LVEDC Financial Statements
LVEDC income sources include:
- Public and Private Membership – Dues are the largest and most consistent source of income for the LVEDC
- Project Grants – LVEDC receives grants from various regional, state and federal sources. Grant funds are most often earmarked for specific purposes as defined by the grantees during the application process
- Convention & Visitors Bureau Contract (HT) – The Lehigh Valley Convention and Visitors Bureau (LVCVB) receives 78.5 percent of the 3.5 percent hotel tax from Lehigh andNorthampton Counties; LVCVB then provides 36.4 percent to LVEDC under contract for assistance in business attraction and retention[1]
- Service fees – Associated with administering LVEDC programs and processing grants and applications
- Event Sponsorships – LVEDC seeks sponsorships from its membership to fund various events and programs
LVEDC prepares an annual Federal Tax Form 990 and audited financials. These reports, along with its annual report, are filed annually, presented to its membership, and posted on its Web site (www.lehighvalley.org).
LVEDC arranges for independent annual audits of its own operations, as well as LCIDA, NCIDC, LCIDC, NCNJC and LEAP. In addition, individual audits are required for the various grant sources.
Annual Reports
Audited Financial Statements
Federal Tax Returns