GREATER BERKS DEVELOPMENT FUND (EIN 236392284) - Form 990 Financial Analysis & Trantor Score

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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

1947

Legal Domicile

Principal Officer

DEBRA MILLMAN

Phone

6103766766

Tax Period

2024-01-01 to 2024-12-31

GREATER BERKS DEVELOPMENT FUND, founded in 1947, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 22% operating margin.

Mission

THE GREATER BERKS DEVELOPMENT FUND AIDS AND PROMOTES ECONOMIC AND INDUSTRIAL EXPANSION, AND CONTRIBUTES TO THE ECONOMIC WELL-BEING OF READING AND BERKS COUNTY BY FACILITATING, PROMOTING, AND PARTICIPATING IN AND FINANCING ECONOMIC DEVELOPMENT AND COMMUNITY REVITALIZATION PROJECTS.

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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 $1,156,228

Program Service Revenue $2,817,298

Investment Income $833,064

Other Revenue $47,018

TOTAL REVENUE $4,853,608

Expense Breakdown

Grants Paid $0

Salaries & Benefits $594,261

Fundraising Expenses $0

Program Expenses $3,289,601

Other Expenses $3,194,923

TOTAL EXPENSES $3,789,184

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,853,608	$3,411,004	+0.4%
Expenses	$3,789,184	$3,293,042	+0.2%
Net Income	$1,064,424	$117,962	+8.0%

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

N/A

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

$586,166

Total Directors

$404,099

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL R LANGDON	CHAIRMAN OF THE BOARD	1.00	Officer Director	$0	$0	$0
ERNEST J CHOQUETTE ESQ	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
DEBRA L MILLMAN	PRESIDENT	35.00	Officer Director	$0	$25,425	$192,956
MICHAEL A DUFF	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL VIND	TREASURER	1.00	Officer Director	$0	$0	$0
CHARLES F BARBERA MD	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH N BUTTO	BOARD MEMBER	1.00	Director	$0	$0	$0
GLYNIS FITZGERALD	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN HANNA	BOARD MEMBER	1.00	Director	$0	$0	$0
GINGER KUNKEL	BOARD MEMBER	1.00	Director	$0	$0	$0
SUSAN D LOONEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMEY MAACK	BOARD MEMBER	1.00	Director	$0	$0	$0
TIMOTHY D ROMIG	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFERY R RUSH	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH J SIGLE	BOARD MEMBER	1.00	Director	$0	$0	$0
NICK STOLTZFUS	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINA L WEEBER	BOARD MEMBER	1.00	Director	$0	$0	$0
LUCINE SIHELNIK	CEO	10.00	Officer Director	$0	$26,454	$211,143
SARA STEWART	ASST TREASURER	20.00	Officer	$0	$16,762	$182,067

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	$4,853,608	$3,789,184	$35,401,732	$1,064,424
2023	$3,411,004	$3,293,042	$36,750,712	$117,962
2022	$4,581,165	$3,168,289	$36,026,079	$1,412,876
2021	$9,719,449	$9,034,282	$39,552,158	$685,167
2020	$7,944,395	$4,645,462	$54,955,494	$3,298,933
2019	$4,741,589	$3,976,072	$56,744,057	$765,517
2018	$3,635,548	$4,100,201	$43,940,691	$-464,653

GREATER BERKS DEVELOPMENT FUND