CHESTER COUNTY ECONOMIC DEVELOPMEN… - 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

1960

Legal Domicile

Principal Officer

GARY SMITH

Phone

6104585700

Tax Period

2023-07-01 to 2024-06-30

CHESTER COUNTY ECONOMIC DEVELOPMENT COUNCIL, founded in 1960, is a mid-sized nonprofit that reported $10.4M in total revenue in fiscal year 2023. Revenue surged 116% from the prior year, signaling strong growth momentum. Expenses of $9.4M left a modest 10% surplus.

Mission

TO FOSTER ECONOMIC GROWTH IN CHESTER COUNTY, PA BY PROVIDING MEANS TO LOW INTEREST FINANCING FOR NEW AND EXISTING BUSINESSES, SITE SELECTION ASSISTANCE, GRANT MANAGEMENT AND OTHER SERVICES.

Program Service Accomplishments

Program 1

Expenses: $9,364,847 Revenue: $7,122,261

VARIOUS LOW-INTEREST STATE FINANCING PROGRAMS TO QUALIFIED BUSINESSES

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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 $3,256,315

Program Service Revenue $7,117,061

Investment Income $64,198

Other Revenue $-23,665

TOTAL REVENUE $10,413,909

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,173,782

Fundraising Expenses $0

Program Expenses $9,364,847

Other Expenses $6,191,065

TOTAL EXPENSES $9,364,847

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,413,909	$4,816,221	+1.2%
Expenses	$9,364,847	$4,107,528	+1.3%
Net Income	$1,049,062	$708,693	+0.5%

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

119

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

$449,633

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL STEDMAN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MICHAEL J HANKIN	FIRST VICE CHAIR	1.00	Officer Director	$0	$0	$0
DR R LORRAINE BERNOTSKY	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL A BRAY	SECRETARY	1.00	Officer Director	$0	$0	$0
ARTHUR A BERNARDON AIA	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
CONRAD M OLIE	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
EDWARD J BREINER	DIRECTOR EMERITUS	0.50	Director	$0	$0	$0
EDWIN A BROWNLEY JR	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
F WILLIAM BOGLE	DIRECTOR EMERTIUS	0.50	Director	$0	$0	$0
FRANK A PILIERO	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
HANNO SPRANGER	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
JIM READING	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
JOHN C SNYDER ESQUIRE	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
JOSH MAXWELL	EX-OFFICIO	0.50	Director	$0	$0	$0
MARIAN D MOSKOWITZ	DIRECTOR EMERITUS	0.50	Director	$0	$0	$0
ERIC ROE	EX-OFFICIO	0.50	Director	$0	$0	$0
NANCY R CORSON	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
R STANLEY SCHUCK	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
ROBERT F FISCHER CPA	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
ROGER N HUGGINS ESQUIRE	DIRECTOR EMERTIUS	0.50	Director	$0	$0	$0
TIM PHELPS	EX-OFFICIO	0.50	Director	$0	$0	$0
A STEVEN KRUG	EX-OFFICIO	0.50	Director	$0	$0	$0
ALBERT D FULLER	BOARD MEMBER	0.50	Director	$0	$0	$0
ANAND SOLANKI	BOARD MEMBER	0.50	Director	$0	$0	$0
ANNETTE F FAVORITE	BOARD MEMBER	0.50	Director	$0	$0	$0
BILL HOSTETTER	BOARD MEMBER	0.50	Director	$0	$0	$0
BRIAN N O'LEARY AICP	GOVERNMENTAL DIRECTOR	0.50	Director	$0	$0	$0
DIANE M DISNEY PHD	HONORARY DIRECTOR	0.50	Director	$0	$0	$0
DR COLIN J NEILL	EX-OFFICIO	0.50	Director	$0	$0	$0
DWAYNE WALTON	BOARD MEMBER	0.50	Director	$0	$0	$0
GAIL B DOOLEY LPN CDP	EX-OFFICIO IP CHAIR	0.50	Director	$0	$0	$0
GEORGE FIORE EDD	EX-OFFICIO	0.50	Director	$0	$0	$0
GREG NEWELL	EX-OFFICIO IP CHAIR	0.50	Director	$0	$0	$0
GREG VIETRI	BOARD MEMBER	0.50	Director	$0	$0	$0
GREGORY REAVES	BOARD MEMBER	0.50	Director	$0	$0	$0
JAMES E TURNER	BOARD MEMBER	0.50	Director	$0	$0	$0
JEANETTE ROMAN	GOVERNMENTAL DIRECTOR	0.50	Director	$0	$0	$0
JOHN J CAMERO	BOARD MEMBER	0.50	Director	$0	$0	$0
JOYCE CHESTER	BOARD MEMBER	0.50	Director	$0	$0	$0
JOSHUA SNYDER	BOARD MEMBER	0.50	Director	$0	$0	$0
LAURA MANION	EX-OFFICIO	0.50	Director	$0	$0	$0
LISA VAN ESS	EX-OFFICIO	0.50	Director	$0	$0	$0
LOUIS B KUPPERMAN ESQUIRE	GOVERNMENTAL DIRECTOR	0.50	Director	$0	$0	$0
MARK DAVIS	BOARD MEMBER	0.50	Director	$0	$0	$0
MATT ADAMS	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL A DEHAVEN CPA	GOVERNMENTAL DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL F MERLIE ESQUIRE	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL J KELLY	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL LONG	BOARD MEMBER	0.50	Director	$0	$0	$0
CRAIG A STYER ESQUIRE	BOARD MEMBER	0.50	Director	$0	$0	$0
MIGUEL BAPTISTA	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL CAPPELLETTI	BOARD MEMBER	0.50	Director	$0	$0	$0
NABILA SAJID	BOARD MEMBER	0.50	Director	$0	$0	$0
PAUL TRUSKOLASKI	BOARD MEMBER	0.50	Director	$0	$0	$0
PERRY BENTLEY	BOARD MEMBER	0.50	Director	$0	$0	$0
PHILLIP EASTMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
RACHEL ROBERTS	BOARD MEMBER	0.50	Director	$0	$0	$0
SASSAN HEJAZI PHD	BOARD MEMBER	0.50	Director	$0	$0	$0
STEVE FIGGATT	BOARD MEMBER	0.50	Director	$0	$0	$0
SUE WATRAS	EX-OFFICIO	0.50	Director	$0	$0	$0
THEO NOTARAS	EX-OFFICIO	0.50	Director	$0	$0	$0
THOMAS J BURKE	EX-OFFICIO	0.50	Director	$0	$0	$0
W PATRICK SCOTT ESQUIRE	BOARD MEMBER	0.50	Director	$0	$0	$0
W TODD POHLIG	EX-OFFICIO	0.50	Director	$0	$0	$0
HELEN J ESBENSHADE ESQUIRE	SOLICITOR FOR CCEDC	0.50	Director	$0	$0	$0
RICHARD FRAZIER ESQUIRE	SOLICITOR FOR CCEDF	0.50	Director	$0	$0	$0
FAWN COLLINGWOOD	BOARD MEMBER	0.50	Director	$0	$0	$0
DR MARTA YERA CRONIN	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID DILWORTH	BOARD MEMBER	0.50	Director	$0	$0	$0
EILEEN PERPIGLIA	BOARD MEMBER	0.50	Director	$0	$0	$0
KARA RAHN	BOARD MEMBER	0.50	Director	$0	$0	$0
JANE TANG	BOARD MEMBER	0.50	Director	$0	$0	$0
MIKE GRIGALONIS	COO	40.00	Officer	$183,740	$28,642	$212,382
GARY SMITH	CEO	40.00	Officer	$205,520	$31,731	$237,251
CHRIS MCHENRY	VP, DEVEL. FINANCE	40.00	Highest	$125,340	$34,177	$159,517
SHERWOOD ROBBINS	DIRECTOR LOAN PROGRAM	40.00	Highest	$167,806	$22,678	$190,484
MARY FRANCES MCGARRITY	BUSINESS DEVELOPMENT DIREC	40.00	Highest	$145,360	$17,539	$162,899

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	$10,413,909	$9,364,847	$14,060,204	$1,049,062
2023	$4,816,221	$4,107,528	$13,364,084	$708,693
2022	$4,006,104	$4,036,032	$5,142,654	$-29,928
2021	$4,683,052	$4,498,953	$5,078,245	$184,099
2020	$4,097,184	$3,866,085	$4,833,417	$231,099
2019	$4,229,269	$4,214,048	$4,259,421	$15,221

CHESTER COUNTY ECONOMIC DEVELOPMENT COUNCIL