Pennsylvania Economy League Inc
- Assets
- $2.6m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 18
- Location
- Philadelphia, PA
- Founding
- 09/1945
- Data as of
- 12/2022
- EIN
- 23-1352264
Organization Overview
Pennsylvania Economy League Inc is located in Philadelphia, PA. The organization was established in 1945. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2022, Pennsylvania Economy League Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Economy League Inc 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 12/2022, Pennsylvania Economy League Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $3.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PENNSYLVANIA ECONOMY LEAGUE ("PEL") IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH ENTITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMY LEAGUE OF GREATER PHILADELPHIA FOSTERS EQUITABLE AND INCLUSIVE GROWTH IN GREATER PHILADELPHIA BY PRODUCING IMPACTFUL, NONPARTISAN RESEARCH, CONNECTING DIVERSE LEADERS, AND ADVANCING SHARED SOLUTIONS. THE ELGP IS OUR REGION'S INDEPENDENT THINK-AND-DO TANK, FOUNDED IN 1909 AS THE PHILADELPHIA BUREAU OF MUNICIPAL RESEARCH BY FORWARD-THINKING CIVIC LEADERS, UNITED BY THE BELIEF THAT BUSINESS HAS A CIVIC RESPONSIBILITY BEYOND PROFIT-MAKING, AND THAT IT IS THE CITIZENS BUSINESS TO ENSURE THAT LOCAL GOVERNMENT AND THE LOCAL ECONOMY WORK FOR ALL. SEE SCHEDULE O FOR CONTINUATION
THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP), ALONG WITH OUR AFFILIATED ORGANIZATIONS: ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT (ACCD OR THE CONFERENCE), PITTSBURGH REGIONAL ALLIANCE (PRA) AND GREATER PITTSBURGH CHAMBER OF COMMERCE (GPCC) - AND OUR REGIONAL INVESTOR COUNCIL PARTNERS, TOOK IMPORTANT STEPS TOWARD ACHIEVING THE VITAL, GLOBALLY COMPETITIVE REGION WE ALL WANT.SEE SCHEDULE O FOR CONTINUATION
CENTRAL PA: THE CONTINUING ISSUE OF LOCAL GOVERNMENT FINANCIAL DISTRESS REMAINED THE CENTER OF THE CENTRAL PA LLC'S RESEARCH, CIVIC LEADERSHIP EDUCATION, AND PROJECT AGENDAS DURING 2022. RISING INFLATION AND UNCERTAIN ECONOMIC REALITIES ONLY STRENGTHENED THE NEED TO FOCUS ON LOCAL GOVERNMENT FISCAL DISTRESS. SEE SCHEDULE O FOR CONTINUATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Hornstein Executive Director | OfficerTrustee | 40 | $207,302 |
David Blum Director | Trustee | 1 | $0 |
Elliot Dinkin Director | Trustee | 1 | $0 |
Keith Dorman Director (exited 07/22) | Trustee | 1 | $0 |
Peter Grollman Director | Trustee | 1 | $0 |
Stuart G Hoffman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $368,506 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,847,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,215,815 |
| Total Program Service Revenue | $1,100,650 |
| Investment income | $2,291 |
| 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 | $4,318,756 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $231,647 |
| Compensation of current officers, directors, key employees. | $37,826 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,211,550 |
| Pension plan accruals and contributions | $36,289 |
| Other employee benefits | $94,071 |
| Payroll taxes | $120,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $986 |
| Fees for services: Accounting | $163,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $543,618 |
| Advertising and promotion | $14,546 |
| Office expenses | $65,062 |
| Information technology | $28,460 |
| Royalties | $0 |
| Occupancy | $107,494 |
| Travel | $31,425 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,193 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,824 |
| Insurance | $28,385 |
| All other expenses | $48,864 |
| Total functional expenses | $3,903,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $711,322 |
| Savings and temporary cash investments | $1,085,159 |
| Pledges and grants receivable | $559,100 |
| Accounts receivable, net | $75,587 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,307 |
| Net Land, buildings, and equipment | $17,069 |
| Investments—publicly traded securities | $2,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,270 |
| Total assets | $2,565,314 |
| Accounts payable and accrued expenses | $192,773 |
| Grants payable | $0 |
| Deferred revenue | $41,776 |
| 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 | $1,684,857 |
| Total liabilities | $1,919,406 |
| Net assets without donor restrictions | -$497,730 |
| Net assets with donor restrictions | $1,143,638 |
| 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 | $2,565,314 |