Form 990 for tax year 2023
Filed by DEVELOPMENT CHENANGO CORPORATION.
Totals
- Total revenue
- $252,762
- Total expenses
- $332,940
- Contributions and grants received
- $157,593
- Grants paid
- $9,406
- Program service revenue
- $22,842
- Investment income
- $49,804
- Other revenue
- $22,523
- Total assets, end of year
- $3,655,209
- Total liabilities, end of year
- $168,117
- Net assets or fund balances, end of year
- $3,487,092
- Program services expenses (Part IX)
- $163,502
- Management and general expenses
- $169,438
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $163,502
Program services were 49.1% 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)
$156,993
-
1f · All other contributions, gifts and grants
$600
-
2a · Program service revenue: LOAN INTEREST EARNED
total $22,842 · related or exempt $22,842
-
3 · Investment income
total $53,317 · excluded $53,317
-
6a · Gross rents
real property $62,030
-
6b · Less rental expenses
real property $39,757
-
6c · Rental income or loss
real property $22,273
-
6d · Net rental income or loss
total $22,273 · excluded $22,273
-
7a · Gross sales of assets other than inventory
securities $295,767
-
7b · Less cost or other basis and sales expenses
securities $299,280
-
7c · Gain or loss
securities -$3,513
-
7d · Net gain or loss
total -$3,513 · excluded -$3,513
-
11a · Other revenue: OTHER INCOME
total $250 · related or exempt $250
-
11e · Other revenue, total
$250
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $9,406 · program services $9,406
-
11a · Fees: management
total $124,098 · program services $55,844 · management and general $68,254
-
11b · Fees: legal
total $29,679 · program services $22,892 · management and general $6,787
-
11c · Fees: accounting
total $24,446 · program services $18,856 · management and general $5,590
-
11f · Fees: investment management
total $10,249 · management and general $10,249
-
12 · Advertising and promotion
total $11,536 · management and general $11,536
-
13 · Office expenses
total $1,212 · program services $1,212
-
16 · Occupancy
total $12,006 · program services $5,405 · management and general $6,601
-
17 · Travel
total $1,916 · program services $1,916
-
20 · Interest
total $1,462 · program services $1,023 · management and general $439
-
22 · Depreciation, depletion and amortization
total $28,302 · program services $22,641 · management and general $5,661
-
23 · Insurance
total $2,214 · program services $1,550 · management and general $664
-
24a · Other expenses: BAD DEBTS
total $53,382 · management and general $53,382
-
24b · Other expenses: SPECIAL PROJECTS
total $22,757 · program services $22,757
-
24c · Other expenses: CHAR500 FILING FEE
total $275 · management and general $275
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $99,340 · end of year $190,263
-
2 · Savings and temporary cash investments
beginning of year $57,649 · end of year $72,300
-
4 · Accounts receivable
beginning of year $4,753 · end of year $21,241
-
7 · Other notes and loans receivable
beginning of year $820,094 · end of year $663,478
-
9 · Prepaid expenses and deferred charges
beginning of year $1,036 · end of year $1,320
-
10a · Land, buildings and equipment: cost or other basis
$1,139,156
-
10b · Land, buildings and equipment: accumulated depreciation
$186,892
-
10c · Land, buildings and equipment, net
beginning of year $980,566 · end of year $952,264
-
11 · Investments: publicly traded securities
beginning of year $1,629,924 · end of year $1,754,343
-
17 · Accounts payable and accrued expenses
beginning of year $4,452 · end of year $27,771
-
23 · Secured mortgages and notes payable
beginning of year $151,152 · end of year $140,346
-
27 · Net assets without donor restrictions
beginning of year $3,437,758 · end of year $3,487,092
Mission and programs · 2023
Mission
TO ADVANCE BUSINESS DEVELOPMENT AND CREATE JOB OPPORTUNITIES THROUGHOUT CHENANGO COUNTY, NEW YORK.
-
DIRECT EXPENDITURES MADE FOR THE PROMOTION OF ECONOMIC DEVELOPMENT IN CHENANGO COUNTY, NEW YORK.
Expenses $126,288 · Grants $9,406
-
DIRECT EXPENDITURES MADE FOR THE MANAGEMENT OF DCC ADMINISTERED LOAN PORTFOLIOS.
Expenses $27,169 · Revenue $23,092
-
GRANTS AND BUSINESSES FOR THE PROMOTION OF ECONOMIC DEVELOPMENT IN CHENANGO COUNTY, NEW YORK AND THE RELATED ADMINISTRATIVE EXPENSES.
Expenses $10,045
As filed on the 2023 return.
Listed in Part VII
-
Terry PotterTERRY POTTER
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Sheila MarshmanSHEILA MARSHMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Shane ButlerSHANE BUTLER
DIRECTOR/VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Pete KomendarekPETE KOMENDAREK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Perry DeweyPERRY DEWEY
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Pegi LoprestiPEGI LOPRESTI
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike FlanaganMIKE FLANAGAN
DIRECTOR/CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Melissa StagnaroMELISSA STAGNARO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mary BranhamMARY BRANHAM
VICE CHAIR/DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marty EldredMARTY ELDRED
TREASURER (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Luke HalbergLUKE HALBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kenneth SmithKENNETH SMITH
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Julia MillerJULIA MILLER
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
John HinmanJOHN HINMAN
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Jennifer TeleskyJENNIFER TELESKY
CHAIR/DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
George SeneckGEORGE SENECK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Cliff OlinCLIFF OLIN
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Christine McAvoy PaulCHRISTINE MCAVOY PAUL
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian DoliverBRIAN DOLIVER
DIRECTOR (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.5
-
Brian BurtonBRIAN BURTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Erik ScrivenerERIK SCRIVENER
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Luke MurphyLUKE MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kurt EdwardsKURT EDWARDS
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Phil WadePHIL WADE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Scott RyanSCOTT RYAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tyler OliverTYLER OLIVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marci RiddellMARCI RIDDELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Salvatore TestaniSALVATORE TESTANI
EXECUTIVE DIRECTOR
- Total calculated
- $112,863
- From this org
- $0
- From related orgs
- $96,540
- Other
- $16,323
- Hours/week
- 20 + 40 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.
Grants on this return
-
CHENANGO COUNTY INDUSTRIAL DEVELOPMENT AGENCY
$0
ECONOMIC DEVELOPMENT
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
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 20 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402359349301020
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