2025-08-20T08:45:41-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 1525 VALLEY CENTER PARKWAY STE 300 BETHLEHEM PA 180172285 990 2024-01-01 232798276 LEHIGH VALLEY ECONOMIC DEVELOPMENT CORPORATION (LVEDC) LEHI 6102666775 520 N NEW STREET BETHLEHEM PA 18018 DONALD T CUNNINGHAM JR CEO - PRESIDENT 6102666775 2025-08-11 1 0 CARY J GIACALONE II CPA P01799465 6104335501 2025-08-11 2024 2025-03-06 01:10:19Z DONALD T CUNNINGHAM JR 520 N NEW STREET BETHLEHEM PA 18018 3337616 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. 35 35 16 37 0 0 2936182 2888177 291406 324998 101563 123690 811 751 3329962 3337616 74927 32000 0 0 1934112 2117884 0 0 62245 1102487 1197084 3111526 3346968 218436 -9352 6107133 5938614 2425730 2266563 3681403 3672051 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 2546313 32000 324998 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. 2546313 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 0 0 0 0 0 0 0 0 0 0 0 1 13 0 16 1 0 0 0 0 0 0 0 0 0 0 0 0 X 35 35 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X JAIME M WHALEN 6102666775 520 N NEW STREET BETHLEHEM PA 18018 DONALD T CUNNINGHAM JR PRESIDENT/CEO 40.00 X X 303117 0 36315 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 GALCZYNSKI 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 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 CHRISTINE MARTIN BOARD MEMBER 1.00 X 0 0 0 VICKIE DOULE' BOARD MEMBER 1.00 X 0 0 0 DREW LEWIS BOARD MEMBER 1.00 X 0 0 0 RICHARD REYNOLDS BOARD MEMBER 1.00 X 0 0 0 LORI HEFFNER VARGO BOARD MEMBER 1.00 X 0 0 0 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 40.00 X 156029 0 27459 KARIANNE GELINAS VP OF REG PTPS & TALENT ST 40.00 X 130682 0 26256 KRISTIN CAHAYLA-HOFFMAN VP OF BUS DVLPMT & ATTRACT 40.00 X 129347 0 26032 NICOLE MERTZ VP MKTG, COMM & RESEARCH 40.00 X 132675 0 19220 851850 0 135282 5 0 1 0 0 2017647 870530 2888177 ECONOMIC DEVELOPMENT 900099 324998 324998 324998 123690 123690 MISCELLANEOUS INCOME 900099 751 751 751 3337616 324998 0 124441 32000 32000 522919 299069 168343 55507 1240397 1025749 214648 70790 62674 8116 157541 132324 25217 126237 99366 23584 3287 4175 1175 3000 18979 18979 42000 42000 257556 208619 48908 29 382174 382174 46938 8892 34805 3241 84050 77838 6212 188726 148525 40201 40025 30711 9133 181 22263 20313 1950 61449 61449 10874 10874 TRAINING AND EDUCATION 20598 20598 PROFESSIONAL MEMBERSHIP 17277 16884 393 3346968 2546313 738410 62245 108468 130462 2944717 2818239 458275 598503 43138 65195 573207 236853 388990 336354 2163545 1989861 6107133 5938614 123068 129711 175 2302662 2136677 2425730 2266563 X 3681403 3672051 3681403 3672051 6107133 5938614 -9352 0 X X 0 1 X 1 0 X 4574435 5676350 2910057 2936182 2888177 18985201 4574435 5676350 2910057 2936182 2888177 18985201 18985201 19302 8342 19830 105025 123690 276189 7769 56034 1005 811 751 66370 19327760 1483406 0.98230 0.98740 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 7,769. 2021 AMOUNT: $ 56,034. 2022 AMOUNT: $ 1,005. 2023 AMOUNT: $ 811. 2024 AMOUNT: $ 751. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 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 1998000 1998000 0 0 298759 101814 196945 175075 62011 113064 99373 73028 26345 336354 LEASE RIGHT-OF-USE ASSET, NET 1989861 1989861 COMPENSATED ABSENCES 43556 LEASE LIABILITY 2093121 2136677 X 3356326 18710 18710 3337616 0 3337616 3365678 18710 18710 3346968 0 3346968 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, 2024 AND 2023, 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 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 276617 0 26500 0 0 0 18462 0 17853 0 339432 0 0 0 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 148529 0 7500 0 0 0 9237 0 18222 0 183488 0 0 0 KARIANNE GELINAS VP OF REG PTPS & TALENT ST 129182 0 1500 0 0 0 8034 0 18222 0 156938 0 0 0 KRISTIN CAHAYLA-HOFFMAN VP OF BUS DVLPMT & ATTRACT 127847 0 1500 0 0 0 7862 0 18170 0 155379 0 0 0 NICOLE MERTZ VP MKTG, COMM & RESEARCH 127175 0 5500 0 0 0 8106 0 11114 0 151895 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE SERVES AS COMPENSATION COMMITTEE. 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 A, LINE 7B THE INVESTORS RATIFY THE VOTE FOR MEMBERS ELECTED. THAT IS A GOVERNANCE DECISION. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCIAL STATEMENTS, FORM 990 AND FORM BCO-10 ARE REVIEWED AND ACCEPTED BY LVEDC'S FINANCE AND ADMIN COMMITTEE AND EXECUTIVE COMMITTEE TO BE ADVANCED FOR FINAL APPROVAL BY THE FULL GOVERNING BOARD. 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 FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.