Economic Development Compnay Of Lancaster County

Organization Overview

Economic Development Compnay Of Lancaster County is located in Lancaster, PA. The organization was established in 1965. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Economic Development Compnay Of Lancaster County employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Development Compnay Of Lancaster County is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2023, Economic Development Compnay Of Lancaster County generated $1.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 5.2% per year over the past 9 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

ENHANCE THE ECONOMIC WELL-BEING OF LANCASTER COUNTY BY BRINGING TOGETHER BUSINESS RESOURCES, CAPITAL AND GOVERNMENT FOR SELECTIVE, MEASURABLE AND SUSTAINABLE GROWTH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EDC ENHANCES THE ECONOMIC WELL-BEING OF LANCASTER COUNTY BY BRINGING TOGETHER BUSINESS, CAPITAL, AND GOVERNMENT RESOURCES FOR DATA-DRIVEN, SELECTIVE, AND SUSTAINABLE GROWTH. EDC'S CORE STRATEGIES ARE TO 1) EXPAND BUSINESS RETENTION AND EXPANSION EFFORTS, 2) GROW ECONOMIC DEVELOPMENT PROJECT FINANCING RESOURCES, TOOLS, AND EXPERTISE, 3) LEAD EFFECTIVE RESPONSES TO DISTINCT LOCAL/REGIONAL ECONOMIC OPPORTUNITIES OR CHALLENGES, AND 4) INTEGRATE THOUGHTFUL ANALYTICS.


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Board, Officers & Key Employees

Name (title)Compensation
Jessica Hamilton
Vice Preside
$135,312
Lisa Riggs
Previous Pre
$109,423
John Biemiller
Vice Preside
$110,834
Ezra Rothman
President
$102,238
Barbara Altmann
Director
$0
Troy A Clair
Board Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $92,308
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$92,308
Total Program Service Revenue$1,549,093
Investment income $85,136
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$130,902
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,595,635

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