2024-08-14T14:45:32-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 1525 VALLEY CENTER PARKWAY STE 300 BETHLEHEM PA 180172285 990 2023-01-01 232798276 LEHIGH VALLEY ECONOMIC DEVELOPMENT CORPORATION (LVEDC) LEHI 6102666775 520 N NEW STREET BETHLEHEM PA 18018 DONALD T CUNNINGHAM JR CEO - PRESIDENT 6102666775 2024-08-02 1 0 CARY J GIACALONE II CPA P01799465 6104335501 2024-08-02 2023 2024-08-08 14:25:15Z DONALD T CUNNINGHAM JR 520 N NEW STREET BETHLEHEM PA 18018 3333424 0 X WWW.LEHIGHVALLEY.ORG X 1995 PA THE MISSION OF THE LEHIGH VALLEY ECONOMIC DEVELOPMENT CORPORATION IS TO MARKET THE ECONOMIC ASSETS OF THE LEHIGH VALLEY AND TO CREATE PARTNERSHIPS TO SUPPORT THE RECRUITMENT, GROWTH, AND RETENTION OF EMPLOYERS AND THE CREATION OF JOBS FOR PEOPLE OF ALL SKILL AND EDUCATION LEVELS. 33 32 18 37 0 0 2910057 2936182 283045 291406 4899 101563 1005 811 3199006 3329962 80425 74927 0 0 1892541 1934112 0 0 56120 1087586 1102487 3060552 3111526 138454 218436 6009502 6107133 2546535 2425730 3462967 3681403 X THE MISSION OF THE LEHIGH VALLEY ECONOMIC DEVELOPMENT CORPORATION IS TO MARKET THE ECONOMIC ASSETS OF THE LEHIGH VALLEY AND TO CREATE PARTNERSHIPS TO SUPPORT THE RECRUITMENT, GROWTH AND RETENTION OF EMPLOYERS, AND THE CREATION OF JOBS FOR PEOPLE OF ALL SKILL AND EDUCATION LEVELS. 0 0 2394436 74927 292217 ECONOMIC DEVELOPMENT - MARKET THE ECONOMIC ASSETS OF THE LEHIGH VALLEY, RECRUIT COMPANIES IN TARGETED ECONOMIC SECTORS, SUPPORT THE GROWTH AND RETENTION OF NEW AND EXISTING EMPLOYERS, PROMOTE AND COORDINATE A SKILLED AND PREPARED WORKFORCE, PROVIDE INTELLIGENCE AND DATA ON THE LEHIGH VALLEY ECONOMY, EXPAND PUBLIC AND PRIVATE PARTNERSHIPS FOR ECONOMIC GROWTH. 2394436 1 1 0 1 0 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 15 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X JAIME M WHALEN 6102666775 520 N NEW STREET BETHLEHEM PA 18018 DONALD T CUNNINGHAM JR PRESIDENT/CEO 40.00 X X 267389 0 34200 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 40.00 X 141420 0 25630 KARIANNE GELINAS VP OF REG PTPS & TALENT ST 40.00 X 125839 0 24532 KRISTIN CAHAYLA-HOFFMAN VP OF BUS DVLPMT & ATTRACT 40.00 X 124556 0 24312 NICOLE MERTZ VP MKTG, COMM & RESEARCH 40.00 X 108796 0 14827 EDWARD DOUGHERTY CHAIR 1.00 X X 0 0 0 STEPHEN HOFF VICE CHAIR 1.00 X X 0 0 0 CHRIS BROWN TREASURER 1.00 X X 0 0 0 DAN MCCARTHY SECRETARY 1.00 X X 0 0 0 PAUL ANTHONY BOARD MEMBER 1.00 X 0 0 0 HONORABLE PHILLIPS ARMSTRONG BOARD MEMBER 1.00 X 0 0 0 DR ANN D BIEBER BOARD MEMBER 1.00 X 0 0 0 GUNNAR BRUNIUS BOARD MEMBER 1.00 X 0 0 0 TOM IKE BOARD MEMBER 1.00 X 0 0 0 ADAM GALCZYSKI BOARD MEMBER 1.00 X 0 0 0 DR LISA GREENAWALT BOARD MEMBER 1.00 X 0 0 0 REV JAMES GREENFIELD BOARD MEMBER 1.00 X 0 