Civic Intelligence

South Eastern Economic Development Company of Pennsylvania

990 • Fiscal year 2016 • EIN 22-2490679

Oct 01, 2015 to Sep 30, 2016 • Filed on Jan 09, 2017

Organization ProfileWWW.SEEDCOPA.COM
737 Constitution DriveExton, PA 19341

(610) 458-5700

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.42x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

0.75x

Higher debt load relative to revenue than 90% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

29th percentile

-1.3%

Higher net margin than 29% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

92nd percentile

37%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-30%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$2,475,442

Up $662,956 (+37%) from 2015

Net Assets

Down

$1,432,338

Down $17,567 (-1.2%) from 2015

Liabilities

Up

$1,043,104

Up $680,523 (+188%) from 2015

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin29th percentile

Revenue

Down

$1,396,752

Down $585,020 (-30%) from 2015

Expenses

Down

$1,414,319

Down $352,274 (-20%) from 2015

Net Income

Down

-$17,567

Down $232,746 (-108%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2011: $135,135,608Liabilities 2011: $134,984,570Net Assets 2011: $151,0382011Assets 2012: $149,586,039Liabilities 2012: $149,260,990Net Assets 2012: $325,0492012Assets 2013: $153,174,157Liabilities 2013: $152,256,692Net Assets 2013: $917,4652013Assets 2014: $160,362,470Liabilities 2014: $159,127,744Net Assets 2014: $1,234,7262014Assets 2015: $1,812,486Liabilities 2015: $362,581Net Assets 2015: $1,449,9052015Assets 2016: $2,475,442Liabilities 2016: $1,043,104Net Assets 2016: $1,432,3382016Assets 2017: $2,253,654Liabilities 2017: $539,071Net Assets 2017: $1,714,5832017Assets 2018: $2,280,033Liabilities 2018: $219,744Net Assets 2018: $2,060,2892018Assets 2019: $2,316,988Liabilities 2019: $265,941Net Assets 2019: $2,051,0472019Assets 2020: $2,885,740Liabilities 2020: $353,457Net Assets 2020: $2,532,2832020Assets 2021: $3,531,785Liabilities 2021: $771,990Net Assets 2021: $2,759,7952021Assets 2022: $4,125,560Liabilities 2022: $1,153,022Net Assets 2022: $2,972,5382022Assets 2023: $4,280,310Liabilities 2023: $1,325,155Net Assets 2023: $2,955,1552023

Highlighted filing

2016

Assets$2,475,442
Liabilities$1,043,104
Net Assets$1,432,338
Open 2016 Filing

Operations Trend

Revenue Growth4th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,703,128Expenses 2011: $1,659,423Net Income 2011: $43,7052011Expenses 2012: $1,818,4022012Expenses 2013: $1,489,4482013Revenue 2014: $1,747,317Expenses 2014: $1,430,056Net Income 2014: $317,2612014Revenue 2015: $1,981,772Expenses 2015: $1,766,593Net Income 2015: $215,1792015Revenue 2016: $1,396,752Expenses 2016: $1,414,319Net Income 2016: -$17,5672016Revenue 2017: $1,646,309Expenses 2017: $1,364,064Net Income 2017: $282,2452017Revenue 2018: $1,733,461Expenses 2018: $1,387,755Net Income 2018: $345,7062018Revenue 2019: $1,320,527Expenses 2019: $1,329,769Net Income 2019: -$9,2422019Revenue 2020: $1,830,848Expenses 2020: $1,349,612Net Income 2020: $481,2362020Revenue 2021: $1,614,452Expenses 2021: $1,386,940Net Income 2021: $227,5122021Revenue 2022: $1,651,017Expenses 2022: $1,438,274Net Income 2022: $212,7432022Revenue 2023: $1,638,016Expenses 2023: $1,655,399Net Income 2023: -$17,3832023

Highlighted filing

2016

Revenue$1,396,752
Expenses$1,414,319
Net Income-$17,567
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Jan 9, 2017
Return Version
2015v3.0
Gross Receipts
$1,396,752
Mission and Program Overview

Mission

Foster the industrial and commercial growth of southeastern pennsylvania by providing financing available through the u.s. Small business administration loan programs to new, expanded and rehabilitated industrial and commercial projects.

Foster the industrial and commercial growth of southeastern pa

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,150,283$1,851,434▲ $701,151
Other Notes and Loans Receivable, Net$587,853$530,208▼ $57,645
Accounts Receivable$49,856$67,886▲ $18,030
Prepaid Expenses and Deferred Charges$11,173$12,004▲ $831
Land, Buildings, and Equipment, Net$6,350$2,482▼ $3,868
Total Assets$1,812,486$2,475,442▲ $662,956
Other Assets Total$6,971$11,428▲ $4,457
Liabilities
Other Liabilities$88,751$751,794▲ $663,043
Escrow Account Liability$230,962$202,306▼ $28,656
Accounts Payable and Accrued Expenses$42,868$89,004▲ $46,136
Total Liabilities$362,581$1,043,104▲ $680,523
Net Assets / Fund Balance
Temporarily Rstr Net Assets$983,949$1,011,235▲ $27,286
Unrestricted Net Assets$465,956$421,103▼ $44,853
Total Net Assets Fund Balance$1,449,905$1,432,338▼ $17,567
Total Liabilities and Net Assets / Fund Balance$1,812,486$2,475,442▲ $662,956

