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Institute for Economic Development INC

Tax-deductible

Chester, PA501(c)(3)Community DevelopmentEIN 23-2843207Revenue $273K in FY2025

On file with the IRSdelcoriverfront.comPo Box 782, 19016-0782 · Chester, PATax-exempt since May 1996Publicly supported charity — 170(b)(1)(A)(vi)

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Implement programs to promote the Development of the delaware county waterfront.

501(c)(3) charity; gifts are tax-deductible.
30¢ of each $1 spent went to programs.
Run by 21 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
5 of 6
filings with a surplus
Average surplus $220K a year · 31% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
30%
of spending
Concern: 30% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
93 mo
of spending, in cash
Looks good: 93.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $65K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$102K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$273K
-63% vs prior year
Spent
$208K
To programs
30%
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$273K
FY2025▼ -63%
Tap a bar for its year
Revenue by fiscal year
FY2020$658K
FY2021$733K
FY2022$961K
FY2023$889K
FY2024$730K
FY2025$273K
Expenses
$208K
FY2025▼ -52%
Tap a bar for its year
Expenses by fiscal year
FY2020$410K
FY2021$411K
FY2022$233K
FY2023$1.2M
FY2024$432K
FY2025$208K
Net assets
$1.6M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$526K
FY2021$848K
FY2022$1.6M
FY2023$1.2M
FY2024$1.5M
FY2025$1.6M

From the FY2025 Form 990 (year ending June 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1996.

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

Where the money goes

30 cents of each dollar spent went to programs.

Program services 30% · $63K Management & general 70% · $144K

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

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Who runs it and what they're paid

23 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Adam Kaliner
Chair/President
$0Pt VII · Sec A
Dr Stacey Robertson
Vice Chair/Vice President
$0Pt VII · Sec A
Lisa Gaffney
Executive Director
$0Pt VII · Sec A
Tim McDermott
Secretary
$0Pt VII · Sec A
Gerald Miller
Treasurer
$0Pt VII · Sec A
Jon Cohn
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Institute for Economic Development INC 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

Develops the Delaware County waterfront through various programs.

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Provided by the organization

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3 programs · $63K · in their own filed words · FY2024
01

Economic developmentin the last fiscal year, radc made a good deal of progress on improving streetscapes and trails along the chester waterfront and enhancing the connection between residents and the delaware river.

$35Kprogram expense
02

Housing & neighborhood revitalizationin partnership with the chester community improvement project (ccip), radc is focusing on providing quality affordable housing, eliminating blight and revitalizing neighborhoods.

$22Kprogram expense
03

Workforce developmentworkforce development complements the strong employer base of radc board members and provides a mechanism to enhance connections between chester residents and local employment opportunities.

$6Kprogram expense

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
TD Charitable FoundationFY2024$40K
The Foundation for Delaware CountyFY2024$25K
Total grants receivedfrom 2 funders$65K
Grants paid · 3 grants · $25K · 2019–2023
Unitemized GrantFY2023$7,050
Unitemized GrantFY2020$11,954
Unitemized GrantFY2019$5,500

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$273K
Ln 12
Gifts and grantsLn 1h$221K
Investment incomeLn 3$52K
Money outPt IX
$208K
Ln 25
Programscol B$63K
Managementcol C$144K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$1.7M
LiabilitiesLn 26$102K
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$221K
Government grantsLn 1e$14K
Investment incomeLn 3$52K
Total revenueLn 12$273K
Assets in detailPt X, end of year
CashLn 1$62K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.6M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.7M
LiabilitiesLn 26$102K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 621
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.5M$1.6M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.6M$1.7M
LiabilitiesLn 26$24K$102K
Net assetsLn 32$1.5M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1K$1K
Management feesLn 11a$94K$94K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$34K$34K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$4$4
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$64K$62K$2K
All other expensesLn 24e$7K$7K
Total functional expensesLn 25$208K$63K$144K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $273K$208K$65K$1.6M 990 PDF
FY2024 $730K$432K$297K$1.5M 990 PDF
FY2023 $889K$1.2M−$340K$1.2M 990 PDF
FY2022 $961K$233K$728K$1.6M 990 PDF
FY2021 $733K$411K$322K$848K 990 PDF
FY2020 $658K$410K$247K$526K 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 FY2025 990 (6 parts)
Part I · Summary $272,889 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $693,083$221,346
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $36,420$51,543
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $729,503$272,889
I-13 Grants and similar amounts paidPrior year $7,050$1,000
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 $425,105$206,587
I-18 Total expensesPrior year $432,155$207,587
I-19 Revenue less expensesPrior year $297,348$65,302
Part VI · Governance 22 of 22 board members independent, 1 to look at
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $272,889 across 6 lines filed
VIII-1b Membership dues$120,100
VIII-1e Government grants$13,573
VIII-1f All other contributions, gifts and grants$87,673
VIII-1h Total contributions, gifts and grants$221,346
VIII-3 Investment incomeExcluded from tax $51,543$51,543
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $51,543$272,889
Part IX · Statement of functional expenses $207,587 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $1,000$1,000
IX-11a Management feesManagement $93,600$93,600
IX-11b Legal feesManagement $1,308$1,308
IX-11c Accounting feesManagement $33,725$33,725
IX-12 Advertising and promotionManagement $4,344$4,344
IX-13 Office expensesManagement $4$4
IX-23 InsuranceManagement $2,821$2,821
IX-24 Other expenses (24a–d)Programs $62,117 · Management $1,518$63,635
IX-24e All other expensesManagement $7,150$7,150
IX-25 Total functional expensesPrograms $63,117 · Management $144,470 · Fundraising $0$207,587
Part X · Balance sheet $1,701,013 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $13,632$62,430
X-2 Savings and temporary cash investmentsStart of year $1,526,113$1,553,654
X-3 Pledges and grants receivableStart of year $16,373$76,504
X-4 Accounts receivable$5,850
X-9 Prepaid expenses and deferred chargesStart of year $980$2,575
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $1,557,098$1,701,013
X-17 Accounts payable and accrued expensesStart of year $23,863$27,476
X-19 Deferred revenue$75,000
X-26 Total liabilitiesStart of year $23,863$102,476
X-27 Net assets without donor restrictionsStart of year $192,746$226,041
X-28 Net assets with donor restrictionsStart of year $1,340,489$1,372,496
X-32 Total net assets or fund balancesStart of year $1,533,235$1,598,537
X-33 Total liabilities and net assetsStart of year $1,557,098$1,701,013
Part XI · Reconciliation of net assets $1,598,537 net assets at year end
XI-1 Total revenue$272,889
XI-2 Total expenses$207,587
XI-3 Revenue less expenses$65,302
XI-4 Net assets at start of year$1,533,235
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,598,537

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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