2025-06-24T08:23:04-05:00 2024-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2024-01-01 236392284 GREATER BERKS DEVELOPMENT FUND GREA 6103766766 606 COURT ST 100 READING PA 19601 DEBRA MILLMAN PRESIDENT 6108987798 2025-06-23 1 0 RUTHANN J WOLL CPA P00647342 6103761595 2025-06-23 2024 2025-03-06 01:10:19Z DEBRA MILLMAN 606 COURT ST 100 READING PA 19601 7708014 0 X WWW.GREATERREADING.ORG X 1947 PA THE GREATER BERKS DEVELOPMENT FUND AIDS AND PROMOTES ECONOMIC AND INDUSTRIAL EXPANSION, AND CONTRIBUTES TO THE ECONOMIC WELL-BEING OF READING AND BERKS COUNTY BY FACILITATING, PROMOTING, AND PARTICIPATING IN AND FINANCING ECONOMIC DEVELOPMENT AND COMMUNITY REVITALIZATION PROJECTS. 18 16 0 16 0 0 205539 1156228 2765638 2817298 426952 833064 12875 47018 3411004 4853608 0 0 0 0 612123 594261 0 0 0 2680919 3194923 3293042 3789184 117962 1064424 36750712 35401732 19244291 16893006 17506421 18508726 X THE GREATER BERKS DEVELOPMENT FUND AIDS AND PROMOTES ECONOMIC AND INDUSTRIAL EXPANSION, AND CONTRIBUTES TO THE ECONOMIC WELL-BEING OF READING AND BERKS COUNTY BY FACILITATING, PROMOTING, AND PARTICIPATING IN, AND FINANCING ECONOMIC DEVELOPMENT AND COMMUNITY REVITALIZATION PROJECTS CONSISTENT WITH THE NEEDS OF THE COMMUNITY, WITH THE INTENTION OF EFFECTUATING POSITIVE CHANGE IN THE ECONOMIC OPPORTUNITIES AVAILABLE TO RESIDENTS AND BUSINESSES BY CREATING JOBS AND INDUCING PRIVATE INVESTMENT. 0 0 3289601 0 2857234 THE FUND GRANTS REAL ESTATE AND MACHINERY & EQUIPMENT-RELATED LOANS AND ASSISTS IN OTHER ECONOMIC AND INDUSTRIAL-TYPE LENDING TO AID AND PROMOTE THE ECONOMIC AND INDUSTRIAL EXPANSION IN READING & BERKS COUNTY. 3289601 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 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 1 0 0 1 X 8 0 1 0 0 0 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DEBRA MILLMAN 6108987798 606 COURT STREET SUITE 100 READING PA 19601 DANIEL R LANGDON CHAIRMAN OF THE BOARD 1.00 1.00 X X 0 0 0 ERNEST J CHOQUETTE ESQ VICE CHAIRMAN 1.00 1.00 X X 0 0 0 DEBRA L MILLMAN PRESIDENT 35.00 5.00 X X 0 167531 25425 MICHAEL A DUFF SECRETARY 1.00 1.00 X X 0 0 0 MICHAEL VIND TREASURER 1.00 1.00 X X 0 0 0 CHARLES F BARBERA MD BOARD MEMBER 1.00 0.00 X 0 0 0 JOSEPH N BUTTO BOARD MEMBER 1.00 0.00 X 0 0 0 GLYNIS FITZGERALD BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN HANNA BOARD MEMBER 1.00 0.00 X 0 0 0 GINGER KUNKEL BOARD MEMBER 1.00 1.00 X 0 0 0 SUSAN D LOONEY BOARD MEMBER 1.00 1.00 X 0 0 0 JAMEY MAACK BOARD MEMBER 1.00 1.00 X 0 0 0 TIMOTHY D ROMIG BOARD MEMBER 1.00 0.00 X 0 0 0 JEFFERY R RUSH BOARD MEMBER 1.00 1.00 X 0 0 0 JOSEPH J SIGLE BOARD MEMBER 1.00 0.00 X 0 0 0 NICK STOLTZFUS BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTINA L WEEBER BOARD MEMBER 1.00 1.00 X 0 0 0 LUCINE SIHELNIK CEO 10.00 30.00 X X 0 184689 26454 SARA STEWART ASST TREASURER 20.00 20.00 X 0 165305 16762 0 517525 68641 0 0 1 0 PARCON CLEANING 1868 WEAVERTOWN ROAD DOUGLASSVILLE PA 19518 PROVIDES CLEANING SERVICES 239632 SCIENTIFIC BASED SOLUTIONS LLC 612 CARSONIA AVENUE READING PA 19606 ENVIRONMENTAL ASSESSMENT/INVESTIGATION 123867 2 1156228 1156228 GATEWAY BLDG OPERATIONS 531120 2572226 2572226 COURT STREET OPERATIONS 531120 245072 245072 2817298 606799 606799 3080671 2854406 226265 226265 226265 ADMINISTRATIVE FEES 525990 39936 39936 OTHER INCOME 525990 7082 7082 47018 4853608 2857234 0 840146 276813 145207 131606 247061 140804 106257 20758 11680 9078 4168 1118 3050 45461 24752 20709 80686 80686 2646 2646 28621 28621 39969 39969 8113 8113 43237 43237 127717 127717 GATEWAY BUILDING OPERAT 1856267 1856267 DEVELOPMENT 460776 451253 9523 606 COURT ST BUILDING O 366201 366201 BERN LAND DEVELOPMENT O 164602 164602 16088 16088 3789184 3289601 499583 0 523060 538932 148822 543718 6364190 6146247 73080 70770 34903604 17741188 17235947 17162416 10460467 9617011 710173 0 1234973 1322638 36750712 35401732 450090 205611 3362982 3060692 14662892 12907983 768327 718720 19244291 16893006 X 17506421 18508726 17506421 18508726 36750712 35401732 X 1064424 494877 -556996 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3184365 3184365 29735485 17697643 12037842 43545 43545 0 1940209 1940209 17162416 X 2348361 494877 81393 576270 1772091 39969 3041548 3081517 4853608 1346057 0 1346057 39969 2403158 2443127 3789184 PART X, LINE 2: AS A NOT-FOR-PROFIT ORGANIZATION, THE FUND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THEREFORE, THE FUND HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FUND IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE FUND RECOGNIZES PENALTIES AND INTEREST ACCRUED RELATED TO INCOME TAX LIABILITIES IN THE PROVISION (BENEFIT) FOR INCOME TAXES IN ITS STATEMENT OF ACTIVITIES. AT DECEMBER 31, 2024 AND 2023, THERE WAS NO ACCRUAL FOR THE PAYMENT OF PENALTIES AND INTEREST. WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION, ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. THE FUND FILES INFORMATIONAL RETURNS (IRS FORM 990) IN THE U.S. FEDERAL JURISDICTION. THE FUND'S TAX RETURNS ARE NOT SUBJECT TO EXAMINATION THROUGH THE YEAR ENDED DECEMBER 31, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN NET INCOME OF AFFILIATE 9,771. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 71,622. PART XI, LINE 4B - OTHER ADJUSTMENTS: BERN LAND DEVELOPMENT OPERATIONS 164,602. 606 COURT STREET OPERATIONS 366,201. GATEWAY BUILDING OPERATIONS 1,856,267. DEPRECIATION ADJUSTMENT 638,390. PROVISION FOR LOAN LOSS 16,088. PART XII, LINE 4B - OTHER ADJUSTMENTS: BERN PROPERTY OPERATIONS 164,602. 606 COURT STREET OPERATIONS 366,201. GATEWAY BUILDING OPERATIONS 1,856,267. PROVISION FOR LOAN LOSS 16,088. 0 0 0 0 0 0 0 0 0 LUCINE SIHELNIK CEO 0 184689 0 0 0 0 0 11081 0 15373 0 211143 0 0 DEBRA L MILLMAN PRESIDENT 0 167531 0 0 0 0 0 10052 0 15373 0 192956 0 0 SARA STEWART ASST TREASURER 0 165305 0 0 0 0 0 9918 0 6844 0 182067 0 0 PART I, LINE 3 PLEASE NOTE THAT THE WAGES REPORTED IN SCHEDULE J REFLECT COMPENSATION FROM RELATED ORGANIZATIONS. ONLY A PORTION OF THESE WAGES IS INCLUDED IN THIS RETURN ON PART IX, CORRESPONDING TO THE TIME AND SERVICES DEDICATED TO THE ACTIVITIES OF THIS ORGANIZATION. THE REPORTED AMOUNTS ARE IN ACCORDANCE WITH THE ALLOCATION RULES AS PER THE IRS GUIDELINES FOR RELATED ORGANIZATIONS. FORM 990, PART V, LINE 1C THE ORGANIZATION DID NOT HAVE ANY INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED; HOWEVER, IF THE SITUATION WOULD ARISE, THE ORGANIZATION IS AWARE OF THE REPORTING REQUIREMENTS AND WOULD HANDLE THAT ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS SENT ELECTRONICALLY TO THE BOARD FOR APPROVAL FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY. ACTUAL CONFLICTS ARE REVIEWED BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BOOK DEPRECIATION GREATER THAN TAX DEPRECIATION -638,390. EQUITY IN NET INCOME OF AFFILIATE 9,772. CHANGE IN FAIR VALUE OF INTEREST RATE 71,622. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART IX, LINE 24A GATEWAY BUILDING OPERATIONS: INTEREST 292,555 UTILITIES 199,415 REPAIRS & MAINTENANCE 409,378 ADMINISTRATIVE 49,711 TAXES AND INSURANCE 219,812 MANAGEMENT FEE 27,988 DEPRECIATION 650,000 AMORTIZATION 6,388 PROFESSIONAL FEES 1,020 ------------------- TOTAL GATEWAY BUILDING OPERATIONS 1,856,267 FORM 990, PART IX, LINE 24C 606 COURT STREET BUILDING OPERATIONS: UTILITIES 93,876 REPAIRS & MAINTENANCE 106,070 ADMINISTRATIVE 33,311 TAXES AND INSURANCE 34,739 MANAGEMENT FEE 10,562 DEPRECIATION 35,007 AMORTIZATION 2,218 INTEREST 46,449 PROFESSIONAL FEES 3,969 -------------- TOTAL 606 COURT STREET BUILDING OPERATIONS 366,201 FORM 990, PART IX, LINE 24E BERN LAND DEVELOPMENT OPERATIONS: TAXES AND INSURANCE 114,193 INTEREST 43,959 AMORTIZATION 6,450 ------------- TOTAL BERN LAND DEVELOPMENT OPERATIONS 164,602 GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION 606 COURT STREET SUITE 100 READING PA 19601 814279395 FOSTER ECONOMIC DEVELOPMENT AND GROWTH PA 501(C)(3) LINE 7 0 GREATER READING CHAMBER OF COMMERCE AND INDUSTRY 606 COURT STREET SUITE 100 READING PA 19601 231003440 CHAMBER OF COMMERCE PA 501(C)(6) 0 BERKS COUNTY CHAMBER FOUNDATION 606 COURT STREET SUITE 100 READING PA 19601 222661138 ADVANCEMENT PA 501(C)(3) LINE 7 0 1 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION A 107485 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION J 107485 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION M 82996 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION O 674973 FMV