2024-05-15T15:22:52-05:00 2023-06-30 231386942 CAMPBELL RAPPOLD & YURASITS LLP 1033 S CEDAR CREST BLVD ALLENTOWN PA 181035443 990 2022-07-01 232101393 ALLENTOWN ECONOMIC DEVELOPMENT CORPORATION ALLE 6104358890 905 HARRISION ST ALLENTOWN PA 18103 R SCOTT UNGER EXECUTIVE DIRECTOR 6104358890 2024-05-10 1 R SCOTT UNGER 999009999 0 JOHN R ZAYAITZ CPA P01254535 6104357489 2024-05-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z R SCOTT UNGER 905 HARRISION ST ALLENTOWN PA 18103 2197322 0 X WWW.ALLENTOWNEDC.COM X 1979 PA TO PROACTIVELY IDENTIFY, ENCOURAGE, AND DEVELOP BUSINESS OPPORTUNITIES FOR THE LEHIGH VALLEY. 14 14 13 14 0 0 12500 7510 1646817 1711566 522130 -15615390 47909 26041 2229356 -13870273 0 0 0 0 621258 722520 0 0 0 1261676 1244535 1882934 1967055 346422 -15837328 29276532 14594861 5519440 6675097 23757092 7919764 X TO PROACTIVELY IDENTIFY, ENCOURAGE, MANAGE AND DEVELOP STRATEGIC BUSINESS OPPORTUNITIES FOR THE BENEFIT OF ALLENTOWN, ITS CITIZENS, AND THE LEHIGH VALLEY. 0 0 1011135 1157708 PROPERTY MANAGEMENT: MAINTAINING OF OLDER INDUSTRIAL BUILDINGS AND ATTRACTING MANUFACTURERS TO OPERATE FROM AN URBAN LOCATION. THIS IN TURN IS A SUSTAINABLE WAY OF UTILIZING INDUSTRIAL SPACE WHICH CREATES GROWTH OPPORTUNITIES FOR THE CITY AND JOBS FOR ITS RESIDENTS. IN ADDITION, MAINTAIN OTHER PROPERTIES THAT WERE DEVELOPED ON VACANT AND BLIGHTED AREAS AND HELP OLDER PROPERTY MAINTENANCE WHICH HOUSE NON-PROFITS BENEFITING THE RESIDENTS OF THE CITY OF ALLENTOWN. 86523 -15737299 DEVELOPMENT PROJECTS: DEVELOPMENT OF ACQUIRED PROPERTIES THAT WERE EITHER BLIGHTED OR UNDERUTILIZED. CREATE NEW JOBS AND FURTHER ECONOMIC DEVELOPMENT BY GETTING THESE PROPERTIES TO A SUSTAINABLE USE. 391877 505960 INCUBATION: ENCOURAGING AND FOSTERING THE DEVELOPMENT OF ECONOMIC GROWTH THROUGH THE ESTABLISHMENT AND MAINTENANCE OF A SMALL BUSINESS INCUBATOR FACILITY WHERE NEW AND GROWING BUSINESSES OPERATE UNDER ONE ROOF WITH LOW COST RENTAL, SHARED SERVICES AND EQUIPMENT, AND ACCESS TO PROFESSIONAL, TECHNICAL AND FINANCIAL PROGRAMS. 26584 39083 1) BUSINESS RETENTION & EXPANSION: PROGRAM TO RETAIN AND EXPAND BUSINESSES IN ORDER TO BRINGS JOBS AND DEVELOP THE CITY. 26584 39083 1516119 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 13 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X ROBERT HAAS 6104358890 905 HARRISON STREET ALLENTOWN PA 18103 DONALD M BERNHARD CHAIRMAN 1.00 X X 0 0 0 JOHN G ENGLESSON VICE CHAIRMAN 1.00 X X 0 0 0 MATTHEW B GREEN SECRETARY 1.00 X X 0 0 0 SUSAN E YOUNGS TREASURER 1.00 X X 0 0 0 MATTHEW TUERK DIRECTOR 1.00 X 0 0 0 DON CUNNINGHAM DIRECTOR 1.00 X 0 0 0 EDWARD ROMA DIRECTOR 1.00 X 0 0 0 DAVID QUIER DIRECTOR 1.00 X 0 0 0 VICKY KISTLER DIRECTOR 1.00 X 0 0 0 DARNELL SCOTT DIRECTOR 1.00 X 0 0 0 DARYL HENDRICKS DIRECTOR 1.00 X 0 0 0 FRANK KANE DIRECTOR 1.00 X 0 0 0 DAN QUAY DIRECTOR 1.00 X 0 0 0 JAMES K HARBAUGH DIRECTOR 1.00 X 0 0 0 R SCOTT UNGER EXECUTIVE DIRECTOR 40.00 X 133000 0 21142 133000 0 21142 1 0 1 0 0 7510 7510 PROPERTY MANAGEMENT 531310 1157708 1157708 BUSINESS INCUBATION 532000 505960 505960 LENDING 522291 39083 39083 REAL ESTATE DEVELOPMENT 532000 8815 8815 1711566 106765 106765 345440 16067595 -15722155 -15722155 -15722155 MISCELLANEOUS 900099 26041 26041 26041 -13870273 -13984548 0 106765 184053 46013 138040 435495 262047 173448 11760 8352 