philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Chester County Economic Development Foundation FY2021 filing

Tax-deductible

Exton, PA501(c)(3)Community DevelopmentEIN 23-2978513

Engaging in training and educational activities pertaining to economic development. Services include efforts to retain and expand businesses, workforce etc. And also to improve economic conditions in economically depressed areas.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
1 of 5
filings with a surplus
Average deficit $21K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $384K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$919K
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
47
of 47 voting members
Looks good: 47 of 47 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
Spent
$1.6M
To programs
91%
Net assets
$1.9M
By yearFY2021–FY2025
Revenue
$1.5M
FY2021
Revenue by fiscal year
FY2021$1.5M
FY2022$2.0M
FY2023$2.3M
FY2024$3.8M
FY2025$3.0M
Expenses
$1.6M
FY2021
Expenses by fiscal year
FY2021$1.6M
FY2022$2.0M
FY2023$2.4M
FY2024$3.8M
FY2025$2.9M
Net assets
$1.9M
FY2021
Net assets by fiscal year
FY2021$1.9M
FY2022$1.8M
FY2023$1.8M
FY2024$1.7M
FY2025$1.8M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · 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 ruling in Jan 2000.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.4M Management & general 9% · $136K

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

Who runs it and what they're paid

69 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Adam Loew
Board Member
$0Pt VII · Sec A
Anand Solanki
Board Member
$0Pt VII · Sec A
Annette F Favorite
Board Member
$0Pt VII · Sec A
Arthur a Bernardon Aia
Honorary Director
$0Pt VII · Sec A
Bill Hostetter
Board Member
$0Pt VII · Sec A
Bill Stedman
Treasurer
$0Pt VII · Sec A
Bobby Kagel
Governmental Director
$0Pt VII · Sec A
Brian N O'Leary Aicp
Governmental Director
$0Pt VII · Sec A
See Chester County Economic Development Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

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

Drives local economic growth by providing business training, workforce development, expansion support, and revitalization initiatives for economically depressed communities.

Provided by the organization

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

Know this organization? Claim it to add your story

2 program services account for $1.4M of program spending, described in the organization's own filed words · FY2020.
01

The foundation partners primarily with the chester county workforce investment board to provide industry focused workforce training, education and assistance to businesses and individuals. Industry focus groups active this year included information technology, healthcare, agriculture, manufacturing and energy.

$1.3Mprogram expense
02

Rental Facility Program

The foundation rents space to an affiliated tax exempt organization which rents to help accomplish its tax exempt purpose.

$101Kprogram expense

Run this program? Claim this org to tell your story

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Philadelphia Works INCFY2024$286K
Justamere FoundationFY2024$50K
American Online Giving Foundation INCFY2024$25K
The Sylvia W and Randle M Kauders Foundation INCFY2024$10K
CcresFY2024$10K
Bentley FoundationFY2024$3K
Total grants receivedfrom 6 funders$384K
See all 6 funders →

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.4M
Fees for servicesLn 2g$195K
Investment incomeLn 3$941
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$136K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$990K
Total assetsLn 16$2.8M
LiabilitiesLn 26$919K
PeoplePt VI, VII
69
listed · VII A
PaidVII A0
Voting boardVI 1a47
IndependentVI 1b47
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$1.3M
Fees for servicesLn 2g$195K
Investment incomeLn 3$941
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$990K
Cash and savings togetherLn 1–2$990K
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$2.8M
LiabilitiesLn 26$919K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 61,045
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$1.1M$990K
Land, buildings, equipmentLn 10c$1.7M$1.6M
Total assetsLn 16$3.0M$2.8M
LiabilitiesLn 26$1.1M$919K
Net assetsLn 32$1.9M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$108K$108K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$907$907
Depreciation, depletion and amortizationLn 22$75K$75K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$1.4M$1.4M
Total functional expensesLn 25$1.6M$1.4M$136K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.0M$2.9M$73K$1.8M 990 PDF
FY2024 $3.8M$3.8M−$35K$1.7M 990 PDF
FY2023 $2.3M$2.4M−$46K$1.8M 990 PDF
FY2022 $2.0M$2.0M−$60K$1.8M 990 PDF
FY2021 Viewing $1.5M$1.6M−$38K$1.9M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 (4 parts)
Part VIII · Statement of revenue $1,542,888 across 7 lines filed
VIII-1e Government grants$1,344,143
VIII-1f All other contributions, gifts and grants$25,850
VIII-1h Total contributions, gifts and grants$1,369,993
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $194,807$194,807
VIII-3 Investment incomeExcluded from tax $941$941
VIII-6 Net rental income or lossExcluded from tax −$22,853−$22,853
VIII-12 Total revenueRelated to mission $194,807 · Unrelated business $0 · Excluded from tax −$21,912$1,542,888
Part IX · Statement of functional expenses $1,581,303 across 7 lines filed
IX-11a Management feesManagement $108,000$108,000
IX-11c Accounting feesManagement $4,250$4,250
IX-12 Advertising and promotionManagement $14,300$14,300
IX-13 Office expensesManagement $907$907
IX-22 Depreciation, depletion and amortizationPrograms $74,827$74,827
IX-23 InsuranceManagement $8,805$8,805
IX-24 Other expenses (24a–d)Programs $1,370,214$1,370,214
IX-25 Total functional expensesPrograms $1,445,041 · Management $136,262 · Fundraising $0$1,581,303
Part X · Balance sheet $2,809,306 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,089,762$989,680
X-4 Accounts receivableStart of year $200,886$205,354
X-9 Prepaid expenses and deferred chargesStart of year $9,342$9,934
X-10c Land, buildings and equipment, netStart of year $1,679,165$1,604,338
X-16 Total assetsStart of year $2,979,155$2,809,306
X-17 Accounts payable and accrued expensesStart of year $248,926$261,883
X-19 Deferred revenueStart of year $801,852$657,461
X-26 Total liabilitiesStart of year $1,050,778$919,344
X-27 Net assets without donor restrictionsStart of year $1,882,035$1,821,593
X-28 Net assets with donor restrictionsStart of year $46,342$68,369
X-32 Total net assets or fund balancesStart of year $1,928,377$1,889,962
X-33 Total liabilities and net assetsStart of year $2,979,155$2,809,306
Part XI · Reconciliation of net assets $1,889,962 net assets at year end
XI-1 Total revenue$1,542,888
XI-2 Total expenses$1,581,303
XI-3 Revenue less expenses−$38,415
XI-4 Net assets at start of year$1,928,377
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,889,962

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Export with similar orgs (CSV)
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.