Washington County Council On Economic Development
- Assets
- $23.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, PA
- Founding
- 10/1989
- Data as of
- 09/2021
- EIN
- 25-1598389
Organization Overview
Washington County Council On Economic Development is located in Washington, PA. The organization was established in 1989. 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 09/2021, Washington County Council On Economic Development employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington County Council On Economic Development 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 09/2021, Washington County Council On Economic Development generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WASHINGTON COUNTY COUNCIL ON ECONOMIC DEVELOPMENT (WCCED) IS DEDICATED TO A MISSION OF COMMUNITY ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARPOINTE INDUSTRIAL PARK - INDUSTRIAL PARK THAT IS CURRENTLY BEING DEVELOPED WITH THE GOAL OF SELLING LOTS TO BUSINESSES THAT WILL CREATE ADDITIONAL JOBS IN WASHINGTON COUNTY.
SBA MICROLOAN PROGRAMS - LOANS TO ASSIST SMALL BUSINESSES WITH THE GOAL OF JOB CREATION. AT SEPTEMBER 30, 2021, THERE WERE 85 OUTSTANDING LOANS TO SMALL BUSINESSES UNDER THIS PROGRAM.
IRP AND CDFI LOAN PROGRAMS - GOVERNMENT ASSISTED LENDING TO QUALIFIED BUSINESSES. AT SEPTEMBER 30, 2021, THERE WERE MULTIPLE LOANS OUTSTANDING TO QUALIFYING BUSINESSES UNDER THESE PROGRAMS.
VARIOUS LOAN PROGRAMS INCLUDING: BENEDUM LOAN PROGRAM, MAIN STREET LOAN PROGRAM, AND ARC PROJECT. AT SEPTEMBER 30, 2021, THERE WERE MULTIPLE LOANS OUTSTANDING TO QUALIFYING BUSINESSES UNDER THESE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Reitz Executive Director Until April 2021 | Officer | 40 | $91,377 |
Richard L White Chairman | OfficerTrustee | 2 | $0 |
J Lynn Dehaven Vice Chairman | OfficerTrustee | 2 | $0 |
Robert Griffin Secretary | OfficerTrustee | 2 | $0 |
Tom Hartswick Executive Director Starting May 2021 | Officer | 40 | $0 |
Raymond Vargo Director Until August 2021 | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ecological Restoration Wetland Mitigation | 9/29/16 | $408,821 |
Independence Excavating Earth Work | 9/29/16 | $367,204 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,274,701 |
| All other contributions, gifts, grants, and similar amounts not included above | $200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,274,901 |
| Total Program Service Revenue | $223,655 |
| Investment income | $7,813 |
| 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 | $1,591,528 |
| 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. | $140,641 |
| Compensation of current officers, directors, key employees. | $26,967 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $284,661 |
| Pension plan accruals and contributions | $15,837 |
| Other employee benefits | $52,271 |
| Payroll taxes | $30,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,225 |
| Fees for services: Accounting | $15,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,596 |
| Advertising and promotion | $0 |
| Office expenses | $10,930 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,015 |
| Travel | $12,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,975 |
| Interest | $101,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,278 |
| Insurance | $6,069 |
| All other expenses | $0 |
| Total functional expenses | $1,035,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,764,212 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $192,230 |
| Accounts receivable, net | $344,875 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,290,017 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $286,135 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,350,688 |
| Total assets | $23,228,157 |
| Accounts payable and accrued expenses | $7,697,638 |
| 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 | $4,850,885 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,445 |
| Total liabilities | $12,567,968 |
| Net assets without donor restrictions | $10,610,189 |
| Net assets with donor restrictions | $50,000 |
| 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 | $23,228,157 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |