Economic Growth Connection Of Westmoreland
- Assets
- $18.2m
- Revenue
- $786.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Greensburg, PA
- Founding
- 09/1989
- Data as of
- 12/2021
- EIN
- 25-6076647
Organization Overview
Economic Growth Connection Of Westmoreland is located in Greensburg, 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 12/2021, Economic Growth Connection Of Westmoreland employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Growth Connection Of Westmoreland 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 12/2021, Economic Growth Connection Of Westmoreland generated $786.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $857.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Economic Growth Connection Of Westmoreland has awarded 14 individual grants totaling $247,665. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS LEADERSHIP AND FINANCING - PROVIDE THE BUSINESS SECTOR LEADERSHIP TO DEVELOP BUSINESS OPPORTUNITIES AND FINANCING THAT CREATES AND RETAINS QUALITY JOBS IN WESTMORELAND COUNTY AND THE REGION. AS A LEADER, AND IN PARTNERSHIP WITH OTHERS,EGCW PROVIDES SUPPORT TO COUNTY COMPANIES TO HELP GROW & PROSPER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCING ASSISTANCE IDENTIFY POTENTIAL SOURCES OF FUNDING AT THE LOCAL, STATE AND FEDERAL LEVELS AND STRUCTURING PROJECTS TO OBTAIN THE GREATEST AMOUNT OF LOW COST FINANCING. EGCW FACILITATES THE PROCESS FROM DUE DILIGENCE THROUGH CLOSING.
WORKFORCE DEVELOPMENT WORK COLLABORATIVELY WITH SCHOOL DISTRICTS, HIGHER EDUCATION, ECONOMIC DEVELOPMENT AND INDUSTRY PARTNERS TO DISCOVER AND IMPLEMENT NEW SOLUTIONS TO BETTER ALIGN EDUCATION WITH THE NEEDS OF REGIONAL EMPLOYMENT CLUSTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James L Smith President/ceo | Officer | 40 | $150,312 |
George App Accountant | Officer | 40 | $52,429 |
Kevin Jansma Chairman | OfficerTrustee | 2 | $0 |
Peter Cooper Vice Chairman | OfficerTrustee | 2 | $0 |
Jason Rigone Treasurer | OfficerTrustee | 2 | $0 |
Michael Pauly Secretary | 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 | $304,512 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,512 |
| Total Program Service Revenue | $244,275 |
| Investment income | $18,576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $218,432 |
| 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 | $786,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,335 |
| 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. | $202,741 |
| Compensation of current officers, directors, key employees. | $44,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $252,769 |
| Pension plan accruals and contributions | $33,943 |
| Other employee benefits | $70,158 |
| Payroll taxes | $23,669 |
| Fees for services: Management | $15,003 |
| Fees for services: Legal | $23,264 |
| Fees for services: Accounting | $13,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,134 |
| Advertising and promotion | $12,764 |
| Office expenses | $33,789 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,714 |
| Travel | $9,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $451 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,632 |
| Insurance | $36,865 |
| All other expenses | $26,706 |
| Total functional expenses | $857,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,456,686 |
| Savings and temporary cash investments | $610,282 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $198,848 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $492,257 |
| Inventories for sale or use | $102,238 |
| Prepaid expenses and deferred charges | $17,026 |
| Net Land, buildings, and equipment | $12,353,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,231,147 |
| Accounts payable and accrued expenses | $599,186 |
| 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 | $2,952,915 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,552,101 |
| Net assets without donor restrictions | $13,054,940 |
| Net assets with donor restrictions | $1,624,106 |
| 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 | $18,231,147 |
Grants Awarded
Over the last fiscal year, Economic Growth Connection Of Westmoreland has awarded $247,665 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
DENNIS PUSKAR DBA JOHNATHAN MICHAELS BOUTIQ1UE PURPOSE: COVID DISASTER | $21,000 |
LIGONIER CREAMERY INC PURPOSE: COVID DISASTER | $21,000 |
WILLIAM M JONOS DBA ALLEGORY GALLERY PURPOSE: COVID DISASTER | $21,000 |
JEM ENTERPRISES INC BRADY'S RESTAURANT PURPOSE: COVID DISASTER | $21,000 |
LYNN D FERRARO DBA ARO ENTERPRISE INC PURPOSE: COVID DISASTER | $21,000 |
M&M'S HAIR DESIGN INC PURPOSE: COVID DISASTER | $21,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Economic Growth Connection Of Westmoreland has recieved totaling $62,500.
| Awarding Organization | Amount |
|---|---|
Katherine Mabis Mckenna Foundation Inc Latrobe, PA PURPOSE: SPECIAL STUDY | $50,000 |
Katherine Mabis Mckenna Foundation Inc Latrobe, PA PURPOSE: GENERAL SUPPORT | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
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 |