Lehigh Valley Industrial Park Inc
- Assets
- $40.6m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Bethlehem, PA
- Founding
- 05/1961
- Data as of
- 06/2020
- 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 06/2019, 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.
For the year ending 06/2020, Lehigh Valley Industrial Park Inc generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 54.1% each year . All expenses for the organization totaled $2.7m during the year ending 06/2020. While expenses have increased by 27.2% per year over the past 6 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
2020
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 $1,307,311 IN ADDITIONAL LAND DEVELOPMENT COSTS FOR LEHIGH VALLEY PARK VII, THE SALE OF 46.40 ACRES OF LAND FOR $12,000,000 WITH A COST OF SALE ALLOCATION OF $5,336,115 AND CONSTRUCTION OF A 40,000 SQUARE FOOT FLEX INDUSTRIAL BUILDING AT A COST OF $5,110,985.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerry Wrobel President, Secretary | OfficerTrustee | 40 | $254,558 |
David Nepereny Asst. Treasurer | OfficerTrustee | 3 | $0 |
Curtis Barnette Asst. Secretary | OfficerTrustee | 3 | $0 |
Jeffrey Feather Chairman Emeritus | OfficerTrustee | 4 | $0 |
Michael Gausling Chairman | OfficerTrustee | 5 | $0 |
Scott Fainor Asst. Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $322,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $158,263 |
| 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 | $4,015,772 |
| Statement of Expenses | |
|---|---|
| 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. | $293,586 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,471 |
| Payroll taxes | $24,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,422 |
| Fees for services: Accounting | $34,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,187 |
| Advertising and promotion | $8,193 |
| Office expenses | $25,536 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,845 |
| 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 | $3,337 |
| Insurance | $28,236 |
| All other expenses | $0 |
| Total functional expenses | $2,657,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $818,330 |
| Savings and temporary cash investments | $21,595,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,549 |
| 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 | $11,827 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,008,630 |
| Total assets | $40,551,324 |
| Accounts payable and accrued expenses | $234,931 |
| 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 | $45,500 |
| Total liabilities | $280,431 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $40,270,893 |
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 |
|---|---|---|
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $23,297,099 | $21,456,678 |
Columbus Downtown Development Corporation Columbus, OH | $182,459,839 | $20,346,983 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $8,485,398 | $9,681,050 |
Wright Brothers Institute Inc Dayton, OH | $11,248,999 | $11,333,135 |
East Baltimore Development Inc Baltimore, MD | $60,346,855 | $8,629,342 |
Ridc Regional Growth Fund Pittsburgh, PA | $35,182,259 | $7,330,520 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $105,208,880 | $2,390,014 |
Greater Cincinnati Convention & Visitors Bureau Inc Cincinnati, OH | $5,729,711 | $9,894,359 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $7,109,092 | $5,259,727 |
Alleghenies Planning And Development Commission Altoona, PA | $18,621,233 | $8,604,095 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Structured Employment Economic Development Corporation New York, NY | $2,220,740 | $7,904,107 |