Capital Region Economic Developement Corporation

Organization Overview

Capital Region Economic Developement Corporation is located in Harrisburg, PA. The organization was established in 2004. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is the central organization for a national or regional group of organizations. Capital Region Economic Developement Corporation 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 12/2022, Capital Region Economic Developement Corporation generated $624.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $854.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE CAPITAL REGION ECONOMIC DEVELOPMENT CORP. IS TO BE A CATALYST FOR POLICY CHANGE, FOR JOB CREATION AND FOR BUSINESS GROWTH IN CUMBERLAND, DAUPHIN AND PERRY COUNTIES THAT ENHANCES THE QUALITY OF LIFE IN OUR REGION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PERFORM AND PROMOTE ECONOMIC DEVELOPMENT IN SOUTH CENTRAL PENNSYLVANIA THROUGH FINANCING AND LOAN PROGRAMS, BUILDING AND SITE LOCATION, INTERNATIONAL EXPORT OPPORTUNITIES, REGIONAL INFRASTRUCTURE AND EXISTING BUSINESS RETENTION AND EXPANSION. DURING 2021, CREDC ORIGINATED 16 PROJECTS WITH LOANS, GRANTS AND TAX CREDITS THAT RESULTED IN APPROXIMATELY 42 MILLION IN PRIVATE INVESTMENT, 90 MILLION IN PUBLIC FUNDING AND CREATED OR RETAINED 2,200 JOBS IN SOUTH CENTRAL PENNSYLVANIA.


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Board, Officers & Key Employees

Name (title)Compensation
Ryan Unger
President
$0
Scott Rogers
Vp, Finance
$0
Tj Andrisano
Director
$0
Wade Becker
Vice Chair
$0
Scott Brown
Director
$0
Katie Clarke
2nd Vice Cha
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $121,086
All other contributions, gifts, grants, and similar amounts not included above$177,697
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$298,783
Total Program Service Revenue$317,443
Investment income $35,588
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$27,423
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $624,391

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