Lehigh Valley Economic Investment Corporation
- Assets
- $1.6m
- Revenue
- $76.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bethlehem, PA
- Founding
- 10/1962
- Data as of
- 12/2021
- EIN
- 23-6296874
Organization Overview
Lehigh Valley Economic Investment Corporation is located in Bethlehem, PA. The organization was established in 1962. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, 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. Lehigh Valley Economic Investment 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, Lehigh Valley Economic Investment Corporation generated $76.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $66.9k during the year ending 12/2021. While expenses have increased by 6.8% 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
AN ECONOMIC DEVELOPMENT AGENCY CERTIFIED THROUGH THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPLMENT AND FUNCTIONS TO FINANCE THE EXPANSION AND/OR RELOCATION OF BUSINESSES WITHIN LEHIGH AND NORTHAMPTON COUNTIES BY ACTING AS AN INTERMEDIARY BETWEEN EQUITABLE OWNERS, FINANCIAL INSTITUTIONS AND/OR THE COMMONWEALTH OF PENNSYLVANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTS AS AN INTERMEDIARY TO HELP FINANCE THE EXPANSION AND RELOCATION OF BUSINESSES WITHIN LEHIGH AND NORTHAMPTON COUNTIES IN PENNSYLVANIA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Brown President | OfficerTrustee | 2 | $0 |
Michael W Adams Secretary | OfficerTrustee | 2 | $0 |
Brian Cook Vice President | OfficerTrustee | 2 | $0 |
Keith Bachman Assistant Treasurer | OfficerTrustee | 2 | $0 |
Chris Persichetti Treasurer | OfficerTrustee | 2 | $0 |
Amy Hawley Assistant Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,000 |
| 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 | $27,000 |
| Total Program Service Revenue | $42,062 |
| Investment income | $6,507 |
| 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 | $76,669 |
| 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 | $45,000 |
| Fees for services: Legal | $1,075 |
| Fees for services: Accounting | $5,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,797 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $1,476 |
| All other expenses | $0 |
| Total functional expenses | $66,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,555,533 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,976 |
| 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 | $939 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,559,448 |
| 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 | $463,131 |
| Other liabilities | $176,792 |
| Total liabilities | $639,923 |
| Net assets without donor restrictions | $919,525 |
| 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 | $1,559,448 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
Ohio Association Of Realtors Columbus, OH | $13,314,743 | $8,037,922 |
Ohio Chamber Of Commerce Columbus, OH | $30,926,421 | $7,246,853 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Maryland Association Of Realtors Inc Annapolis, MD | $30,475,935 | $7,062,781 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
Greater Lehigh Valley Chamber Of Commerce Easton, PA | $3,461,943 | $5,381,256 |
World Trade Centers Association Inc New York, NY | $23,293,174 | $7,185,978 |