Civic Intelligence

Delaware Valley Regional Economic Development Fund

990 • Fiscal year 2019 • EIN 23-2801099

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 19, 2020

Organization ProfileWWW.DVREDF.ORG
1500 Market Street 12th FL East TwrPhiladelphia, PA 19102

(215) 531-7450

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2019

Net Margin

78th percentile

29%

Higher net margin than 78% of similar nonprofits.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

28th percentile

$93,638

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Source year 2019

Asset Growth

38th percentile

2.1%

Faster asset growth than 38% of similar nonprofits.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

20th percentile

-9.9%

Faster revenue growth than 20% of similar nonprofits.

2019 filings • 501(c)4 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$27,857,352

Up $574,931 (+2.1%) from 2018

Net Assets

Up

$27,833,804

Up $599,114 (+2.2%) from 2018

Liabilities

Down

$23,548

Down $24,183 (-51%) from 2018

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin78th percentile

Revenue

Down

$1,207,586

Down $132,392 (-9.9%) from 2018

Expenses

Up

$857,940

Up $267,309 (+45%) from 2018

Net Income

Down

$349,646

Down $399,701 (-53%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$40M$30M$20M$10M$0Assets 2011: $20,190,153Liabilities 2011: $47,020Net Assets 2011: $20,143,1332011Assets 2012: $19,516,746Liabilities 2012: $30,155Net Assets 2012: $19,486,5912012Assets 2013: $20,669,102Liabilities 2013: $16,533Net Assets 2013: $20,652,5692013Assets 2014: $22,887,715Liabilities 2014: $95,427Net Assets 2014: $22,792,2882014Assets 2015: $23,315,514Liabilities 2015: $7,978Net Assets 2015: $23,307,5362015Assets 2016: $22,393,278Liabilities 2016: $35,852Net Assets 2016: $22,357,4262016Assets 2017: $24,669,779Liabilities 2017: $32,393Net Assets 2017: $24,637,3862017Assets 2018: $27,282,421Liabilities 2018: $47,731Net Assets 2018: $27,234,6902018Assets 2019: $27,857,352Liabilities 2019: $23,548Net Assets 2019: $27,833,8042019Assets 2020: $27,050,503Liabilities 2020: $272,094Net Assets 2020: $26,778,4092020Assets 2021: $33,395,418Liabilities 2021: $61,579Net Assets 2021: $33,333,8392021Assets 2022: $35,443,943Liabilities 2022: $51,961Net Assets 2022: $35,391,9822022Assets 2023: $28,149,503Liabilities 2023: $22,899Net Assets 2023: $28,126,6042023

Highlighted filing

2019

Assets$27,857,352
Liabilities$23,548
Net Assets$27,833,804
Open 2019 Filing

Operations Trend

Revenue Growth20th percentile

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

$10M$5.0M$0-$5.0M-$10MExpenses 2011: $605,9132011Expenses 2012: $519,6922012Expenses 2013: $630,3182013Revenue 2014: $1,298,767Expenses 2014: $869,863Net Income 2014: $428,9042014Revenue 2015: $1,647,196Expenses 2015: $317,402Net Income 2015: $1,329,7942015Revenue 2016: $566,423Expenses 2016: $346,501Net Income 2016: $219,9222016Revenue 2017: $469,470Expenses 2017: $361,104Net Income 2017: $108,3662017Revenue 2018: $1,339,978Expenses 2018: $590,631Net Income 2018: $749,3472018Revenue 2019: $1,207,586Expenses 2019: $857,940Net Income 2019: $349,6462019Revenue 2020: -$875,442Expenses 2020: $1,955,276Net Income 2020: -$2,830,7182020Revenue 2021: $1,486,740Expenses 2021: $717,135Net Income 2021: $769,6052021Revenue 2022: $2,146,988Expenses 2022: $891,617Net Income 2022: $1,255,3712022Revenue 2023: $1,185,199Expenses 2023: $7,181,975Net Income 2023: -$5,996,7762023

Highlighted filing

2019

Revenue$1,207,586
Expenses$857,940
Net Income$349,646
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 19, 2020
Return Version
2018v3.1
Gross Receipts
$3,315,503
Mission and Program Overview

