Schuylkill Economic Development Corporation
- Assets
- $20.0m
- Revenue
- $639.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Pottsville, PA
- Founding
- 07/1952
- Data as of
- 12/2023
- EIN
- 23-1412034
Organization Overview
Schuylkill Economic Development Corporation is located in Pottsville, PA. The organization was established in 1952. 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, Schuylkill Economic Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schuylkill Economic Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Schuylkill Economic Development Corporation generated $639.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $892.1k during the year ending 12/2023. While expenses have increased by 4.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTED INDUSTRIAL DEVELOPMENT IN SCHUYLKILL COUNTY, PA THROUGH LAND DEVELOPMENT, CONTRUCTION OF SHELL BUILDINGS, LOW-INTEREST LOANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEDCO PROVIDED ADMINISTRATIVE SERVICES TO THE GREATER TAMAQUA INDUSTRIAL DEVELOPMENT ENTERPRISE AND THE SCHUYLKILL COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY. IN ADDITION, SEDCO CHARGES A SERVICE FEE TO COMPANIES WHO UTILIZE THE PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY LOAN PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Zukas President & CEO | Officer | 40 | $204,418 |
Mark Minning Economic Development Manager | 0 | $72,052 | |
Letitia Resier Asst Secretary | Officer | 40 | $70,454 |
Karen Kenderdine Past Chair | Trustee | 5 | $0 |
Christine Verdier Vice Chair | Trustee | 5 | $0 |
Kirk Fanelli Secretary | Trustee | 5 | $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 | $327,331 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $327,331 |
| Total Program Service Revenue | $65,491 |
| Investment income | $252,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,486 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $639,525 |
| 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. | $201,820 |
| Compensation of current officers, directors, key employees. | $96,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,507 |
| Pension plan accruals and contributions | $22,361 |
| Other employee benefits | $27,328 |
| Payroll taxes | $24,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,824 |
| Fees for services: Accounting | $7,274 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,790 |
| Fees for services: Other | $69,938 |
| Advertising and promotion | $18,610 |
| Office expenses | $8,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,066 |
| Travel | $12,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,200 |
| Insurance | $16,787 |
| All other expenses | $25,585 |
| Total functional expenses | $892,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $308,560 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,635 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,660,191 |
| Inventories for sale or use | $8,914,441 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $427,959 |
| Investments—publicly traded securities | $8,620,739 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,000 |
| Total assets | $19,995,725 |
| Accounts payable and accrued expenses | $104,394 |
| 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 | $911,167 |
| Other liabilities | $727,888 |
| Total liabilities | $1,743,449 |
| Net assets without donor restrictions | $18,252,276 |
| 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 | $19,995,725 |