2023-11-14T11:18:11-06:00 2022-12-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2022-01-01 231352264 PENNSYLVANIA ECONOMY LEAGUE INC PENN 2158751000 901 MARKET STREET 3020 PHILADELPHIA PA 19107 JEFFREY HORNSTEIN PHD EXECUTIVE DIRECTOR 2158751000 2023-11-13 1 JEFFREY HORNSTEIN PHD 999009999 0 SUSAN M KIRSCH P00341397 4122613644 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X JEFFREY HORNSTEIN PHD 901 MARKET STREET 3020 PHILADELPHIA PA 19107 4318756 0 X WWW.ECONOMYLEAGUE.ORG X 1936 PA THE PENNSYLVANIA ECONOMY LEAGUE ("PEL") IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH ENTITY. 10 9 18 109 0 0 2540560 3215815 1509226 1100650 -8300 2291 0 0 4041486 4318756 0 0 0 0 1510566 1694156 0 0 195828 2271489 2209393 3782055 3903549 259431 415207 2641467 2565314 2813814 1919406 -172347 645908 X THE PENNSYLVANIA ECONOMY LEAGUE (PEL) IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH AND DEVELOPMENT ORGANIZATION COMPRISED OF THREE LIMITED LIABILITY COMPANIES: PEL, SOUTHEASTERN PA, LLC, DBA ECONOMY LEAGUE OF GREATER PHILADELPHIA; SEE SCHEDULE O FOR CONTINUATIONTHE PENNSYLVANIA ECONOMY LEAGUE OF SOUTHWESTERN PA, LLC, DBA THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH; AND THE PENNSYLVANIA ECONOMY LEAGUE, CENTRAL PA, LLC. PEL'S MISSION IS TO PROVIDE INDEPENDENT RESEARCH ON EMERGING ISSUES IN ORDER TO STIMULATE PUBLIC AND PRIVATE ACTION AND TO MAKE PENNSYLVANIA A BETTER PLACE TO LIVE, WORK AND DO BUSINESS. ITS PURPOSE IS TO CREATE A KNOWLEDGEABLE CORPORATE AND CIVIC AUDIENCE TO HELP ENSURE THE ECONOMIC COMPETITIVENESS OF THE COMMONWEALTH AND ITS REGIONS. 0 0 1647411 407250 THE ECONOMY LEAGUE OF GREATER PHILADELPHIA FOSTERS EQUITABLE AND INCLUSIVE GROWTH IN GREATER PHILADELPHIA BY PRODUCING IMPACTFUL, NONPARTISAN RESEARCH, CONNECTING DIVERSE LEADERS, AND ADVANCING SHARED SOLUTIONS. THE ELGP IS OUR REGION'S INDEPENDENT THINK-AND-DO TANK, FOUNDED IN 1909 AS THE PHILADELPHIA BUREAU OF MUNICIPAL RESEARCH BY FORWARD-THINKING CIVIC LEADERS, UNITED BY THE BELIEF THAT BUSINESS HAS A CIVIC RESPONSIBILITY BEYOND PROFIT-MAKING, AND THAT IT IS THE CITIZENS BUSINESS TO ENSURE THAT LOCAL GOVERNMENT AND THE LOCAL ECONOMY WORK FOR ALL. SEE SCHEDULE O FOR CONTINUATION 858999 27475 THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP), ALONG WITH OUR AFFILIATED ORGANIZATIONS: ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT (ACCD OR THE CONFERENCE), PITTSBURGH REGIONAL ALLIANCE (PRA) AND GREATER PITTSBURGH CHAMBER OF COMMERCE (GPCC) - AND OUR REGIONAL INVESTOR COUNCIL PARTNERS, TOOK IMPORTANT STEPS TOWARD ACHIEVING THE VITAL, GLOBALLY COMPETITIVE REGION WE ALL WANT.SEE SCHEDULE O FOR CONTINUATION 563546 665925 CENTRAL PA: THE CONTINUING ISSUE OF LOCAL GOVERNMENT FINANCIAL DISTRESS REMAINED THE CENTER OF THE CENTRAL PA LLC'S RESEARCH, CIVIC LEADERSHIP EDUCATION, AND PROJECT AGENDAS DURING 2022. RISING INFLATION AND UNCERTAIN ECONOMIC REALITIES ONLY STRENGTHENED THE NEED TO FOCUS ON LOCAL GOVERNMENT FISCAL DISTRESS. SEE SCHEDULE O FOR CONTINUATION 3069956 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 25 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 PA X JEFFREY HORNSTEIN PHD 2158751000 901 MARKET STREET 3020 PHILADELPHIA PA 19107 JEFF HORNSTEIN EXECUTIVE DIRECTOR 40.00 X X 207302 0 24345 DAVID BLUM DIRECTOR 1.00 X 0 0 0 ELLIOT DINKIN DIRECTOR 1.00 X 0 0 0 KEITH DORMAN DIRECTOR (EXITED 07/22) 1.00 X 0 0 0 PETER GROLLMAN DIRECTOR 1.00 X 0 0 0 STUART G HOFFMAN DIRECTOR 1.00 X 0 0 0 RYAN MCGOWAN DIRECTOR (ENTERED 11/22) 1.00 X 0 0 0 KEVIN SNIDER DIRECTOR 1.00 X 0 0 0 STEVE STETLER DIRECTOR 1.00 X 0 0 0 FRED CALLAHAN TREASURER 1.00 X X 0 0 0 WILLIAM RHODES CHAIR 1.00 X X 0 0 0 JNELLE LAWRENCE DEPUTY EXECUTIVE DIRECTOR 40.00 X 116302 0 24598 323604 0 48943 2 0 1 0 0 368506 2847309 3215815 CENTRAL PROJECT REV 900003 665925 665925 ELGP PROJECT REVENUE 900003 407250 407250 PELGP PROGRAM REVENUE 900003 27475 27475 1100650 2291 2291 4318756 1100650 0 2291 X 231647 111220 37826 82601 1211550 1003777 181493 26280 36289 29183 5888 1218 94071 71991 19419 2661 120599 95536 18395 6668 986 986 163536 41058 121777 701 543618 450750 56653 36215 14546 9311 5198 37 65062 35664 25609 3789 28460 15818 11120 1522 107494 72212 28367 6915 31425 23215 7608 602 64193 11207 49373 3613 9824 2453 2304 5067 28385 19994 6827 1564 SHARED EXPENSES 789569 730219 44637 14713 PROJECT AND EVENT EXP 213199 210541 2658 0 RESEARCH TOOLS 78070 76097 1973 0 BAD DEBT EXPENSE 22162 22162 0 0 48864 37548 9654 1662 3903549 3069956 637765 195828 740819 711322 913562 1085159 893288 559100 4412 75587 51800 39307 257678 240609 23880 17069 2500 2500 11206 75270 2641467 2565314 290187 192773 127173 41776 254042 0 2142412 1684857 2813814 1919406 X -1046875 -497730 874528 1143638 -172347 645908 2641467 2565314 X 415207 403048 X X 0 1 X 1 0 X 1470594 2117818 1621661 2540560 3215815 10966448 1470594 2117818 1621661 2540560 3215815 10966448 1127160 9839288 4068 2401 965 305 2291 10030 10976478 7183435 0.89640 0.98520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 257678 240609 17069 17069 PENSION OBLIGATION 1455419 RELATED PARTY PAYABLES 158402 LEASE LIABILITIES 71036 1684857 X 4729804 8000 403048 411048 4318756 0 4318756 3911549 8000 8000 3903549 0 3903549 PART X, LINE 2: THE CORPORATION FOLLOWS THE PROVISION OF THE CODIFICATION RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR COMBINED FINANCIAL STATEMENT DISCLOSURE OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE CORPORATION'S COMBINED STATEMENTS OF FINANCIAL POSITION AT DECEMBER 31, 