Mission

To serve southeastern pennsylvania by promoting economic development with job impact, assisting area entities to secure necessary capital to grow and prosper, and supporting and promoting tourism.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,722,073$17,024,430▼ $697,643
Investments Other Securities$7,787,771$7,962,870▲ $175,099
Savings and Temporary Cash Investments$1,272,601$2,241,079▲ $968,478
Other Notes and Loans Receivable, Net$412,088$540,060▲ $127,972
Total Assets$27,282,421$27,857,352▲ $574,931
Other Assets Total$87,888$88,913▲ $1,025
Liabilities
Accounts Payable and Accrued Expenses$47,731$23,548▼ $24,183
Total Liabilities$47,731$23,548▼ $24,183
Net Assets / Fund Balance
Unrestricted Net Assets$14,917,876$18,771,255▲ $3,853,379
Temporarily Rstr Net Assets$12,316,814$9,062,549▼ $3,254,265
Total Net Assets Fund Balance$27,234,690$27,833,804▲ $599,114
Total Liabilities and Net Assets / Fund Balance$27,282,421$27,857,352▲ $574,931

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$2,551,314--
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseTotal
John CoffmanExecutive DirectorFT$93,638$93,638

Board Members and Trustees

NameTitle
Thomas J EllisPresident
Albert MezzarobaMember
Gaetano PiccirilliSecretary
Anthony DisandroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Montgomery Mccracken Walker & Rhoads LlLegal123 S BROAD STREET, Philadelphia, PA 19109$184,971
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,126
Investment Income
$1,187,460
Other Revenue
$0
Change in Net Assets
$349,646

Audited Revenue Reconciliation

Revenue per Audited Statements
$966,338
Revenue Not Reported on Financial Statements
$241,248
Revenue Not Reported on Form 990
$449,469
Total Revenue per Audited Statements
$1,415,807
Total Revenue per Form 990
$1,207,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$751,398
Salaries, Compensation, and Employee Benefits$106,542
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$200,000--$200,000
Fees for Services Legal$43,069$141,902-$184,971
Fees for Services Management-$157,161-$157,161
Current Officers, Directors, Trustees, and Key Employees$74,010$24,670-$98,680
Fees for Service Investment Mgmnt Fees-$84,087-$84,087
Advertising$37,307--$37,307
Fees for Services Accounting-$36,321-$36,321
Occupancy$19,556$6,519-$26,075
Insurance$12,700$4,232-$16,932
Payroll Taxes$5,896$1,966-$7,862
Office Expenses$3,400$1,133-$4,533
Travel$3,008$1,003-$4,011
Total Functional Expenses$398,946$458,994$0$857,940

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$857,940
Expenses per Audited Statements$616,692
Total Expenses per Audited Statements$616,692
Expenses Not Reported on Financial Statements$241,248
Expenses Not Reported on Form 990$0
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
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
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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 B, Line 11B

“Once the 990 is completed by the tax preparers, it will be reviewed by the executive director. Once approved, and with recommendation, it will be sent to the full board of directors for comment. If no comments are received by the full board, it will be considered approved for submission.”

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

“At the start of each board meeting, board members are asked to state whether any new conflicts have arisen.”

Form 990, Part VI, Section B, Line 15A

“The executive director compensation was determined by use of an independent consultant that provided comparability salary data and assisted in writing the postions job description.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available on guidestar”

Filing and Contact Details

Filer

Filer Name
Delaware Valley Regional Economic
EIN
23-2801099
Phone
2155317450
Address
1500 MARKET STREET 12TH FL EAST TWR, PHILADELPHIA, PA 19102

Signing Officer

Name
John Coffman
Title
Executive Director
Phone
2155317450
Signed
2020-06-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Coffman
Formed
1994
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
1
Volunteers
0

Preparer

Firm
Isdaner & Company LLC
Address
THREE BALA PLAZA SUITE 501 WEST, BALA CYNWYD, PA 19004-3484
Preparer
Edward W Doran CPA
Phone
6106684200
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process has not changed from the prior year”

Financial Statement Notes

PART X, LINE 2:

“Dvredf is exempt from tax under section 501(c)(4) of the internal revenue code. Pursuant to fasb accounting standards codification topic 740, dvredf recognizes tax benefits only if it is more likely than not that a tax position (including dvredf's assertion that its income is exempt from tax) will be sustained upon examination. No liability for uncertain tax positions was recorded as of june 30, 2019.”

