2024-11-15T13:27:12-06:00 2023-12-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2023-01-01 231352264 PENNSYLVANIA ECONOMY LEAGUE INC PENN 2672093974 901 MARKET STREET 3020 PHILADELPHIA PA 19107 JEFFREY HORNSTEIN PHD EXECUTIVE DIRECTOR 2672093974 2024-11-15 1 0 SARAH R PIOT P01358891 4122613644 2023 2024-10-15 13:58:12Z JEFFREY HORNSTEIN PHD 901 MARKET STREET 3020 PHILADELPHIA PA 19107 3740996 0 X WWW.ECONOMYLEAGUE.ORG X 1936 PA THE PENNSYLVANIA ECONOMY LEAGUE ("PEL") IS AN INDEPENDENT NON-PROFIT PUBLIC POLICY RESEARCH ENTITY. 9 8 15 9 0 0 3215815 2813702 1100650 906261 2291 10979 0 0 4318756 3730942 0 0 0 0 1694156 2750063 0 0 229011 2209393 1663763 3903549 4413826 415207 -682884 2565314 2159381 1919406 2521098 645908 -361717 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 1498807 520587 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 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 1145584 18000 THE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH (PELGP), ALONG WITH OUR AFFILIATED ORGANIZATIONS ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT (ACCD), PITTSBURGH REGIONAL ALLIANCE (PRA) AND GREATER PITTSBURGH CHAMBER OF COMMERCE (GPCC) - AND OUR REGIONAL INVESTOR COUNCIL PARTNERS, TOOK IMPORTANT STEPS TOWARD ACHIEVING THE GLOBALLY COMPETITIVE REGION WE STRIVE FOR.SEE SCHEDULE O FOR CONTINUATIONPELGP HAS FOCUSED ITS EFFORTS ON STRENGTHENING ITS THOUGHT LEADERSHIP COMMITTEE TO STEP UP ITS EXPERTISE AND INFLUENCE ON STRATEGIC ECONOMIC DEVELOPMENT ISSUES. AS PART OF THEIR COMMITMENT TO LEADING THE DEVELOPMENT OF POLICY SOLUTIONS AND ENGAGING CRITICAL STAKEHOLDERS TO DRIVE POLICY AND PROGRAMMATIC CHANGES ACROSS INTEREST AREAS, THE COMMITTEE HAS SUCCESSFULLY HOSTED SEVERAL ENTREPRENEURIAL SUMMITS, EXPANDED PARTNERSHIPS WITH UNIVERSITIES AND SMALL BUSINESSES, AND ADVANCED SUPPORT FOR CRITICAL LEGISLATION THAT REINFORCES ACCD'S DEDICATION TO DRIVING SUSTAINABLE ECONOMIC GROWTH. A CROSS-DEPARTMENTAL TEAM, GUIDED BY THE THOUGHT LEADERSHIP COMMITTEE, HAS DEVELOPED A COMPREHENSIVE WORK PLAN ALIGNED WITH THREE PRIMARY GOALS: WORKFORCE AND TALENT, INCLUSIVE ECONOMIES, AND CLUSTER STRATEGY AND BUSINESS GROWTH. THE THOUGHT LEADERSHIP TEAM HAS CONTINUED TO PRODUCE REGULAR REPORTS AND ANALYSIS ON THE STATE OF THE REGION'S ECONOMY AND HAS BEGUN DEVELOPING AND PRODUCING NEW REPORTS THAT BRING GREATER INSIGHT INTO SOCIO-ECONOMIC TRENDS AND POLICY ISSUES.IN ADDITION TO THESE ACCOMPLISHMENTS, THE THOUGHT LEADERSHIP COMMITTEE ALSO MANAGES THE REGIONAL GROWTH AND COMPETITIVENESS SUBCOMMITTEE, WHICH IS MADE UP OF REGIONAL BUSINESS LEADERS FROM THE REGIONAL INVESTOR COUNCIL. THE SUBCOMMITTEE CONVENES ONCE PER QUARTER FOR A ROUNDTABLE DISCUSSION OF CURRENT BUSINESS CONDITIONS, ECONOMIC TRENDS, AND GROWTH EXPECTATIONS WHICH HELP TO INFORM THOUGHT LEADERSHIP'S STRATEGIC GOALS AND RESEARCH PRIORITIES. 