2022 AND 2021 DO NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE CORPORATION HAS NO UNRECOGNIZED TAX BENEFITS. THE CORPORATION IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2019 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PENSION OBLIGATION 403,048. X X X 0 0 0 0 0 0 0 1 0 JEFF HORNSTEIN EXECUTIVE DIRECTOR 182302 0 25000 0 0 0 11162 0 13183 0 231647 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR RECEIVED A BONUS OF $25,000 IN CALENDAR YEAR 2022. THE DEPUTY EXECUTIVE DIRECTOR RECEIVED A BONUS OF $7,000 IN CALENDAR YEAR 2022. FORM 990, PART III, LINE 4A: IN 2022 THE ECONOMY LEAGUE CONTINUED TO BUILD ITS 4 DISCRETE PROGRAMMATIC LINES; THE BOARD'S PROGRAM COMMITTEE PROVIDED OVERSIGHT AND GUIDANCE. THESE PROGRAM LINES ARE THE GREATER PHILADELPHIA LEADERSHIP EXCHANGE (GPLEX), FOCUSED ON BUILDING 'CIVIC MUSCLE' VIA A YEAR-LONG SERIES OF PROGRAMS CULMINATING IN AN ANNUAL LEADERSHIP SUMMIT; PHILADELPHIA ANCHORS FOR GROWTH & EQUITY (PAGE), WHICH HARNESSES INSTITUTIONAL PURCHASING POWER TO DRIVE JOBS AND GROWTH AMONG DIVERSE LOCAL BUSINESSES; OUR RESEARCH DEPARTMENT, WHICH PRODUCES INDEPENDENT NONPARTISAN RESEARCH AND ANALYSIS AIMED AT FACILITATING INFORMED DECISION MAKING BY POLICY MAKERS AND ADVOCATES; AND IMPACT LABS, A SOCIAL INNOVATION INCUBATOR AND ACCELERATOR DESIGNED TO IDENTIFY AND SUPPORT EVERYDAY INNOVATORS WITH NOVEL IDEAS FOR TACKLING THE REGION'S MOST PRESSING PROBLEMS. THE GREATER PHILADELPHIA LEADERSHIP EXCHANGE (GPLEX) IS AN INITIATIVE OF THE ECONOMY LEAGUE AIMED AT BUILDING "CIVIC MUSCLE" BY CREATING A CADRE OF WELL-INFORMED AND NETWORKED BUSINESS, CIVIC, NONPROFIT, AND GOVERNMENT LEADERS. THROUGH IN-REGION PROGRAMMING AND OUT-OF-REGION LEARNING VISITS, GPLEX EXPOSES LEADERS TO BEST PRACTICES, FORGES NEW CONNECTIONS ACROSS SECTORS AND INDUSTRIES AND DEEPENS PARTICIPANTS' UNDERSTANDING OF GREATER PHILADELPHIA'S POTENTIAL. FROM SEPT 30-OCT 3, 2022 MORE THAN 160 PHILADELPHIANS CONVENED IN DETROIT FOR OUR MAJOR CONFERENCE. PHILADELPHIA ANCHORS FOR GROWTH & EQUITY (PAGE) IS A PARTNERSHIP BETWEEN THE ECONOMY LEAGUE, THE CITY OF PHILADELPHIA'S COMMERCE DEPARTMENT, AND THE CITY'S MAJOR EDS-AND-MEDS INSTITUTIONS. PAGE ANALYZES THE WAY THESE INSTITUTIONS SPEND THEIR PROCUREMENT DOLLARS AND IS BUILDING INFRASTRUCTURE TO HELP THE INSTITUTIONS SHIFT MORE OF THEIR ROUGHLY $5 BN IN ANNUAL SPEND TO LOCAL DIVERSE BUSINESSES. PAGE HAS GARNERED OVER $1 MILLION IN FINANCIAL SUPPORT FROM THE STAKEHOLDERS THEMSELVES AS WELL AS A VARIETY OF OTHER FOUNDATION AND GOVERNMENTAL FUNDERS. WE HELD A VERY SUCCESSFUL AND WELL-ATTENDED PAGE SUMMIT IN FEBRUARY 2022. SINCE ITS FOUNDING IN 1909, THE ECONOMY LEAGUE HAS BEEN A RESOURCE FOR IMPARTIAL ANALYSIS AND INSIGHT INTO OUR REGION'S ECONOMIC HEALTH. SINCE THE