Lehigh Valley Association Of Independent Colleges
- Assets
- $512.6k
- Revenue
- $892.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Bethlehem, PA
- Founding
- 01/1971
- Data as of
- 06/2023
- EIN
- 23-7077479
Organization Overview
Lehigh Valley Association Of Independent Colleges is located in Bethlehem, PA. The organization was established in 1971. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Lehigh Valley Association Of Independent Colleges employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lehigh Valley Association Of Independent Colleges 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, Lehigh Valley Association Of Independent Colleges generated $892.7k 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 (4.6%) each year. All expenses for the organization totaled $1.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 8 years. 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
LVAIC IS A COMMUNITY OF INDEPENDENT COLLEGES AND UNIVERSITIES GROWING STRONGER THROUGH COLLABORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROUP PURCHASING - LVAIC SEEKS TO IDENTIFY STRATEGIC SOURCING AND PROCUREMENT OPPORTUNITIES THAT MEET THE COMMON NEEDS OF OUR MEMBERS. LVAIC DOES NOT PURCHASE ANY GOODS DIRECTLY ON BEHALF OF THE MEMBERS, BUT RATHER, WORKS IN CONJUNCTION WITH MEMBERS AND SUPPLIERS TO ESTABLISH MUTUALLY BENEFICIAL AGREEMENTS. WORKING TOGETHER, MEMBERS IN THE CONSORTIUM CAN PURCHASE GOODS AND SERVICES COLLECTIVELY AS A GROUP TO MAXIMIZE OUR FINANCIAL RESOURCES AND OPERATIONAL EFFICIENCIES THROUGH EFFECTIVE PROCUREMENT PRACTICES WHILE LEVERAGING OUR COLLECTIVE VOLUME AND EXPERTISE.LVAIC INSTITUTIONS WORK TOGETHER TO IDENTIFY OR SOURCE HIGH VALUE OPPORTUNITIES FOR JOINT PURCHASING THROUGH MEMBERSHIP IN GROUP PURCHASING ORGANIZATIONS (GPOS) OR THROUGH LVAIC PREFERRED SUPPLIERS OR CONTRACTED VENDORS. BY UTILIZING LVAIC PREFERRED SUPPLIERS OR CONTRACTED VENDORS, MEMBERS ARE ASSURED OF DOING BUSINESS WITH SUPPLIERS THAT OFFER COMPETITIVE PRICING, CONSISTENT AND PROVEN SERVICE, AND EXCELLENT PERFORMANCE.
CONFERENCES, WORKSHOPS, AND LIBRARY PROGRAMS.
HEALTH INSURANCE CONSORTIUM - LVAIC OPERATES AS MULTIPLE EMPLOYER WELFARE ARRANGEMENT AS DEFINED BY ERISA. LVAIC IS THE PLAN SPONSOR AND ADMINISTRATOR OF THE HEALTH PLAN AND THE LVAIC BOARD HAS A FIDUCIARY ROLE TO INSURE THE PROGRAM IS OPERATING FAIRLY AND IN COMPLIANCE WITH THE LAWS.
LEHIGH VALLEY RESEARCH CONSORTIUM (LVRC) - REVENUE FROM RESEARCH PROJECTS IS COLLECTED FROM THE APPROPRIATE COMMUNITY ORGANIZATION BY LVAIC AND THEN PAID BACK TO THE APPROPRIATE RESEARCHERS' CAMPUSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Meade Board Of Directors, Chair | OfficerTrustee | 2 | $0 |
FR James Greenfield Board Of Directors, Vice Chair | OfficerTrustee | 2 | $0 |
Bryon Grigsby Board Of Directors | Trustee | 2 | $0 |
Kathleen Harring Board Of Directors | Trustee | 2 | $0 |
Joseph Helble Board Of Directors | Trustee | 2 | $0 |
Nicole Hurd Board Of Directors | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $503,160 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $503,160 |
| Total Program Service Revenue | $389,519 |
| Investment income | $70 |
| 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 | $892,749 |
| 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. | $185,684 |
| Compensation of current officers, directors, key employees. | $40,851 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $237,898 |
| Pension plan accruals and contributions | $15,367 |
| Other employee benefits | $43,684 |
| Payroll taxes | $36,812 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,319 |
| Fees for services: Accounting | $11,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,863 |
| Advertising and promotion | $0 |
| Office expenses | $3,997 |
| Information technology | $19,678 |
| Royalties | $0 |
| Occupancy | $9,600 |
| Travel | $7,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $802 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,330 |
| Insurance | $7,959 |
| All other expenses | $6,683 |
| Total functional expenses | $1,011,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,704 |
| Savings and temporary cash investments | $326,323 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,291 |
| 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 | $31,746 |
| Net Land, buildings, and equipment | $28,560 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $512,624 |
| Accounts payable and accrued expenses | $23,727 |
| Grants payable | $0 |
| Deferred revenue | $123,560 |
| 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 | $0 |
| Total liabilities | $147,287 |
| Net assets without donor restrictions | $365,337 |
| 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 | $512,624 |