297896 367674 2023 MARKED A YEAR OF TRANSITION AND CONTINUED IMPACT FOR THE PENNSYLVANIA ECONOMY LEAGUE, CENTRAL PA, LLC.LEADERSHIP CHANGES INCLUDED THE RESIGNATION OF CEO LEEANNE CLAYBERGER ON APRIL 30, 2023, FOLLOWED BY LYNNE SHEDLOCK SERVING AS ACTING EXECUTIVE DIRECTOR FROM MAY 1 TO NOVEMBER 30. VINNY CANNIZZARO WAS APPOINTED EXECUTIVE DIRECTOR ON DECEMBER 1, 2023.SEE SCHEDULE O FOR CONTINUATION 2942287 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 14 0 1 15 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 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 2672093974 901 MARKET STREET 3020 PHILADELPHIA PA 19107 JEFF HORNSTEIN EXECUTIVE DIRECTOR 40.00 X X 180255 0 23732 DAVID BLUM DIRECTOR 1.00 X 0 0 0 ELLIOT DINKIN DIRECTOR 1.00 X 0 0 0 PETER GROLLMAN DIRECTOR (EXITED 12/23) 1.00 X 0 0 0 STUART G HOFFMAN DIRECTOR 1.00 X 0 0 0 RYAN MCGOWAN DIRECTOR 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 117445 0 5073 297700 0 28805 2 0 1 0 0 108759 2704943 2813702 ELGP PROJECT REVENUE 900003 520587 520587 CENTRAL PROJECT REV 900003 367674 367674 PELGP PROGRAM REVENUE 900003 18000 18000 906261 21033 21033 10054 -10054 -10054 -10054 3730942 896207 0 21033 X 203988 136019 57382 10587 2315055 1543679 651225 120151 50248 33505 14135 2608 80790 53871 22726 4193 99982 66668 28125 5189 2605 1737 733 135 229367 152942 64521 11904 527521 351751 148392 27378 44095 29402 12404 2289 58526 39025 16463 3038 37070 24718 10428 1924 85869 57257 24155 4457 40547 27037 11406 2104 96323 64228 27096 4999 9034 6024 2541 469 17020 11349 4788 883 29233 19493 8223 1517 PROJECT AND EVENT EXP 310981 207362 87479 16140 RESEARCH TOOLS 93732 62500 26367 4865 PROFESSIONAL DUES AND M 37984 25328 10685 1971 BAD DEBT EXPENSE 26285 17527 7394 1364 17571 10865 5860 846 4413826 2942287 1242528 229011 711322 384663 1085159 922391 559100 553704 75587 161079 39307 27710 20067 18289 17069 1778 2500 2500 0 54533 75270 51023 2565314 2159381 192773 344130 41776 250000 1684857 1926968 1919406 2521098 X -497730 -922098 1143638 560381 645908 -361717 2565314 2159381 X -682884 -324741 X X 0 1 X 1 0 X 2117818 1621661 2540560 3215815 2813702 12309556 2117818 1621661 2540560 3215815 2813702 12309556 1192826 11116730 2401 965 305 2291 21033 26995 12336551 5987482 0.90110 0.89640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20067 18289 1778 1778 PENSION OBLIGATION 1659723 RELATED PARTY PAYABLES 219298 LEASE LIABILITIES 47947 1926968 X 3739372 8430 8430 3730942 0 3730942 4422256 8430 8430 4413826 0 4413826 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, 2023 AND 2022 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 2020. X X X 0 0 0 0 0 0 0 0 0 JEFF HORNSTEIN EXECUTIVE DIRECTOR 