Allegheny Conference on Community Development

What it reported doing in 2024

10-county economic development: a strong economy creates pathways to individual prosperity and provides the tax base needed to support robust transportation, quality education, affordable housing, and cultural and infrastructure investments. The allegheny conference drives these outcomes by working directly with companies and other key stakeholders to attract, expand, and retain businesses in the pittsburgh region. In 2024, we drove $361 million in capex. In 2024, we drove $361 million in capex. See schedule o for a sample of the 2024 high-impact projects that represent this growth.- mainspring energy: mainspring energy selected findlay township for its manufacturing facility, representing $175 million in total investment, including $87 million in federal funding. The facility will create 600 permanent jobs and an additional 300 construction jobs. Once operational, it will produce up to 1,000 linear generators annually, the power equivalent to meet the electricity needs of up to a quarter of a million u.s. Homes. Mitsubishi electric power products, inc.: meppi announced a $93 million investment to expand and build an advanced manufacturing facility in the region. This new factory will create 200 jobs and retain over 800 positions. The facility will produce cutting-edge switchgears, enhancing power reliability and supporting the modernization of the electric grid while reducing carbon emissions. - advocating for pro-growth policies: the allegheny conference supports pro-growth legislation, public policy, and regulatory actions to grow the economy by improving competitiveness, creating favorable business conditions, removing policy barriers and securing transformative public sector investment. We work at all levels of government local, state and federal to guide policy and advocacy efforts to increase economic competitiveness, attract and retain jobs, and accelerate growth opportunities regionwide.- state investments: a top barrier to business investment in swpa has been the lack of pad-ready sites. The new $500 million pa sites program, created as part of the 2024-25 state budget, will directly address this challenge by bringing more commercial and industrial sites online, making the region more competitive for new development. - tax competitiveness: Pennsylvania is strengthening its business climate through tax reforms. The corporate net income (cni) tax rate is set to decline from 7.9% in 2025 to 4.99% by 2031 reducing it by half from the original level. The state is also gradually increasing the net operating loss (nol) deduction limit from 40% to 80% by 2029. These changes send a clear signal that Pennsylvania is open for business and investment. - permitting reform: efficient permitting is critical for sustainable growth. The streamlining permits for economic expansion and development (speed) program and pa permit fast track program introduced key reforms, including a secure permit tracking system, third-party reviews for select permits, and defined review timelines to accelerate project approvals.

Financial Efficiency

• Mission deployment rate: 46.1%; rating input score 46
• Program expense ratio: 82.8%; rating input score 83
• Fundraising efficiency: $78.41 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 26.8%; rating input score 27; 9th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 98.2%; rating input score 98; 31st percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 44.9%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 2.54; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 59; 59th percentile among comparable filings
• Officer compensation ratio: 19.2%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 5% per year; rating input score 100; 42nd percentile among comparable filings
• Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
• Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings