Team Pennsylvania Foundation
- Assets
- $10.3m
- Revenue
- $4.7m
- Investments
- $189.4k
- Employees
- 10
- Location
- Harrisburg, PA
- Founding
- 08/1998
- Data as of
- 06/2023
- EIN
- 23-2876177
Organization Overview
Team Pennsylvania Foundation is located in Harrisburg, PA. The organization was established in 1998. 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 06/2023, Team Pennsylvania Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Pennsylvania Foundation 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 06/2023, Team Pennsylvania Foundation generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 8.0% 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
ACCELERATING PENNSYLVANIA'S ECONOMIC GROWTH THROUGH PUBLIC-PRIVATE PARTNERSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOURISM AND ECONOMIC DEVELOPMENT PROGRAMSIN PARTNERSHIP WITH DCED, TEAM PENNSYLVANIA MANAGES SEVERAL PROGRAMS THAT PROMOTE TOURISM AND ECONOMIC DEVELOPMENT. PROGRAMS THAT SUPPORT TOURISM INCLUDE A CREATIVE PRODUCTION FOR A SEASONAL TOURISM CAMPAIGN, A GOVERNMENT-TO-BUSINESS CAMPAIGN THAT INCLUDES A CREATIVE PRODUCTION FOCUSED ON PRIORITY INDUSTRIES, AND A SITE SELECTOR PROGRAM THAT INCLUDES STRATEGIC SPONSORSHIPS AND METRO MISSIONS. PROGRAMS THAT SUPPORT ECONOMIC DEVELOPMENT PROVIDE SUPPORT FOR MARKETING, TECHNICAL ASSISTANCE, CONSULTING ENGAGEMENTS, COLLATERAL MATERIAL DEVELOPMENT, TRADE SHOWS AND OTHER ACTIVITIES.
DECARBONIZATION NETWORK OF APPALACHIA (DNA) HYDROGEN HUBTEAM PENNSYLVANIA JOINED INDUSTRY PARTNERS TO ESTABLISH THE DECARBONIZATION NETWORK OF APPALACHIA HYDROGEN HUB (DNA H2HUB). THE DNA H2 HUB REPRESENTS A COLLECTIVE VISION FOR EMISSIONS REDUCTION AND ECONOMIC REVITALIZATION DRIVEN BY INCREASED GDP, THE CREATION OF NEW FAMILY-SUSTAINING JOBS, AND NEW BUSINESS OPPORTUNITIES FOR LOCAL SUPPLY CHAINS. TEAM PENNSYLVANIA SERVES AS THE PRIMARY APPLICANT FOR FUNDING FROM THE U.S. DEPARTMENT OF ENERGY TO ESTABLISH THIS HUB IN THE TRI-STATE AREA OF PENNSYLVANIA, WEST VIRGINIA, AND OHIO.
POLICY ACTIVITIES: CROSS-SECTOR COLLABORATION AND COMPETITIVENESSTEAM PENNSYLVANIA'S WORK IS FOCUSED ON KEY HIGH-GROWTH ECONOMIC OPPORTUNITIES FOR PENNSYLVANIA IN AGRICULTURE, ENERGY, AND MANUFACTURING. IN EACH AREA, TEAM PENNSYLVANIA CONVENES CROSS-SECTOR COLLABORATIVES THAT BRING TOGETHER LEADERS FROM INDUSTRY, GOVERNMENT, ORGANIZED LABOR, NONPROFITS, AND ACADEMIA TO CREATE THE CONDITIONS FOR INNOVATIVE, TECHNOLOGICAL, AND MARKET-DRIVEN SOLUTIONS. THESE NETWORKS ARE DESIGNED TO MOBILIZE AND SUSTAIN THE LONG-TERM, PUBLIC-PRIVATE COMMITMENT NEEDED TO REALIZE THE ECONOMIC OPPORTUNITIES IN THESE HIGH-GROWTH SECTORS IN THE COMMONWEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Jackson Co-Chair | OfficerTrustee | 1 | $0 |
Hon Josh Shapiro Co-Chair Effective 1/2023 | OfficerTrustee | 1 | $0 |
Hon Tom Wolf Co-Chair Until 1/2023 | OfficerTrustee | 1 | $0 |
Edwin Hill Jr Secretary Effective 6/2023 | OfficerTrustee | 1 | $0 |
Stephen S Tang Secretary Until 6/2023 | OfficerTrustee | 1 | $0 |
Tiffany Wilson Treasurer Effective 6/2023 | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Red House Communications Consulting Services | 6/29/23 | $818,780 |
Center For Regional Economic Competitive Consulting Services | 6/29/23 | $184,599 |
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 | $1,199,637 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,199,637 |
| Total Program Service Revenue | $2,465,697 |
| Investment income | $219,876 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $787,808 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,748,033 |
| 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. | $163,643 |
| Compensation of current officers, directors, key employees. | $42,432 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $489,765 |
| Pension plan accruals and contributions | $11,582 |
| Other employee benefits | $42,339 |
| Payroll taxes | $50,491 |
| Fees for services: Management | $46,575 |
| Fees for services: Legal | $18,989 |
| Fees for services: Accounting | $19,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,974 |
| Fees for services: Other | $2,969,189 |
| Advertising and promotion | $128,895 |
| Office expenses | $136,057 |
| Information technology | $14,642 |
| Royalties | $0 |
| Occupancy | $88,069 |
| Travel | $43,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,175 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,356 |
| Insurance | $10,800 |
| All other expenses | $3,069 |
| Total functional expenses | $4,464,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,992,476 |
| Pledges and grants receivable | $299,015 |
| Accounts receivable, net | $69,364 |
| 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 | $15,043 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,658,911 |
| Investments—other securities | $189,413 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,517 |
| Total assets | $10,278,739 |
| Accounts payable and accrued expenses | $132,191 |
| 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 | $1,710,093 |
| Total liabilities | $1,842,284 |
| Net assets without donor restrictions | $7,479,873 |
| Net assets with donor restrictions | $956,582 |
| 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 | $10,278,739 |
Grants Awarded
Over the last fiscal year, Team Pennsylvania Foundation has awarded $34,867 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PENNSYLVANIA ASSOCIATION OF INTERMEDIATE UNITS PURPOSE: IU REGION PROJECT MANAGEMENT, PAIU PROJECT MANAGEMENT | $28,200 |
NORTHAMPTON AREA SCHOOL DISTRICT PURPOSE: CAREER READINESS MINI-GRANT PROJECT 2018 | $6,667 |