Lebanon Valley Economic Development Corporation

Analysis

Lebanon Valley Economic Development Corporation is a registered charity in United States, based in Lebanon, PA. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Lebanon Valley Economic Development Corporation reported income of $1.9m and spending of $394k, leaving 79% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.1m to $1.9m (+81%), an average of +16% a year. The sharpest change came in the year to June 2024, when income rose by 712%. Over the whole period it spent 36% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lebanon Valley Economic Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within PA. Charities of a similar size with the same main cause include Kline Galland Center Foundation ($1.9m), Do-All Incorporated ($1.9m) and Big Sunday ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.7% and program service revenue 9.0% of the total. Compensation of current officers, directors and key employees was $131k (33% of expenses). Other salaries and wages came to $65k. At year end it held assets of $8.0m against liabilities of $22k, net assets of $8.0m. It reported 4 employees.