Delaware County Economic Development FY2023 filing

Not tax-deductible

Media, PA501(c)(4)EIN 23-2607596

To promote economic development in delaware county pennsylvania.

77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $253K a year · 5% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
27 mo
of spending, in cash
Looks good: 27.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $67K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$454K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
-28% vs prior year
Spent
$941K
To programs
77%
Net assets
$2.0M
By yearFY2020–FY2024
Revenue
$1.2M
FY2023▼ -28%
Revenue by fiscal year
FY2020$12.6M
FY2021$10.7M
FY2022$1.7M
FY2023$1.2M
FY2024$1.3M
Expenses
$941K
FY2023▼ -32%
Expenses by fiscal year
FY2020$12.4M
FY2021$10.5M
FY2022$1.4M
FY2023$941K
FY2024$1.1M
Net assets
$2.0M
FY2023▲ +13%
Net assets by fiscal year
FY2020$1.2M
FY2021$1.4M
FY2022$1.7M
FY2023$2.0M
FY2024$2.1M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1992.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $726K Management & general 23% · $214K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Assistant Treasurer
$0Pt VII · Sec A
See Delaware County 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

Promotes economic growth and opportunity in Delaware County, Pennsylvania.

Provided by the organization

This section is blank until Delaware County Economic Development claims this page.

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1 program service account for $726K of program spending, described in the organization's own filed words · FY2023.
01

To promote new business and assist existing businesses in delaware county, pa to create employment opportunities

$726Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$67K
Grants paid · 1 grant · $9.4M · 2021–2021
See Attached ScheduleFY2021$9,373,500

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$116K
Investment incomeLn 3$45K
Money outPt IX
$941K
Ln 25
Programscol B$726K
Managementcol C$214K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$2.4M
LiabilitiesLn 26$454K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$1.1M
Fees for servicesLn 2g$116K
Investment incomeLn 3$45K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$2.1M
Cash and savings togetherLn 1–2$2.1M
Other assetsLn 15$263K
Total assetsLn 16$2.4M
LiabilitiesLn 26$454K
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.7M$2.1M
Total assetsLn 16$2.3M$2.4M
LiabilitiesLn 26$519K$454K
Net assetsLn 32$1.7M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$214K$214K
Pension plan contributionsLn 8$7K$7K
Other employee benefitsLn 9$56K$56K
Payroll taxesLn 10$19K$19K
Legal feesLn 11b$18K$18K
Accounting feesLn 11c$47K$47K
Other fees for servicesLn 11g$93K$38K$55K
Advertising and promotionLn 12$23K$20K$2K
Office expensesLn 13$5K$582$4K
Information technologyLn 14$25K$25K
OccupancyLn 16$25K$25K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$3K$3K$240
Depreciation, depletion and amortizationLn 22$3K$3K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$381K$350K$31K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$941K$726K$214K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.3M$1.1M$180K$2.1M 990 PDF
FY2023 Viewing $1.2M$941K$302K$2.0M 990 PDF
FY2022 $1.7M$1.4M$340K$1.7M 990 PDF
FY2021 $10.7M$10.5M$198K$1.4M 990 PDF
FY2020 $12.6M$12.4M$245K$1.2M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,242,055 across 5 lines filed
VIII-1e Government grants$1,080,928
VIII-1h Total contributions, gifts and grants$1,080,928
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $115,681$115,681
VIII-3 Investment incomeExcluded from tax $45,446$45,446
VIII-12 Total revenueRelated to mission $115,681 · Unrelated business $0 · Excluded from tax $45,446$1,242,055
Part IX · Statement of functional expenses $940,532 across 17 lines filed
IX-7 Other salaries and wagesPrograms $213,898$213,898
IX-8 Pension plan contributionsPrograms $7,459$7,459
IX-9 Other employee benefitsPrograms $55,926$55,926
IX-10 Payroll taxesPrograms $18,746$18,746
IX-11b Legal feesPrograms $18,358$18,358
IX-11c Accounting feesManagement $46,740$46,740
IX-11g Other fees for servicesPrograms $37,986 · Management $55,246$93,232
IX-12 Advertising and promotionPrograms $20,417 · Management $2,122$22,539
IX-13 Office expensesPrograms $582 · Management $4,283$4,865
IX-14 Information technologyManagement $24,594$24,594
IX-16 OccupancyManagement $24,809$24,809
IX-17 TravelManagement $1,736$1,736
IX-19 Conferences, conventions and meetingsPrograms $2,764 · Management $240$3,004
IX-22 Depreciation, depletion and amortizationManagement $2,689$2,689
IX-23 InsuranceManagement $8,081$8,081
IX-24 Other expenses (24a–d)Programs $350,263 · Management $30,895$381,158
IX-24e All other expensesManagement $12,698$12,698
IX-25 Total functional expensesPrograms $726,399 · Management $214,133 · Fundraising $0$940,532
Part X · Balance sheet $2,413,297 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,746,712$2,134,570
X-9 Prepaid expenses and deferred chargesStart of year $19,940$15,314
X-15 Other assetsStart of year $493,383$263,413
X-16 Total assetsStart of year $2,260,035$2,413,297
X-17 Accounts payable and accrued expensesStart of year $21,010$90,567
X-19 Deferred revenueStart of year $427,133$363,620
X-25 Other liabilitiesStart of year $70,928$0
X-26 Total liabilitiesStart of year $519,071$454,187
X-27 Net assets without donor restrictionsStart of year $1,740,964$1,959,110
X-32 Total net assets or fund balancesStart of year $1,740,964$1,959,110
X-33 Total liabilities and net assetsStart of year $2,260,035$2,413,297
Part XI · Reconciliation of net assets $1,959,110 net assets at year end
XI-1 Total revenue$1,242,055
XI-2 Total expenses$940,532
XI-3 Revenue less expenses$301,523
XI-4 Net assets at start of year$1,740,964
XI-9 Other changes in net assets−$83,377
XI-10 Net assets at end of year$1,959,110

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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