Pennsylvania Economic Development Association (EIN 251593272) - 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

1991

Legal Domicile

Phone

7174416047

Tax Period

2023-01-01 to 2023-12-31

Pennsylvania Economic Development Association, founded in 1991, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2023. Revenue surged 173% from the prior year, signaling strong growth momentum. The organization ran a surplus of $568K, a strong 56% operating margin.

Mission

TO REPRESENT THE NEEDS, CONCERNS AND COLLECTIVE GOALS OF ECONOMIC DEVELOPMENT PROFESSIONALS THROUGHOUT THE COMMONWEALTH OF PENNSYLVANIA BY (A) ENCOURAGING, PROMOTING AND PROVIDING OPPORTUNITIES FOR PROFESSIONAL GROWTH AND DEVELOPMENT THROUGH EDUCATIONAL PROGRAMS AND CONFERENCES; (B) PROMOTING A NETWORK FOR THE EXCHANGE OF ECONOMIC DEVELOPMENT INFORMATION IN THE COMMONWEALTH OF PENNSYLVANIA; (C) IDENTIFYING CRITICAL ISSUES AFFECTING ECONOMIC ACTIVITY IN THE COMMONWEALTH OF PENNSYLVANIA AND DEVELOPING AND COMMUNICATING POLICY RECOMMENDATIONS TO ADDRESS THESE ISSUES; (D) PROMOTING POLICIES AND INITIATIVES THAT WILL RETAIN AND EXPAND EXISTING BUSINESS, ATTRACT NEW BUSINESS AND ENCOURAGE BUSINESS FORMATION; (E) EDUCATING MEMBERS ON CURRENT ECONOMIC DEVELOPMENT TOPICS; (F) INFORMING LOCAL, STATE AND NATIONAL LEGISLATORS ON AREAS OF STATEWIDE CONCERN TO ECONOMIC DEVELOPMENT PROFESSIONALS; (G) COMMUNICATION WITH THE STATE ADMINISTRATION ON EXISTING PROGRAMS, AS WELL AS INNOVATIVE PROPOSALS IN

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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 $647,500

Program Service Revenue $361,563

Investment Income $9,162

Other Revenue $0

TOTAL REVENUE $1,018,225

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $450,155

TOTAL EXPENSES $450,155

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,018,225	$372,615	+1.7%
Expenses	$450,155	$303,460	+0.5%
Net Income	$568,070	$69,155	+7.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RACHEL PROSSER	Director	0.50	Director	$0	$0	$0
LAURA GOODRICH CAIRNS	Vice President	0.50	Officer Director	$0	$0	$0
LISA RIGGS	Director	0.50	Director	$0	$0	$0
MICHAEL GRIGALONIS	Past President	0.50	Officer Director	$0	$0	$0
Jeffrey Box	Director	0.50	Director	$0	$0	$0
JOHN BIEMILLER	Director	0.50	Director	$0	$0	$0
PHIL EASTMAN	Director	0.50	Director	$0	$0	$0
RYAN GLENN	Director	0.50	Director	$0	$0	$0
KENETHA HANSEN	Director	0.50	Director	$0	$0	$0
ABBY SMITH	Director	0.50	Director	$0	$0	$0
RYAN UNGER	Director	0.50	Director	$0	$0	$0
DAVID ZELLERS JR	Director	0.50	Director	$0	$0	$0
MARY BETH WOOD	Director	0.50	Director	$0	$0	$0
MICHELLE BISBING	Director	0.50	Director	$0	$0	$0
MELISSA STONE	Treasurer	0.50	Officer Director	$0	$0	$0
ROBERT SWALES	Vice President	0.50	Officer Director	$0	$0	$0
STEPHEN MCKNIGHT	President	0.50	Officer Director	$0	$0	$0
ANGELA ANNIBALE	Director	0.50	Director	$0	$0	$0
LISA NENTWICK	Director	0.50	Director	$0	$0	$0
ERNIE POST	Director	0.50	Director	$0	$0	$0
Joshua Skopp	Executive Dir.	40.00	Officer	$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	$1,018,225	$450,155	$822,197	$568,070
2022	$372,615	$303,460	$254,127	$69,155
2021	$246,868	$276,257	$184,972	$-29,389
2020	$212,479	$245,473	$214,361	$-32,994
2019	$298,798	$373,460	$247,355	$-74,662
2018	$311,428	$331,235	$330,450	$-19,807

Pennsylvania Economic Development Association