2024-11-14T11:19:40-06:00 2024-06-30 231386942 CAMPBELL RAPPOLD & YURASITS LLP 1033 S CEDAR CREST BLVD ALLENTOWN PA 181035443 990 2023-07-01 240859713 LEHIGH VALLEY INDUSTRIAL PARK INC LEHI 6108664600 1720 SPILLMAN DRIVE 150 BETHLEHEM PA 180152253 KERRY A WROBEL PRESIDENT 6108664600 2024-10-28 1 0 MELISSA A GRUBE CPA P00102173 6104357489 2024-10-28 2023 2024-10-15 13:58:12Z KERRY A WROBEL 1720 SPILLMAN DRIVE 150 BETHLEHEM PA 180152253 5444905 0 X WWW.LVIP.ORG X 1959 PA TO SERVE AS A CATALYST FOR ECONOMIC GROWTH WITHIN THE LEHIGH VALLEY BY PROVIDING COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS AND URBAN SITES THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY. 22 18 3 23 165965 164965 0 0 1000000 2500000 496583 1323215 772199 680621 2268782 4503836 0 0 0 0 567951 595333 0 0 0 859035 1090339 1426986 1685672 841796 2818164 45883028 48667604 229646 196058 45653382 48471546 CREATE JOBS, EXPAND THE REGIONAL TAX BASE, DIVERSIFY THE LOCAL ECONOMY AND TO PROMOTE THE ECONOMIC VITALITY AND ENHANCE THE QUALITY OF LIFE IN THE LEHIGH VALLEY. 0 0 1529308 2500000 PROVIDE COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH THE EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY. MAJOR ACCOMPLISHMENT FOR THE YEAR INCLUDE INVESTMENT OF $1,757,250 IN ADDITIONAL LAND DEVELOPMENT COSTS FOR LEHIGH VALLEY PARK VII. 1529308 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 9 0 3 1 1 1 0 0 0 0 0 0 0 0 0 X 22 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X KERRY WROBEL 6108664600 1720 SPILLMAN DRIVE 150 BETHLEHEM PA 180152253 KERRY WROBEL PRESIDENT, SECRETARY 40.00 X X 294447 0 32573 MICHAEL GAUSLING CHAIRMAN 5.00 X X 0 0 0 M ARIF FAZIL DIRECTOR 1.00 X 0 0 0 MICHAEL ALBARELL DIRECTOR 1.00 X 0 0 0 DAVID NEPERENY DIRECTOR 1.00 X 0 0 0 MARY JANE MCKEEVER TREASURER 4.00 X X 0 0 0 CURTIS BARNETTE DIRECTOR 1.00 X 0 0 0 JOHN D STANLEY VICE CHAIRMAN 1.00 X X 0 0 0 JAN HELLER DIRECTOR 1.00 X 0 0 0 ANNE BAUM DIRECTOR 1.00 X 0 0 0 SANDRA BODNYK DIRECTOR 1.00 X 0 0 0 DAVID RUTH DIRECTOR 1.00 X 0 0 0 BRIAN CARR DIRECTOR 1.00 X 0 0 0 PATRICK CLASEN DIRECTOR 1.00 X 0 0 0 THE REVEREND JAMES GREENFIELD DIRECTOR 1.00 X 0 0 0 SILVIA HOFFMAN DIRECTOR 1.00 X 0 0 0 NEAL KOPLIN DIRECTOR 1.00 X 0 0 0 MICHAEL MAGAZZU DIRECTOR 1.00 X 0 0 0 THOMAS MARCHOZZI DIRECTOR 1.00 X 0 0 0 ANDREW MCINTYRE DIRECTOR 1.00 X 0 0 0 J WILLIAM REYNOLDS DIRECTOR 1.00 X 0 0 0 SALVATORE VERRASTRO DIRECTOR 1.00 X 0 0 0 MARTIN C GILCHRIST DIRECTOR 1.00 X 0 0 0 JUSTIN RYAN DIRECTOR OF BUSINESS DEVELOPMENT 40.00 X 130949 0 17997 425396 0 50570 2 0 1 0 0 LAND SALES 531390 2500000 2500000 2500000 1323215 1323215 1455725 941069 514656 514656 514656 BILLBOARD 900099 165965 165965 165965 4503836 2500000 165965 1837871 332885 332885 208417 157579 50838 22738 17172 5566 31293 28164 3129 14502 13052 1450 19300 19300 26334 13167 13167 15983 15983 35289 5639 29650 2924 2924 3396 3396 33196 24897 8299 UNRELATED BUSINESS INCO 34643 34643 COST OF LAND SALES/LAND 653851 653851 PARK VIII EXPLORATORY C 239759 239759 PARK VII MAINTENANCE 8500 8500 2662 2662 1685672 1529308 156364 0 869014 56698 28010336 24301780 973930 11566 18744 16562601 4205597 12321526 12357004 5381000 4670586 5578448 45883028 48667604 93173 119782 51972 84501 76276 229646 196058 X 45653382 48471546 45653382 48471546 45883028 48667604 2818164 0 X X 0 1 X 1 0 1606127 1606127 12615696 3262506 9353190 141066 119293 21773 2199712 823798 1375914 12357004 CERTIFICATES OF DEPOSIT 5381000 C 5381000 LAND AND DEVELOPMENT COSTS - LVIP VII 5006893 LAND AND DEVELOPMENT COSTS - LVIP VIII 53079 DEPOSITS 400000 LAND AND DEVELOPMENT COSTS - GATEWAY ON 4TH 118476 5578448 REPLACEMENT FUND 76276 76276 X 4503836 0 4503836 0 4503836 1685672 0 1685672 0 1685672 PART X, LINE 2: 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 ORGANIZATION'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 DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, AND DISCLOSURE. THE ORGANIZATION HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST OR PENALTIES. X X X X 0 0 0 KERRY WROBEL PRESIDENT, SECRETARY 226013 0 61834 0 6600 0 8635 0 23938 0 327020 0 0 0 JUSTIN RYAN DIRECTOR OF BUSINESS DEVELOPMENT 117875 0 13074 0 0 0 3928 0 14069 0 148946 0 0 0 MARY JANE MCKEEVER DIRECTOR 201958 MARY JANE IS THE VICE PRESIDENT OF FINANCE OF ST. LUKE'S UNIVERSITY HEALTH NETWORK. ST. LUKE'S UNIVERSITY HEALTH NETWORK IS A TENANT IN THE LVIP OFFICE BUILDING PAYING LEASE RENT AT MARKET-BASED RATES. 0 M ARIF FAZIL DIRECTOR 4410 M. ARIF FAZIL IS PRESIDENT OF D'HUY ENGINEERING, INC. D'HUY ENGINEERING, INC. PROVIDED CONSTRUCTION OVERSIGHT. 0 SALVATORE VERRASTRO DIRECTOR 142823 SALVATORE VERRASTRO IS A PRINCIPAL AT SPILLMAN FARMER ARCHITECTS. SPILLMAN FARMER ARCHITECTS IS A TENANT IN THE LVIP OFFICE BUILDING. 0 SALVATORE VERRASTRO DIRECTOR 963 SALVATORE VERRASTRO IS A PRINCIPAL AT SPILLMAN FARMER ARCHITECTS. SPILLMAN FARMER ARCHITECTS PROVIDES DESIGN SERVICES FOR LVIP. 0 FORM 990, PART VI, SECTION A, LINE 2 KERRY WROBEL(PRESIDENT/SECRETARY) AND MARY JANE MCKEEVER (TREASURER). FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND A COPY IS EMAILED TO THE FULL BOARD BEFORE FINALIZING. FORM 990, PART VI, SECTION B, LINE 12C PERIODIC REVIEWS ARE CONDUCTED BY MANAGEMENT. MANAGEMENT REPORTS AT LEAST ANNUALLY TO THE EXECUTIVE COMMITTEE ON THE RESULTS OF ITS REVIEWS. THE PERIODIC REVIEWS BY MANAGEMENT SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: 1) WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULT OF ARM'S-LENGTH BARGAINING; 2) WHETHER ALL ARRANGEMENTS WITH OUTSIDE CONTRACTORS CONFORM TO WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECTED REASONABLE PAYMENTS FOR GOODS AND SERVICES RENDERED AND FURTHER THE ORGANIZATION'S TAX EXEMPT PURPOSE AND DO NOT RESULT IN INUREMENT OR IMPERMISSIBLE PRIVATE BENEFIT. FORM 990, PART VI, SECTION B, LINE 15 LVIP ANNUALLY BENCHMARKS THE SALARY AND BENEFITS OF ITS EXECUTIVE AGAINST OTHER COMPARABLE POSITIONS IN THE LEHIGH VALLEY. LVIP CONTRACTED WITH A NATIONAL EXECUTIVE COMPENSATION CONSULTANT TO CONDUCT A PEER GROUP REVIEW OF REAL ESTATE PROFESSIONALS ON A REGIONAL AND NATIONAL LEVEL. RESULTS CONFIRMED LVIP STAFF COMPENSATION IS COMPARABLE TO SIMILAR REAL ESTATE POSITIONS AND COMPANIES. BASED ON THIS DATA AND THE PERFORMANCE CRITERIA THAT HAVE BEEN ESTABLISHED BY THE LVIP EXECUTIVE COMMITTEE, THE SALARY AND BENEFITS OF LVIP'S EXECUTIVE ARE ADJUSTED ACCORDINGLY. THE EXECUTIVE COMMITTEE MEETS ANNUALLY IN "EXECUTIVE SESSION" TO DISCUSS COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE CREATED BY THE FINANCE, AUDIT OR EXECUTIVE COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. THE 990 IS A PUBLIC DOCUMENT AND ANYONE CAN RETRIEVE IT VIA GUIDESTAR.COM. FINANCIAL STATEMENTS AND POLICIES ARE PROVIDED UPON REQUEST. FORM 990 PART XI LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR.