Civic Intelligence

Catskill Development Foundation Inc.

990 • Fiscal year 2015 • EIN 05-0577881

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 20, 2016

5 1/2 Main StreetDelhi, NY 13753

(607) 746-9710

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

49th percentile

0.19x

Higher debt load relative to assets than 49% of similar nonprofits.

2015 filings • NTEE S • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

89th percentile

4.34x

Higher debt load relative to revenue than 89% of similar nonprofits.

2015 filings • NTEE S • $1M-$5M nonprofits • Source year 2015

Net Margin

11th percentile

-38%

Higher net margin than 11% of similar nonprofits.

2015 filings • NTEE S • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

28th percentile

$0

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE S • $1M-$5M nonprofits • Source year 2015

Asset Growth

30th percentile

-2.7%

Faster asset growth than 30% of similar nonprofits.

2015 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

32%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,322,411

Down $37,172 (-2.7%) from 2014

Net Assets

Down

$1,076,422

Down $30,401 (-2.7%) from 2014

Liabilities

Down

$245,989

Down $6,771 (-2.7%) from 2014

Revenue

Up

$56,648

Up $13,609 (+32%) from 2014

Expenses

Down

$78,199

Down $10,303 (-12%) from 2014

Net Income

Up

-$21,551

Up $23,912 (+53%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $1,054,755Liabilities 2011: $149,808Net Assets 2011: $904,9472011Assets 2012: $1,451,580Liabilities 2012: $264,860Net Assets 2012: $1,186,7202012Assets 2013: $1,405,874Liabilities 2013: $253,588Net Assets 2013: $1,152,2862013Assets 2014: $1,359,583Liabilities 2014: $252,760Net Assets 2014: $1,106,8232014Assets 2015: $1,322,411Liabilities 2015: $245,989Net Assets 2015: $1,076,4222015Assets 2016: $831,106Liabilities 2016: $238,330Net Assets 2016: $592,7762016Assets 2017: $647,282Liabilities 2017: $72,582Net Assets 2017: $574,7002017Assets 2018: $629,694Liabilities 2018: $68,593Net Assets 2018: $561,1012018Assets 2019: $607,363Liabilities 2019: $57,858Net Assets 2019: $549,5052019Assets 2020: $618,218Liabilities 2020: $51,890Net Assets 2020: $566,3282020Assets 2021: $687,398Liabilities 2021: $100,603Net Assets 2021: $586,7952021Assets 2022: $700,950Liabilities 2022: $97,657Net Assets 2022: $603,2932022Assets 2023: $739,078Liabilities 2023: $94,204Net Assets 2023: $644,8742023Assets 2024: $753,842Liabilities 2024: $91,669Net Assets 2024: $662,1732024Assets 2025: $739,824Liabilities 2025: $87,809Net Assets 2025: $652,0152025

Highlighted filing

2015

Assets$1,322,411
Liabilities$245,989
Net Assets$1,076,422

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $236,109Expenses 2011: $74,311Net Income 2011: $161,7982011Revenue 2012: $357,734Expenses 2012: $75,961Net Income 2012: $281,7732012Revenue 2013: $98,704Expenses 2013: $133,138Net Income 2013: -$34,4342013Revenue 2014: $43,039Expenses 2014: $88,502Net Income 2014: -$45,4632014Revenue 2015: $56,648Expenses 2015: $78,199Net Income 2015: -$21,5512015Revenue 2016: $55,538Expenses 2016: $85,828Net Income 2016: -$30,2902016Revenue 2017: $56,069Expenses 2017: $74,145Net Income 2017: -$18,0762017Revenue 2018: $42,172Expenses 2018: $55,396Net Income 2018: -$13,2242018Revenue 2019: $70,180Expenses 2019: $81,776Net Income 2019: -$11,5962019Revenue 2020: $71,937Expenses 2020: $56,570Net Income 2020: $15,3672020Revenue 2021: $96,307Expenses 2021: $75,840Net Income 2021: $20,4672021Revenue 2022: $94,384Expenses 2022: $77,886Net Income 2022: $16,4982022Revenue 2023: $68,116Expenses 2023: $26,535Net Income 2023: $41,5812023Revenue 2024: $65,923Expenses 2024: $48,624Net Income 2024: $17,2992024Revenue 2025: $55,757Expenses 2025: $65,915Net Income 2025: -$10,1582025

Highlighted filing

2015

Revenue$56,648
Expenses$78,199
Net Income-$21,551
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 20, 2016
Return Version
2015v2.0
Gross Receipts
$56,648
Mission and Program Overview

Mission

Increase employment opportunities by attracting, retaining, and training businesses. Promote economic welfare through development of tourism, recreation, and commerce.