0 0 HONORABLE DAN HARTZELL BOARD MEMBER 1.00 X 0 0 0 T ANTHONY IANNELLI BOARD MEMBER 1.00 X 0 0 0 NEAL KOPLIN BOARD MEMBER 1.00 X 0 0 0 MICHAEL LANDSBURG BOARD MEMBER 1.00 X 0 0 0 SUSAN LARKIN BOARD MEMBER 1.00 X 0 0 0 HONORABLE LAMONT MCCLURE BOARD MEMBER 1.00 X 0 0 0 MICHELE MCGRATH BOARD MEMBER 1.00 X 0 0 0 SHELLY MCWILLIAMS BOARD MEMBER 1.00 X 0 0 0 ALEX MICHAELS BOARD MEMBER 1.00 X 0 0 0 RAYMOND MIDLAM BOARD MEMBER 1.00 X 0 0 0 HONORABLE SAL PANTO JR BOARD MEMBER 1.00 X 0 0 0 HONORABLE J WILLIAM REYNOLDS BOARD MEMBER 1.00 X 0 0 0 DR TINA Q RICHARDSON BOARD MEMBER 1.00 X 0 0 0 JULIEN SAUVAGNARGUES BOARD MEMBER 1.00 X 0 0 0 LOREN SPEZIALE BOARD MEMBER 1.00 X 0 0 0 CAROLYN STENNETT BOARD MEMBER 1.00 X 0 0 0 HONORABLE MATT TUERK BOARD MEMBER 1.00 X 0 0 0 R SCOTT UNGER BOARD MEMBER 1.00 X 0 0 0 HONORABLE TARA ZRINSKI BOARD MEMBER 1.00 X 0 0 0 CHRISTINE MARTIN BOARD MEMBER 1.00 X 0 0 0 768000 0 123501 5 0 1 0 0 2078672 857510 5760 2936182 ECONOMIC DEVELOPMENT 900099 291406 291406 291406 105025 105025 3462 -3462 -3462 -3462 MISCELLANEOUS INCOME 900099 811 811 811 3329962 292217 0 101563 74927 74927 891501 699949 145642 45910 797350 630397 165369 1584 41961 26209 13350 2402 82887 72550 10195 142 120413 94628 22783 3002 9146 9146 17228 17228 42000 42000 187366 163318 24019 29 370602 370602 56921 9220 44673 3028 75306 47761 27545 195839 144124 51715 32001 24671 7307 23 21691 20192 1499 53810 2347 51463 11422 11422 TRAINING AND EDUCATION 15241 15241 PROF. MEMBERSHIPS/PERIO 13914 13541 373 3111526 2394436 660970 56120 212749 108468 2696632 2944717 385325 458275 50472 43138 569534 180544 323383 388990 2340941 2163545 6009502 6107133 71583 123068 2474952 2302662 2546535 2425730 X 3460688 3681403 2279 0 3462967 3681403 6009502 6107133 218436 0 X 0 1 X 1 0 X 2771419 4574435 5676350 2910057 2936182 18868443 2771419 4574435 5676350 2910057 2936182 18868443 18868443 21885 19302 8342 19830 105025 174384 1066 7769 56034 1005 811 66685 19109512 1449578 0.98740 0.99240 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 1,066. 2020 AMOUNT: $ 7,769. 2021 AMOUNT: $ 56,034. 2022 AMOUNT: $ 1,005. 2023 AMOUNT: $ 811. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 42000 0 0 42000 0 PART II-B, LINE 1: TO ADVOCATE FOR FUNDING OF STATE ECONOMIC DEVELOPMENT AND FINANCE INCENTIVE PROGRAMS AND SUPPORT OF REGIONAL ECONOMIC DEVELOPMENT PRIORITIES. 