CUMBERLAND AREA ECONOMIC DEVELOPME… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

JONATHAN COX

Phone

7172407180

Tax Period

2023-01-01 to 2023-12-31

CUMBERLAND AREA ECONOMIC DEVELOPMENT CORPORATION, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $3.1M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $2.8M left a modest 11% surplus.

Mission

TO PRESERVE, FACILITATE, PROMOTE AND FOSTER ECONOMIC DEVELOPMENT WITHIN CUMBERLAND COUNTY AND THE SURROUNDING REGIONS, BY PROVIDING INTEGRATED ECONOMIC DEVELOPMENT AND TOURISM MARKETING SERVICES TO, AND ON BEHALF OF, THE CITIZENS OF THE COUNTY, THE SOUTH CENTRAL PENNSYLVANIA REGION, AND THE COMMONWEALTH OF PENNSYLVANIA.

Program Service Accomplishments

Program 1

Expenses: $1,833,065 Revenue: $27,157

TOURISM OPERATIONS SERVE TO MARKET CUMBERLAND COUNTY AS A VISITOR DESTINATION AND WORKS CLOSELY WITH SCORES OF ACTIVE LODGING ESTABLISHMENTS, OTHER ATTRACTIONS, RESTAURANTS, AND SERVICES TO PRESENT SEVERAL SPECIFIC TOURISM THEMES TO TARGET AUDIENCES IN CONSUMER, GROUP TOUR, AND SMALL MEETING MARKETS. TOURISM EFFORTS HAVE GENERATED THOUSANDS OF LEADS AS A RESULT OF DIRECT MARKETING EFFORTS AND INCREASED WEBSITE VISITATION.

Program 2

Expenses: $720,482 Revenue: $94,395

ECONOMIC DEVELOPMENT EFFORTS BENEFITED THE JOB CLIMATE & ECONOMIC HEALTH OF THE CITIZENS OF CUMBERLAND COUNTY,PENNSYLVANIA THROUGH PROGRAMS, CONSULTING SERVICES, OUTREACH, FINANCING ACTIVITIES AND...

ECONOMIC DEVELOPMENT EFFORTS BENEFITED THE JOB CLIMATE & ECONOMIC HEALTH OF THE CITIZENS OF CUMBERLAND COUNTY,PENNSYLVANIA THROUGH PROGRAMS, CONSULTING SERVICES, OUTREACH, FINANCING ACTIVITIES AND EDUCATIONAL WORKSHOPS. KEY INDUSTRIES TARGETED INCLUDE MANUFACTURING, LOGISTICS, AGRICULTURE, TECHNOLOGY, AND PROFESSIONAL SERVICES. SCORES OF BUSINESSES WERE SERVED ACROSS 33 MUNICIPALITIES THROUGHOUT THE COUNTY.

Program 3

Expenses: $44,327

OTHER PROGRAM SERVICES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,844,886

Program Service Revenue $121,552

Investment Income $151,181

Other Revenue $25,574

TOTAL REVENUE $3,143,193

Expense Breakdown

Grants Paid $36,000

Salaries & Benefits $1,285,574

Fundraising Expenses $30,428

Program Expenses $2,597,874

Other Expenses $1,464,134

TOTAL EXPENSES $2,785,708

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,143,193	$3,992,452	-0.2%
Expenses	$2,785,708	$2,158,450	+0.3%
Net Income	$357,485	$1,834,002	-0.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$299,123

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN COX	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JASON L REIMER	VICE-CHAIRMA	1.00	Officer Director	$0	$0	$0
HAROLD BRANDT	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL SHAULL	SECRETARY	1.00	Officer Director	$0	$0	$0
KENNETH TUCKEY	BOARD MEMBER	1.00	Director	$0	$0	$0
GARY EICHELBERGER	DELEGATE COM	1.00	Officer Director	$0	$0	$0
VINCENT T DIFILIPPO	BOARD MEMBER	1.00	Director	$0	$0	$0
JEAN FOSCHI	BOARD MEMBER	1.00	Director	$0	$0	$0
AMEY SGRIGNOLI	BOARD MEMBER	1.00	Director	$0	$0	$0
LAUREN ISCH	BOARD MEMBER	1.00	Director	$0	$0	$0
DON KIBLER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN RAMPULLA	BOARD MEMBER	1.00	Director	$0	$0	$0
MORGAN RECTOR	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY BREAITHWAITE	FORMER DIR.	40.00	Officer	$29,847	$895	$30,742
JANET ANDERSON	EXECUTIVE DI	40.00	Officer	$175,461	$15,245	$190,706
LORI LIGHTY	OPERATIONS M	40.00	Officer	$67,061	$10,614	$77,675
KRISTEN ROWE	DIR OF DEST.	40.00	Highest	$124,088	$3,723	$127,811

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$3,143,193	$2,785,708	$9,316,356	$357,485
2022	$3,992,452	$2,158,450	$8,678,549	$1,834,002
2021	$6,112,770	$4,800,651	$7,101,544	$1,312,119
2020	$2,094,990	$2,280,712	$6,037,555	$-185,722
2019	$2,710,264	$2,919,254	$7,017,543	$-208,990
2018	$2,713,012	$2,776,978	$6,683,097	$-63,966

CUMBERLAND AREA ECONOMIC DEVELOPMENT CORPORATION