3408 61334 35141 26193 29878 19072 10806 2839 2839 19475 19475 64426 47283 17143 11088 224 10864 4594 4594 293694 289735 3959 5110 1016 4094 121656 120044 1612 486850 486850 110001 94460 15541 REPAIRS AND MAINTENANCE 92313 90161 2152 DUES & SUBSCRIPTIONS 13793 26 13767 PROGRAM EXPENSE 12140 12140 0 TRAINING 5216 3555 1661 1340 1340 1967055 1516119 450936 0 109680 126682 3301115 3212362 128668 151715 1931811 3400561 16246779 8543238 23805258 7703541 29276532 14594861 357534 64211 14098 11800 108429 124974 4585379 5970112 454000 504000 5519440 6675097 X 20945212 5032299 2811880 2887465 23757092 7919764 29276532 14594861 -15837328 0 X 0 0 0 X 50154 100000 176900 50454 46593 424101 50154 100000 176900 50454 46593 424101 424101 76462 104532 97203 93311 106765 478273 902374 7851208 0.47000 0.51480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 377799 377799 15626664 8322027 7304637 242316 221211 21105 7703541 REFUNDABLE GRANT PROCEEDS 454000 DEFERRED FUNDING 50000 504000 X -13870273 0 -13870273 0 -13870273 1967055 0 1967055 0 1967055 PART X, LINE 2: THE CORPORATION OPERATES AS A NOT-FOR-PROFIT CORPORATION IN THE COMMONWEALTH OF PENNSYLVANIA AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISION OF SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND NONE OF ITS PRESENT OR ANTICIPATED FUTURE ACTIVITIES ARE SUBJECT TO UNRELATED BUSINESS INCOME. THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. UNCERTAIN TAX POSITIONS ARE EVALUATED IN ACCORDANCE WITH FASB ASC 740-10. FASB ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CORPORATION'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. FASB ASC 740-10 ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, AND DISCLOSURE. THE CORPORATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST OR PENALTIES. THE CORPORATION FILES INCOME TAX RETURNS IN THE UNITED STATES. THE CORPORATION'S TAX YEARS JUNE 30, 2020 AND FORWARD REMAIN OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 0 0 0 0 0 0 0 0 0 R SCOTT UNGER EXECUTIVE DIRECTOR 133000 0 0 0 0 0 0 0 21142 0 154142 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 IS SUBMITTED TO THE BOARD FOR REVIEW. IN ADDITION, EXECUTIVE DIRECTOR & TREASURER APPROVED THE DOCUMENT PRIOR TO SUBMISSION FORM 990, PART VI, SECTION B, LINE 12C AS PER THE CONFLICT OF INTEREST POLICY THAT IS SIGNED BY EVERY BOARD MEMBER, IT IS REQUIRED THAT THEY DISCLOSE KNOWLEDGE OF A CONFLICT TO THE BOARD. THIS HAS TO BE DISCLOSED PRIOR TO START OF ANY CONSIDERATION OF THE MATTER OR AS SOON AS ONE IS AWARE OF ANY POTENTIAL, APPARENT, OR ACTUAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE BYLAWS OF AEDC ESTABLISH A COMPENSATION COMMITTEE THAT HAS GENERAL OVERSIGHT OF THE ORGANIZATION'S HUMAN RESOURCE PLAN. SPECIFIC DUTIES INCLUDE YEARLY EVALUATION OF THE CHIEF EXECUTIVE OF THE ORGANIZATION. A COMPETENT SALARY SURVEY SHALL BE USED TO BENCHMARK COMPENSATION FOR THE POSITION UTILIZING IEDC SALARY SURVEY AND OTHER STUDIES. THE COMMITTEE MEETS INDEPENDENTLY OF THE CHIEF EXECUTIVE TO DISCUSS PERFORMANCE RELATIVE TO THE POSITION DESCRIPTION. DURING THESE DELIBERATIONS, THE COMMITTEE ALSO CONSIDERS INPUT OBTAINED FROM OTHER BOARD MEMBERS, STAFF, PROFESSIONAL ADVISORS, GRANT RECIPIENTS, AND OTHER INFORMED COMMUNITY LEADERS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST