Form 990 for tax year 2024
Filed by DEVELOPMENT CHENANGO CORPORATION.
Totals
- Total revenue
- $273,121
- Total expenses
- $300,858
- Contributions and grants received
- $153,183
- Grants paid
- $0
- Program service revenue
- $54,543
- Investment income
- $105,081
- Other revenue
- -$39,686
- Total assets, end of year
- $3,639,705
- Total liabilities, end of year
- $153,873
- Net assets or fund balances, end of year
- $3,485,832
- Program services expenses (Part IX)
- $200,432
- Management and general expenses
- $100,426
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $200,432
Program services were 66.6% 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)
$153,183
-
2a · Program service revenue: LOAN INTEREST AND FEES
total $17,970 · related or exempt $17,970
-
2b · Program service revenue: PROJECT FEES
total $25,863 · related or exempt $25,863
-
2c · Program service revenue: WOMENS LEADERSHIP
total $10,710 · related or exempt $10,710
-
3 · Investment income
total $105,081 · excluded $105,081
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $31,227
-
6b · Less rental expenses
real property $70,913
-
6c · Rental income or loss
real property -$39,686
-
6d · Net rental income or loss
total -$39,686 · related or exempt -$39,686
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $133,423 · program services $60,040 · management and general $73,383
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $10,822 · program services $10,822
-
11g · Fees: other
total $40,957 · program services $31,537 · management and general $9,420
-
12 · Advertising and promotion
total $9,812 · management and general $9,812
-
13 · Office expenses
total $18,790 · program services $18,790
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $12,085 · program services $5,438 · management and general $6,647
-
17 · Travel
total $2,007 · program services $2,007
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $1,355 · program services $948 · management and general $407
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $2,902 · program services $2,902
-
23 · Insurance
total $2,523 · program services $1,766 · management and general $757
-
24a · Other expenses: SPECIAL PROJECTS
total $55,486 · program services $55,486
-
24b · Other expenses: ADMINISTRATION
total $10,696 · program services $10,696
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $190,263 · end of year $357,439
-
2 · Savings and temporary cash investments
beginning of year $72,300 · end of year $8,692
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $21,241 · end of year $4,253
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $663,478 · end of year $465,352
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,320 · end of year $1,320
-
10a · Land, buildings and equipment: cost or other basis
$1,139,156
-
10b · Land, buildings and equipment: accumulated depreciation
$215,194
-
10c · Land, buildings and equipment, net
beginning of year $952,264 · end of year $923,962
-
11 · Investments: publicly traded securities
beginning of year $1,754,343 · end of year $1,878,687
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $27,771 · end of year $24,442
-
24 · Unsecured notes and loans payable
beginning of year $140,346 · end of year $129,431
-
27 · Net assets without donor restrictions
beginning of year $3,487,092 · end of year $3,485,832
Mission and programs · 2024
Mission
To promote and coordinate economic development in Chenango County through education and technical assistance, business investment, downtown revitalization, and by attracting funding to Chenangos businesses and communities.
Activities or mission (Part I)
PERFORMANCE GOALS:PROVIDE ASSISTANCE TO COMPANIES EXPANDING IN CHENANGO COUNTYPROVIDE ASSISTANCE TO COMPANIES LOCATING IN CHENANGO COUNTYPROVIDE ASSISTANCE TO COMPANIES TO RETAIN JOBS IN CHENANGO COUNTYSUPPORT PROJECTS THAT WILL INCREASE AVAILABLE EMPLOYMENT OPPORTUNITIES IN CHENANGO COUNTYFACILITATE AN INCREASE IN THE AVAILABILITY OF A WELL-TRAINED AND SKILLED WORKFORCE IN CHENANGO COUNTYPARTICIPATE IN DOWNTOWN REVITALIZATION EFFORTS THROUGHOUT CHENANGO COUNTYSUPPORT EFFORTS TO ATTAIN NECESSARY INFRASTRUCTURE TO SUSTAIN BUSINESS ACTIVITY THROUGHOUT CHENANGO COUNTYREDUCE THE NUMBER OF DILAPIDATED/BLIGHTED COMMERCIAL PROPERTIES THROUGHOUT CHENANGO COUNTY
-
DIRECT EXPENDITURES MADE FOR THE PROMOTION OF ECONOMIC DEVELOPMENT IN CHENANGO COUNTY, NEW YORK.
Expenses $200,432 · Revenue $54,543
As filed on the 2024 return.
Listed in Part VII
-
Salvatore TestaniSALVATORE TESTANI
Executive Dir.
- Total calculated
- $105,000
- From this org
- $0
- From related orgs
- $105,000
- Other
- $0
- Hours/week
- 40
-
Mike FlanaganMIKE FLANAGAN
Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Shane ButlerSHANE BUTLER
Vice Chair
- Total calculated
- $0
- Hours/week
- 0.5
-
Erik ScrivenerERIK SCRIVENER
Secretary
- Total calculated
- $0
- Hours/week
- 0.5
-
Kurt EdwardsKURT EDWARDS
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Adam SpenceADAM SPENCE
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Pete KomendarekPETE KOMENDAREK
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Marci RiddellMARCI RIDDELL
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Phil WadePHIL WADE
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Diane ScalzoDIANE SCALZO
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Julia MillerJULIA MILLER
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Ed CoatesED COATES
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Chris KisackyCHRIS KISACKY
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Mary BranhamMARY BRANHAM
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Luke MurphyLUKE MURPHY
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian BurtonBRIAN BURTON
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeffery BlanchardJEFFERY BLANCHARD
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian BurtonBRIAN BURTON
CHAIRMAN IDA
- Total calculated
- $0
- Hours/week
- 0.5
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
No itemized grants to organizations on this return.
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.
-
501(C)6 · EDUCATE AND ORGANIZE BUSINESSES · NY
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2025
- IRS schema version
- 2024v5.1
- Source object
- 202531359349305298
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