Greater Reading Economic

“The organization approved a merger effective 3/31/2019 with a related party.”

“All members have the right to elect the members of the board of directors.”

“All persons and entities desiring membership shall have demonstrated an interest in fostering and promoting economic development in berks county, shall have been approved for membership by a majority vote of the executive committee of greater reading economic partnership, and shall have made the minimum annual contribution for membership to the organization for the current membership fiscal year. In addition, entities shall have appointed a named individual as its representative to greater reading economic partnership. There shall be at least a regular annual meeting of the members as the terms of members of the board of directors of greater reading economic partnership expire, the members shall, inter alia, elect the directors of greater reading economic partnership at the annual members meeting. Members, as such, shall not receive any compensation for their services.”

“The executive committee treasurer completes a detailed review of the 990 and then presents the finalized document to the executive committee for their approval.”

“The organization monitors and enforces its conflict of interest policy via audits and monitoring by the executive committee and board of directors.”

“Governing documents are available to the public upon request.”

“Management fees: telephone: program service expenses 0. Management and general expenses 7,004. Fundraising expenses 0. Total expenses 7,004. Management fees: insurance: program service expenses 0. Management and general expenses 11,119. Fundraising expenses 0. Total expenses 11,119. Management fees: professional fees: program service expenses 0. Management and general expenses 51,982. Fundraising expenses 0. Total expenses 51,982. Management fees: marketing and promotion: program service expenses 51,244. Management and general expenses 0. Fundraising expenses 0. Total expenses 51,244. Management fees: other: program service expenses 0. Management and general expenses 13,661. Fundraising expenses 0. Total expenses 13,661. Management fees: rent: program service expenses 22,329. Management and general expenses 11,097. Fundraising expenses 0. Total expenses 33,426. Management fees: parking: program service expenses 0. Management and general expenses 4,932. Fundraising expenses 0. Total expenses 4,932. Management fees: capital and moving: program service expenses 0. Management and general expenses 35,002. Fundraising expenses 0. Total expenses 35,002.”

“Book / tax depreciation 298. Adj for investment in grcedc -596.”

“The process has not changed from prior years.”