PENNSYLVANIA ECONOMY LEAGUE INC

EIN: 231352264 501(c)(3)

PHILADELPHIA, PA

Total Revenue
$3,730,942
Total Expenses
$4,413,826
Total Assets
$2,159,381
Net Assets
$-361,717
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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
PA
Principal Officer
JEFFREY HORNSTEIN PHD
Phone
2672093974
Tax Period
2023-01-01 to 2023-12-31

PENNSYLVANIA ECONOMY LEAGUE INC, founded in 1936, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $4.4M exceeded revenue, resulting in a 18% operating deficit.

Mission

THE PENNSYLVANIA ECONOMY LEAGUE (PEL) IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH AND DEVELOPMENT ORGANIZATION COMPRISED OF THREE LIMITED LIABILITY COMPANIES: PEL, SOUTHEASTERN PA, LLC, DBA ECONOMY LEAGUE OF GREATER PHILADELPHIA; SEE SCHEDULE O FOR CONTINUATIONTHE PENNSYLVANIA ECONOMY LEAGUE OF SOUTHWESTERN PA, LLC, DBA THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH; AND THE PENNSYLVANIA ECONOMY LEAGUE, CENTRAL PA, LLC. PEL'S MISSION IS TO PROVIDE INDEPENDENT RESEARCH ON EMERGING ISSUES IN ORDER TO STIMULATE PUBLIC AND PRIVATE ACTION AND TO MAKE PENNSYLVANIA A BETTER PLACE TO LIVE, WORK AND DO BUSINESS. ITS PURPOSE IS TO CREATE A KNOWLEDGEABLE CORPORATE AND CIVIC AUDIENCE TO HELP ENSURE THE ECONOMIC COMPETITIVENESS OF THE COMMONWEALTH AND ITS REGIONS.

Program Service Accomplishments

Program 1
Expenses: $1,498,807 Revenue: $520,587

THE ECONOMY LEAGUE OF GREATER PHILADELPHIA FOSTERS EQUITABLE AND INCLUSIVE GROWTH IN GREATER PHILADELPHIA BY PRODUCING IMPACTFUL, NONPARTISAN RESEARCH, CONNECTING DIVERSE LEADERS, AND ADVANCING...

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THE ECONOMY LEAGUE OF GREATER PHILADELPHIA FOSTERS EQUITABLE AND INCLUSIVE GROWTH IN GREATER PHILADELPHIA BY PRODUCING IMPACTFUL, NONPARTISAN RESEARCH, CONNECTING DIVERSE LEADERS, AND ADVANCING SHARED SOLUTIONS. THE ELGP IS OUR REGION'S INDEPENDENT 'THINK-AND-DO TANK,' FOUNDED IN 1909 BY FORWARD-THINKING CIVIC LEADERS, UNITED BY THE BELIEF THAT BUSINESS HAS A CIVIC RESPONSIBILITY BEYOND PROFIT-MAKING, AND THAT IT IS THE CITIZENS BUSINESS TO ENSURE THAT LOCAL GOVERNMENT AND THE LOCAL ECONOMY WORK FOR ALL. SEE SCHEDULE O FOR CONTINUATION

Program 2
Expenses: $1,145,584 Revenue: $18,000

THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP), ALONG WITH OUR AFFILIATED ORGANIZATIONS ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT (ACCD), PITTSBURGH REGIONAL ALLIANCE (PRA) AND...

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THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP), ALONG WITH OUR AFFILIATED ORGANIZATIONS ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT (ACCD), PITTSBURGH REGIONAL ALLIANCE (PRA) AND GREATER PITTSBURGH CHAMBER OF COMMERCE (GPCC) - AND OUR REGIONAL INVESTOR COUNCIL PARTNERS, TOOK IMPORTANT STEPS TOWARD ACHIEVING THE GLOBALLY COMPETITIVE REGION WE STRIVE FOR.SEE SCHEDULE O FOR CONTINUATIONPELGP HAS FOCUSED ITS EFFORTS ON STRENGTHENING ITS THOUGHT LEADERSHIP COMMITTEE TO STEP UP ITS EXPERTISE AND INFLUENCE ON STRATEGIC ECONOMIC DEVELOPMENT ISSUES. AS PART OF THEIR COMMITMENT TO LEADING THE DEVELOPMENT OF POLICY SOLUTIONS AND ENGAGING CRITICAL STAKEHOLDERS TO DRIVE POLICY AND PROGRAMMATIC CHANGES ACROSS INTEREST AREAS, THE COMMITTEE HAS SUCCESSFULLY HOSTED SEVERAL ENTREPRENEURIAL SUMMITS, EXPANDED PARTNERSHIPS WITH UNIVERSITIES AND SMALL BUSINESSES, AND ADVANCED SUPPORT FOR CRITICAL LEGISLATION THAT REINFORCES ACCD'S DEDICATION TO DRIVING SUSTAINABLE ECONOMIC GROWTH. A CROSS-DEPARTMENTAL TEAM, GUIDED BY THE THOUGHT LEADERSHIP COMMITTEE, HAS DEVELOPED A COMPREHENSIVE WORK PLAN ALIGNED WITH THREE PRIMARY GOALS: WORKFORCE AND TALENT, INCLUSIVE ECONOMIES, AND CLUSTER STRATEGY AND BUSINESS GROWTH. THE THOUGHT LEADERSHIP TEAM HAS CONTINUED TO PRODUCE REGULAR REPORTS AND ANALYSIS ON THE STATE OF THE REGION'S ECONOMY AND HAS BEGUN DEVELOPING AND PRODUCING NEW REPORTS THAT BRING GREATER INSIGHT INTO SOCIO-ECONOMIC TRENDS AND POLICY ISSUES.IN ADDITION TO THESE ACCOMPLISHMENTS, THE THOUGHT LEADERSHIP COMMITTEE ALSO MANAGES THE REGIONAL GROWTH AND COMPETITIVENESS SUBCOMMITTEE, WHICH IS MADE UP OF REGIONAL BUSINESS LEADERS FROM THE REGIONAL INVESTOR COUNCIL. THE SUBCOMMITTEE CONVENES ONCE PER QUARTER FOR A ROUNDTABLE DISCUSSION OF CURRENT BUSINESS CONDITIONS, ECONOMIC TRENDS, AND GROWTH EXPECTATIONS WHICH HELP TO INFORM THOUGHT LEADERSHIP'S STRATEGIC GOALS AND RESEARCH PRIORITIES.

Program 3
Expenses: $297,896 Revenue: $367,674

2023 MARKED A YEAR OF TRANSITION AND CONTINUED IMPACT FOR THE PENNSYLVANIA ECONOMY LEAGUE, CENTRAL PA, LLC.LEADERSHIP CHANGES INCLUDED THE RESIGNATION OF CEO LEEANNE CLAYBERGER ON APRIL 30, 2023...

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2023 MARKED A YEAR OF TRANSITION AND CONTINUED IMPACT FOR THE PENNSYLVANIA ECONOMY LEAGUE, CENTRAL PA, LLC.LEADERSHIP CHANGES INCLUDED THE RESIGNATION OF CEO LEEANNE CLAYBERGER ON APRIL 30, 2023, FOLLOWED BY LYNNE SHEDLOCK SERVING AS ACTING EXECUTIVE DIRECTOR FROM MAY 1 TO NOVEMBER 30. VINNY CANNIZZARO WAS APPOINTED EXECUTIVE DIRECTOR ON DECEMBER 1, 2023.SEE SCHEDULE O FOR CONTINUATION

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,813,702
Program Service Revenue $906,261
Investment Income $10,979
Other Revenue $0
TOTAL REVENUE $3,730,942

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,750,063
Fundraising Expenses $229,011
Program Expenses $2,942,287
Other Expenses $1,663,763
TOTAL EXPENSES $4,413,826

Year-over-Year Comparison

2023 2022 Change
Revenue $3,730,942 $4,318,756 -0.1%
Expenses $4,413,826 $3,903,549 +0.1%
Net Income $-682,884 $415,207 -2.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
8
Employees
15
Volunteers
9

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
3
$203,987
Total Directors
10
$203,987
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF HORNSTEIN EXECUTIVE DIRECTOR 40.00
Officer Director
$180,255 $23,732 $203,987
DAVID BLUM DIRECTOR 1.00
Director
$0 $0 $0
ELLIOT DINKIN DIRECTOR 1.00
Director
$0 $0 $0
PETER GROLLMAN DIRECTOR (EXITED 12/23) 1.00
Director
$0 $0 $0
STUART G HOFFMAN DIRECTOR 1.00
Director
$0 $0 $0
RYAN MCGOWAN DIRECTOR 1.00
Director
$0 $0 $0
KEVIN SNIDER DIRECTOR 1.00
Director
$0 $0 $0
STEVE STETLER DIRECTOR 1.00
Director
$0 $0 $0
FRED CALLAHAN TREASURER 1.00
Officer Director
$0 $0 $0
WILLIAM RHODES CHAIR 1.00
Officer Director
$0 $0 $0
JNELLE LAWRENCE DEPUTY EXECUTIVE DIRECTOR 40.00
Highest
$117,445 $5,073 $122,518
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
2024 No data No data No data No data
2023 $3,730,942 $4,413,826 $2,159,381 $-682,884
2022 $4,318,756 $3,903,549 $2,565,314 $415,207
2021 $4,041,486 $3,782,055 $2,641,467 $259,431
2020 $2,930,019 $2,963,751 $2,359,899 $-33,732
2019 $3,512,571 $3,030,008 $2,139,348 $482,563
2018 $3,576,876 $3,746,918 $2,153,887 $-170,042
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