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Nonprofiteer
← GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,660,350
Total expenses
$1,690,462
Contributions and grants received
$1,617,660
Grants paid
$979,703
Program service revenue
$847,836
Investment income
$173,939
Other revenue
$20,915
Total assets, end of year
$18,814,801
Total liabilities, end of year
$7,101,446
Net assets or fund balances, end of year
$11,713,355
Program services expenses (Part IX)
$1,690,462
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,690,462

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)

    $520,432

  • 1f · All other contributions, gifts and grants

    $1,097,228

  • 2a · Program service revenue: LEASE REVENUE

    total $554,173 · related or exempt $554,173

  • 2b · Program service revenue: RENT

    total $136,961 · related or exempt $136,961

  • 2c · Program service revenue: LEASE INTEREST INCOME

    total $105,078 · related or exempt $105,078

  • 2d · Program service revenue: LOAN INTEREST INCOME

    total $36,316 · related or exempt $36,316

  • 2e · Program service revenue: MISCELLANEOUS FEES

    total $15,308 · related or exempt $15,308

  • 3 · Investment income

    total $173,939 · excluded $173,939

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $20,915 · related or exempt $20,915

  • 11e · Other revenue, total

    $20,915

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $979,703 · program services $979,703

  • 11a · Fees: management

    total $87,146 · program services $87,146

  • 11g · Fees: other

    total $69,587 · program services $69,587

  • 16 · Occupancy

    total $17,434 · program services $17,434

  • 20 · Interest

    total $152,021 · program services $152,021

  • 22 · Depreciation, depletion and amortization

    total $194,101 · program services $194,101

  • 23 · Insurance

    total $59,944 · program services $59,944

  • 24a · Other expenses: SITE MAINTENANCE

    total $88,703 · program services $88,703

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $25,595 · program services $25,595

  • 24c · Other expenses: SPECIAL DISTRICT FEES

    total $15,071 · program services $15,071

  • 24d · Other expenses: SUPPLIES

    total $779 · program services $779

  • 24e · All other expenses

    total $378 · program services $378

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,780 · end of year $300

  • 2 · Savings and temporary cash investments

    beginning of year $5,538,402 · end of year $6,317,002

  • 3 · Pledges and grants receivable

    beginning of year $34,325 · end of year $0

  • 4 · Accounts receivable

    beginning of year $9,043 · end of year $15,520

  • 5 · Loans and receivables from officers and key people

    beginning of year $90,308 · end of year $73,752

  • 7 · Other notes and loans receivable

    beginning of year $4,578,713 · end of year $3,854,973

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,088 · end of year $3,335

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

    $7,295,219

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

    $2,542,264

  • 10c · Land, buildings and equipment, net

    beginning of year $4,900,556 · end of year $4,752,955

  • 12 · Investments: other securities

    beginning of year $0 · end of year $275,000

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,963 · end of year $58,627

  • 19 · Deferred revenue

    beginning of year $40,934 · end of year $1,773

  • 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 $4,683,272 · end of year $4,428,676

  • 25 · Other liabilities

    beginning of year $3,056,599 · end of year $2,502,426

  • 27 · Net assets without donor restrictions

    beginning of year $9,956,904 · end of year $10,714,301

  • 28 · Net assets with donor restrictions

    beginning of year $786,563 · end of year $999,054

Mission and programs · 2023

Mission

TO PROMOTE ECONOMIC DEVELOPMENT INITIATIVES IN GENESEE COUNTY.

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

    Expenses $1,690,462 · Grants $979,703 · Revenue $868,751

As filed on the 2023 return.

Listed in Part VII

  • DONALD CUNNINGHAM

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • JONATHAN TRETTER

    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

  • PAUL BATTAGLIA

    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

  • MARIANNE CLATTENBURG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARK BROOKS

    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

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 $125,851 · assets $4,149,825

    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 · 100% owned · share of income -$175,971 · share of assets $138,576 · controlled entity

    Directly controlled by GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION

  • STAMP WATER WORKS INC

    C · NY · 100% owned · share of income -$5,474 · share of assets $29,163 · controlled entity

    Directly controlled by GENESEE GATEWAY LOCAL DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202433199349301853

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