PANDEMIC OUR RESEARCH TEAM HAS PRODUCED CONSISTENT WEEKLY AND BIWEEKLY LEADING INDICATORS DATA BRIEFS THAT HAVE SHED LIGHT ON THE IMPACT OF THE PANDEMIC ON VARIOUS SECTORS OF THE LOCAL ECONOMY, ON THE LOCAL IMPACT OF THE CURRENT HIGH-INFLATION ENVIRONMENT, AND MANY OTHER TOPICS RELEVANT TO POLICYMAKERS, JOURNALISTS, AND CIVIC LEADERS. IN 2022 WE WERE AWARDED A CONTRACT BY THE CITY OF PHILADELPHIA TO STUDY THE LONG-TERM IMPLICATIONS FOR PHILADELPHIA'S MUNICIPAL WORKFORCE OF THE CITY'S DECARBONIZATION STRATEGY. ADDITIONALLY, OUR LEADING INDICATORS SERIES THE COLOR OF INEQUALITY, WON A NATIONAL AWARD FOR DIGITAL DATA VISUALIZATION. IN 2022, ELGP WAS AWARDED $1M TO EXECUTE A SECOND HEALTH EQUITY CHALLENGE, "COMMUNITY SOLUTIONS FOR HEART & MIND HEALTH," WHICH AIMED TO IDENTIFY AND SUPPORT EVERYDAY INNOVATORS WITH PROMISING IDEAS FOR ADDRESSING HEALTH INEQUITIES. THE PROJECT FORMALLY LAUNCHED WITH A STANDING-ROOM-ONLY EVENT AT THE FRANKLING INSTITUTE, AND NEARLY 100 APPLICATIONS WERE SUBMITTED. FORM 990, PART III, LINE 4B: WE IMPLEMENTED AND BEGAN TO SOCIALIZE THE INCLUSIVE GROWTH PRINCIPLES, WHICH FOCUS ON EMPLOYMENT, BUSINESS GROWTH AND COMMUNITY WEALTH, INCLUDING THE LAUNCH OF THE FIRST FIVE OF A SERIES OF INCLUSIVE GROWTH ROUNDTABLES FOR ALLEGHENY CONFERENCE REGIONAL INVESTORS AND PARTNERS. THE ROUNDTABLES WERE USED TO RAISE THE ISSUES OF INCLUSIVE GROWTH WITH 25% OF THE CONFERENCE'S REGIONAL INVESTOR COUNCIL, WHOSE ORGANIZATIONS DIRECTLY PARTICIPATED IN ONE OR MORE OF THE SESSIONS. WE HELPED TO DELIVER $2.5 MILLION OF NEIGHBORHOOD PARTNERSHIP PROGRAM INVESTMENT IN OUR 16 STRENGTHENING COMMUNITIES PARTNERSHIP COMMUNITIES. THIS FUNDING SUPPORTS COMMUNITY DEVELOPMENT FROM JOB CREATION TO MAIN STREET VITALITY AND MORE. WE ADVANCED MINORITY ENTREPRENEURSHIP AND COMMUNITY DEVELOPMENT AS A SPONSORING ENTITY FOR THE BLACK ECONOMIC ADVANCEMENT MOBILITY (BEAM) COLLABORATIVE. BEAM, WHICH IS UP AND RUNNING, IDENTIFIES PROMISING MINORITY-OWNED BUSINESSES WITH THE POTENTIAL TO SCALE, SUPPORTS THEM IN BUILDING CAPACITY AND CONNECTS THEM WITH POTENTIAL CUSTOMERS. BEAM EXPECTS TO OPERATE UNDER ITS OWN 501(C)(3) IN 2023. WE WORKED TO UNLOCK THE REGION'S POTENTIAL BY IMPROVING COMPETITIVENESS, REMOVING POLICY BARRIERS AND SECURING TRANSFORMATIVE PUBLIC SECTOR INVESTMENT: WE BUILT OUT KEY CLUSTERS IN ROBOTICS AND AUTONOMY AND ENERGY TO CREATE JOBS: ROBOTICS AND AUTONOMY: AS PART OF THE SOUTHWESTERN PENNSYLVANIA NEW ECONOMY COLLABORATIVE, WE WERE INSTRUMENTAL IN SOUTHWESTERN PENNSYLVANIA RECEIVING A $62.7M FEDERAL GRANT TO BUILD THE ROBOTICS AND AUTONOMY CLUSTER WITH A FOCUS ON GROWING OPPORTUNITY FOR ALL PEOPLE AND PLACES IN THE 11-COUNTY REGION. THE SOUTHWESTERN PENNSYLVANIA REGION WAS ONE OF ONLY 21 APPLICANTS TO RECEIVE GRANT