Valley Economic Development Partners Inc
- Assets
- $44.6m
- Revenue
- $8.2m
- Investments
- $40.7k
- Employees
- 11
- Location
- Youngstown, OH
- Founding
- 06/1979
- Data as of
- 12/2023
- EIN
- 34-1264163
Organization Overview
Valley Economic Development Partners Inc, operating under the name Valley Partners, is located in Youngstown, OH. The organization was established in 1979. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Valley Partners employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Partners 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 12/2023, Valley Partners generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 2.8% 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.
Since 2020, Valley Partners has awarded 672 individual grants totaling $6,916,853. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERING ENTREPRENEURS BY ASSISTING IN JOB CREATION AND PROVIDING LOAN PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES THROUGH BUSINESS CREATION, EXPANSION, AND RETENTION. DEVELOP AND OPERATE A DIVERSIFIED PORTFOLIO OF LOAN PROGRAMS AND OTHER SERVICES TO ADDRESS THE NEEDS OF REGIONAL BUSINESSES. ESTABLISH AND MAINTAIN STRONG RELATIONSHIPS WITH FINANCIAL, EDUCATIONAL, BUSINESS, GOVERNMENT, AND DEVELOPMENT ORGANIZATIONS AND ATTRACT INVESTORS FOR NEW BUSINESS OPPORTUNITIES. IN 2023 VALLEY PARTNERS CLOSED 162 FINANCIAL PRODUCTS FOR A TOTAL OF $20,345,885.20.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Michael Smith President | OfficerTrustee | 0.2 | $0 |
Josh Toot Vice President | OfficerTrustee | 0.2 | $0 |
James Gibbs Treasurer | OfficerTrustee | 0.2 | $0 |
Sarra Mohn Secretary | OfficerTrustee | 0.2 | $0 |
Vito Abruzzino Director | Trustee | 0.2 | $0 |
Derrick Mcdowell Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,800 |
| Related organizations | $0 |
| Government grants | $6,379,867 |
| All other contributions, gifts, grants, and similar amounts not included above | $190,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,572,667 |
| Total Program Service Revenue | $1,548,508 |
| Investment income | $108,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$108,535 |
| Net Income from Fundraising Events | $18,141 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,153,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,000 |
| 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. | $138,392 |
| Compensation of current officers, directors, key employees. | $40,215 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $445,029 |
| Pension plan accruals and contributions | $22,534 |
| Other employee benefits | $76,621 |
| Payroll taxes | $45,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,727 |
| Fees for services: Accounting | $26,186 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $81,040 |
| Advertising and promotion | $41,957 |
| Office expenses | $22,123 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,830 |
| Travel | $8,826 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,366 |
| Insurance | $37,097 |
| All other expenses | $46,297 |
| Total functional expenses | $1,297,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,690,068 |
| Savings and temporary cash investments | $394,444 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $252,765 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $28,520,538 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $198,170 |
| Investments—publicly traded securities | $2,476,268 |
| Investments—other securities | $40,667 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,597,920 |
| Accounts payable and accrued expenses | $12,699 |
| 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 | $670,838 |
| Unsecured mortgages and notes payable | $457,673 |
| Other liabilities | $13,677,585 |
| Total liabilities | $14,818,795 |
| Net assets without donor restrictions | $5,454,383 |
| Net assets with donor restrictions | $24,324,742 |
| 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 | $44,597,920 |
Grants Awarded
Over the last fiscal year, Valley Economic Development Partners Inc has awarded $1,324,200 in support to 134 organizations.
| Grant Recipient | Amount |
|---|---|
BIA-MAR INC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
MCKINLEY LANES AGC INC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
OHIO PAIN AND REHABILITATION INC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
SHAFER COMMERCIAL & INDUSTRIES SVC INC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
ANASTASIA ROSE NAILS AND BEAUTY PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $5,450 |
BRITAINS GAME LLC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |