South Eastern Economic Development Co Of Pa
- Assets
- $4.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Exton, PA
- Founding
- 02/1984
- Data as of
- 09/2022
- EIN
- 22-2490679
Organization Overview
South Eastern Economic Development Co Of Pa is located in Exton, PA. The organization was established in 1984. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Eastern Economic Development Co Of PA is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2022, South Eastern Economic Development Co Of PA generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.4m during the year ending 09/2022. While expenses have increased by 0.2% per year over the past 7 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 2018, South Eastern Economic Development Co Of PA has awarded 12 individual grants totaling $681,000. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER THE INDUSTRIAL AND COMMERCIAL GROWTH OF SOUTHEASTERN PA
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig S Styer ESQ Chair | OfficerTrustee | 1 | $0 |
Bill Stedman Vice Chair | OfficerTrustee | 1 | $0 |
Michael Hankin Treasurer | OfficerTrustee | 1 | $0 |
R Lorraine Bernostsky Secretary | OfficerTrustee | 1 | $0 |
Michael Grigalonis Coo/assistant Director | Officer | 8 | $0 |
John Buckheit CFO | Officer | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,645,948 |
| Investment income | $5,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,651,017 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $120,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,006,456 |
| Fees for services: Legal | $2,550 |
| Fees for services: Accounting | $21,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,255 |
| Advertising and promotion | $53,274 |
| Office expenses | $5,143 |
| Information technology | $32,054 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,698 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,930 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $874 |
| Insurance | $8,959 |
| All other expenses | $0 |
| Total functional expenses | $1,438,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,497,741 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,797 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,514,402 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,636 |
| Net Land, buildings, and equipment | $2,885 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $59,099 |
| Total assets | $4,125,560 |
| Accounts payable and accrued expenses | $157,475 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $995,547 |
| Total liabilities | $1,153,022 |
| Net assets without donor restrictions | $821,877 |
| Net assets with donor restrictions | $2,150,661 |
| 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 | $4,125,560 |
Grants Awarded
Over the last fiscal year, South Eastern Economic Development Co Of Pa has awarded $120,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Exton, PA PURPOSE: ECONOMIC DEVELOPMENT IN CHESTER COUNTY, PA | $100,000 |
Bethlehem, PA PURPOSE: ECONOMIC DEVELOPMENT IN LEHIGH VALLEY, PA | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |