2026-08-07T12:07:08-05:00 2025-09-30 251622758 MAHER DUESSEL CPA'S 503 MARTINDALE STREET SUITE 600 PITTSBURGH PA 15212 990 2024-10-01 251598389 WASHINGTON COUNTY COUNCIL ON ECONOMIC DEVELOPMENT WASH 7242258223 273 S MAIN STREET WASHINGTON PA 15301 TIMOTHY JAMES ACTING EXECUTIVE DIRECTOR 7242258223 2026-08-07 1 0 BRIAN T MCCALL P01305341 4124715500 2024 2025-03-06 01:10:19Z TIMOTHY JAMES 273 S MAIN STREET WASHINGTON PA 15301 291719 0 X WWW.WASHINGTONCOUNTYPA.ORG X 1989 PA WASHINGTON COUNTY COUNCIL ON ECONOMIC DEVELOPMENT (WCCED) IS DEDICATED TO A MISSION OF COMMUNITY ECONOMIC DEVELOPMENT. 3 3 6 3 0 0 319098 66320 181201 150171 1109250 9886 18691 65342 1628240 291719 0 0 0 0 352011 376867 0 0 0 427136 405690 779147 782557 849093 -490838 23579599 4942573 12069631 1025673 11509968 3916900 WASHINGTON COUNTY COUNCIL ON ECONOMIC DEVELOPMENT (WCCED) IS DEDICATED TO A MISSION OF COMMUNITY ECONOMIC DEVELOPMENT. 0 0 627561 215513 SBA MICROLOAN PROGRAMS - LOANS TO ASSIST SMALL BUSINESSES WITH THE GOAL OF JOB CREATION. IRP AND CDFI LOAN PROGRAMS - GOVERNMENT ASSISTED LENDING TO QUALIFIED BUSINESSES. VARIOUS LOAN PROGRAMS INCLUDING: BENEDUM LOAN PROGRAM, MAIN STREET LOAN PROGRAM, AND ARC PROJECT. AT SEPTEMBER 30, 2025, THERE WERE MULTIPLE LOANS OUTSTANDING TO QUALIFYING BUSINESSES UNDER THESE PROGRAMS. 627561 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 0 X TIMOTHY JAMES - ACTING EXECUTIVE DIRECTOR 7242258223 273 S MAIN STREET WASHINGTON PA 15301 RICHARD L WHITE CHAIRMAN 2.00 X X 0 0 0 J LYNN DEHAVEN VICE CHAIRMAN 2.00 X X 0 0 0 ROBERT GRIFFIN SECRETARY 2.00 X X 0 0 0 MARTY BEICHNER DIRECTOR 0.00 X 0 0 0 NICK SHERMAN DIRECTOR 0.00 X 0 0 0 RICHARD SAHAR EXECUTIVE DIRECTOR 40.00 X 89285 0 7693 89285 0 7693 0 0 0 0 0 65820 500 66320 LOAN INTEREST 900099 150171 150171 150171 9886 9886 OTHER INCOME 900099 65342 65342 65342 291719 215513 0 9886 99064 91836 7228 139627 139627 40228 14159 26069 70945 41015 29930 27003 22463 4540 19257 19257 34464 18036 16428 891 891 17245 15058 2187 18503 10584 7919 23688 23688 8398 7947 451 6532 6532 47039 3699 43340 7726 421 7305 CREDIT LOSS EXPENSE 204629 204629 0 MISCELLANEOUS 10505 1544 8961 DUES AND SUBSCRIPTIONS 6813 6175 638 782557 627561 154996 0 3686161 2434823 105239 64820 2733872 2301605 21779 2598 1177861 1039134 172513 138727 16860035 0 23579599 4942573 8369225 98706 3680961 926967 19445 0 12069631 1025673 X 11359968 3766900 150000 150000 11509968 3916900 23579599 4942573 X -490838 -7102230 0 X X 0 0 1 0 X 1274901 528852 380157 319098 66320 2569328 1274901 528852 380157 319098 66320 2569328 2569328 7813 21814 41606 128696 9886 209815 45659 16804 130622 1256647 65342 1515074 4294217 969864 0.59830 0.75450 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 45,659. 2021 AMOUNT: $ 16,804. 2022 AMOUNT: $ 130,622. 2023 AMOUNT: $ 1,256,647. 2024 AMOUNT: $ 65,342. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1137269 1002957 134312 40592 36177 4415 138727 FORM 990, PART VI, SECTION A, LINE 8A BOARD DELIBERATIONS AND ACTIONS WERE COMMUNICATED AND TRACKED PRIMARILY THROUGH INFORMAL NOTES. WCCED DID NOT CONTEMPORANEOUSLY PREPARE AND APPROVE FORMAL WRITTEN MINUTES FOR EVERY MEETING OR WRITE ACTION DURING THE YEAR. ACCORDINGLY, LINE 8A IS ANSWERED 'NO'. WCCED BOARD MINUTES HAVE BEEN RETAINED BEGINNING JANUARY 2025. WCCED IMPLEMENTED A DOCUMENTATION RETENTION AND DESTRUCTION POLICY THAT WAS PUT IN PLACE IN MARCH 2026. FORM 990, PART VI, SECTION A, LINE 8B WCCED DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY, OUTSIDE OF THE EXECUTIVE COMMITTEE IN WHICH MINUTES HAVE NOT BEEN PERFORMED. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED AND APPROVED BY MANAGEMENT THEN WAS GIVEN TO THE EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL. THE APPROVED FORM 990 WAS THEN FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE JANUARY EXECUTIVE COMMITTEE MEETING MEMBERS OF THE EXECUTIVE COMMITTEE AND STAFF OF WCCED COMPLETE CONFLICT OF INTEREST DISCLOSURES. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE BOARD CONDUCTS ANNUAL RESEARCH ON THE COST OF LIVING IN THE AREA TO DETERMINE THE AMOUNT FOR COMPENSATION INCREASES FOR THE STAFF. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 3B: THE AUDIT IS IN PROCESS BUT NOT COMPLETED AT THE TIME OF COMPLETION OF THIS FORM. THE AUDIT IS ANTICIPATED TO BE COMPLETED SEPTEMBER 2026. FORM 990, PART XI, LINE 8, PRIOR PERIOD ADJUSTMENTS DURING THE CURRENT YEAR, THE COUNCIL RECORDED A PRIOR PERIOD ADJUSTMENT OF APPROXIMATELY $7.1 MILLION TO CONFORM THE FORM 990 TO THE COUNCIL'S FINALIZED BOOKS AND RECORDS AND FINANCIAL STATEMENT PRESENTATION. THE PRIOR YEAR FORM 990 WAS PREPARED AND FILED BEFORE RECEIPT OF THE FINAL ADJUSTED TRIAL BALANCE AND, AS A RESULT, DID NOT REFLECT ALL FINAL PRIOR YEAR ADJUSTMENTS. INCLUDED IN THIS PRIOR PERIOD ADJUSTMENT WAS AN ACCOUNTING LOSS OF APPROXIMATELY $6.8 MILLION RELATED TO A VALUATION ADJUSTMENT NECESSARY TO REFLECT THE KNOWN SALE PRICE OF THE STARPOINTE INDUSTRIAL PARK. ON NOVEMBER 26, 2024, THE COUNCIL SOLD THE STARPOINTE INDUSTRIAL PARK TO ALTIAN DEVELOPMENT LLC FOR $4,750,000. AT THE TIME OF SALE, THE PROPERTY'S BOOK VALUE WAS $11,563,187 AND ITS FAIR MARKET VALUE WAS $4,049,904. FAIR MARKET VALUE WAS DETERMINED BASED ON THE ASSESSED VALUE OF $2,913,600 MULTIPLIED BY THE COMMON LEVEL RATIO OF 1.39 FOR THE PERIOD JULY 1, 2024 THROUGH JUNE 30, 2025. ALTHOUGH THE SALE OCCURRED IN FISCAL YEAR 2025, THE RELATED WRITE-DOWN WAS DETERMINED, FOR FINANCIAL STATEMENT PURPOSES, TO RELATE TO FISCAL YEAR 2024. ACCORDINGLY, THE AMOUNT IS REPORTED ON THE CURRENT YEAR FORM 990 AS A PRIOR PERIOD ADJUSTMENT IN PART XI, LINE 8, RATHER THAN AS CURRENT YEAR GAIN OR LOSS ACTIVITY. THIS PRESENTATION ALLOWS THE FORM 990 TO REFLECT THE SAME UNDERLYING TRANSACTION DESCRIBED FOR THE STARPOINTE SALE WITHOUT CHARACTERIZING THE FULL AMOUNT AS A CURRENT-YEAR DISPOSAL LOSS. THIS TREATMENT ALIGNS THE FORM 990 WITH THE COUNCIL'S FINALIZED BOOKS AND RECORDS AND FINANCIAL STATEMENT PRESENTATION. IN ADDITION, THE ADJUSTMENT AFFECTED NET ASSETS AND FUND BALANCES ONLY AND DID NOT AFFECT GROSS RECEIPTS, SCHEDULE A PUBLIC SUPPORT, SCHEDULE B REPORTING, OR OTHER SCHEDULES.