South Eastern Economic Development Company of Pennsylvania

Nonprofit profile at a glance

EIN
222490679
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Exton, PA, USA
Phone
6104585700
Rating confidence
Limited

Official website

Reported finances

Revenue
$2,087,434
Expenses
$1,749,656
Assets
$4,343,347
Liabilities
$988,818

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • GARY SMITH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • GARY SMITH (EXECUTIVE DIRECTOR): $236,855 total reported compensation
  • MICHAEL GRIGALONIS (COO/ASSISTANT DIRECTOR): $215,503 total reported compensation
  • SHERWOOD ROBBINS (MANAGING DIRECTOR): $186,990 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Foster the industrial and commercial growth of southeastern Pennsylvania by providing financing available through the u.s. Small business administration loan programs to new, expanded and rehabilitated industrial and commercial projects.

What it reported doing in 2024

Administration and processing of sba 504 loan programs and assistance to small businesses in southeastern pa. In addition the organization processes and services sba 7a loans for banks as a lender service provider.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 68
  • Accountability: 86
  • Sustainability: 64
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.2%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 2.48; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.5% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -30.3% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 13 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $237K · 27 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.