Lehigh Valley Industrial Park Inc
- Assets
- $45.0m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Bethlehem, PA
- Founding
- 05/1961
- Data as of
- 06/2022
- EIN
- 24-0859713
Organization Overview
Lehigh Valley Industrial Park Inc is located in Bethlehem, PA. The organization was established in 1961. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Lehigh Valley Industrial Park Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lehigh Valley Industrial Park Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Lehigh Valley Industrial Park Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.0% each year . All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 21.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS A CATALYST FOR ECONOMIC GROWTH WITHIN THE LEHIGH VALLEY BY PROVIDING COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS AND URBAN SITES THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMPETITIVE, WELL-DESIGNED INDUSTRIAL PARKS THAT ARE ATTRACTIVE TO A DIVERSE GROUP OF INDUSTRIES, WITH THE EMPHASIS ON JOB CREATION AND ENHANCING THE QUALITY OF LIFE IN THE LEHIGH VALLEY. MAJOR ACCOMPLISHMENT FOR THE YEAR INCLUDE INVESTMENT OF $606,628 IN ADDITIONAL LAND DEVELOPMENT COSTS FOR LEHIGH VALLEY PARK VII.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerry Wrobel President, Secretary | OfficerTrustee | 40 | $252,699 |
Justin Ryan Director | 40 | $117,177 | |
Jeffrey Feather Past Chair | OfficerTrustee | 1 | $0 |
Michael Gausling Chairman | OfficerTrustee | 5 | $0 |
Mary Jane Mckeever Treasurer | OfficerTrustee | 4 | $0 |
John D Stanley Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,470,000 |
| Investment income | $25,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $252,119 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,896,006 |
| 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. | $301,478 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,401 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,594 |
| Payroll taxes | $27,681 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,753 |
| Fees for services: Accounting | $37,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,575 |
| Advertising and promotion | $11,201 |
| Office expenses | $39,896 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $417 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,234 |
| Insurance | $30,034 |
| All other expenses | $2,801 |
| Total functional expenses | $2,500,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $774,115 |
| Savings and temporary cash investments | $26,811,254 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,356 |
| 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 | $16,931 |
| Net Land, buildings, and equipment | $12,719,626 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,644,341 |
| Total assets | $44,988,623 |
| Accounts payable and accrued expenses | $105,537 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $71,500 |
| Total liabilities | $177,037 |
| Net assets without donor restrictions | $44,811,586 |
| Net assets with donor restrictions | $0 |
| 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 | $44,988,623 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lehigh Valley Industrial Park Inc has recieved totaling $260,000.
| Awarding Organization | Amount |
|---|---|
Lehigh Valley Community Foundation Allentown, PA PURPOSE: COMMUNITY DEVELOPMENT | $260,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |