ALLENTOWN ECONOMIC DEVELOPMENT COR… - 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

1979

Legal Domicile

Principal Officer

R SCOTT UNGER

Phone

6104358890

Tax Period

2024-07-01 to 2025-06-30

ALLENTOWN ECONOMIC DEVELOPMENT CORPORATION, founded in 1979, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2024. Revenue surged 124% from the prior year, signaling strong growth momentum.

Mission

TO PROACTIVELY IDENTIFY, ENCOURAGE, MANAGE AND DEVELOP STRATEGIC BUSINESS OPPORTUNITIES FOR THE BENEFIT OF ALLENTOWN, ITS CITIZENS, AND THE LEHIGH VALLEY.

Program Service Accomplishments

Program 1

Expenses: $2,267,363 Revenue: $1,308,514

PROPERTY MANAGEMENT: MAINTAINING OF OLDER INDUSTRIAL BUILDINGS AND ATTRACTING MANUFACTURERS TO OPERATE FROM AN URBAN LOCATION. THIS IN TURN IS A SUSTAINABLE WAY OF UTILIZING INDUSTRIAL SPACE WHICH...

PROPERTY MANAGEMENT: MAINTAINING OF OLDER INDUSTRIAL BUILDINGS AND ATTRACTING MANUFACTURERS TO OPERATE FROM AN URBAN LOCATION. THIS IN TURN IS A SUSTAINABLE WAY OF UTILIZING INDUSTRIAL SPACE WHICH CREATES GROWTH OPPORTUNITIES FOR THE CITY AND JOBS FOR ITS RESIDENTS. IN ADDITION, MAINTAIN OTHER PROPERTIES THAT WERE DEVELOPED ON VACANT AND BLIGHTED AREAS AND HELP OLDER PROPERTY MAINTENANCE WHICH HOUSE NON-PROFITS BENEFITING THE RESIDENTS OF THE CITY OF ALLENTOWN.

Program 2

Expenses: $300,426 Revenue: $179,445

DEVELOPMENT PROJECTS: DEVELOPMENT OF ACQUIRED PROPERTIES THAT WERE EITHER BLIGHTED OR UNDERUTILIZED. CREATE NEW JOBS AND FURTHER ECONOMIC DEVELOPMENT BY GETTING THESE PROPERTIES TO A SUSTAINABLE USE.

Program 3

Expenses: $389,126 Revenue: $533,822

INCUBATION: ENCOURAGING AND FOSTERING THE DEVELOPMENT OF ECONOMIC GROWTH THROUGH THE ESTABLISHMENT AND MAINTENANCE OF A SMALL BUSINESS INCUBATOR FACILITY WHERE NEW AND GROWING BUSINESSES OPERATE...

INCUBATION: ENCOURAGING AND FOSTERING THE DEVELOPMENT OF ECONOMIC GROWTH THROUGH THE ESTABLISHMENT AND MAINTENANCE OF A SMALL BUSINESS INCUBATOR FACILITY WHERE NEW AND GROWING BUSINESSES OPERATE UNDER ONE ROOF WITH LOW COST RENTAL, SHARED SERVICES AND EQUIPMENT, AND ACCESS TO PROFESSIONAL, TECHNICAL AND FINANCIAL PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,560,509

Program Service Revenue $1,909,473

Investment Income $187,826

Other Revenue $159,945

TOTAL REVENUE $3,817,753

Expense Breakdown

Grants Paid $0

Salaries & Benefits $952,395

Fundraising Expenses $0

Program Expenses $3,124,115

Other Expenses $2,958,864

TOTAL EXPENSES $3,911,259

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,817,753	$1,706,842	+1.2%
Expenses	$3,911,259	$2,157,250	+0.8%
Net Income	$-93,506	$-450,408	-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

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

$191,587

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD M BERNHARD	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JOHN G ENGLESSON	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MATTHEW B GREEN	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN E YOUNGS	TREASURER	1.00	Officer Director	$0	$0	$0
MATTHEW TUERK	DIRECTOR	1.00	Director	$0	$0	$0
DON CUNNINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD ROMA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID QUIER	DIRECTOR	1.00	Director	$0	$0	$0
VICKY KISTLER	DIRECTOR	1.00	Director	$0	$0	$0
DARYL HENDRICKS	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY J HOLT	DIRECTOR	1.00	Director	$0	$0	$0
DAN QUAY	DIRECTOR	1.00	Director	$0	$0	$0
JAMES K HARBAUGH	DIRECTOR	1.00	Director	$0	$0	$0
R SCOTT UNGER	EXECUTIVE DIRECTOR	40.00	Officer	$165,575	$26,012	$191,587

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	$3,817,753	$3,911,259	$12,107,342	$-93,506
2024	$1,706,842	$2,157,250	$11,184,689	$-450,408
2023	$-13,870,273	$1,967,055	$14,594,861	$-15,837,328
2022	$2,229,356	$1,882,934	$29,276,532	$346,422
2021	$1,731,246	$1,894,181	$28,611,870	$-162,935
2020	$1,730,835	$1,694,481	$28,881,129	$36,354
2019	$982,360	$1,752,558	$28,589,201	$-770,198
2018	$1,577,103	$1,775,878	$29,169,004	$-198,775

ALLENTOWN ECONOMIC DEVELOPMENT CORPORATION