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Phoenixville Area Economic Development FY2021 filing

Kimberton, PAUnknown exempt organizationEIN 23-2180235Revenue $13K in FY2021

On file with the IRS533 Kimberton Road Po Box 1046 · Kimberton, PA

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Promote Economic Development and quality of life in Phoenixville through strategic investments.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $166K a year · 1515% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4379 mo
of spending, in cash
Looks good: 4379.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13K
+377% vs prior year
Spent
$2K
To programs
0%
Net assets
$966K
By yearFY2020–FY2025
Revenue
$13K
FY2021▲ +377%
Tap a bar for its year
Revenue by fiscal year
FY2020$3K
FY2021$13K
FY2022$10K
FY2023$11K
FY2024$24K
FY2025$5K
Expenses
$2K
FY2021▼ -33%
Tap a bar for its year
Expenses by fiscal year
FY2020$4K
FY2021$2K
FY2022$84K
FY2023$57K
FY2024$792K
FY2025$121K
Net assets
$966K
FY2021▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$942K
FY2021$966K
FY2022$888K
FY2023$841K
FY2024$116K
FY2025$0

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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.

Management & general 100% · $2K

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 (FY2020); the FY2021 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 · FY2020
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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$13K
Ln 12
Investment incomeLn 3$13K
Money outPt IX
$2K
Ln 25
Managementcol C$2K
Owns and owesPt X
$966K
net assets · Ln 32
Cash and savingsLn 1–2$882K
Total assetsLn 16$966K
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$13K
Gains on assetsLn 7−$189
Total revenueLn 12$13K
Assets in detailPt X, end of year
CashLn 1$23K
SavingsLn 2$860K
Cash and savings togetherLn 1–2$882K
Total assetsLn 16$966K
LiabilitiesLn 26$0
Net assetsLn 32$966K
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
LineStart FY21End FY21
Cash and savingsLn 1–2$875K$882K
Total assetsLn 16$942K$966K
LiabilitiesLn 26$0$0
Net assetsLn 32$942K$966K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Investment management feesLn 11f$584$584
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$25$25
Total functional expensesLn 25$2K$0$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
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 Viewing $13K$2K$11K$966K 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $13,386 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 $2,804$13,386
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,804$13,386
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 $3,630$2,418
I-18 Total expensesPrior year $3,630$2,418
I-19 Revenue less expensesPrior year −$826$10,968
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 $13,386 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $13,575$13,575
VIII-7 Net gain or loss on sales of assetsRelated to mission −$189−$189
VIII-12 Total revenueRelated to mission −$189 · Unrelated business $0 · Excluded from tax $13,575$13,386
Part IX · Statement of functional expenses $2,418 across 3 lines filed
IX-11f Investment management feesManagement $584$584
IX-23 InsuranceManagement $1,809$1,809
IX-24 Other expenses (24a–d)Management $25$25
IX-25 Total functional expensesPrograms $0 · Management $2,418 · Fundraising $0$2,418
Part X · Balance sheet $965,786 assets, 7 lines filed
Asset lines not itemized here account for $83,337; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $16,122$22,895
X-2 Savings and temporary cash investmentsStart of year $859,171$859,554
X-16 Total assetsStart of year $942,222$965,786
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $942,222$965,786
X-32 Total net assets or fund balancesStart of year $942,222$965,786
X-33 Total liabilities and net assetsStart of year $942,222$965,786
Part XI · Reconciliation of net assets $965,786 net assets at year end
XI-1 Total revenue$13,386
XI-2 Total expenses$2,418
XI-3 Revenue less expenses$10,968
XI-4 Net assets at start of year$942,222
XI-5 Net unrealized gains (losses) on investments$596
XI-9 Other changes in net assets$12,000
XI-10 Net assets at end of year$965,786

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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