180255 0 0 0 0 0 9921 0 13811 0 203987 0 0 0 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 OCT-OCT 1, 2023 MORE THAN 170 PHILADELPHIANS CONVENED IN NEW ORLEANS FOR OUR MAJOR ANNUAL 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 THE TD CHARITABLE FOUNDATION, THE AMERISOURCE BERGEN FOUNDATION, THE BARRA FOUNDATION, THE LENFEST FOUNDATION, THE BANK OF AMERICA FOUNDATION, THE FEDERAL ECONOMIC DEVELOPMENT AGENCY, THE WILLIAM PENN FOUNDATION, AND JP MORGAN CHASE. WE HELD A VERY SUCCESSFUL AND WELL-ATTENDED PAGE SUMMIT IN FEBRUARY AND A REAL ESTATE & CONSTRUCTION SUMMIT IN AUGUST 2023. 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 2023 OUR IMPACT LABS PROGRAM EXECUTED WELL CITY CHALLENGE 2.0: COMMUNITY SOLUTIONS FOR HEART & MIND HEALTH, AN INNOVATION COMPETITION THAT AIMED TO IDENTIFY AND SUPPORT EVERYDAY INNOVATORS WITH PROMISING IDEAS FOR ADDRESSING HEALTH INEQUITIES. AFTER A 3-MONTH ACCELERATOR AND A PITCH COMPETITION, IN SEPTEMBER 2023 WE AWARDED A $50,000 PRIZE TO A BLACK MALE-FOCUSED SOCIAL SELFCARE PLATFORM CALLED THAT COULD BE ME. FORM 990, PART III, LINE 4C: FOCUS ON LOCAL GOVERNMENT FINANCIAL DISTRESS: THROUGHOUT 2023, THE PERSISTENT ISSUE OF LOCAL GOVERNMENT FINANCIAL DISTRESS REMAINED AT THE HEART OF PEL'S RESEARCH, CIVIC EDUCATION, AND PROJECT AGENDA. ONGOING ECONOMIC CHALLENGES AND GLOBAL UNCERTAINTIES REINFORCED THE NEED FOR ROBUST STRATEGIES TO ADDRESS THIS CRISIS. PEL CONTINUED PROVIDING MUNICIPALITIES ACROSS THE COMMONWEALTH WITH TECHNICAL ASSISTANCE, BUILDING ON ITS ESTABLISHED EXPERTISE. HOME RULE CHARTER PROJECTS: SIGNIFICANT STRIDES WERE MADE IN SUPPORTING GOVERNMENT STUDY COMMISSIONS, WITH THE PURPOSE OF ADOPTING HOME RULE CHARTERS: - BOROUGH OF WILKINSBURG: AFTER RESIDENTS VOTED TO ESTABLISH A GOVERNMENT STUDY COMMISSION IN NOVEMBER 2022, PEL WAS RETAINED AS A CONSULTANT IN MAY 2023. BY AUGUST, THE COMMISSION UNANIMOUSLY VOTED TO DRAFT A HOME RULE CHARTER. - CITY OF LANCASTER: FOLLOWING A MAY 2023 VOTE TO FORM A GOVERNMENT STUDY COMMISSION, PEL WAS HIRED IN JUNE. WORK CONTINUED INTO 2024 AS THE COMMISSION EXPLORED POTENTIAL REFORMS. THESE PROJECTS SIGNIFY A SHIFT IN PEL'S TECHNICAL ASSISTANCE WORK, MOVING FROM MERELY ASSESSING ECONOMIC LANDSCAPES TO RECOMMENDING STRUCTURAL CHANGES IN PUBLIC ADMINISTRATION FOR LONG-TERM MUNICIPAL SUSTAINABILITY. ADDITIONAL TECHNICAL ASSISTANCE: BEYOND THE HOME RULE PROJECTS, PEL'S TECHNICAL SUPPORT EXTENDED TO A RANGE OF OTHER INITIATIVES: - A COLLABORATION WITH ECKERT SEAMANS FOR AN ASSESSMENT OF HANNOVER AREA FIRE AND RESCUE, FINALIZED IN AUGUST 2023, EVALUATING FINANCIAL SUSTAINABILITY AND ADMINISTRATIVE OPERATIONS FOR THE REGIONAL FIRE DEPARTMENT OF HANOVER BOROUGH AND PENN TOWNSHIP. AS ONE OF THE FEW PAID BOROUGH AND TOWNSHIP FIRE DEPARTMENTS IN