2026-07-28T10:53:49-05:00 2025-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2025-01-01 236392284 GREATER BERKS DEVELOPMENT FUND GREA 6103766766 606 COURT ST 100 READING PA 19601 DEBRA MILLMAN PRESIDENT 6108987798 2026-07-27 1 RUTHANN J WOLL CPA P00647342 6103761595 2026-07-27 2025 2025-03-06 01:10:19Z DEBRA MILLMAN 606 COURT ST 100 READING PA 19601 8861217 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 1156228 458159 2817298 3177717 833064 979261 47018 152255 4853608 4767392 0 0 0 0 594261 591834 0 0 0 3194923 3193729 3789184 3785563 1064424 981829 35401732 36710746 16893006 17464178 18508726 19246568 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 3248254 3212917 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. 3248254 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 1 0 0 0 0 0 0 0 0 0 1 0 0 1 X 13 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 172885 35035 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 JEFFREY 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 195332 25978 SARA STEWART ASST TREASURER 20.00 20.00 X 0 178088 22526 0 546305 83539 0 0 1 0 PARCON CLEANING 1868 WEAVERTOWN ROAD DOUGLASSVILLE PA 19518 PROVIDES CLEANING SERVICES 262036 B W MILLER CONSTRUCTION LLC 292 N LIMERICK ROAD SCHWENKSVILLE PA 19473 FACILITIES MANAGEMENT 145673 WOLFE ROOFING A TECTA AMERICA CO LLC 3907 POTTISVILLE PIKE READING PA 19605 ROOFING 127500 3 91289 366870 458159 GATEWAY BLDG OPERATIONS 531120 2855705 2855705 COURT STREET OPERATIONS 531120 322012 322012 3177717 505325 505325 4567761 4093825 473936 473936 473936 OTHER INCOME 525990 117055 117055 ADMINISTRATIVE FEES 525990 35200 35200 152255 4767392 3212917 0 1096316 297647 156449 141198 235306 105737 129569 20764 9829 10935 2584 2584 35533 17375 18158 76779 76779 1965 1965 34140 34140 39422 39422 7128 7128 44066 44066 95600 95600 GATEWAY BUILDING OPERAT 2197266 2197266 606 COURT ST BUILDING O 387901 387901 DEVELOPMENT 168037 168037 BERN LAND DEVELOPMENT O 110060 110060 31365 31365 3785563 3248254 537309 0 538932 415475 543718 161401 0 1400000 6146247 4137013 70770 70000 37219569 19071569 17162416 18148000 9617011 11201300 1322638 1177557 35401732 36710746 205611 264419 3060692 3260401 12907983 13270742 718720 668616 16893006 17464178 X 18508726 19246568 18508726 19246568 35401732 36710746 X 981829 479174 -723161 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3184365 3184365 31879891 19028024 12851867 43545 43545 0 2111768 2111768 18148000 X 1757391 479174 -159389 319785 1437606 39422 3290364 3329786 4767392 1019549 0 1019549 39422 2726592 2766014 3785563 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, 2025 AND 2024, 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, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN NET INCOME OF AFFILIATE 5,371. CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS -164,760. PART XI, LINE 4B - OTHER ADJUSTMENTS: BERN LAND DEVELOPMENT OPERATIONS 110,060. 606 COURT STREET OPERATIONS 373,284. GATEWAY BUILDING OPERATIONS 2,197,266. DEPRECIATION ADJUSTMENT 578,389. PROVISION FOR LOAN LOSS 31,365. PART XII, LINE 4B - OTHER ADJUSTMENTS: BERN PROPERTY OPERATIONS 110,060. 606 COURT STREET OPERATIONS 387,901. GATEWAY BUILDING OPERATIONS 2,197,266. PROVISION FOR LOAN LOSS 31,365. 0 0 0 0 0 0 0 0 0 LUCINE SIHELNIK CEO 0 195332 0 0 0 0 0 11720 0 14258 0 221310 0 0 DEBRA L MILLMAN PRESIDENT 0 172885 0 0 0 0 0 10373 0 24662 0 207920 0 0 SARA STEWART ASST TREASURER 0 178088 0 0 0 0 0 10685 0 11841 0 200614 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. ALAN SHUMAN MEMBER OF RELATED ORGANIZATION WELLS FARGO BUILDING X 900000 900000 1 1 1 ALAN SHUMAN MEMBER OF RELATED ORGANIZATION ELKS CLUB BUILDING X 500000 500000 0 1 1 1400000 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 -563,772. EQUITY IN NET INCOME OF AFFILIATE 5,371. CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS -164,760. 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 292,732 UTILITIES 232,626 REPAIRS & MAINTENANCE 479,091 ADMINISTRATIVE 3,448 TAXES AND INSURANCE 224,158 MANAGEMENT FEE 27,597 DEPRECIATION 695,739 AMORTIZATION 6,388 PROFESSIONAL FEES 235,486 ------------------- TOTAL GATEWAY BUILDING OPERATIONS 2,197,265 FORM 990, PART IX, LINE 24B 606 COURT STREET BUILDING OPERATIONS: UTILITIES 70,262 REPAIRS & MAINTENANCE 93,343 ADMINISTRATIVE 2,678 TAXES AND INSURANCE 35,261 MANAGEMENT FEE 10,871 DEPRECIATION 70,870 AMORTIZATION 2,218 INTEREST 43,871 PROFESSIONAL FEES 58,527 -------------- TOTAL 606 COURT STREET BUILDING OPERATIONS 387,901 FORM 990, PART IX, LINE 24E BERN LAND DEVELOPMENT OPERATIONS: TAXES AND INSURANCE 65,700 INTEREST 37,910 AMORTIZATION 6,450 ------------- TOTAL BERN LAND DEVELOPMENT OPERATIONS 110,060 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 1 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION A 106921 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION C 91289 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION J 106921 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION M 116016 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION O 597190 FMV