2024-09-05T23:56:35-05:00 2023-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2023-01-01 236392284 GREATER BERKS DEVELOPMENT FUND GREA 6103766766 606 COURT ST 100 READING PA 19601 DEBRA MILLMAN PRESIDENT 6108987798 2024-09-03 1 0 RUTHANN J WOLL CPA P00647342 6103761595 2024-09-03 2023 2024-08-08 14:25:15Z DEBRA MILLMAN 606 COURT ST 100 READING PA 19601 4415849 0 X WWW.GREATERREADING.ORG X 1947 PA THE GREATER BERKS DEVELOPMENT FUND AIDS AND PROMOTES ECONOMIC AND INDUSTRIAL EXPANSION, AND CONTRIBUTES TO THE ECONOMIC WELL-BEING OF READING AND BERKS COUNTY BY FACILITATING, PROMOTING, AND PARTICIPATING IN AND FINANCING ECONOMIC DEVELOPMENT AND COMMUNITY REVITALIZATION PROJECTS. 18 16 0 16 0 0 640485 205539 2728745 2765638 192698 426952 1019237 12875 4581165 3411004 0 0 0 0 599761 612123 0 0 0 2568528 2680919 3168289 3293042 1412876 117962 36026079 36750712 19621240 19244291 16404839 17506421 X THE GREATER BERKS DEVELOPMENT FUND AIDS AND PROMOTES ECONOMIC AND INDUSTRIAL EXPANSION, AND CONTRIBUTES TO THE ECONOMIC WELL-BEING OF READING AND BERKS COUNTY BY FACILITATING, PROMOTING, AND PARTICIPATING IN, AND FINANCING ECONOMIC DEVELOPMENT AND COMMUNITY REVITALIZATION PROJECTS CONSISTENT WITH THE NEEDS OF THE COMMUNITY, WITH THE INTENTION OF EFFECTUATING POSITIVE CHANGE IN THE ECONOMIC OPPORTUNITIES AVAILABLE TO RESIDENTS AND BUSINESSES BY CREATING JOBS AND INDUCING PRIVATE INVESTMENT. 0 0 2769946 0 2778513 THE FUND GRANTS REAL ESTATE AND MACHINERY & EQUIPMENT-RELATED LOANS AND ASSISTS IN OTHER ECONOMIC AND INDUSTRIAL-TYPE LENDING TO AID AND PROMOTE THE ECONOMIC AND INDUSTRIAL EXPANSION IN READING & BERKS COUNTY. 2769946 0 1 0 0 0 0 0 0 0 1 0 0 0 0 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 0 1 0 0 1 X 5 0 1 0 0 0 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X DEBRA MILLMAN 6108987798 606 COURT STREET SUITE 100 READING PA 19601 DANIEL R LANGDON CHAIRMAN OF THE BOARD 1.00 0.00 X X 0 0 0 ERNEST J CHOQUETTE ESQ VICE CHAIRMAN 1.00 0.00 X X 0 0 0 DEBRA L MILLMAN PRESIDENT 40.00 0.00 X X 0 162334 25070 MICHAEL A DUFF SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL VIND TREASURER 1.00 0.00 X X 0 0 0 JAMEY MAACK BOARD MEMBER 1.00 0.00 X 0 0 0 JOSEPH N BUTTO BOARD MEMBER 1.00 0.00 X 0 0 0 SCOTT HAUSEMAN BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN D LOONEY BOARD MEMBER 1.00 0.00 X 0 0 0 RICHARD L BASHORE BOARD MEMBER 1.00 0.00 X 0 0 0 TIMOTHY D ROMIG BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID C ROLAND BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTINA L WEEBER BOARD MEMBER 1.00 0.00 X 0 0 0 JOSEPH J SIGLE BOARD MEMBER 1.00 0.00 X 0 0 0 JEFFERY R RUSH BOARD MEMBER 1.00 0.00 X 0 0 0 GINGER KUNKEL BOARD MEMBER 1.00 0.00 X 0 0 0 JAMES GERLACH CEO 5.00 35.00 X X 0 304341 18260 CHARLES F BARBERA MD BOARD MEMBER 1.00 0.00 X 0 0 0 SARA STEWART ASST TREASURER 12.00 28.00 X 0 160422 16454 0 627097 59784 0 0 1 0 PARCON CLEANING 1868 WEAVERTOWN ROAD DOUGLASSVILLE PA 19518 PROVIDES CLEANING SERVICES 208873 1 34802 170737 205539 GATEWAY BLDG OPERATIONS 531120 2509558 2509558 COURT STREET OPERATIONS 531120 256080 256080 2765638 587044 587044 710653 134100 1004845 0 -294192 134100 -160092 -160092 ADMINISTRATIVE FEES 525990 12875 12875 12875 3411004 2778513 0 426952 336262 169252 167010 203063 109417 93646 18297 9664 8633 7674 7674 46827 23736 23091 88772 88772 3141 3141 31750 31750 38680 38680 1717 1717 3292 3292 46757 46757 162017 162017 GATEWAY BUILDING OPERAT 1835702 1835702 606 COURT ST BUILDING O 342958 342958 BERN LAND DEVELOPMENT O 117200 117200 DEVELOPMENT 8903 8903 30 30 3293042 2769946 523096 0 1563959 523060 140888 148822 384361 0 7066187 6364190 75390 73080 33653739 16417792 15793644 17235947 9449071 10460467 182311 710173 1370268 1234973 36026079 36750712 268917 450090 3665273 3362982 14869611 14662892 817439 768327 19621240 19244291 X 16404839 17506421 16404839 17506421 36026079 36750712 X 117962 1196075 -212455 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3184365 