Bethlehem Economic Development Corp
- Assets
- $2.0m
- Revenue
- $626.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Bethlehem, PA
- Founding
- 02/1985
- Data as of
- 12/2021
- EIN
- 23-2211627
Organization Overview
Bethlehem Economic Development Corp is located in Bethlehem, PA. The organization was established in 1985. 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, Bethlehem Economic Development Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethlehem Economic Development Corp 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 12/2021, Bethlehem Economic Development Corp generated $626.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $682.4k during the year ending 12/2021. While expenses have increased by 1.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS INCORPORATED UNDER THE NON-PROFIT CORPORATION LAW OF THE COMMONWEALTH OF PENNSYLVANIA FOR THE FOLLOWING PURPOSE OR PURPOSES: - TO PROMOTE THE ECONOMIC DEVELOPMENT OF THE CITY OF BETHLEHEM AND PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF ALL BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS, IN THE SAID AREA, WITH AN EMPHASIS ON PROMOTING THE DEVELOPMENT OF MANUFACTURING, INDUSTRIAL, RESEARCH AND DEVELOPMENT ENTERPRISES; - TO COORDINATE A UNIFIED DOWNTOWN ORGANIZATION AND RETAIL STRATEGY; AND - TO ASSIST IN THE DEVELOPMENT OF PROJECTS, UNDERTAKINGS, STUDIES AND OTHER ACTIVITIES IN COOPERATION AND IN COORDINATION WITH FEDERAL , STATE AND LOCAL GOVERNMENTAL AND CIVIC BODIES FOR THE ELIMINATION OF SLUMS, BLIGHT AND BLIGHTING INFLUENCES, AND TO AID, ASSIST AND FOSTER THE PLANNING, REPLANNING, DEVELOPMENT, RENEWAL , REDEVELOPMENT AND IMPROVEMENT OF BUSINESS IN THE CITY OF BETHLEHEM, LEHIGH AND NORTHAMPTON COUNTIES, PENNSYLVANIA, ALL FOR THE PRIMARY PURPOSE OF COMBAT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRE, HOLD, IMPROVE, DEVELOP AND DISPOSE OF REAL PROPERTY LOCATED IN THE CITY OF BETHLEHEM AND TO ASSIST IN THE GROWTH AND DEVELOPMENT OF SMALL BUSINESS CONCERNS.
TO PROVIDE AFFORDABLE RENTAL SPACES TO SMALL BUSINESSES AND TO CONTINUE TO SERVE AND ATTRACT SMALL COMPANIES WITHIN THE TECHNOLOGY INDUSTRY TO THE CITY OF BETHLEHEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Cunningham Vice Preside | OfficerTrustee | 1 | $0 |
Luke Cunningham President | OfficerTrustee | 1 | $0 |
Eric Evans Treasurer | OfficerTrustee | 1 | $0 |
Alicia Miller Karner Executive Di | OfficerTrustee | 1 | $0 |
Robert Donchez Director | Trustee | 1 | $0 |
Ed Dougherty Director | Trustee | 1 | $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 | $623,891 |
| Investment income | $2,415 |
| 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 | $626,306 |
| 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. | $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 | $0 |
| Fees for services: Legal | $18,185 |
| Fees for services: Accounting | $2,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $323 |
| Advertising and promotion | $0 |
| Office expenses | $207 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,859 |
| Travel | $0 |
| 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 | $60,107 |
| Insurance | $0 |
| All other expenses | $21,128 |
| Total functional expenses | $682,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $871,566 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $251,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $285,130 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $572,046 |
| Total assets | $1,979,992 |
| Accounts payable and accrued expenses | $0 |
| 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 | $794,874 |
| Other liabilities | $154,708 |
| Total liabilities | $949,582 |
| Net assets without donor restrictions | $1,030,410 |
| 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 | $1,979,992 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bethlehem Economic Development Corp has recieved totaling $295,000.
| Awarding Organization | Amount |
|---|---|
Lehigh University Bethlehem, PA | | $295,000 |
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 |