Civic Intelligence

Enterprise Development Center of Erie County Inc

EIN 25-1524446 • 501(c)3 • Erie, PA

Pub. 78 Eligible990-N Coverage

Profile

To facilitate retention and creation of jobs and increase prosperity in the Erie region while building the economic development infrastructure through the acquisition, development and redevelopment of real estate in Erie County.

1314 Griswold PlazaErie, PA 16501

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.65x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

1.83x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

94th percentile

71%

Higher net margin than 94% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

98th percentile

201%

Faster asset growth than 98% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

221%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$24,222,074

Up $16,179,025 (+201%) from 2023

Liabilities

Up

$15,720,724

Up $10,074,438 (+178%) from 2023

Net Assets

Up

$8,501,350

Up $6,104,587 (+255%) from 2023

Operations
Liabilities / Revenue88th percentileNet Margin94th percentile

Revenue

Up

$8,593,440

Up $5,913,708 (+221%) from 2023

Expenses

Up

$2,488,853

Up $1,553,295 (+166%) from 2023

Net Income

Up

$6,104,587

Up $4,360,413 (+250%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth98th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2017: $48,896Liabilities 2017: $2,359Net Assets 2017: $46,5372017Assets 2018: $350,762Liabilities 2018: $322,827Net Assets 2018: $27,9352018Assets 2019: $308,897Liabilities 2019: $327,289Net Assets 2019: -$18,3922019Assets 2020: $294,757Liabilities 2020: $386,577Net Assets 2020: -$91,8202020Assets 2021: $1,164,868Liabilities 2021: $1,308,032Net Assets 2021: -$143,1642021Assets 2022: $4,489,266Liabilities 2022: $3,836,677Net Assets 2022: $652,5892022Assets 2023: $8,043,049Liabilities 2023: $5,646,286Net Assets 2023: $2,396,7632023Assets 2024: $24,222,074Liabilities 2024: $15,720,724Net Assets 2024: $8,501,3502024

Highlighted filing

2024

Assets$24,222,074
Liabilities$15,720,724
Net Assets$8,501,350
Open 2024 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2017: $64,500Expenses 2017: $17,963Net Income 2017: $46,5372017Revenue 2018: $81,132Expenses 2018: $99,734Net Income 2018: -$18,6022018Revenue 2019: $23,452Expenses 2019: $69,779Net Income 2019: -$46,3272019Revenue 2020: $19,122Expenses 2020: $92,550Net Income 2020: -$73,4282020Revenue 2021: $3,188,944Expenses 2021: $3,240,288Net Income 2021: -$51,3442021Revenue 2022: $1,226,949Expenses 2022: $431,196Net Income 2022: $795,7532022Revenue 2023: $2,679,732Expenses 2023: $935,558Net Income 2023: $1,744,1742023Revenue 2024: $8,593,440Expenses 2024: $2,488,853Net Income 2024: $6,104,5872024

Highlighted filing

2024

Revenue$8,593,440
Expenses$2,488,853
Net Income$6,104,587
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,222,074
Liabilities
$15,720,724
Net assets
$8,501,350
Revenue
$8,593,440
Expenses
$2,488,853
Net income
$6,104,587
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.2$15.7$8.50$8.59$2.49$6.10
2023Detailed filing. Detailed filing data is available for this year.$8.04$5.65$2.40$2.68$0.94$1.74
2022Detailed filing. Detailed filing data is available for this year.$4.49$3.84$0.65$1.23$0.43$0.80
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$1.31$0.14$3.19$3.24$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.29$0.39$0.09$0.02$0.09$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.31$0.33$0.02$0.02$0.07$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.35$0.32$0.03$0.08$0.10$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.06$0.02$0.05
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 18, 2025
Return Version
2023v6.0
Gross Receipts
$8,593,440
Mission and Program Overview