1 0 1998000 1998000 0 0 298758 74024 224734 173949 52708 121241 96827 53812 43015 388990 LEASE RIGHT-OF-USE ASSET, NET 2163545 2163545 COMPENSATED ABSENCES 38512 LEASE LIABILITY 2264150 2302662 X 3337712 7750 7750 3329962 0 3329962 3119276 7750 7750 3111526 0 3111526 PART IV, LINE 1B: THE ORGANIZATION SERVES AS A PASSTHROUGH OF PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT GAMING & TOURISM FUNDS WHICH ARE DESIGNATED TO THE DAVINCI SCIENCE CENTER PART X, LINE 2: THE INTERNAL REVENUE SERVICE RECOGNIZES LVEDC AS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE PROVISIONS. INCOME FROM ACTIVITIES NOT DIRECTLY RELATED TO THESE ORGANIZATION'S TAX-EXEMPT PURPOSE, IF ANY, WOULD BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION COMPLIES WITH THE GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. AS OF DECEMBER 31, 2023 AND 2022, LVEDC HAD NO UNCERTAIN TAX POSITIONS. 1 LEHIGH VALLEY ECONOMIC INVESTMENT CORPORATION 520 NORTH NEW STREET BETHLEHEM PA 18018 236296874 501C4 27000 0 PA DCED PARTNERSHIPS FOR REGIONAL PERFORMANCE SUBGRANT MANUFACTURERS RESOURCE CENTER 7200A WINDSOR DRIVE ALLENTOWN PA 18106 232514764 501C3 19000 0 PA DCED PARTNERSHIPS FOR REGIONAL PERFORMANCE SUBGRANT WORKFORCE BOARD LEHIGH VALLEY 555 UNION BLVD ALLENTOWN PA 18109 770699991 501C3 21698 0 PA DCED PARTNERSHIPS FOR REGIONAL PERFORMANCE SUBGRANT 2 1 PART I, LINE 2: THE GRANTS GIVEN ARE PASS-THROUGH FROM ANOTHER GRANT RECEIVED. WE FOLLOW THE GUIDELINES REQUIRED BY THE ORIGINAL GRANTOR. X X X X X 0 0 0 0 0 0 0 0 0 DONALD T CUNNINGHAM JR PRESIDENT/CEO 242389 0 25000 0 0 0 16278 0 17922 0 301589 0 0 0 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 137520 0 3900 0 0 0 8827 0 16803 0 167050 0 0 0 KARIANNE GELINAS VP OF REG PTPS & TALENT ST 124339 0 1500 0 0 0 7729 0 16803 0 150371 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE SERVES AS COMPENSATION COMMITTEE. LUKE CUNNINGHAM WEST SIDE HAMMER E COUSIN OF CEO 10329 PAYMENT FOR ELECTRICAL SERVICES 0 FORM 990, PART VI, SECTION A, LINE 1A THE BYLAWS STATE THEY CAN ACT IN THE ABSENCE OF ACTION OF THE BOARD. THE COMMITTEE MEMBERS ARE PART OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCIAL STATEMENTS, FORM 990 AND PA BCO-10 ARE REVIEWED BY LVEDC'S FINANCE AND ADMIN COMMITTEE AND EXECUTIVE COMMITTEE TO BE ADVANCED FOR FINAL APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS WRITTEN AND MADE AVAILABLE TO THE BOARD AND STAFF UPON START OF A TERM AND ANY CHANGES THEREAFTER. THE ISSUE OF CONFLICT IS ALWAYS TOP OF MIND WITH LEADERSHIP. EMPLOYEES ARE ASKED TO DISCLOSE CONFLICTS UPON EMPLOYMENT AND TO ACKNOWLEDGE THEY MUST INFORM US OF ANY CHANGES THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD DETERMINES COMPENSATION FOR THE CEO. THEY USE COMPARABILITY DATA AND OTHER INFORMATION TO SUPPORT THE EMPLOYMENT AGREEMENT WITH THE CEO. OTHER THAN THE CEO, OFFICERS ARE VOLUNTEERS. COMPENSATION FOR ALL STAFF IS SIMILARLY SUPPORTED BY COMPARABILITY DATA AND OTHER FACTORS TO DETERMINE WAGE SCALES. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST