of year $179,247

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,127 · end of year $15,256

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

    $89,528

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

    $61,893

  • 10c · Land, buildings and equipment, net

    beginning of year $27,789 · end of year $27,635

  • 11 · Investments: publicly traded securities

    beginning of year $1,948,419 · end of year $1,579,242

  • 15 · Other assets

    end of year $106,753

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,011 · end of year $45,938

  • 19 · Deferred revenue

    beginning of year $186,500 · end of year $188,250

  • 25 · Other liabilities

    end of year $109,829

  • 27 · Net assets without donor restrictions

    beginning of year $2,914,245 · end of year $2,345,310

  • 28 · Net assets with donor restrictions

    beginning of year $31,809

Mission and programs · 2022

Mission

ENHANCE THE ECONOMIC WELL-BEING OF LANCASTER COUNTY BY BRINGING TOGETHER BUSINESS RESOURCES, CAPITAL AND GOVERNMENT FOR SELECTIVE, MEASURABLE AND SUSTAINABLE GROWTH.

Activities or mission (Part I)

THE ORGANIZATION SEEKS TO ADVANCE LANCASTER COUNTY'S ECONOMIC DEVELOPMENT TO MORE FULLY REALIZE THE COUNTY'S POTENTIAL (GROWTH) AND SUSTAINABLY OVER TIME (PROSPERITY) TO BENEFIT THE COMMUNITY AS A WHOLE (INCLUSION). DRIVERS OF THE STRATEGIC PLAN INCLUDE LEADERSHIP, COLLABORATION, COMMUNICATION, PRIORITIZATION, RESPONSIVENESS AND MEASUREMENT. THE ORGANIZATION PROMOTES COMMUNITY AND ECONOMIC DEVELOPMENT THROUGHOUT LANCASTER COUNTY, PA BY: 1.INTENTIONALLY CULTIVATING, RETAINING AND EXPANDING INDUSTRY. 2.INFLUENCING AND/OR LEADING SYSTEMIC RESPONSES TO SPECIFIC OPPORTUNITIES AND THREATS TO ECONOMIC GROWTH AND STABILITY 3.PROVIDING AND ANALYZING ROBUST ECONOMIC INFORMATION AS A CORE FOUNDATION TO STRENGTHEN THE REGIONAL ECONOMY. 4.ALIGNING AND GROWING EDC'S COMPETENCIES, RESOURCES AND TOOLS TO REFLECT ITS STRATEGIC PRIORITIES AND TO STRENGTHEN FINANCIAL SUSTAINABILITY. 5.PROVIDING COVID-19 DRIVEN BROAD ECONOMIC RECOVERY ACTIVITY.

  • EDC PROMOTES COMMUNITY AND ECONOMIC DEVELOPMENT THROUGHOUT LANCASTER COUNTY, PA BY: 1. INTENTIONALLY CULTIVATING, RETAINING AND EXPANDING INDUSTRY 2. INFLUENCING AND/OR LEADING SYSTEMIC RESPONSES TO SPECIFIC OPPORTUNITIES AND THREATS TO ECONOMIC GROWTH AND STABILITY 3. PROVIDING AND ANALYZING ROBUST ECONOMIC INFORMATION AS A CORE FOUNDATION TO STRENGTHEN THE REGIONAL ECONOMY 4. ALIGNING AND GROWING EDC'S COMPETENCIES, RESOURCES AND TOOLS TO REFLECT STRATEGIC PRIORITIES AND TO STRENGTHEN FINANCIAL SUSTAINABILITY

    Expenses $1,642,104 · Revenue $1,598,946

As filed on the 2022 return.

Listed in Part VII

  • Lisa D Riggs

    PRESIDENT

    Total calculated
    $225,825
    From this org
    $200,907
    From related orgs
    $0
    Other
    $24,918
    Hours/week
    35.8 + 1.7 related

    Schedule J breakdown matched by us

    Base
    $165,657
    Bonus
    $35,250
    Other
    not reported
    Deferred
    $8,740
    Nontaxable benefits
    $16,178
    Filer's total
    $225,825

  • Lyle D Hosler

    VICE PRESIDE

    Total calculated
    $126,208
    From this org
    $106,158
    From related orgs
    $0
    Other
    $20,050
    Hours/week
    14.3 + 23.2 related

  • Barbara Altmann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Beard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Troy A Clair

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michael W Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Drew

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark C Fitzgerald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Herman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James R Hoehn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Robert M Krasne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Wendy Lance

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bret Lieberman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Liz Martin

    BOARD VICE C

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kendra D McGuire

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Curtis J Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anna Ramos

    EX-OFFICIO D

    Total calculated
    $0
    Hours/week
    1

  • Pedro A Rivera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michelle Rondinelli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Sauder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Valudes

    EX-OFFICIO D

    Total calculated
    $0
    Hours/week
    1

  • Steve Zuckerman

    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

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

  • EDC FINANCE CORPORATION

    501C4 · ECON DEVEL · PA

  • FOUNDATION OF ECONOMIC DEVELOPMENT COMPANY OF LANCASTER COUNTY

    501C3 · ECON DEVEL · PA

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202341669349300529

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