Fay-Penn Economic Development Corporation
Fay-Penn Economic Development Corporation
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About this organization
Mission
To promote economic welfare in Fayette County
About
The corporation was formed in 1991 to assist in the economic revitalization efforts of Fayette County, Pennsylvania. The organization provides comprehensive, second-to-none business development services which include low-interest financing through its revolving loan fund (RLF), business planning, technical assistance, training and counseling to facilitate new business development and entrepreneurialism. Fay-Penn also promotes Fayette County as a place to do business by providing site selection assistance through business park and multi-tenant facilities development strategy. Fay-Penn owns, constructs, and operates numerous readily-available land and building sites throughout the county in an effort to attract tenants and create more jobs. To date, Fay-Penn has completed 391 projects, created and/or retained 10,123 jobs, resulting in $1.35 billion in new investment throughout the county. Fay-Penn has also financed 248 loans, resulting in the creation and/or retention of 340 jobs.
Interesting data from their 2019 990 filing
The filing outlines the non-profit's goal as “To maintain and increase employment opportunities in fayette county, pennsylvania by stimulating all phases of economic development which includes: promoting industrial development and tourism, encouraging the improvement of community facilities and services, providing education and cultural facilities, health services, housing and transportation, supporting comprehensive planning and redevelopment, preserving the environment and natural beauty of the county, and by pursuing other related activities in an effort to improve the quality of life in fayette county.”.
When detailing its duties, they were outlined as: “To promote economic welfare in fayette county”.
- As per legal reporting requirements, the state of operation for the non-profit is PA.
- The non-profit's address for 2019 is listed as 1040 EBERLY WAY SUITE 200, LEMONT FURNACE, PA, 15456 in the filing.
- The non-profit's form for the year 2019 reports a total of 14 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$10,223.
- The organization has 54 independent voting members.
- The organization was formed in 1991.
- The organization pays $1,010,240 in salary, compensation, and benefits to its employees.
- The organization pays $4,083 in fundraising expenses.
Additional Non-Profits in the area
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