PENNSYLVANIA, PEL'S ASSESSMENT PROVIDED SUPPORT OF PREVIOUS RECOMMENDATIONS FROM THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT (DCED), AND RECOMMENDED BEST PRACTICES FOR FUTURE SUSTAINABILITY AND SUCCESS. - POST-ACT 47 ASSISTANCE FOR THE CITY OF SCRANTON, ACT-47 SUPPORT FOR THE CITY OF SHAMOKIN, AND SUPPORT IN EXITING ACT 47 FOR THE CITY OF HAZLETON AND THE BOROUGH OF MAHANOY CITY. - STRATEGIC MANAGEMENT PLANNING PROGRAM SUPPORT FOR THE MUNICIPALITIES OF JEFFERSON COUNTY, AND THE BOROUGHS OF DUNMORE, COUDERSPORT, LUZERNE, AND CATASAUQUA. - A FINANCIAL HEALTH ASSESSMENT, A NEW DCED INITIATIVE, FOR THE BOROUGH OF STARRUCCA. CIVIC EDUCATION AND POLICY ENGAGEMENT: IN 2023, PEL REINVIGORATED ITS CIVIC EDUCATION EFFORTS POST-COVID-19. REGIONAL COMMITTEES WERE RELAUNCHED IN WILLIAMSPORT AND CONTINUED IN YORK, READING (BERK COUNTY), AND SCRANTON/WILKES-BARRE (NEPA). PEL ALSO HOSTED A VIRTUAL ISSUES FORUM CENTERED ON ITS REPORT, IT'S NOT 1965 ANYMORE, FEATURING LANCASTER MAYOR DANENE SORACE, BRADFORD CITY MANAGER CHRIS LUCCO, AND PENNSYLVANIA MUNICIPAL LEAGUE EXECUTIVE DIRECTOR JOHN BRENNER. ON THE POLICY FRONT, PEL REMAINED ACTIVELY ENGAGED IN STATE-LEVEL DISCUSSIONS: - COLLABORATING WITH DCED AND LOCAL OFFICIALS TO PRESENT AT THE LOCAL GOVERNMENT SYMPOSIUM ON THE WHEATLAND-HERMITAGE THIRD-CLASS CITY MERGER. - PROVIDING TESTIMONY ON SCHOOL DISTRICT MERGERS BEFORE THE BASIC EDUCATION FUNDING COMMISSION. - CONSULTING WITH DCED AND LOCAL GOVERNMENT COMMISSION OFFICIALS ON LEGISLATIVE STRATEGIES TO FACILITATE MUNICIPAL MERGERS, DRAWING FROM PEL'S EXPERIENCE WITH THE DUBOIS-SANDY TOWNSHIP MERGER. OUTREACH AND COMMUNICATION: PEL'S WEEKLY NEWSLETTERS KEPT SUBSCRIBERS INFORMED ABOUT KEY PROJECTS AND PUBLIC POLICY TOPICS. THE GROWING SUBSCRIBER BASE AND ABOVE-AVERAGE CLICK-THROUGH RATES REFLECT THE HIGH VALUE OF THE CONTENT SHARED. 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 292,737. MANAGEMENT AND GENERAL EXPENSES 123,496. FUNDRAISING EXPENSES 22,785. TOTAL EXPENSES 439,018. DEVELOPMENT: PROGRAM SERVICE EXPENSES 59,014. MANAGEMENT AND GENERAL EXPENSES 24,896. FUNDRAISING EXPENSES 4,593. TOTAL EXPENSES 88,503. FORM 990, PART XI, LINE 9: CHANGE IN PENSION OBLIGATION -324,741. 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. PENNSYLVANIA ECONOMY LEAGUE OF CENTRAL PENNSYLVANIA LLC 88 N FRANKLIN STREET SUITE 200 WILKESBARRE PA 18701 231352264 RESEARCH PA 361662 283778 PENNSYLVANIA ECONOMY LEAGUE INC PENNSYLVANIA ECONOMY LEAGUE SOUTHEASTERN PA LLC 901 MARKET STREET SUITE 3020 PHILADELPHIA PA 19107 231352264 RESEARCH PA 1768984 795771 PENNSYLVANIA ECONOMY LEAGUE INC PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH 11 STANWIX STREET 17TH FLOOR PITTSBURGH PA 15222 231352264 RESEARCH PA 1558750 870232 PENNSYLVANIA ECONOMY LEAGUE INC