FUNDING, CHOSEN FROM THE 60 FINALISTS INVOLVED IN PHASE 2 OF THE BUILD BACK BETTER REGIONAL CHALLENGE (BBBRC). THE FEDERAL GRANT, THE FIRST IN THE CONFERENCE'S HISTORY, WAS ONE OF ONLY THREE BBBRC AWARDS FEATURED IN THE BIDEN ADMINISTRATION'S PRESS ANNOUNCEMENT AND WAS RECOGNIZED BY THE BROOKINGS INSTITUTION AS BEING AMONG THE "MOST EQUITABLE" PROPOSALS, TAKING AN ESTABLISHED CLUSTER AND CONNECTING IT TO MORE RURAL REGIONS THAT ARE OFTEN LEFT OUT OF SUCH INITIATIVES. PARTNERS ACROSS LABOR, EDUCATIONAL INSTITUTIONS, WORKFORCE AND ECONOMIC DEVELOPMENT COLLEAGUES, BUSINESSES AND MORE CAME TOGETHER OVER THE COURSE OF A YEAR TO DEVELOP THE REGION'S APPROACH. DURING THE APPLICATION PROCESS, THE COLLABORATIVE CONVENED A COALITION OF MORE THAN 90 PUBLIC AND PRIVATE ORGANIZATIONS ACROSS THE 11-COUNTY FOOTPRINT. WITH THE FUNDING, THE COLLABORATIVE WILL CREATE: A NEW SYSTEM FOR COMPANIES TO UPGRADE SYSTEMS AND ADOPT ROBOTICS TECHNOLOGY; A MANUFACTURING HUB AND A NETWORK FOR REGIONAL MAKERSPACES FOR SMALL AND MEDIUM-SIZED COMPANIES TO TEST NEW TECHNOLOGY SOLUTIONS; A ROBOTICS STARTUP FACTORY; A FELLOWSHIP PROGRAM AND TRAINING PROGRAM FOR TRADITIONALLY UNDERREPRESENTED ENTREPRENEURS; AND AN EDUCATION AND TRAINING SYSTEM FROM APPRENTICESHIP TO CERTIFICATES THROUGH FOUR-YEAR DEGREES. ENERGY: TO FINALIZE AND IMPLEMENT A FRAMEWORK FOR THE PITTSBURGH REGION'S TRANSITION TO A DIVERSE, LOW-CARBON ENERGY FUTURE, WE RELEASED "OUR REGION'S ENERGY FUTURE." THE REPORT WAS DEVELOPED BY A 25-PLUS MEMBER ALLEGHENY CONFERENCE ENERGY TASK FORCE WHOSE MEMBERS REPRESENT SOUTHWESTERN PENNSYLVANIA'S PUBLIC AND PRIVATE SECTORS, AS WELL AS ACADEMIA AND PHILANTHROPY. THE TASK FORCE PROVIDED RESEARCH-GROUNDED INSIGHTS TO SUPPORT A REGIONAL STRATEGY TO ACCELERATE DECARBONIZATION WHILE DRIVING INVESTMENT, EMPLOYMENT AND INCLUSIVE GROWTH. IN ADDITION TO IDENTIFYING SIX DECARBONIZATION "LEVERS" TO ACHIEVE THE LONG-TERM GOAL, THE REPORT LAID THE GROUNDWORK FOR THE FORMATION OF TWO BOARD-LED WORKING GROUPS, ONE FOCUSED ON LOW-CARBON ELECTRICITY, AND THE OTHER ON HYDROGEN AND CARBON CAPTURE TECHNOLOGIES. FOLLOWING ISSUANCE OF THE REPORT, WE CONVENED STAKEHOLDERS TO DEVELOP DETAILED PLANS AND MOVE THEM FORWARD. EARLY OUTREACH INCLUDED A MANUFACTURING SUMMIT CONVENED IN PARTNERSHIP WITH THE TEAM PENNSYLVANIA FOUNDATION. AT THE EVENT, PENNSYLVANIA GOVERNOR TOM WOLF MADE A HISTORIC ANNOUNCEMENT OF PENNSYLVANIA'S INTENT TO LEAD IN THE DEVELOPMENT OF CLEAN HYDROGEN AND ENSURE THAT ENERGY-RELATED FEDERAL FUNDING IS DIRECTED TOWARD PROJECTS IN OUR REGION AND STATE. THIS ANNOUNCEMENT WAS CRITICAL TO ADVANCING THE LONG-TERM ENERGY STRATEGY. IN COLLABORATION WITH THE PENNSYLVANIA ENVIRONMENTAL COUNCIL AND OTHER PARTNERS, WE LAUNCHED THE SOUTHWEST PENNSYLVANIA DECARBONIZATION FORUM TO BRING TOGETHER LEADERS FROM GOVERNMENT, INDUSTRY, ACADEMIA, NONGOVERNMENTAL AND COMMUNITY ORGANIZATIONS TO SEIZE THE OPPORTUNITIES OF A LOW-CARBON ECONOMY WHILE ALSO FINDING SOLUTIONS TO SPECIFIC CHALLENGES ALONG THE WAY. WE FORMED A REGIONAL COALITION REPRESENTING LABOR, ENVIRONMENT, ACADEMIA, WORKFORCE, ENERGY TRANSITION AND ECONOMIC DEVELOPMENT ORGANIZATIONS TO SUPPORT THE REGION'S PURSUIT OF FEDERAL FUNDING OPPORTUNITIES AND DEVELOPMENT OF COMMUNITY BENEFIT PLANS. UNDER THE LEADERSHIP OF CARNEGIE MELLON UNIVERSITY, THE ALLEGHENY CONFERENCE PARTNERED WITH ALLEGHENY COUNTY AND THE CITY OF PITTSBURGH TO CO-CHAIR THE LOCAL HOST COMMITTEE FOR THE GLOBAL CLEAN ENERGY ACTION FORUM ORGANIZED BY THE U.S. DEPARTMENT OF ENERGY, WHICH BROUGHT MORE THAN 6,000 VISITORS FROM 32 COUNTRIES TO PITTSBURGH FOR A GLOBAL CONVERSATION ABOUT THE FUTURE OF ENERGY. IN CHOOSING PITTSBURGH, U.S. ENERGY SECRETARY JENNIFER GRANHOLM NOTED THAT PITTSBURGH IS "A TOWN THAT EXEMPLIFIES HOW A LEGACY OF ENERGY- AND INDUSTRIAL-DEPENDENT ECONOMY CAN BE TRANSFORMED INTO A TECHNOLOGY AND INNOVATION. FORM 990, PART III, LINE 4C: DURING 2022, PEL COMPLETED LANDMARK WORK ON MUNICIPAL MERGERS, A PROCESS THAT TOO OFTEN GOES DOWN IN FAILURE. PEL COMPLETED AND PRESENTED GROUNDBREAKING INDEPENDENT RESEARCH FOR THE PENNSYLVANIA MUNICIPAL LEAGUE ON TAX FLEXIBILITY. AND PEL FOCUSED ON BLIGHT AND HOUSING ISSUES FOR THE SPRING ISSUES FORUM, A TOPIC THAT IS DIFFICULT FOR MANY SMALLER MUNICIPALITIES WITH LOW CAPACITY. THE MUNICIPAL MERGER WORK BEGAN IN 2022 WITH THE CITY OF DUBOIS AND SANDY TOWNSHIP, WHOSE ELECTORATE VOTED IN FAVOR OF COMBINING THE TWO MUNICIPALITIES IN 2021 BASED ON A PEL REPORT RELEASED THAT YEAR. PEL PROVIDED TECHNICAL ASSISTANCE TO THE CITY AND THE TOWNSHIP AS THEY WENT THROUGH THE STEPS OF THE MERGER PROCESS. MEANWHILE, VOTERS IN THE CITY OF HERMITAGE AND THE BOROUGH OF WHEATLAND BACKED MERGER BECAUSE OF PEL'S WORK TO IMPROVE FINANCES SO THAT THE BOROUGH WAS AN ATTRACTIVE MERGER PARTNER. THESE TWO PROJECTS WERE THE FIRST MERGERS INVOLVING THIRD-CLASS PENNSYLVANIA CITIES IN DECADES. THE PML REPORT, "IT'S NOT 1965 ANYMORE: STATE TAX LAWS FAIL TO MEET MUNICIPAL REVENUE NEEDS," FEATURED CASE STUDIES OF EIGHT MUNICIPALITIES, THE CITIES OF ALTOONA, BRADFORD, HERMITAGE, LOCK HAVEN, LANCASTER, AND PITTSTON; INDIANA BOROUGH; AND UPPER CHICHESTER TOWNSHIP. THE REPORT PROVIDED DATA AND ANALYSIS TO DEMONSTRATE THAT THE STATE'S LOCAL GOVERNMENT TAX LAWS HAVE FAILED TO KEEP UP WITH INFLATION AND MODERN LIVING. THE CASE STUDIES PUT A FACE ON THE ISSUE AND DEMONSTRATED HOW IT CREATES REAL PROBLEMS FOR HOW MUNICIPALITIES PROVIDE NEEDED SERVICES. OUR CIVIC EDUCATION CONTINUED WITH THE VIRTUAL EVENT "TACKLING BLIGHT IN PENNSYLVANIA," ATTENDED BY OVER 