Delaware Valley Regional Economic Development Fund
- Assets
- $33.4m
- Revenue
- $1.5m
- Investments
- $10.6m
- Employees
- 1
- Location
- Philadelphia, PA
- Founding
- 06/1997
- Data as of
- 06/2021
- EIN
- 23-2801099
Organization Overview
Delaware Valley Regional Economic Development Fund is located in Philadelphia, PA. The organization was established in 1997. 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. Delaware Valley Regional Economic Development Fund 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 06/2021, Delaware Valley Regional Economic Development Fund generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $717.1k during the year ending 06/2021. While expenses have increased by 12.9% 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.
Since 2020, Delaware Valley Regional Economic Development Fund has awarded 12 individual grants totaling $2,520,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE SOUTHEASTERN PENNSYLVANIA BY PROMOTING ECONOMIC DEVELOPMENT WITH JOB IMPACT, ASSISTING AREA ENTITIES TO SECURE NECESSARY CAPITAL TO GROW AND PROSPER, AND SUPPORTING AND PROMOTING TOURISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DVREDF PROVIDES LOANS TO SUPPORT ECONOMIC GROWTH THROUGH PROJECTS AND TOURISM BY SUPPORTING ORGANIZATIONS AND ENTITIES IN SOUTHEASTERN PENNSYLVANIA WHICH CREATE JOB IMPACT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Coffman Executive Director | Officer | 40 | $98,680 |
Thomas J Ellis Chairman | OfficerTrustee | 10 | $0 |
Anthony Disandro Treasurer | OfficerTrustee | 5 | $0 |
Gaetano Piccirilli Secretary | OfficerTrustee | 3 | $0 |
Sean Schafer Member | Trustee | 3 | $0 |
Albert Mezzaroba Member | Trustee | 3 | $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 | $83,611 |
| Investment income | $183,676 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,188,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,486,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $95,025 |
| Compensation of current officers, directors, key employees. | $23,756 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,472 |
| Fees for services: Management | $167,806 |
| Fees for services: Legal | $239,307 |
| Fees for services: Accounting | $42,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,162 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,128 |
| Office expenses | $11,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,571 |
| 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 | $0 |
| Insurance | $25,199 |
| All other expenses | $0 |
| Total functional expenses | $717,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,229,740 |
| 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 | $610,657 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,189 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,975,183 |
| Investments—other securities | $10,563,180 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,469 |
| Total assets | $33,395,418 |
| Accounts payable and accrued expenses | $61,579 |
| 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 | $0 |
| Total liabilities | $61,579 |
| Net assets without donor restrictions | $27,431,280 |
| Net assets with donor restrictions | $5,902,559 |
| 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 | $33,395,418 |
Grants Awarded
Over the last fiscal year, Delaware Valley Regional Economic Development Fund has awarded $2,520,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MONTGOMERY COUNTY PURPOSE: MONTCO STRONG SMALL BUSINESS SUPPORT GRANT PROGRAM | $250,000 |
Philadelphia, PA PURPOSE: PHL COVID-10 FUND | $250,000 |
West Chester, PA PURPOSE: SUPPORT TO STRENGTHEN LOCAL SMALL BUSINESSES IMPACTED BY COVID-19 | $250,000 |
BUCKS COUNTY PURPOSE: SUPPORT TO STRENGTHEN LOCAL SMALL BUSINESSES IMPACTED BY COVID-19 | $250,000 |
BUCKS COUNTY PURPOSE: SUPPORT TO STRENGTHEN LOCAL SMALL BUSINESSES IMPACTED BY COVID-19 | $250,000 |
DELAWARE COUNTY PURPOSE: DELCO STRONG SMALL BUSINESS SUPPORT GRANT PROGRAM | $250,000 |
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 |