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,482$40,546$43,028
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
F William BogleChairman
Edward J BreinerFirst Vice Chairman
Daniel G OstienSecond Vice Chairman
Andrew StumpBoard Member
Bill StedmanBoard Member
Charles KochkaBoard Member
Deborah Spranger EsqBoard Member
Diane M Disney PhdBoard Member
James G ReadingBoard Member
Julie SommeseBoard Member
Kenneth GodduBoard Member
Kristen LadowBoard Member
Mark RupsisBoard Member
Michael CappellettiBoard Member
Michael J HankinBoard Member
Paul LamparskiBoard Member
Ray H OttBoard Member
Richard GraverBoard Member
Richard SarfertBoard Member
Richard StiebritzBoard Member
Roger N Huggins EsqBoard Member
Stacey ValentBoard Member
Michael GrigalonisCOO/assistant Director
Gary SmithExecutive Director
Sherwood RobbinsManaging Director
John BuckheitCFO
Craig a Styer EsqSecretary
Marian D MoskowitzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,386,835
Investment Income
$9,917
Other Revenue
$0
Change in Net Assets
$-17,567

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,396,752
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,396,752
Total Revenue per Form 990
$1,396,752
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,314,319
Grants and Similar Amounts Paid$100,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$133,367
Grants to Domestic Orgs---$100,000
Other Expenses---$29,563
Fees for Services Accounting---$13,600
Travel---$13,273
Office Expenses---$10,773
Fees for Services Legal---$4,414
Depreciation Depletion---$3,868
Occupancy---$2,700
Total Functional Expenses$0$0$0$1,414,319

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,414,319
Total Expenses per Audited Statements$1,414,319
Total Expenses per Form 990$1,414,319
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chester County Economic Development CouncilExton, PA501(c)6Economic Development in Chester County, Pa$100,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Roger N HugginsesqBoard MemberFees Were Paid to the Lawfirm of Gawthrop Greenwood Pc (of Which Roger N. Huggins,esq Is a Partner) for General Legal Expenses.No$986
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Revenues - Pa Ssbci Funds$704,866
Unearned Deposits$45,137
Unearned Revenues - Other$1,791
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization at all times has at least 9 individual members and does not exceed 25 invidual members.”

Form 990, Part VI, Section A, Line 7A

“Each member is entitled to cast one vote at any election of the directors of the organization.”

Form 990, Part VI, Section B, Line 11

“Final 990 is reviewed by cfo to ensure accuracy and consistency with audited financial statements. Subsequently it is distributed to the executive committee of the board of directors and is reviewed with and approved by them at one of their monthly meetings prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest policy is reviewed annually by the executive committee and approved by the board.”

Form 990, Part VI, Section C, Line 19

“These documents are made available to the public only upon direct request to the organization”

Filing and Contact Details

Filer

Filer Name
South Eastern Economic Development
EIN
22-2490679
Phone
6104585700
Address
737 CONSTITUTION DRIVE, EXTON, PA 19341

Signing Officer

Name
John Buckheit
Title
CFO
Phone
6104585700
Signed
2017-01-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Smith
Formed
1983
Legal Domicile
Pa
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
0

Preparer

Firm
Maillie Llp
Address
624 WILLOWBROOK LANE, WEST CHESTER, PA 19382
Preparer
Craig S Springer CPA
Phone
6106964353
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2

“The board of directors oversees the audit and is involved in the selection of the independent auditors.”

Financial Statement Notes

PART IV, LINE 2B:

“Funds held in escrow include insurance proceeds as stipulated by escrow and loan agreements. Funds will be released at the discretion of the sba.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt25CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR
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IRS990/GroupReturnForAffiliatesInd00
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IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FOSTER THE INDUSTRIAL AND COMMERCIAL GROWTH OF SOUTHEASTERN PENNSYLVANIA BY PROVIDING FINANCING AVAILABLE THROUGH THE U.S. SMALL BUSINESS ADMINISTRATION LOAN PROGRAMS TO NEW, EXPANDED AND REHABILITATED INDUSTRIAL AND COMMERCIAL PROJECTS.
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc2COMPUTER SERVICES
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IRS990/PoliticalCampaignActyInd00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1UNEARNED REVENUES - PA SSBCI FUNDS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,475,442
Liabilities
$1,043,104
Net assets
$1,432,338
Revenue
$1,396,752
Expenses
$1,414,319
Net income
-$17,567
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$4.28$1.33$2.96$1.64$1.66$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.13$1.15$2.97$1.65$1.44$0.21
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.53$0.77$2.76$1.61$1.39$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.89$0.35$2.53$1.83$1.35$0.48
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.32$0.27$2.05$1.32$1.33$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.22$2.06$1.73$1.39$0.35
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$0.54$1.71$1.65$1.36$0.28
2016Detailed filing. Detailed filing data is available for this year.$2.48$1.04$1.43$1.40$1.41$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.81$0.36$1.45$1.98$1.77$0.22
2014Summary only. Only limited summary data is available for this year.$160$159$1.23$1.75$1.43$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$153$152$0.92$1.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$150$149$0.33$1.82
2011Summary only. Only limited summary data is available for this year.$135$135$0.15$1.70$1.66$0.04
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)6 • $1M-$5M nonprofits