3184365 28198850 16374247 11824603 43545 43545 0 2226979 2226979 17235947 X 1553197 1196075 -132148 1063927 489270 38680 2883054 2921734 3411004 958502 0 958502 38680 2295860 2334540 3293042 PART X, LINE 2: AS A NOT-FOR-PROFIT ORGANIZATION, THE FUND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THEREFORE, THE FUND HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FUND IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE FUND RECOGNIZES PENALTIES AND INTEREST ACCRUED RELATED TO INCOME TAX LIABILITIES IN THE PROVISION (BENEFIT) FOR INCOME TAXES IN ITS STATEMENT OF ACTIVITIES. AT DECEMBER 31, 2023 AND 2022, THERE WAS NO ACCRUAL FOR THE PAYMENT OF PENALTIES AND INTEREST. WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION, ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. THE FUND FILES INFORMATIONAL RETURNS (IRS FORM 990) IN THE U.S. FEDERAL JURISDICTION. THE FUND'S TAX RETURNS ARE NOT SUBJECT TO EXAMINATION THROUGH THE YEAR ENDED DECEMBER 31, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN NET INCOME OF AFFILIATE -53,564. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -78,584. PART XI, LINE 4B - OTHER ADJUSTMENTS: BERN LAND DEVELOPMENT OPERATIONS 117,200. 606 COURT STREET OPERATIONS 342,958. GATEWAY BUILDING OPERATIONS 1,835,702. DEPRECIATION ADJUSTMENT 587,194. PART XII, LINE 4B - OTHER ADJUSTMENTS: BERN PROPERTY OPERATIONS 117,200. 606 COURT STREET OPERATIONS 342,958. GATEWAY BUILDING OPERATIONS 1,835,702. X X X 0 0 0 0 0 0 0 0 0 JAMES GERLACH CEO 0 304341 0 0 0 0 0 18260 0 0 0 322601 0 0 DEBRA L MILLMAN PRESIDENT 0 162334 0 0 0 0 0 9740 0 15330 0 187404 0 0 SARA STEWART ASST TREASURER 0 160422 0 0 0 0 0 9625 0 6829 0 176876 0 0 FORM 990, PART V, LINE 1C THE ORGANIZATION DID NOT HAVE ANY INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED; HOWEVER, IF THE SITUATION WOULD ARISE, THE ORGANIZATION IS AWARE OF THE REPORTING REQUIREMENTS AND WOULD HANDLE THAT ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS SENT ELECTRONICALLY TO THE BOARD FOR APPROVAL FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY. ACTUAL CONFLICTS ARE REVIEWED BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: BOOK DEPRECIATION GREATER THAN TAX DEPRECIATION -587,194. EQUITY IN NET INCOME OF AFFILIATE -53,564. ADJUSTMENT FOR ADOPTION OF ASC 326 506,887. CHANGE IN FAIR VALUE OF INTEREST RATE -78,584. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART IX, LINE 24A GATEWAY BUILDING OPERATIONS: INTEREST 299,453 UTILITIES 166,873 REPAIRS & MAINTENANCE 439,105 ADMINISTRATIVE 48,462 TAXES AND INSURANCE 215,542 MANAGEMENT FEE 24,004 DEPRECIATION 627,177 AMORTIZATION 6,388 PROFESSIONAL FEES 8,698 ------------------- TOTAL GATEWAY BUILDING OPERATIONS 1,835,702 FORM 990, PART IX, LINE 24C 606 COURT STREET BUILDING OPERATIONS: UTILITIES 63,470 REPAIRS & MAINTENANCE 116,211 ADMINISTRATIVE 32,436 TAXES AND INSURANCE 34,200 MANAGEMENT FEE 9,456 DEPRECIATION 35,000 AMORTIZATION 2,218 INTEREST 48,802 PROFESSIONAL FEES 390 DEVELOPMENT EXPNESE 775 -------------- TOTAL 606 COURT STREET BUILDING OPERATIONS 342,958 FORM 990, PART IX, LINE 24E BERN LAND DEVELOPMENT OPERATIONS: TAXES AND INSURANCE 62,049 INTEREST 48,701 AMORTIZATION 6,450 ------------- TOTAL BERN LAND DEVELOPMENT OPERATIONS 117,200 GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION 606 COURT STREET SUITE 100 READING PA 19601 814279395 FOSTER ECONOMIC DEVELOPMENT AND GROWTH PA 501(C)(3) LINE 7 0 GREATER READING CHAMBER OF COMMERCE AND INDUSTRY 606 COURT STREET SUITE 100 READING PA 19601 231003440 CHAMBER OF COMMERCE PA 501(C)(6) 0 BERKS COUNTY CHAMBER FOUNDATION 606 COURT STREET SUITE 100 READING PA 19601 222661138 ADVANCEMENT PA 501(C)(3) LINE 7 0 1 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION A 119323 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION J 119323 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION M 91083 FMV GREATER READING CHAMBER AND ECONOMIC DEVELOPMENT CORPORATION O 690712 FMV