2024-07-30T07:35:11-05:00 2023-12-31 340677006 MALONEY NOVOTNY LLC 4774 MUNSON STREET NW SUITE 402 CANTON OH 447183634 990 2023-01-01 341264163 VALLEY ECONOMIC DEVELOPMENT PARTNERS INC VALL 3307593668 4319 BELMONT AVE YOUNGSTOWN OH 44505 JAMES GIBBS TREASURER 3307593668 2024-07-18 1 0 MATTHEW J BANJO P01260593 3309669400 2023 2024-08-08 14:25:15Z VALLEY PARTNERS TERESA MILLER 4319 BELMONT AVE YOUNGSTOWN OH 44505 9476538 0 X WWW.VALLEYEDP.COM X 1977 OH EMPOWERING ENTREPRENEURS BY ASSISTING IN JOB CREATION AND PROVIDING LOAN PROGRAMS 17 17 11 0 0 0 6339961 6572667 1184198 1548508 661 263 34547 31800 7559367 8153238 1965995 80000 0 0 724553 727920 0 0 0 579572 489581 3270120 1297501 4289247 6855737 34171948 44597920 11398432 14818795 22773516 29779125 TO BE A LEADER IN DEVELOPING EMPLOYMENT OPPORTUNITIES THROUGH BUSINESS CREATION, EXPANSION AND RETENTION IN COLLABORATION WITH OTHER REGIONAL ORGANIZATIONS. 0 0 919586 80000 1562167 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. 919586 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 9 0 1 11 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 OH X TERESA MILLER 3307593668 4319 BELMONT AVENUE YOUNGSTOWN OH 44505 JULIE MICHAEL SMITH PRESIDENT 0.20 0.20 X X 0 0 0 JOSH TOOT VICE PRESIDENT 0.20 0.20 X X 0 0 0 JAMES GIBBS TREASURER 0.20 0.20 X X 0 0 0 SARRA MOHN SECRETARY 0.20 0.20 X X 0 0 0 VITO ABRUZZINO DIRECTOR 0.20 0.20 X 0 0 0 DERRICK MCDOWELL DIRECTOR 0.20 0.20 X 0 0 0 SHELLEY TAYLOR DIRECTOR 0.20 0.20 X 0 0 0 DIANE RICHARDSON DIRECTOR 0.20 0.20 X 0 0 0 SAMUEL HUSTON DIRECTOR 0.20 0.20 X 0 0 0 STEPHANIE GILCHRIST DIRECTOR 0.20 0.20 X 0 0 0 ANNEMARIE DEASCENTIS DIRECTOR 0.20 0.20 X 0 0 0 GIOVANI MERLO DIRECTOR 0.20 0.20 X 0 0 0 CHRISTOPHER COLELLA DIRECTOR 0.20 0.20 X 0 0 0 LYNETTE SUTTON DIRECTOR 0.20 0.20 X 0 0 0 MICHAEL KEYS DIRECTOR 0.20 0.20 X 0 0 0 THOMAS STABI DIRECTOR 0.20 0.20 X 0 0 0 BEN DIGIROLAMO DIRECTOR 0.20 0.20 X 0 0 0 TERESA MILLER EXECUTIVE DIRECTOR 40.00 2.00 X 121776 0 16616 121776 0 16616 1 0 0 0 0 2800 6379867 190000 6572667 REVOLVING LOAN INTEREST INCOME 525990 940655 940655 LOAN SERVICING FEES 525990 607853 607853 1548508 108798 108798 1200719 1309254 -108535 -108535 -108535 32187 2800 14046 18141 18141 DOCUMENT PREP FEES 900099 7499 7499 BAD DEBT RECOVERY 900099 6860 6860 REIMBURSEMENTS 900099 5372 5372 -6072 -6072 13659 8153238 1562167 0 18404 80000 80000 138392 98177 40215 445029 311163 133866 22534 15890 6644 76621 53609 23012 45344 31810 13534 7727 1072 6655 26186 1000 25186 81040 56728 24312 41957 29370 12587 22123 17599 4524 8830 6941 1889 8826 4413 4413 29173 29173 14366 14366 37097 37097 BAD DEBT EXPENSE 87131 87131 REPAIRS AND MAINTENANCE 35319 35319 PROFESSIONAL DEVELOPMEN 24230 19384 4846 DATA PROCESSING 19279 17351 1928 46297 44409 1888 1297501 919586 377915 0 10118799 12690068 471971 394444 0 25000 197480 252765 19816516 28520538 862559 664389 290176 198170 3248766 2476268 28240 40667 34171948 44597920 29178 12699 1201480 670838 514528 457673 9653246 13677585 11398432 14818795 X 4642896 5454383 18130620 24324742 22773516 29779125 34171948 44597920 6855737 149872 0 X 0 1 X 1 1 1 X 633440 9478719 3408815 6339961 6572667 26433602 633440 9478719 3408815 6339961 6572667 26433602 166039 26267563 139125 3307 1503 58860 108798 311593 1200859 19546 50737 45846 1316988 28062183 8566846 0.93600 0.91750 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RECOVERY OF BAD DEBTS - 2020 AMOUNT: $ 8,311. 