2026-09-24T10:37:02-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 1525 VALLEY CENTER PARKWAY STE 300 BETHLEHEM PA 180172285 990 2025-01-01 232798276 LEHIGH VALLEY ECONOMIC DEVELOPMENT CORPORATION (LVEDC) LEHI 6102666775 520 N NEW STREET BETHLEHEM PA 18018 DONALD T CUNNINGHAM JR PRESIDENT & CEO 6102666775 2026-09-02 1 CARY J GIACALONE II CPA P01799465 6104335501 2026-09-02 2025 DONALD T CUNNINGHAM JR 520 N NEW STREET BETHLEHEM PA 18018 3570263 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. 34 34 17 36 0 0 2888177 3005103 324998 464222 123690 100188 751 750 3337616 3570263 32000 27000 0 0 2117884 2190261 0 0 76452 1197084 1251444 3346968 3468705 -9352 101558 5938614 5921444 2266563 2147835 3672051 3773609 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 2662618 27000 464222 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. 2662618 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 22 0 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 34 34 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X JAIME MWHALEN 6102666775 520 N NEW STREET BETHLEHEM PA 180185343 DONALD T CUNNINGHAM JR PRESIDENT/CEO 40.00 X X 289622 0 44999 STEPHEN HOFF CHAIR (EFF 3/25, VICE CHAIR PRIOR) 1.00 X X 0 0 0 EDWARD DOUGHERTY CHAIR (THRU 3/25) 1.00 X X 0 0 0 RICHARD REYNOLDS VICE CHAIR (EFF 3/25) 1.00 X X 0 0 0 CHRIS BROWN TREASURER (THRU 3/25) 1.00 X X 0 0 0 SUSAN LARKIN TREASURER (EFF 3/25) 1.00 X X 0 0 0 DAN MCCARTHY SECRETARY 1.00 X X 0 0 0 ADAM GALCZYNSKI BOARD MEMBER (THRU 5/25) 1.00 X 0 0 0 ALEX MICHAELS BOARD MEMBER 1.00 X 0 0 0 ARTHUR DORN BOARD MEMBER 1.00 X 0 0 0 BEN HUSSA BOARD MEMBER 1.00 X 0 0 0 BOB BEGLIOMINI BOARD MEMBER 1.00 X 0 0 0 CAROLYN STENNETT BOARD MEMBER 1.00 X 0 0 0 CHRISTINE MARTIN BOARD MEMBER 1.00 X 0 0 0 DR ANN D BIEBER BOARD MEMBER 1.00 X 0 0 0 DR LISA GREENAWALT BOARD MEMBER 1.00 X 0 0 0 DR TINA Q RICHARDSON BOARD MEMBER (THRU 3/25) 1.00 X 0 0 0 DREW LEWIS BOARD MEMBER (THRU 3/25) 1.00 X 0 0 0 GUNNAR BRUNIUS BOARD MEMBER (THRU 9/25) 1.00 X 0 0 0 HONORABLE DAN HARTZELL BOARD MEMBER 1.00 X 0 0 0 HONORABLE J WILLIAM REYNOLDS BOARD MEMBER 1.00 X 0 0 0 HONORABLE LAMONT MCCLURE BOARD MEMBER 1.00 X 0 0 0 HONORABLE MATT TUERK BOARD MEMBER 1.00 X 0 0 0 HONORABLE PHILLIPS ARMSTRONG BOARD MEMBER 1.00 X 0 0 0 HONORABLE SAL PANTO JR BOARD MEMBER 1.00 X 0 0 0 KASSIE HILGERT BOARD MEMBER 1.00 X 0 0 0 LOREN SPEZIALE BOARD MEMBER 1.00 X 0 0 0 LORI VARGO HEFFNER BOARD MEMBER 1.00 X 0 0 0 MICHAEL LANDSBURG BOARD MEMBER (THRU 3/25) 1.00 X 0 0 0 MICHELE MCGRATH BOARD MEMBER (THRU 3/25) 1.00 X 0 0 0 NATHAN URBAN BOARD MEMBER 1.00 X 0 0 0 NEAL KOPLIN BOARD MEMBER 1.00 X 0 0 0 PAUL ANTHONY BOARD MEMBER 1.00 X 0 0 0 R SCOTT UNGER BOARD MEMBER 1.00 X 0 0 0 RACHEL MCDEVITT BOARD MEMBER 1.00 X 0 0 0 RAYMOND MIDLAM BOARD MEMBER 1.00 X 0 0 0 REV JAMES GREENFIELD BOARD MEMBER 1.00 X 0 0 0 ROB ALBERT BOARD MEMBER 1.00 X 0 0 0 SHELLY MCWILLIAMS BOARD MEMBER 1.00 X 0 0 0 T ANTHONY IANNELLI BOARD MEMBER 1.00 X 0 0 0 TOM IKE BOARD MEMBER 1.00 X 0 0 0 VICKI DOULE BOARD MEMBER 1.00 X 0 0 0 