Cumberland Area Economic Development Corporation
- Assets
- $9.3m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 18
- Location
- Mechanicsburg, PA
- Founding
- 10/2005
- Data as of
- 12/2023
- EIN
- 20-2254486
Organization Overview
Cumberland Area Economic Development Corporation is located in Mechanicsburg, PA. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Cumberland Area Economic Development Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Area Economic Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Cumberland Area Economic Development Corporation generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 4.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Cumberland Area Economic Development Corporation has awarded 150 individual grants totaling $4,301,978. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE, FACILITATE, PROMOTE AND FOSTER ECONOMIC DEVELOPMENT WITHIN CUMBERLAND COUNTY AND THE SURROUNDING REGIONS, BY PROVIDING INTEGRATED ECONOMIC DEVELOPMENT AND TOURISM MARKETING SERVICES TO, AND ON BEHALF OF, THE CITIZENS OF THE COUNTY, THE SOUTH CENTRAL PENNSYLVANIA REGION, AND THE COMMONWEALTH OF PENNSYLVANIA.
Describe the Organization's Program Activity:
TOURISM OPERATIONS SERVE TO MARKET CUMBERLAND COUNTY AS A VISITOR DESTINATION AND WORKS CLOSELY WITH SCORES OF ACTIVE LODGING ESTABLISHMENTS, OTHER ATTRACTIONS, RESTAURANTS, AND SERVICES TO PRESENT SEVERAL SPECIFIC TOURISM THEMES TO TARGET AUDIENCES IN CONSUMER, GROUP TOUR, AND SMALL MEETING MARKETS. TOURISM EFFORTS HAVE GENERATED THOUSANDS OF LEADS AS A RESULT OF DIRECT MARKETING EFFORTS AND INCREASED WEBSITE VISITATION.
ECONOMIC DEVELOPMENT EFFORTS BENEFITED THE JOB CLIMATE & ECONOMIC HEALTH OF THE CITIZENS OF CUMBERLAND COUNTY,PENNSYLVANIA THROUGH PROGRAMS, CONSULTING SERVICES, OUTREACH, FINANCING ACTIVITIES AND EDUCATIONAL WORKSHOPS. KEY INDUSTRIES TARGETED INCLUDE MANUFACTURING, LOGISTICS, AGRICULTURE, TECHNOLOGY, AND PROFESSIONAL SERVICES. SCORES OF BUSINESSES WERE SERVED ACROSS 33 MUNICIPALITIES THROUGHOUT THE COUNTY.
OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Cox Chairman | OfficerTrustee | 1 | $0 |
Jason L Reimer Vice-Chairma | OfficerTrustee | 1 | $0 |
Harold Brandt Treasurer | OfficerTrustee | 1 | $0 |
Michael Shaull Secretary | OfficerTrustee | 1 | $0 |
Kenneth Tuckey Board Member | Trustee | 1 | $0 |
Gary Eichelberger Delegate Com | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,684,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,086 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,844,886 |
| Total Program Service Revenue | $121,552 |
| Investment income | $147,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,114 |
| Net Income from Fundraising Events | $18,186 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,143,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $299,123 |
| Compensation of current officers, directors, key employees. | $54,889 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $800,782 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $103,749 |
| Payroll taxes | $81,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,559 |
| Fees for services: Accounting | $45,317 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,804 |
| Advertising and promotion | $924,601 |
| Office expenses | $230,460 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $78,341 |
| Travel | $21,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,015 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,732 |
| Insurance | $8,986 |
| All other expenses | $0 |
| Total functional expenses | $2,785,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,846,501 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $623,752 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,177,667 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,609 |
| Net Land, buildings, and equipment | $455,362 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,194,465 |
| Total assets | $9,316,356 |
| Accounts payable and accrued expenses | $172,399 |
| Grants payable | $25,537 |
| Deferred revenue | $324 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,159,745 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $486,372 |
| Total liabilities | $1,844,377 |
| Net assets without donor restrictions | $7,471,979 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,316,356 |
Grants Awarded
Over the last fiscal year, Cumberland Area Economic Development Corporation has awarded $2,814,000 in support to 94 organizations.
| Grant Recipient | Amount |
|---|---|
4035 K2LLC PURPOSE: CUMBERLAND COUNTY CH | $35,000 |
114 BRIDGE STREET INC PURPOSE: CUMBERLAND COUNTY CH | $45,000 |
A&D BROTHERS INC PURPOSE: CUMBERLAND COUNTY CH | $45,000 |
A PARTY OF 4 INC PURPOSE: CUMBERLAND COUNTY CH | $45,000 |
AARLN HOSPITALITY LLC PURPOSE: CUMBERLAND COUNTY CH | $30,000 |
ACQUERIR LLC PURPOSE: CUMBERLAND COUNTY CH | $10,000 |