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Nonprofiteer
← GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION.

Totals

Total revenue
$3,383,567
Total expenses
$2,676,199
Contributions and grants received
$2,607,662
Grants paid
$1,890,297
Program service revenue
$848,888
Investment income
-$74,355
Other revenue
$1,372
Total assets, end of year
$18,680,179
Total liabilities, end of year
$7,936,712
Net assets or fund balances, end of year
$10,743,467
Program services expenses (Part IX)
$2,676,199
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,676,199

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,464,662

  • 1f · All other contributions, gifts and grants

    $143,000

  • 2a · Program service revenue: LEASE REVENUE

    total $560,296 · related or exempt $560,296

  • 2b · Program service revenue: LEASE INTEREST INCOME

    total $123,346 · related or exempt $123,346

  • 2c · Program service revenue: RENT

    total $120,729 · related or exempt $120,729

  • 2d · Program service revenue: MISCELLANEOUS FEES

    total $24,114 · related or exempt $24,114

  • 2e · Program service revenue: LOAN INTEREST INCOME

    total $20,403 · related or exempt $20,403

  • 3 · Investment income

    total $4,549 · excluded $4,549

  • 7a · Gross sales of assets other than inventory

    other assets $295,229

  • 7b · Less cost or other basis and sales expenses

    other assets $374,133

  • 7c · Gain or loss

    other assets -$78,904

  • 7d · Net gain or loss

    total -$78,904 · related or exempt -$78,904

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $1,372 · related or exempt $1,372

  • 11e · Other revenue, total

    $1,372

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,890,297 · program services $1,890,297

  • 11a · Fees: management

    total $85,192 · program services $85,192

  • 11g · Fees: other

    total $177,423 · program services $177,423

  • 16 · Occupancy

    total $19,911 · program services $19,911

  • 20 · Interest

    total $160,118 · program services $160,118

  • 22 · Depreciation, depletion and amortization

    total $195,104 · program services $195,104

  • 23 · Insurance

    total $32,052 · program services $32,052

  • 24a · Other expenses: SITE MAINTENANCE

    total $85,710 · program services $85,710

  • 24b · Other expenses: SPECIAL DISTRICT FEES

    total $13,262 · program services $13,262

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $10,875 · program services $10,875

  • 24d · Other expenses: SITE DEVELOPMENT

    total $4,836 · program services $4,836

  • 24e · All other expenses

    total $1,419 · program services $1,419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,092 · end of year $2,780

  • 2 · Savings and temporary cash investments

    beginning of year $5,001,236 · end of year $5,538,402

  • 3 · Pledges and grants receivable

    beginning of year $34,980 · end of year $34,325

  • 4 · Accounts receivable

    beginning of year $8,074 · end of year $9,043

  • 5 · Loans and receivables from officers and key people

    beginning of year $106,311 · end of year $90,308

  • 7 · Other notes and loans receivable

    beginning of year $939,976 · end of year $4,578,713

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,439 · end of year $4,088

  • 10a · Land, buildings and equipment: cost or other basis

    $7,248,719

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,348,163

  • 10c · Land, buildings and equipment, net

    beginning of year $5,095,660 · end of year $4,900,556

  • 15 · Other assets

    beginning of year $3,896,097 · end of year $3,521,964

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,279 · end of year $45,963

  • 19 · Deferred revenue

    beginning of year $56,571 · end of year $40,934

  • 21 · Escrow or custodial account liability

    beginning of year $109,944 · end of year $109,944

  • 23 · Secured mortgages and notes payable

    beginning of year $4,922,972 · end of year $4,683,272

  • 25 · Other liabilities

    beginning of year $0 · end of year $3,056,599

  • 27 · Net assets without donor restrictions

    beginning of year $9,387,751 · end of year $9,956,904

  • 28 · Net assets with donor restrictions

    beginning of year $648,348 · end of year $786,563

Mission and programs · 2022

Mission

TO PROMOTE ECONOMIC DEVELOPMENT INITIATIVES IN GENESEE COUNTY.

  • DEVELOPMENT OF REAL PROPERTY TO ENCOURAGE ECONOMIC GROWTH IN GENESEE COUNTY.

    Expenses $2,676,199 · Grants $1,890,297 · Revenue $771,356

As filed on the 2022 return.

Listed in Part VII

  • Donald Cunningham

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Thomas Felton

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Sarah Noble-Moag

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Gregg Torrey

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Todd Bender

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paul Battaglia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Tretter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Craig Yunker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter Zeliff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • HP HOOD LLC

    $367,000

    ECONOMIC DEVELOPMENT

  • UPSTATE NIAGARA COOPERATIVES INC

    $367,000

    ECONOMIC DEVELOPMENT

  • GENESEE COUNTY ECONOMIC DEVELOPMENT CENTER

    $300,000

    SUPPORT CONTINUATION OF THE ECONOMIC DEVELOPMENT PROGRAM AND DEVELOPMENT OF WNY STAMP PROJECT.

  • COPPERHEAD CREEK BAR

    $75,000

    ECONOMIC DEVELOPMENT

  • TERRY HILLS RESTAURANT

    $75,000

    ECONOMIC DEVELOPMENT

  • THE SPA AT ARTEMIS LLC

    $65,000

    ECONOMIC DEVELOPMENT

  • ALLEGHANY FARM SERVICES

    $60,000

    ECONOMIC DEVELOPMENT

  • FAVA BROTHERS LAWN CARE

    $60,000

    ECONOMIC DEVELOPMENT

  • HODGINS ENGRAVING CO INC

    $60,000

    ECONOMIC DEVELOPMENT

  • LNK HOLDINGS INC DBA CRAFT CANNERY

    $60,000

    ECONOMIC DEVELOPMENT

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • GENESEE COUNTY ECONOMIC DEVELOPMENT CENTER

    GOVERNMENT · ECONOMIC DEVELOPMENT · NY

    Directly controlled by GENESEE COUNTY

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GENESEE AGRI-BUSINESS LLC

    CREATING LARGE-SCALE SHOVEL-READY SITES TO ATTRACT AGRI-BUSINESS. · NY · income $17,497 · assets $4,040,745

    Directly controlled by GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • STAMP SEWER WORKS INC

    C · NY

  • STAMP WATER WORKS INC

    C · NY

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303189349300125

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