Pennsylvania Economy League Inc
- Assets
- $2.6m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 21
- Location
- Philadelphia, PA
- Founding
- 09/1945
- Data as of
- 12/2021
- EIN
- 23-1352264
Organization Overview
Pennsylvania Economy League Inc is located in Philadelphia, PA. The organization was established in 1945. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2021, Pennsylvania Economy League Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Economy League Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Pennsylvania Economy League Inc generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PENNSYLVANIA ECONOMY LEAGUE ("PEL") IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH ENTITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMY LEAGUE OF GREATER PHILADELPHIA IS THE REGION'S INDEPENDENT, NONPARTISAN "THINK-AND-DO" TANK. ELGP ADDRESSES CRITICAL ISSUES FACING GREATER PHILADELPHIA BY PROVIDING IMPACTFUL RESEARCH, CONNECTING DIVERSE LEADERS, AND ADVANCING SHARED SOLUTIONS. ELGP ENVISIONS A THRIVING GREATER PHILADELPHIA REGION POWERED BY INFORMED AND COLLABORATIVE LEADERSHIP.SEE SCHEDULE O FOR CONTINUATION
THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP):ALONG WITH OUR AFFILIATES AND OUR REGIONAL INVESTOR COUNCIL PARTNERS, IN 2021 WE TOOK IMPORTANT STEPS TOWARD ACHIEVING THE VITAL, GLOBALLY COMPETITIVE REGION WE ALL WANT.SEE SCHEDULE O FOR CONTINUATION
CENTRAL PA: THE CONTINUING ISSUE OF LOCAL GOVERNMENT FINANCIAL DISTRESS REMAINS THE CENTER OF THE CENTRAL PA LLC RESEARCH, CIVIC LEADERSHIP EDUCATION, AND PROJECT AGENDAS DURING 2021. THE COVID-19 PANDEMIC, RISING INFLATION, AND UNCERTAIN ECONOMIC REALITIES ONLY STRENGTHEN THE NEED FOR FOCUS ON LOCAL GOVERNMENT FISCAL DISTRESS. SEE SCHEDULE O FOR CONTINUATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Hornstein Executive Director | OfficerTrustee | 40 | $168,116 |
Nicholas Frontino Managing Director | 1 | $119,439 | |
Fred Callahan Treasurer/acting Chair (enter 4/21) | OfficerTrustee | 1 | $0 |
Gregory J Nowak Chair And President (deceased 4/21) | OfficerTrustee | 1 | $0 |
Keith Dorman Director | Trustee | 1 | $0 |
Stuart G Hoffman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $386,634 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,153,926 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,540,560 |
| Total Program Service Revenue | $1,509,226 |
| Investment income | $305 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,605 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,041,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $187,644 |
| Compensation of current officers, directors, key employees. | $32,621 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,397 |
| Pension plan accruals and contributions | $29,467 |
| Other employee benefits | $99,391 |
| Payroll taxes | $101,667 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,846 |
| Fees for services: Accounting | $158,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $518,310 |
| Advertising and promotion | $41,581 |
| Office expenses | $66,546 |
| Information technology | $61,555 |
| Royalties | $0 |
| Occupancy | $175,590 |
| Travel | $18,503 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,395 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,063 |
| Insurance | $36,733 |
| All other expenses | $34,007 |
| Total functional expenses | $3,782,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $740,819 |
| Savings and temporary cash investments | $913,562 |
| Pledges and grants receivable | $893,288 |
| Accounts receivable, net | $4,412 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $51,800 |
| Net Land, buildings, and equipment | $23,880 |
| Investments—publicly traded securities | $2,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,206 |
| Total assets | $2,641,467 |
| Accounts payable and accrued expenses | $290,187 |
| Grants payable | $0 |
| Deferred revenue | $127,173 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $254,042 |
| Other liabilities | $2,142,412 |
| Total liabilities | $2,813,814 |
| Net assets without donor restrictions | -$1,046,875 |
| Net assets with donor restrictions | $874,528 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,641,467 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Pennsylvania Economy League Inc has recieved totaling $1,549,234.
| Awarding Organization | Amount |
|---|---|
Allegheny Conference On Community Development Pittsburgh, PA PURPOSE: OPERATING SUPPORT | $1,121,534 |
Allegheny Conference On Community Development Pittsburgh, PA PURPOSE: PROJECT SUPPORT | $187,700 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $125,000 |
Philadelphia Foundation Philadelphia, PA PURPOSE: LEADERSHIP | $100,000 |
Cozen Oconnor Foundation Inc Philadelphia, PA PURPOSE: CHARITABLE CONTRIBUTION - UNRESTRICED TO SUPPORT NON-PROFITS MISSION. | $10,000 |
Connelly Foundation West Conshohocken, PA PURPOSE: GENERAL SUPPORT - FDG | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lankenau Institute For Medical Research Wynnewood, PA | $8,021,343 | $9,109,367 |
Tri-Institutional Therapeutics Discovery Institute Inc New York, NY | $5,819,394 | $16,905,997 |
Zachary And Elizabeth M Fisher Center For Alzheimers Research Fdn New York, NY | $40,802,431 | $10,021,313 |
Coalition Of Cancer Cooperative Groups Philadelphia, PA | $21,235,863 | $14,701,631 |
American Thrombosis And Hemostasisnetwork Inc Rochester, NY | $10,168,996 | $13,364,540 |
University Of Maryland Family Medicine Associates Pa Baltimore, MD | $1,189,573 | $10,954,092 |
Football Research Inc New York, NY | $4,325,864 | $9,164,438 |
National Disease Research Interchange Philadelphia, PA | $6,059,781 | $7,072,153 |
Bronx Veterans Medical Research Foundation Inc Bronx, NY | $9,078,068 | $8,272,955 |
Citizens Committee For Children Of New York New York, NY | $3,634,711 | $3,821,090 |
Cleveland Va Medical Research And Education Foundation Cleveland, OH | $5,763,350 | $4,153,737 |
Pennsylvania Economy League Inc Philadelphia, PA | $2,641,467 | $4,041,486 |