2021 AMOUNT: $ 3,056. 2022 AMOUNT: $ 4,793. 2023 AMOUNT: $ 6,860. DEBT FORGIVEN - 2020 AMOUNT: $ 1,170,689. DOCUMENT PREP FEES - 2020 AMOUNT: $ 1,967. 2021 AMOUNT: $ 3,054. 2022 AMOUNT: $ 4,800. 2023 AMOUNT: $ 7,499. MISCELLANEOUS - 2020 AMOUNT: $ 7,184. 2021 AMOUNT: $ 3,598. 2022 AMOUNT: $ 4,235. 2023 AMOUNT: $ -700. FUNDRAISING EVENT - 2020 AMOUNT: $ 12,708. 2021 AMOUNT: $ 9,838. 2022 AMOUNT: $ 36,909. 2023 AMOUNT: $ 32,187. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 131150 131150 320164 301769 18395 87795 47840 39955 323450 314780 8670 198170 LOAN PROGRAM PAYABLES 10711822 GRANT FUNDS RECEIVED IN ADVANCE 2945763 DUE TO AFFILIATE 20000 13677585 X 8317156 149872 14046 163918 8153238 0 8153238 1311547 14046 14046 1297501 0 1297501 PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, THERE IS NO PROVISION FOR INCOME TAXES. THE ORGANIZATION'S FEDERAL FORM 990 IS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY FOR THREE YEARS AFTER IT IS FILED. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES RELATED TO FUNDRAISING 14,046. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES RELATED TO FUNDRAISING 14,046. GOLF OUTING 34987 2800 32187 720 4718 3888 4721 34987 2800 32187 720 4718 3888 4721 14047 18140 1 VARIOUS 80000 0 GRANT CLASS PROGRAM 0 13 PART I, LINE 2: THE SMALL BUSINESS RELIEF PROGRAM WAS TO ALLEVIATE SUDDEN AND SEVERE ECONOMIC DISLOCATION CAUSED BY THE CORONAVIRUS (COVID-19) PANDEMIC AND TO PROVIDE MONETARY RELIEF FROM ANY BUSINESS INTERRUPTION OR ADDITIONAL PRECAUTIONS REQUIRED TO REOPEN. WE REVIEWED APPLICATIONS TO BE CERTAIN THE SMALL BUSINESS MET ALL OF THE ELIGIBILITY CRITERIA. EACH GRANT UP TO $10,000 WAS AWARDED ON A REIMBURSEMENT BASIS FOR FUNDS EXPENSED ON ELIGIBLE ITEMS INCURRED. THE BUSINESS SUBMITTED AN ITEMIZED LIST OF EXPENDITURES ALONG WITH ALL SUPPORTING DOCUMENTATION SHOWING PAYMENTS OF ELIGIBLE EXPENSES (PAID INVOICES, RECEIPTS, CANCELED CHECKS OR BANK STATEMENTS) AT APPLICATION. THEREFORE, CONTINUOUS MONITORING IS NOT NECESSARY. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND FILED AFTER APPROVAL OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE EVALUATED BY THE EXECUTIVE COMMITTEE ON AN ANNUAL BASIS TO ENSURE THERE ARE NO CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS EVALUATED ON AN ANNUAL BASIS BY THE PERSONNEL COMMITTEE. IT IS COMPARED TO THE COMPENSATION REPORT FROM NADCO. THE COMPENSATION IS THEN APPROVED BY THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. THE COMPENSATION OF THE LOAN OFFICERS IS EVALUATED ON AN ANNUAL BASIS BY THE LOAN COMMITTEE. THE COMPENSATION IS THEN APPROVED BY THE LOAN COMMITTEE AND THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. ECONOMIC DEVELOPMENT RAIL CORP 4319 BELMONT AVENUE YOUNGSTOWN OH 44505 341452533 DEVELOPMENT OH 501(C)(3) LINE 7 N/A 0 ECONOMIC DEVELOPMENT RAIL II CORP 4319 BELMONT AVENUE YOUNGSTOWN OH 44505 341773503 DEVELOPMENT OH 501(C)(3) LINE 7 N/A 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0