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Nonprofiteer
← CENTERSTATE DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2022

Filed by CENTERSTATE DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$1,470,410
Total expenses
$1,398,971
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,381,633
Investment income
$88,777
Other revenue
$0
Total assets, end of year
$3,630,271
Total liabilities, end of year
$542,498
Net assets or fund balances, end of year
$3,087,773
Program services expenses (Part IX)
$1,041,963
Management and general expenses
$357,008
Fundraising expenses
$0
Program service expenses (Part III)
$1,041,963

Program services were 74.5% 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.

  • 2a · Program service revenue: LM COMMON AREA MAINT C

    total $1,381,633 · related or exempt $1,381,633

  • 3 · Investment income

    total $88,777 · excluded $88,777

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $132,595 · management and general $132,595

  • 11b · Fees: legal

    total $1,048 · program services $1,048

  • 11c · Fees: accounting

    total $24,638 · program services $24,638

  • 11f · Fees: investment management

    total $5,072 · program services $5,072

  • 16 · Occupancy

    total $5,354 · program services $5,354

  • 22 · Depreciation, depletion and amortization

    total $34,735 · program services $34,735

  • 23 · Insurance

    total $74,390 · program services $74,390

  • 24a · Other expenses: SNOW REMOVAL

    total $449,453 · program services $449,453

  • 24b · Other expenses: REPAIRS

    total $245,558 · program services $245,558

  • 24c · Other expenses: SUPERVISORY COSTS

    total $224,413 · management and general $224,413

  • 24d · Other expenses: LANDSCAPING

    total $147,159 · program services $147,159

  • 24e · All other expenses

    total $54,556 · program services $54,556

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $571,107 · end of year $918,121

  • 2 · Savings and temporary cash investments

    beginning of year $210,749 · end of year $210,870

  • 4 · Accounts receivable

    beginning of year $28,947 · end of year $68,678

  • 7 · Other notes and loans receivable

    beginning of year $1,517,933 · end of year $1,431,589

  • 9 · Prepaid expenses and deferred charges

    beginning of year $64,548 · end of year $63,402

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

    $806,022

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

    $314,268

  • 10c · Land, buildings and equipment, net

    beginning of year $494,549 · end of year $491,754

  • 15 · Other assets

    beginning of year $445,857 · end of year $445,857

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,639 · end of year $194,475

  • 18 · Grants payable

    beginning of year $4,513 · end of year $4,513

  • 19 · Deferred revenue

    beginning of year $123,300 · end of year $34,643

  • 25 · Other liabilities

    beginning of year $130,904 · end of year $308,867

  • 27 · Net assets without donor restrictions

    beginning of year $1,838,424 · end of year $1,910,711

  • 28 · Net assets with donor restrictions

    beginning of year $1,177,910 · end of year $1,177,062

Mission and programs · 2022

Mission

ECONOMIC DEVELOPMENT OF THE CITY OF SYRACUSE AND URBAN AREA IN UPSTATE NEW YORK

Activities or mission (Part I)

TO COMBAT THE DETERIORATION OF THE CITY OF SYRACUSE AND ADJOINING AREAS BY DEVELOPING AND DISSEMINATING LAND USE PLANS FOR THE AREA; OFFER RESOLUTIONS TO URBAN PROBLEM AREAS, TO ELIMINATE EXISTING DETERIORATED AREAS, AND PREVENT THE DESTRUCTION OF EXISTING AREAS; ENCOURAGE COMMUNITY CULTURAL AND EDUCATIONAL ACTIVITIES; UNDERTAKE STUDIES TO IDENTIFY COMMUNITY HEALTH NEEDS AND ENCOURAGE INDUTRIAL AND COMMERCIAL FIRMS TO LOCATE FACILITIES WITHIN THE DEPRESSED AREAS IN ORDER TO PROVIDE EMPLOYMENT FOR THE RESIDENTS WITHIN THESE AREAS.

  • DURING THE YEAR THE FOUNDATION EFFORTS WERE FOCUSED ON ACTIVITIES ALIGNED WITH ITS EXEMPT PURPOSES: ENCOURAGES COMMUNITY CULTURAL AND EDUCATIONAL ACTIVITIES, AND UNDERTAKES STUDIES TO IDENTIFY COMMUNITY HEALTH NEEDS. BY OFFERING RESOLUTIONS TO URBAN PROBLEM AREAS, THE FOUNDATION HELPS TO ELIMINATE EXISTING DETERIORATED AREAS, AND TO PREVENT THE DESTRUCTION OF EXISTING AREAS. THE FOUNDATION ALSO ENCOURAGES INDUSTRIAL AND COMMERCIAL FIRMS TO LOCATE NEW FACILITIES WITHIN THE DEPRESSED AREAS IN ORDER TO PROVIDE EMPLOYMENT FOR THE RESIDENTS WITHIN THESE AREAS.

    Expenses $1,041,963 · Revenue $1,381,633

As filed on the 2022 return.

Listed in Part VII

  • Evelyn Carter Ingram

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Melanie W Littlejohn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timothy Penix

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nate Andrews

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vicki Brackens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Nutting

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Schneckenburger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Margaret O'Connell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gail Cowley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Crossett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mantosh Dewan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Huhtala

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Nash

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Townsend

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timothy Murphy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Seth Kronenberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Warren Hilton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Crokett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Simpson

    PRESIDENT

    Total calculated
    $409,017
    From this org
    $0
    From related orgs
    $340,735
    Other
    $68,282
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $335,467 related
    Bonus
    $0
    Other
    $0 + $5,268 related
    Deferred
    $0 + $33,590 related
    Nontaxable benefits
    $0 + $34,692 related
    Filer's total
    $0 + $409,017 related

  • Amy Lawler

    SVP OF FINANCE

    Total calculated
    $99,105
    From this org
    $0
    From related orgs
    $87,344
    Other
    $11,761
    Hours/week
    1 + 40 related

  • Lori Dietz

    SVP OF ADMINISTRATION & HUMAN CAPITAL

    Total calculated
    $132,595
    From this org
    $116,502
    From related orgs
    $0
    Other
    $16,093
    Hours/week
    40 + 1 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE RELATED ORGANIZATION REQUIRES BOARD/ COMPENSATION COMMITTEE APPROVAL OF SALARIES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

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.

  • ELECTRONICS PARK LLC

    REAL ESTATE MGMT · NY

    Directly controlled by CENTERSTATE DEVELOPMENT FOUNDATION INC

  • MDF PROPERTY HOLDINGS LLC

    REAL ESTATE MGMT · NY

    Directly controlled by CENTERSTATE DEVELOPMENT FOUNDATION INC

Related corporations and trusts

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

  • GREATER SYRACUSE SERVICES CORP DBA BENEFIT SPECIALISTS OF NY

    C · TO ADMISISTER GROUP EMPLOYEE BENEFIT PLANS ON BEHALF OF CHAMBER OF COMMERCE · NY

    Directly controlled by GREATER SYRACUSE CHAMBER OF COMMERCE

  • CENTERSTATE CEO HOLDINGS LLC

    C · INVESTMENT HOLDING COMPANY · NY

    Directly controlled by CENTERSTATE CORP FOR ECONOMIC

Provenance

Return type
form_990
Tax year
2022
Filed
27 June 2023
IRS schema version
2022v5.0
Source object
202321919349301262

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