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Nonprofiteer
← DOWNTOWN SCHENECTADY IMPROVEMENT CORP

Form 990 for tax year 2022

Filed by DOWNTOWN SCHENECTADY IMPROVEMENT CORP.

Totals

Total revenue
$791,188
Total expenses
$897,254
Contributions and grants received
$339,840
Grants paid
$0
Program service revenue
$449,858
Investment income
$3,430
Other revenue
-$1,940
Total assets, end of year
$846,779
Total liabilities, end of year
$214,315
Net assets or fund balances, end of year
$632,464
Program services expenses (Part IX)
$838,597
Management and general expenses
$23,563
Fundraising expenses
$35,094
Program service expenses (Part III)
$838,597

Program services were 93.5% 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.

  • 1e · Government grants (contributions)

    $244,200

  • 1f · All other contributions, gifts and grants

    $95,640

  • 2a · Program service revenue: ASSESSMENT REVENUE

    total $330,000 · related or exempt $330,000

  • 2b · Program service revenue: LANDSCAPING SERVICES

    total $49,020 · related or exempt $49,020

  • 2c · Program service revenue: TICKET SALES

    total $40,520 · related or exempt $40,520

  • 2d · Program service revenue: OTHER INCOME

    total $29,693 · related or exempt $29,693

  • 2e · Program service revenue: MARKETING PARTICIPATION

    total $625 · related or exempt $625

  • 3 · Investment income

    total $3,430 · excluded $3,430

  • 8a · Fundraising events: gross income

    $32,500

  • 8b · Fundraising events: direct expenses

    $34,440

  • 8c · Net income from fundraising events

    total -$1,940

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $117,081 · program services $108,143 · management and general $1,064 · fundraising $7,874

  • 7 · Other salaries and wages

    total $361,672 · program services $339,887 · management and general $13,828 · fundraising $7,957

  • 8 · Pension plan contributions

    total $6,805 · program services $6,002 · management and general $363 · fundraising $440

  • 9 · Other employee benefits

    total $26,017 · program services $24,738 · fundraising $1,279

  • 10 · Payroll taxes

    total $51,098 · program services $47,853 · management and general $1,622 · fundraising $1,623

  • 12 · Advertising and promotion

    total $7,893 · program services $7,864 · management and general $12 · fundraising $17

  • 13 · Office expenses

    total $8,784 · program services $8,578 · management and general $83 · fundraising $123

  • 16 · Occupancy

    total $74,081 · program services $70,833 · management and general $1,345 · fundraising $1,903

  • 22 · Depreciation, depletion and amortization

    total $37,938 · program services $34,008 · management and general $1,627 · fundraising $2,303

  • 23 · Insurance

    total $29,131 · program services $26,113 · management and general $1,250 · fundraising $1,768

  • 24a · Other expenses: PROFESSIONAL SERVICES

    total $42,439 · program services $37,902 · management and general $1,749 · fundraising $2,788

  • 24b · Other expenses: PROGRAM EVENT EXPENSES

    total $27,443 · program services $23,361 · management and general $27 · fundraising $4,055

  • 24c · Other expenses: MAINT CONTRACT SERVICES

    total $27,251 · program services $27,251

  • 24d · Other expenses: LANDSCAPING

    total $18,255 · program services $18,255

  • 24e · All other expenses

    total $61,366 · program services $57,809 · management and general $593 · fundraising $2,964

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $349,408 · end of year $247,165

  • 2 · Savings and temporary cash investments

    beginning of year $150,528 · end of year $176,088

  • 3 · Pledges and grants receivable

    beginning of year $40,000 · end of year $105,704

  • 7 · Other notes and loans receivable

    beginning of year $95,673 · end of year $48,543

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,778 · end of year $31,745

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

    $266,308

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

    $154,212

  • 10c · Land, buildings and equipment, net

    beginning of year $143,037 · end of year $112,096

  • 15 · Other assets

    beginning of year $172,809 · end of year $125,438

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,400 · end of year $54,383

  • 19 · Deferred revenue

    beginning of year $2,494 · end of year $34,494

  • 25 · Other liabilities

    beginning of year $172,809 · end of year $125,438

  • 27 · Net assets without donor restrictions

    beginning of year $738,530 · end of year $632,464

Mission and programs · 2022

Mission

OUR MISSION IS TO PROMOTE DOWNTOWN SCHENECTADY AS A PREMIER LOCATION FOR COMMERCE, RECREATION AND RESIDENCE BY ENHANCING, FACILITATING AND SUPPORTING ECONOMIC GROWTH.

  • ENVIRONMENTAL ENHANCEMENT - CONSIDERS THE CLEANLINESS AND VISUAL APPEAL OF DOWNTOWN SCHENECTADY TO BE AN ESSENTIAL PART OF ALL OTHER REDEVELOPMENT EFFORTS THROUGHOUT OUR DISTRICT. DAILY SIDEWALK MAINTENANCE, SEASONAL HANGING BASKETS, LANDSCAPING AND WINTER HOLIDAY DECORATIONS ARE JUST A FEW WAYS THAT WE ACHIEVE THIS GOAL.

    Expenses $656,237 · Revenue $356,449

  • BUSINESS PROMOTION MARKETING PROGRAM - TO PROMOTE DOWNTOWN SCHENECTADY AS A DESTINATION FOR SHOPPING, DINING, RECREATION AND ENTERTAINMENT, AS WELL AS AN IDEAL PLACE TO LOCATE PROFESSIONAL OFFICES RANGING FROM SINGLE PROPRIETORSHIPS TO MAJOR CORPORATE HEADQUARTERS.

    Expenses $182,360 · Revenue $93,409

As filed on the 2022 return.

Listed in Part VII

  • JAMES SALENGO

    EXECUTIVE DI

    Total calculated
    $117,082
    From this org
    $106,406
    From related orgs
    $0
    Other
    $10,676
    Hours/week
    40

  • PAUL AMBROSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL BURNS

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • ANDREA CORTELYOU

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AUSTIN FISHER

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • RAY LEGERE

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY MORLANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HEATHER PETERSON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • MITCH RAMSEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PHIL WAJDA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 September 2023
IRS schema version
2022v5.0
Source object
202312449349301406

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