Valley Economic Development Partners Inc
- Assets
- $51.0m
- Revenue
- $7.4m
- Investments
- $21.1k
- Employees
- 9
- Location
- Youngstown, OH
- Founding
- 06/1979
- Data as of
- 12/2021
- EIN
- 34-1264163
Organization Overview
Valley Economic Development Partners Inc, operating under the name Valley Partners, is located in Youngstown, OH. The organization was established in 1979. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Valley Partners employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Partners 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, Valley Partners 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 30.6% each year . All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 11.9% 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 2020, Valley Partners has awarded 538 individual grants totaling $5,592,653. 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
EMPOWERING ENTREPRENEURS BY ASSISTING IN JOB CREATION AND PROVIDING LOAN PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES THROUGH BUSINESS CREATION, EXPANSION, AND RETENTION. DEVELOP AND OPERATE A DIVERSIFIED PORTFOLIO OF LOAN PROGRAMS AND OTHER SERVICES TO ADDRESS THE NEEDS OF REGIONAL BUSINESSES. ESTABLISH AND MAINTAIN STRONG RELATIONSHIPS WITH FINANCIAL, EDUCATIONAL, BUSINESS, GOVERNMENT, AND DEVELOPMENT ORGANIZATIONS AND ATTRACT INVESTORS FOR NEW BUSINESS OPPORTUNITIES. DURING 2021, VALLEY PARTNERS APPROVED APPROXIMATELY 800 LOANS TOTALING $46 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Miller Executive Director | Officer | 40 | $134,711 |
James M Rosa President/finance Chair | OfficerTrustee | 0.2 | $0 |
Julie Michael Smith Vice President | OfficerTrustee | 0.2 | $0 |
Jeffrey S Solomon Secretary | OfficerTrustee | 0.2 | $0 |
Joshua Toot Treasurer | OfficerTrustee | 0.2 | $0 |
Michael Keys Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,081 |
| Related organizations | $0 |
| Government grants | $3,367,734 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,408,815 |
| Total Program Service Revenue | $3,873,361 |
| Investment income | $1,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,407 |
| Net Income from Fundraising Events | -$3,112 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,351,682 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,038,738 |
| 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. | $147,924 |
| Compensation of current officers, directors, key employees. | $25,148 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $443,840 |
| Pension plan accruals and contributions | $14,460 |
| Other employee benefits | $78,501 |
| Payroll taxes | $46,264 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,070 |
| Fees for services: Accounting | $25,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,374 |
| Advertising and promotion | $23,306 |
| Office expenses | $44,019 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,193 |
| Travel | $1,797 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $102,739 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,551 |
| Insurance | $35,037 |
| All other expenses | $19,749 |
| Total functional expenses | $2,223,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,344,776 |
| Savings and temporary cash investments | $681,142 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $312,610 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,340,730 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $300,129 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $21,142 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $51,000,529 |
| Accounts payable and accrued expenses | $30,227 |
| 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 | $20,038,295 |
| Unsecured mortgages and notes payable | $633,646 |
| Other liabilities | $11,812,859 |
| Total liabilities | $32,515,027 |
| Net assets without donor restrictions | $4,525,423 |
| Net assets with donor restrictions | $13,960,079 |
| 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 | $51,000,529 |
Grants Awarded
Over the last fiscal year, Valley Economic Development Partners Inc has awarded $1,000,338 in support to 98 organizations.
| Grant Recipient | Amount |
|---|---|
VALLEY GROWTH VENTURES LLC PURPOSE: ECONOMIC DEVELOPMENT SUPPORT | $50,438 |
HORNYAK MILKSHAKES PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
LAKIA D LEWIS PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
ODONOLDS DOWNTOWN LLC PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
EDWARD J VILLONE PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
JOHNATHON ALLEN PURPOSE: MAHONING COUNTY SMALL BUSINESS RELIEF | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
The Center Of Workforce Innovations Inc Valparaiso, IN | $2,958,255 | $14,608,336 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Cintrifuse Cincinnati, OH | $9,097,086 | $17,758,065 |
Walnut Hills Redevelopment Foundation Inc Cincinnati, OH | $7,399,538 | $1,025,062 |
Midtown Detroit Inc Detroit, MI | $6,098,841 | $4,938,478 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Bellvue Gardens Community Urban Redevelopment Corporation Cincinnati, OH | $29,237,042 | $3,964,847 |
Detriot Economic Growth Association Detroit, MI | $6,651,865 | $5,567,044 |
Enterprise Center Philadelphia, PA | $14,775,584 | $14,297,548 |
Pidc Community Capital Philadelphia, PA | $51,592,924 | $9,506,766 |
Downtown Cleveland Improvementcorporation Cleveland, OH | $5,269 | $4,399,889 |