Enterprise Development Fund of Erie County Inc

EIN: 251525572 501(c)(3) Community Improvement

Erie, PA

Total Revenue
$807,119
Total Expenses
$172,620
Total Assets
$5,012,110
Net Assets
$1,062,524
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
PA
Principal Officer
CHARLES BARBER
Phone
8144500002
Tax Period
2023-01-01 to 2023-12-31

Enterprise Development Fund of Erie County Inc, founded in 1986, is a small nonprofit in the Community Improvement sector that reported $807K in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum. The organization ran a surplus of $634K, a strong 79% operating margin.

Mission

THIS ORGANIZATION PROVIDES CREDIT, CAPITAL, AND TECHNICAL SUPPORT TO BUSINESSES TO CREATE AND RETAIN JOBS FOR UNDERSERVED POPULATIONS

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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 $602,000
Program Service Revenue $181,621
Investment Income $3,565
Other Revenue $19,933
TOTAL REVENUE $807,119

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $154,535
Other Expenses $172,620
TOTAL EXPENSES $172,620

Year-over-Year Comparison

2023 2022 Change
Revenue $807,119 $583,744 +0.4%
Expenses $172,620 $406,004 -0.6%
Net Income $634,499 $177,740 +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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Financial Health Indicators

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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES BARBER VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
SHERRY BAUER BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM MCANDREW SECRETARY 1.00
Officer Director
$0 $0 $0
SARAH GIAMBANCO TREASURER 1.00
Officer Director
$0 $0 $0
ANTHONY DABREO BOARD MEMBER 1.00
Director
$0 $0 $0
TERRY HOLMES CHAIR 1.00
Officer Director
$0 $0 $0
KAREN THOMAS BOARD MEMBER 1.00
Director
$0 $0 $0
JENNIFER HOFFMAN BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE VENNARE BOARD MEMBER 1.00
Director
$0 $0 $0
KYRA TAYLOR BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID BRENNAN BOARD MEMBER 1.00
Director
$0 $0 $0
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 $807,119 $172,620 $5,012,110 $634,499
2022 $583,744 $406,004 $4,870,106 $177,740
2021 $422,061 $217,352 $4,016,946 $204,709
2020 $342,216 $350,918 $3,601,646 $-8,702
2019 $305,358 $560,583 $3,503,055 $-255,225
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