100 PEOPLE AND AVAILABLE ON YOUTUBE. PEL FEATURED STATE SEN. DAVID ARGALL, WHO HAS WORKED EXTENSIVELY ON STATE BLIGHT LEGISLATION, AND STAFF OF THE HOUSING ALLIANCE OF PA, WHO SHARED REAL WORLD STRATEGIES EMPLOYED BY SMALL MUNICIPALITIES TO REDUCE BLIGHT. REDUCING BLIGHT IS CRITICAL TO ENSURING THE STATE AND ITS COMMUNITIES ARE THRIVING, HEALTHY LOCATIONS FOR BUSINESSES AND INDIVIDUALS. VIRTUAL ISSUES FORUMS HAVE PROVIDED A USEFUL FORMAT TO ATTRACT HIGHER CALIBER SPEAKERS AND MORE PARTICIPANTS. EACH FORUM IS RECORDED AND POSTED ONLINE FOR FUTURE VIEWING. MEANWHILE, OUR WEEKLY EMAIL BLASTS KEPT PEL SUBSCRIBERS UP TO DATE WITH THE WORK OF PEL AND OTHER GOOD GOVERNMENT PUBLIC POLICY TOPICS. THE NEWSLETTER HAS ABOVE-AVERAGE CLICK-THROUGH RATES, A SIGN THAT THE INFORMATION SHARED IS VALUABLE TO THE GROWING LIST OF RECIPIENTS. IN ADDITION TO THESE HIGHLIGHTS, PEL CONTINUED WITH OUR TECHNICAL ASSISTANCE TO MUNICIPALITIES ACROSS THE STATE INCLUDING THE CITIES OF SCRANTON, HAZLETON, AND SHAMOKIN; THE BOROUGHS OF MAHANOY CITY, LINESVILLE, DUNMORE, HANOVER, AND TIMBLIN; JEFFERSON COUNTY; AND COAL TOWNSHIP, AS WELL AS SCHOOL DISTRICT PROJECTS IN HARRISBURG AND WALLINGFORD/SWARTHMORE. SCRANTON SUCCESSFULLY EXITED THE ACT 47 MUNICIPAL DISTRESS PROGRAM WITH PEL'S HELP AFTER DECADES OF FINANCIAL ISSUES. FORM 990, PART VI, SECTION A, LINE 7A THE PEL, INC. BOARD OF DIRECTORS IS COMPRISED OF DIRECTORS APPOINTED BY THE THREE DIVISIONS' BOARDS OF DIRECTORS (I.E., THREE DISREGARDED ENTITIES). EACH DIVISION HAS THE RIGHT TO ELECT THREE (3) DIRECTORS TO SERVE ON PEL, INC.'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B A FINAL COPY OF THE FORM 990 WILL BE MADE AVAILABLE TO EACH BOARD MEMBER PRIOR TO FILING WITH THE IRS. ALTHOUGH NOT REQUIRED, THE BOARD HAS THE OPPORTUNITY TO REVIEW AND/OR COMMENT ON THE FORM 990 BEFORE OR AFTER IT IS FILED AS PART OF ITS BOARD ACTIVITIES. FORM 990, PART VI, SECTION B, LINE 12C (PELGP) ANNUALLY, EACH OFFICER, DIRECTOR AND KEY EMPLOYEE (O,D,KE) OF THE ORGANIZATION MUST COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT AND AFFIRM THAT HE/SHE HAS READ, UNDERSTOOD AND HAS COMPLIED WITH THE POLICY. HE/SHE ALSO AFFIRMS THAT THE FORM HAS BEEN COMPLETED TO THE BEST OF HIS/HER KNOWLEDGE. ALL RESPONSES TO THE DISCLOSURE STATEMENT ARE SUMMARIZED BY THE ACCOUNTING DEPARTMENT, IDENTIFYING TRANSACTIONS BETWEEN THE O,D,KE AND THE ORGANIZATIONS' VENDORS, THE O,D,KE AND THE ORGANIZATIONS AND ITS AFFILIATES, A SUMMARY OF EACH O,D,KE'S POSITIONS ON OTHER BOARDS AND A SUMMARY OF KEY RESPONSES TO THE QUESTIONNAIRE. THE CHIEF EXECUTIVE OFFICER OR HIS/HER DESIGNEE IS RESPONSIBLE FOR REVIEWING THE SUMMARY OF DISCLOSURE STATEMENTS SO THAT HE/SHE IS FAMILIAR WITH AND CAN REPORT POTENTIAL CONFLICTS TO THE BOARD. THE