Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MANAGEMENT FEES

  total $835,297 · related or exempt $835,297

• 2b · Program service revenue: ECONOMIC DEVELOPMENT GRANTS

  total $389,123 · related or exempt $389,123

• 2c · Program service revenue: MEMBERSHIP INCOME

  total $10,713 · related or exempt $10,713

• 2d · Program service revenue: LOAN INCOME

  total $9,077 · related or exempt $9,077

• 2e · Program service revenue: MISCELLANEOUS

  total $7,707 · related or exempt $7,707

• 3 · Investment income

  total $54,690 · excluded $54,690

• 6a · Gross rents

  real property $33,211

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $33,211

• 6d · Net rental income or loss

  total $33,211 · excluded $33,211

• 7a · Gross sales of assets other than inventory

  securities $3,011,351

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

  securities $2,999,086

• 7c · Gain or loss

  securities $12,265

• 7d · Net gain or loss

  total $12,265 · excluded $12,265

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $242,501

• 5 · Compensation of officers, directors and key employees

  total $212,873

• 7 · Other salaries and wages

  total $398,632

• 8 · Pension plan contributions

  total $28,117

• 9 · Other employee benefits

  total $152,019

• 10 · Payroll taxes

  total $47,063

• 11b · Fees: legal

  total $5,583

• 11c · Fees: accounting

  total $33,947

• 11g · Fees: other

  total $175,697

• 12 · Advertising and promotion

  total $83,416

• 13 · Office expenses

  total $46,179

• 16 · Occupancy

  total $97,605

• 17 · Travel

  total $33,170

• 22 · Depreciation, depletion and amortization

  total $2,225

• 23 · Insurance

  total $9,446

• 24a · Other expenses: MISCELLANEOUS

  total $40,515

• 24b · Other expenses: DIRECT TO WORK

  total $13,451

• 24c · Other expenses: MEMBERSHIPS

  total $3,592

• 24d · Other expenses: ALLOWANCE FOR UNCOLLECT

  total -$3,662

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $28,181 · end of year $16,460

• 2 · Savings and temporary cash investments

  beginning of year $2,788,575 · end of year $2,969,581

• 3 · Pledges and grants receivable

  beginning of year $1,555,668 · end of year $1,230,880

• 4 · Accounts receivable

  beginning of year $19,343 · end of year $139,397

• 7 · Other notes and loans receivable

  beginning of year $236,490 · end of year $119,266

• 9 · Prepaid expenses and deferred charges

  beginning of year $30,506 · end of year $37,412

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

  $115,416

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

  $94,624

• 10c · Land, buildings and equipment, net

  beginning of year $23,017 · end of year $20,792

• 12 · Investments: other securities

  beginning of year $134,780 · end of year $134,780

• 15 · Other assets

  beginning of year $659,300 · end of year $581,667

• 17 · Accounts payable and accrued expenses

  beginning of year $13,421 · end of year $110,443

• 25 · Other liabilities

  beginning of year $647,045 · end of year $582,285

• 27 · Net assets without donor restrictions

  beginning of year $2,838,810 · end of year $3,112,719

• 28 · Net assets with donor restrictions

  beginning of year $1,976,584 · end of year $1,444,788

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE, HR COMMITTEE AND BOARD OF DIRECTORS AS PART OF THE ANNUAL PRESIDENTIAL REVIEW PROCESS. EVERY 2-3 YEARS SALARIES FOR COMPARABLE ECONOMIC DEVELOPMENT AGENCIES IN NEW YORK ARE OBTAINED.