Lehigh Valley Industrial Park Inc
- Assets
- $45.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Bethlehem, PA
- Founding
- 05/1961
- Data as of
- 06/2023
- EIN
- 24-0859713
Organization Overview
Lehigh Valley Industrial Park Inc is located in Bethlehem, PA. The organization was established in 1961. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Lehigh Valley Industrial Park Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lehigh Valley Industrial Park Inc 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 06/2023, Lehigh Valley Industrial Park Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 12.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS A CATALYST FOR ECONOMIC GROWTH WITHIN THE LEHIGH VALLEY BY PROVIDING COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS AND URBAN SITES THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH THE EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY. MAJOR ACCOMPLISHMENT FOR THE YEAR INCLUDE INVESTMENT OF $497,973 IN ADDITIONAL LAND DEVELOPMENT COSTS FOR LEHIGH VALLEY PARK VII.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerry Wrobel President, Secretary | OfficerTrustee | 40 | $276,190 |
Jeffrey Feather Past Chair | OfficerTrustee | 1 | $0 |
Michael Gausling Chairman | OfficerTrustee | 5 | $0 |
Martin C Gilchrist Director | Trustee | 1 | $0 |
M Arif Fazil Director | Trustee | 1 | $0 |
Michael Albarell Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,000,000 |
| Investment income | $496,583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $619,617 |
| 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 | $2,268,782 |
| 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. | $320,737 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $195,596 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,081 |
| Payroll taxes | $30,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,438 |
| Fees for services: Accounting | $37,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,864 |
| Advertising and promotion | $10,990 |
| Office expenses | $45,196 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,008 |
| 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 | $3,076 |
| Insurance | $33,983 |
| All other expenses | $3,277 |
| Total functional expenses | $1,426,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $869,014 |
| Savings and temporary cash investments | $28,010,336 |
| 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 | $11,566 |
| Net Land, buildings, and equipment | $12,321,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,670,586 |
| Total assets | $45,883,028 |
| Accounts payable and accrued expenses | $93,173 |
| Grants payable | $0 |
| Deferred revenue | $51,972 |
| 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 | $84,501 |
| Total liabilities | $229,646 |
| Net assets without donor restrictions | $45,653,382 |
| 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 | $45,883,028 |