FOLLOWING APPLIES TO ALL LLC'S: IN ADDITION, EACH INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST OR OTHER INTEREST (AND ALL MATERIAL FACTS REGARDING SUCH INTEREST) AT THE TIME THE BOARD IS CONSIDERAING A TRANSACTION THAT MAY INVOLVE A CONFLICT OR THE APPEARANCE OF A CONFLICT. IF DETERMINED A CONFLICT OF INTEREST EXISTS, THE INTERESTED PERSON MUST RECUSE HIMSELF OR HERSELF FROM VOTING. THE BOARD WILL THEN CONSIDER OBTAINING COMPARABLE INFORMATION WITH RESPECT TO THE TRANSACTION OR ARRANGEMENT PRIOR TO VOTING. IF THE GOVERNING BOARD HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT WILL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBERS RESPONSE AND MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. THE MINUTES OF THE BOARD WILL DISCLOSE THE ACTION TAKEN. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION PROCESS FOR TOP OFFICIAL: EXECUTIVE DIRECTOR SALARY IS DETERMINED BY A COMPENSATION COMMITTEE OF THE ELGP MANAGEMENT COMMITTEE, MADE UP OF THE BOARD CHAIR, VICE CHAIR, AND CHAIRS OF ALL STANDING COMMITTEES. THE COMMITTEE DOES AN ANNUAL PERFORMANCE REVIEW AND RECOMMENDS SALARY AND OR PERFORMANCE BONUSES BASED ON REVIEW AND MEETING PLANNED GOALS AND OBJECTIVES. THE COMMITTEE HAS CONDUCTED PEER ORGANIZATION ANALYSIS TO ENSURE SALARIES ARE WITHIN RANGE. OTHER PROFESSIONAL STAFF SALARIES ARE AT THE DISCRETION OF THE EXECUTIVE DIRECTOR, IN CONSULTATION WITH THE BOARD MANAGEMENT COMMITTEE AND AUDIT AND FINANCE COMMITTEE. PART VI, SECTION B, LINE 15B: COMPENSATION PROCESS FOR OTHER OFFICERS OR KEY EMPLOYEES: NO OTHER OFFICERS OR KEY EMPLOYEES WERE COMPENSATED. FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC DISCLOSURE COPY OF THE FORM 990 IS MADE AVAILABLE THROUGH THE ORGANIZATION TO THE GENERAL PUBLIC UPON REQUEST. IT IS PREFERRED THAT THE REQUESTOR NOTIFIES THE ORGANIZATION IN WRITING. IF REQUESTOR AGREES TO REIMBURSE FOR COPY CHARGES, A HARD COPY OF THE PUBLIC DISCLOSURE COPY WILL BE PROVIDED AND MAILED. THE ORGANIZATION ALSO MAKES ITS PUBLIC DISCLOSURE COPY AVAILABLE FOR INSPECTION AT ITS OFFICE LOCATIONS AT NO CHARGE. THE CONFLICT OF INTEREST POLICY AND FINANICAL STATEMENTS ARE NOT MADE READILY AVAILABLE TO THE PUBLIC (VIA THE ORGANIZATIONS WEBSITE), BUT REQUESTS FOR THIS INFORMATION WOULD BE HANDLED ON A CASE BY CASE BASIS. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 450,750. MANAGEMENT AND GENERAL EXPENSES 56,653. FUNDRAISING EXPENSES 36,215. TOTAL EXPENSES 543,618. FORM 990, PART XI, LINE 9: CHANGE IN PENSION OBLIGATION 403,048. FORM 990, PART XII, LINE 2C COMMITTEE OVERSIGHT: THERE WERE NO CHANGES FROM THE PRIOR YEAR. PAGE 1, BOX J: ADDITIONAL WEBSITES OF THE ORGANIZATION: WWW.PELCENTRAL.ORG AND WWW.PELGP.ORG. 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