Phoenixville Area Economic Development: FY2020 Nonprofit Profile & Form 990 (EIN 23-2180235)

Revenue by fiscal year
FY2020	$3K
FY2021	$13K
FY2022	$10K
FY2023	$11K
FY2024	$24K
FY2025	$5K

Expenses by fiscal year
FY2020	$4K
FY2021	$2K
FY2022	$84K
FY2023	$57K
FY2024	$792K
FY2025	$121K

Net assets by fiscal year
FY2020	$942K
FY2021	$966K
FY2022	$888K
FY2023	$841K
FY2024	$116K
FY2025	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

100%

Management & general 100% · $4K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Kurt Kunsch

President

$0Pt VII · Sec A

Gregory Care

Treasurer

$0Pt VII · Sec A

Mitchell Reading

Vice President

$0Pt VII · Sec A

Sue Meadows

Secretary

$0Pt VII · Sec A

Michael Polin

Board Member

$0Pt VII · Sec A

Adam Suplee

Board Member

$0Pt VII · Sec A

Fei Xue

Board Member

$0Pt VII · Sec A

Anne Cummins

Board Member

$0Pt VII · Sec A

See Phoenixville Area Economic Development executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Invests strategically to boost Phoenixville's economy and improve residents' quality of life.

Questions for Phoenixville Area Economic Development

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Provided by the organization

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1 program · in their own filed words · FY2019

01

Maintained local properties of historic interest; including the maintenance of the town park and mural and local steel foundry, to promote economic development and quality of life in phoenixville, pa.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 5 grants · $845K · 2022–2023

Phoenixville Area Chamber of CommercePA · FY2023$690,150

Historical Society of the Phoenixville AreaPA · FY2023$50,000

Schuykill River Heritage Center AtphoenixvillePA · FY2023$50,000

Partners Creating Community INCPA · FY2022$45,000

Phoenixville Area Chamber of CommercePA · FY2022$9,850

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3K

Ln 12

Investment incomeLn 3$3K

Money outPt IX

$4K

Ln 25

Managementcol C$4K

Owns and owesPt X

$942K

net assets · Ln 32

Cash and savingsLn 1–2$875K

Total assetsLn 16$942K

LiabilitiesLn 26$0

PeoplePt VI, VII

12

listed · VII A

PaidVII A0

Voting boardVI 1a12

IndependentVI 1b12

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$3K

Total revenueLn 12$3K

Assets in detailPt X, end of year

CashLn 1$16K

SavingsLn 2$859K

Cash and savings togetherLn 1–2$875K

Total assetsLn 16$942K

LiabilitiesLn 26$0

Net assetsLn 32$942K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$942K	$875K
Total assetsLn 16	$942K	$942K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$942K	$942K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$2K		$2K
Investment management feesLn 11f	$560		$560
InsuranceLn 23	$1K		$1K
Other expenses (24a–d)Ln 24	$34		$34
Total functional expensesLn 25	$4K	$0	$4K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$5K	$121K	−$116K	$0	990 PDF
FY2024	$24K	$792K	−$768K	$116K	990 PDF
FY2023	$11K	$57K	−$47K	$841K	990 PDF
FY2022	$10K	$84K	−$74K	$888K	990 PDF
FY2021	$13K	$2K	$11K	$966K	990 PDF
FY2020 Viewing	$3K	$4K	−$826	$942K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2020 990 (6 parts)

Part I · Summary $2,804 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $15,185$2,804

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $15,185$2,804

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $999$3,630

I-18 Total expensesPrior year $999$3,630

I-19 Revenue less expensesPrior year $14,186−$826

Part VI · Governance 12 of 12 board members independent, 4 to look at

VI-1a Voting members of the governing body12

VI-1b Independent voting members12

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $2,804 across 2 lines filed

VIII-3 Investment incomeExcluded from tax $2,804$2,804

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,804$2,804

Part IX · Statement of functional expenses $3,630 across 4 lines filed

IX-11c Accounting feesManagement $1,900$1,900

IX-11f Investment management feesManagement $560$560

IX-23 InsuranceManagement $1,136$1,136

IX-24 Other expenses (24a–d)Management $34$34

IX-25 Total functional expensesPrograms $0 · Management $3,630 · Fundraising $0$3,630

Part X · Balance sheet $942,222 assets, 7 lines filed

Asset lines not itemized here account for $66,929; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $16,238$16,122

X-2 Savings and temporary cash investmentsStart of year $925,618$859,171

X-16 Total assetsStart of year $941,856$942,222

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $941,856$942,222

X-32 Total net assets or fund balancesStart of year $941,856$942,222

X-33 Total liabilities and net assetsStart of year $941,856$942,222

Part XI · Reconciliation of net assets $942,222 net assets at year end

XI-1 Total revenue$2,804

XI-2 Total expenses$3,630

XI-3 Revenue less expenses−$826

XI-4 Net assets at start of year$941,856

XI-5 Net unrealized gains (losses) on investments$1,192

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$942,222

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Phoenixville Area Economic Development FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Phoenixville Area Economic Development

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV