Schuylkill Economic Development Corporation
- Assets
- $20.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 2
- Location
- Pottsville, PA
- Founding
- 07/1952
- Data as of
- 12/2021
- 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 12/2021, Schuylkill Economic Development Corporation employed 2 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 12/2021, Schuylkill Economic Development Corporation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $671.4k during the year ending 12/2021. While expenses have increased by 1.3% per year over the past 6 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
2021
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 | $193,856 |
Letitia Resier Asst Secretary | Officer | 40 | $66,422 |
Karen Kenderdine Chairman | Trustee | 5 | $0 |
Kirk Fanelli Treasurer | Trustee | 5 | $0 |
Christine Verdier Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $251,024 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $451,024 |
| Total Program Service Revenue | $94,814 |
| Investment income | $235,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $516,422 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $398,812 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,700,806 |
| 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. | $246,937 |
| Compensation of current officers, directors, key employees. | $136,054 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $16,722 |
| Other employee benefits | $12,546 |
| Payroll taxes | $17,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69 |
| Fees for services: Accounting | $17,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,187 |
| Fees for services: Other | $57,915 |
| Advertising and promotion | $14,290 |
| Office expenses | $10,302 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,596 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $7,995 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,975 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,420 |
| Insurance | $24,819 |
| All other expenses | $14,305 |
| Total functional expenses | $671,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $885,456 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,284 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,979,032 |
| Inventories for sale or use | $7,797,737 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $470,898 |
| Investments—publicly traded securities | $8,980,123 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,135,730 |
| Accounts payable and accrued expenses | $60,171 |
| 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 | $928,037 |
| Other liabilities | $50,903 |
| Total liabilities | $1,039,111 |
| Net assets without donor restrictions | $19,096,619 |
| 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 | $20,135,730 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
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 |