Lehigh Valley Economic Investment Corporation
- Assets
- $1.6m
- Revenue
- $178.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Bethlehem, PA
- Founding
- 10/1962
- Data as of
- 12/2023
- 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 12/2023, Lehigh Valley Economic Investment Corporation generated $178.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $95.0k during the year ending 12/2023. While expenses have increased by 9.1% 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
AN ECONOMIC DEVELOPMENT AGENCY CERTIFIED THROUGH THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Brown President | OfficerTrustee | 2 | $0 |
Chris Persichetti Treasurer | OfficerTrustee | 2 | $0 |
Michael W Adams Secretary | OfficerTrustee | 2 | $0 |
Keith Bachman Assistant Treasurer | OfficerTrustee | 2 | $0 |
Joshua Grice Assistant Secretary | OfficerTrustee | 2 | $0 |
Brian Cook Vice President | OfficerTrustee | 2 | $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 | $27,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,000 |
| Total Program Service Revenue | $85,224 |
| Investment income | $66,070 |
| 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 | $178,294 |
| 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 | $4,780 |
| Fees for services: Accounting | $5,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,637 |
| 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 | $1,643 |
| All other expenses | $0 |
| Total functional expenses | $95,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,113,005 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,045 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $520,733 |
| Total assets | $1,634,783 |
| Accounts payable and accrued expenses | $3,568 |
| 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 | $419,104 |
| Other liabilities | $176,792 |
| Total liabilities | $599,464 |
| Net assets without donor restrictions | $1,035,319 |
| 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 | $1,634,783 |