Greater Wilkes-Barre Industrial Fund Inc
- Assets
- $1.7m
- Revenue
- $7.4m
- Investments
- $50.0k
- Employees
- 0
- Location
- Wilkesbarre, PA
- Founding
- 12/1955
- Data as of
- 12/2021
- EIN
- 24-6024395
Organization Overview
Greater Wilkes-Barre Industrial Fund Inc is located in Wilkesbarre, PA. The organization was established in 1955. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Wilkes-Barre Industrial Fund Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Greater Wilkes-Barre Industrial Fund Inc generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 42.5% each year . All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 44.6% 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.
Since 2015, Greater Wilkes-Barre Industrial Fund Inc has awarded 112 individual grants totaling $7,887,563. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE AND IMPROVE THE INDUSTRIAL GROWTH IN THE WYOMING VALLEY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTED AS AN AGENT TO OBTAIN LOW INTEREST FINANCING FROM LOCAL BANKS AND THE PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY (PIDA) FOR BUSINESS ENTERPRISES TO ACQUIRE OR CONSTRUCT PROPERTY. ALSO ACTED AS AN AGENT IN THE ISRP (INDUSTRIAL SITES REUSE PROGRAM) AND THE PENNDOT MULTIMODAL GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Beer Secretary | OfficerTrustee | 0.2 | $0 |
Teri Ooms Board Vice Chair | OfficerTrustee | 0.2 | $0 |
Carol Keup Board Chair | OfficerTrustee | 0.2 | $0 |
Barbara Toczko-Macullocl Treasurer | OfficerTrustee | 0.2 | $0 |
Lindsay Griffin Chief Executive Officer | Officer | 7.5 | $0 |
Matthew Bickert Chief Financial Officer | Officer | 7.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,655,898 |
| 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 | $3,655,898 |
| Total Program Service Revenue | $3,667,065 |
| Investment income | $22,045 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$569 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,409,722 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,982,703 |
| 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. | $75,916 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,591 |
| Payroll taxes | $6,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,542 |
| Fees for services: Accounting | $6,415 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,555 |
| Advertising and promotion | $0 |
| Office expenses | $4,582 |
| Information technology | $444 |
| Royalties | $0 |
| Occupancy | $5,610 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $4,436 |
| All other expenses | $666 |
| Total functional expenses | $6,188,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,565 |
| Savings and temporary cash investments | $1,326,198 |
| Pledges and grants receivable | $123,655 |
| Accounts receivable, net | $0 |
| 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 | $28,869 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,685,287 |
| Accounts payable and accrued expenses | $138,485 |
| Grants payable | $0 |
| Deferred revenue | $1,322,500 |
| 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 | $788,913 |
| Total liabilities | $2,249,898 |
| Net assets without donor restrictions | -$564,611 |
| 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 | $1,685,287 |
Grants Awarded
Over the last fiscal year, Greater Wilkes-Barre Industrial Fund Inc has awarded $2,210,000 in support to 101 organizations.
| Grant Recipient | Amount |
|---|---|
S&B RESTAURANT INC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $50,000 |
GUS GENETTI HOTEL & RESTAURANT OF WILKES BARRE INC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $45,000 |
ROKOM INC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $45,000 |
JR MSPD LLC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $45,000 |
880 GAYATRI LLC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $40,000 |
ARENA BAR AND GRILL INC PURPOSE: AWARD FROM LUZERNE COUNTY CHIRP PROGRAM TO ASSIST IN COVERING EXPENSES | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
34th Street Partnership Inc New York, NY | $17,652,180 | $14,359,330 |
Grand Central Partnership Inc New York, NY | $10,906,247 | $13,880,529 |
Pennsylvania Compensation Rating Bureau Philadelphia, PA | $10,444,965 | $13,500,527 |
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Can Do Inc Hazleton, PA | $88,120,031 | $19,938,198 |
York County Economic Alliance York, PA | $4,435,375 | $9,671,986 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
Greater Wilkes-Barre Industrial Fund Inc Wilkesbarre, PA | $1,685,287 | $7,409,722 |
Broad Hollow Bioscience Park Inc Farmingdale, NY | $30,625,721 | $3,689,454 |
Better Business Bureau Of Metropolitan New York Inc New York, NY | $2,973,168 | $5,685,810 |