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 40.00 X 155171 0 40138 KARIANNE GELINAS VP OF TALENT STRATEGIES 40.00 X 136328 0 34909 KRISTIN CAHAYLA-HOFFMAN VP OF BUS DVLPMT & ATTRACT 40.00 X 134931 0 34460 NICOLE MERTZ VP MKTG, COMM & RESEARCH 40.00 X 134727 0 33902 DOUG WARFEL DIRECTOR OF ATTRACTION AND LENDING 40.00 X 102314 0 12759 JARRETT WITT DIRECTOR OF BUSINESS DEVELOPMENT 40.00 X 103768 0 30797 1056861 0 231964 7 0 1 0 0 2085618 919485 3005103 ECONOMIC DEVELOPMENT 561000 464222 464222 464222 100188 100188 MISCELLANEOUS INCOME 900099 750 750 750 3570263 464222 0 100938 27000 27000 541698 304494 182379 54825 1304081 1128465 175616 76964 66695 10269 136102 120114 15988 131416 103857 24302 3257 4488 4488 19950 19950 42000 42000 300073 239652 45390 15031 370174 370174 49577 10321 35999 3257 100280 71703 28577 196889 153028 43861 57228 46055 11091 82 61404 61404 10681 10681 PROFESSIONAL MEMBERSHIP 21488 21060 428 TRAINING AND EDUCATION 17212 17212 3468705 2662618 729635 76452 130462 246516 2818239 3035335 598503 450469 65195 51711 578000 292445 336354 285555 1989861 1851858 5938614 5921444 129711 132858 175 0 2136677 2014977 2266563 2147835 X 3672051 3773609 3672051 3773609 5938614 5921444 101558 0 X 1 X 1 X 1 0 X 5676350 2910057 2936182 2888177 3005103 17415869 5676350 2910057 2936182 2888177 3005103 17415869 17415869 8342 19830 105025 123690 100188 357075 56034 1005 811 751 750 59351 17832295 1642869 0.97660 0.98230 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 56,034. 2022 AMOUNT: $ 1,005. 2023 AMOUNT: $ 811. 2024 AMOUNT: $ 751. 2025 AMOUNT: $ 750. 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 0 1998000 1998000 0 0 298758 129602 169156 176919 75120 101799 102323 87723 14600 285555 LEASE RIGHT-OF-USE ASSET, NET 1851858 1851858 COMPENSATED ABSENCES 46801 LEASE LIABILITY 1968176 2014977 X 3596073 25810 25810 3570263 0 3570263 3494515 25810 25810 3468705 0 3468705 PART IV, LINE 1B: THE ORGANIZATION SERVES AS A PASSTHROUGH OF PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT GAMING & TOURISM FUNDS WHICH ARE DESIGNATED BY STATE LAW 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, 2025 AND 2024, 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 1 0 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 1 0 DONALD T CUNNINGHAM JR PRESIDENT/CEO 287622 0 2000 0 0 0 17667 0 27332 0 334621 0 0 0 JAIME M WHALEN EXEC VP & CHIEF OF STAFF 153171 0 2000 0 0 0 9727 0 30411 0 195309 0 0 0 KARIANNE GELINAS VP OF TALENT STRATEGIES 134328 0 2000 0 0 0 8382 0 26527 0 171237 0 0 0 KRISTIN CAHAYLA-HOFFMAN VP OF BUS DVLPMT & ATTRACT 132931 0 2000 0 0 0 8177 0 26283 0 169391 0 0 0 NICOLE MERTZ VP MKTG, COMM & RESEARCH 132727 0 2000 0 0 0 8297 0 25605 0 168629 0 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE SERVES AS COMPENSATION COMMITTEE. PART I, LINE 7 BONUSES WERE ISSUED. FORM 990, PART III, LINE 4A 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. 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 AND CHIEF OF STAFF, ALL OTHER 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