Mission

To facilitate retention and creation of jobs and increase prosperity in the Erie region while building the economic development infrastructure through the acquisition, development and redevelopment of real estate in Erie County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,153,440$15,887,404▲ $10,733,964
Cash and Non-Interest-Bearing Accounts$2,877,489$8,325,670▲ $5,448,181
Accounts Receivable$9,000$9,000→ $0
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$8,043,049$24,222,074▲ $16,179,025
Other Assets Total$3,120$0▼ $3,120
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,954,548$12,514,890▲ $9,560,342
Deferred Revenue$2,478,809$3,024,197▲ $545,388
Accounts Payable and Accrued Expenses$212,929$181,637▼ $31,292
Total Liabilities$5,646,286$15,720,724▲ $10,074,438
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,396,763$8,501,350▲ $6,104,587
Total Net Assets Fund Balance$2,396,763$8,501,350▲ $6,104,587
Total Liabilities and Net Assets / Fund Balance$8,043,049$24,222,074▲ $16,179,025

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,409,054$2,848,639$15,257,693
Land$3,478,350-$3,478,350
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Jacob RouchChairman
Laith WardiVice Chairman
Leah ManinoVice President
Harry EighmyBoard Liaison
Daryl TerellaDirector
Jackie SpryDirector
Jessica Horan-KuncoDirector
Matt ZonnoDirector
Jay Alberstadt EsqCouncil
Kim ThomasNonVotingMember
David TullioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,888,747
Program Service Revenue
$138,500
Investment Income
$192,625
Other Revenue
$373,568
Change in Net Assets
$6,104,587

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,593,440
Total Revenue per Audited Statements
$8,593,440
Total Revenue per Form 990
$8,593,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,488,853
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$2,012,210--$2,012,210
Interest$201,102--$201,102
Insurance$16,896--$16,896
Fees for Services Accounting$9,350--$9,350
Fees for Services Legal$8,156--$8,156
Advertising$2,520--$2,520
Office Expenses$797--$797
Other Expenses$573$157,200-$573
Total Functional Expenses$2,331,653$157,200$0$2,488,853

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,488,853
Total Expenses per Audited Statements$2,488,853
Total Expenses per Form 990$2,488,853
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“The Board of Directors reviews and approves the annual audited financial statements and Form 990 at its regulary scheduled meetings prior to submissions.”

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

“The Board of Directors reviews all agency transactions on a regular basis to determine if a possible conflict of interest has occured.”

Form 990, Part VI, Section C, Line 19

“The Organization makes its governing documents, policies and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Enterprise Development Center of Erie
EIN
25-1524446
Phone
8144800337
Address
1314 Griswold Plaza, Erie, PA 16501

Signing Officer

Name
Jacob Rouch
Title
Chairman
Signed
2025-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacob Rouch
Formed
1988
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Maloney Reed Scarpitti & Company LLP
Address
113 Meadville St, Edinboro, PA 16412
Preparer
Rick L Clayton CPA
Phone
8147343787
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management believes all tax positions taken and elections made would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions or elections has been recorded as of and for the year ended June 30th.”

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IRS990/MissionDesc0To facilitate retention and creation of jobs and increase prosperity in the Erie region while building the economic development infrastructure through the acquisition, development and redevelopment of real estate in Erie County.
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IRS990/OtherExpensesGrp/Desc2Contracted services
IRS990/OtherExpensesGrp/Desc3Other operating
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IRS990/PrincipalOfficerNm0Jacob Rouch
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt0926623
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt015494155
IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/RevenueSubtotalAmt08593440
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management believes all tax positions taken and elections made would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions or elections has been recorded as of and for the year ended June 30th.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board of Directors reviews and approves the annual audited financial statements and Form 990 at its regulary scheduled meetings prior to submissions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board of Directors reviews all agency transactions on a regular basis to determine if a possible conflict of interest has occured.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization makes its governing documents, policies and financial statements available upon request.
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 C, Line 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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