Raw XML Appendix360 raw XML fields

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

Path#Value
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0241248
IRS990ScheduleD/RevenueSubtotalAmt0966338
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DVREDF IS EXEMPT FROM TAX UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. PURSUANT TO FASB ACCOUNTING STANDARDS CODIFICATION TOPIC 740, DVREDF RECOGNIZES TAX BENEFITS ONLY IF IT IS MORE LIKELY THAN NOT THAT A TAX POSITION (INCLUDING DVREDF'S ASSERTION THAT ITS INCOME IS EXEMPT FROM TAX) WILL BE SUSTAINED UPON EXAMINATION. NO LIABILITY FOR UNCERTAIN TAX POSITIONS WAS RECORDED AS OF JUNE 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt07962870
IRS990ScheduleD/TotalExpensesPerForm990Amt0857940
IRS990ScheduleD/TotalRevenuePerForm990Amt01207586
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01415807
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0616692
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ONCE THE 990 IS COMPLETED BY THE TAX PREPARERS, IT WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR. ONCE APPROVED, AND WITH RECOMMENDATION, IT WILL BE SENT TO THE FULL BOARD OF DIRECTORS FOR COMMENT. IF NO COMMENTS ARE RECEIVED BY THE FULL BOARD, IT WILL BE CONSIDERED APPROVED FOR SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE START OF EACH BOARD MEETING, BOARD MEMBERS ARE ASKED TO STATE WHETHER ANY NEW CONFLICTS HAVE ARISEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BY USE OF AN INDEPENDENT CONSULTANT THAT PROVIDED COMPARABILITY SALARY DATA AND ASSISTED IN WRITING THE POSTIONS JOB DESCRIPTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE ON GUIDESTAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt012316814
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt09062549
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt027282421
IRS990/TotalAssetsEOYAmt027857352
IRS990/TotalAssetsGrp/BOYAmt027282421
IRS990/TotalAssetsGrp/EOYAmt027857352
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0458994
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0398946
IRS990/TotalFunctionalExpensesGrp/TotalAmt0857940
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt047731
IRS990/TotalLiabilitiesEOYAmt023548
IRS990/TotalLiabilitiesGrp/BOYAmt047731
IRS990/TotalLiabilitiesGrp/EOYAmt023548
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt027234690
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt027833804
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0398946
IRS990/TotalProgramServiceRevenueAmt020126
IRS990/TotalReportableCompFromOrgAmt093638
IRS990/TotalRevenueGrp/ExclusionAmt01187460
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt020126
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01207586
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt027282421
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt027857352
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt01003
IRS990/TravelGrp/ProgramServicesAmt03008
IRS990/TravelGrp/TotalAmt04011
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt014917876
IRS990/UnrestrictedNetAssetsGrp/EOYAmt018771255
IRS990/USAddress/AddressLine1Txt01500 MARKET STREET 12TH FL EAST TWR
IRS990/USAddress/CityNm0PHILADELPHIA
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019102
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.DVREDF.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN COFFMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02155317450
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DELAWARE VALLEY REGIONAL ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT FUND
ReturnHeader/Filer/BusinessNameControlTxt0DELA
ReturnHeader/Filer/EIN0232801099
ReturnHeader/Filer/PhoneNum02155317450
ReturnHeader/Filer/USAddress/AddressLine1Txt01500 MARKET STREET 12TH FL EAST TWR
ReturnHeader/Filer/USAddress/CityNm0PHILADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019102
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FDFB67326D3BD86D729B3F209F121AADFA157337
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09C6534ECA8581E3D8C63CA8818AE5741389B119A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0100.19.81.45
ReturnHeader/FilingSecurityInformation/IPDt02020-06-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm009:11:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0236410283
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ISDANER & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0THREE BALA PLAZA SUITE 501 WEST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BALA CYNWYD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0190043484
ReturnHeader/PreparerPersonGrp/PhoneNum06106684200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDWARD W DORAN CPA
ReturnHeader/ReturnTs02020-06-30T16:00:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,857,352
Liabilities
$23,548
Net assets
$27,833,804
Revenue
$1,207,586
Expenses
$857,940
Net income
$349,646
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$28.1$0.02$28.1$1.19$7.18$6.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.4$0.05$35.4$2.15$0.89$1.26
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$0.06$33.3$1.49$0.72$0.77
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.1$0.27$26.8$0.88$1.96$2.83
2019Detailed filing. Detailed filing data is available for this year.$27.9$0.02$27.8$1.21$0.86$0.35
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$0.05$27.2$1.34$0.59$0.75
2017Summary only. Only limited summary data is available for this year.$24.7$0.03$24.6$0.47$0.36$0.11
2016Detailed filing. Detailed filing data is available for this year.$22.4$0.04$22.4$0.57$0.35$0.22
2015Detailed filing. Detailed filing data is available for this year.$23.3$0.01$23.3$1.65$0.32$1.33
2014Summary only. Only limited summary data is available for this year.$22.9$0.10$22.8$1.30$0.87$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.7$0.02$20.7$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.5$0.03$19.5$0.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.2$0.05$20.1$0.61