The mission of the catskill development foundation. Inc. Is to increase the employment opportunities available to residents, in this area, by attracting, retaining and training new and existing businesses. Further it is the purpose of this foundation to promote the economic welfare, tourism opportunities and properity of delaware county inhabitants and to actively promote, attact, encourage and develop recreation, econmically sound commerce and industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,329,692$1,305,439▼ $24,253
Cash and Non-Interest-Bearing Accounts$17,332$9,325▼ $8,007
Accounts Receivable$1,306$4,665▲ $3,359
Intangible Assets$3,249$2,982▼ $267
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,359,583$1,322,411▼ $37,172
Other Assets Total$8,004$0▼ $8,004
Liabilities
Mortgage Notes Payable Secured by Investment Property$213,360$206,689▼ $6,671
Unsecured Notes Loans Payable$37,000$37,000→ $0
Other Liabilities$2,400$2,300▼ $100
Total Liabilities$252,760$245,989▼ $6,771
Net Assets / Fund Balance
Unrestricted Net Assets$1,106,823$1,076,422▼ $30,401
Total Net Assets Fund Balance$1,106,823$1,076,422▼ $30,401
Total Liabilities and Net Assets / Fund Balance$1,359,583$1,322,411▼ $37,172

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,091,414$199,055$1,290,469
Land$200,000-$200,000
Other Land Buildings$14,025$98,447$112,472
Compensation and Service Providers

Board Members and Trustees

NameTitle
James ThomsonChairman
Glenn NealisTrustee
Ray PucciSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$9,500
Program Service Revenue
$47,043
Investment Income
$0
Other Revenue
$105
All Other Contributions
$9,500
Change in Net Assets
$-21,551

Audited Revenue Reconciliation

Revenue per Audited Statements
$56,648
Revenue Not Reported on Form 990
$5,700
Total Revenue per Audited Statements
$62,348
Total Revenue per Form 990
$56,648
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$78,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$38,704--$38,704
Occupancy$9,345--$9,345
Interest$4,643--$4,643
Insurance$2,804--$2,804
Fees for Services Accounting-$1,100-$1,100
Other Expenses$1,080--$1,080
All Other Expenses$50$480-$530
Total Functional Expenses$76,619$1,580$0$78,199

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$83,899
Expenses per Audited Statements$78,199
Total Expenses per Form 990$78,199
Expenses Not Reported on Form 990$5,700
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$2,300
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Management and signing officers review 990 before filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person:a.has received a copy of the conflict of interest policy.b. Has read and understands the policy.c. Has agreed to comply with the policy.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Catskill Development Foundation Inc
EIN
05-0577881
Phone
6077469710
Address
5 1/2 MAIN STREET, DELHI, NY 13753

Signing Officer

Name
Ray Pucci
Title
Secretary
Signed
2016-06-20
Discuss with paid preparer
Yes

Organization Details

Formed
2001
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Mostert Manzanero & Scott LLP
Address
4 Associate Dr, Oneonta, NY 13820
Preparer
Anthony T Manzanero
Phone
6074328700
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Catskill Development Foundation, Inc. is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and as such is not subject to federal income tax. The Organization reviews the components of revenues and expenses, and analyzes whether the position that the Organization takes with regard to a particular item of income would meet the definition of an uncertain tax position under GAAP. Management believes it has appropriate support for any tax position taken, and as such, does not have any uncertain tax positions that are material to the financial statements.The Organization files information returns in the U.S. federal jurisdiction and New York State jurisdiction. The tax years that remain subject to examination by taxing authorities are generally the previous three years.

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0309730
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0190146
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt098695
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0355218
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0236101
IRS990ScheduleA/Total509Grp/TotalAmt0789522
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt056548
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt043039
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt098704
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0357734
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0236109
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0792134
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01091414
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0199055
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01290469
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt05700
IRS990ScheduleD/ExpensesNotReportedAmt05700
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IRS990ScheduleD/LandGrp/BookValueAmt0200000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0200000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt014025
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0112472
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IRS990ScheduleD/RevenueNotReportedAmt05700
IRS990ScheduleD/RevenueSubtotalAmt056648
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Catskill Development Foundation, Inc. is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and as such is not subject to federal income tax. The Organization reviews the components of revenues and expenses, and analyzes whether the position that the Organization takes with regard to a particular item of income would meet the definition of an uncertain tax position under GAAP. Management believes it has appropriate support for any tax position taken, and as such, does not have any uncertain tax positions that are material to the financial statements.The Organization files information returns in the U.S. federal jurisdiction and New York State jurisdiction. The tax years that remain subject to examination by taxing authorities are generally the previous three years.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt078199
IRS990ScheduleD/TotalLiabilityAmt02300
IRS990ScheduleD/TotalRevenuePerForm990Amt056648
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT AND SIGNING OFFICERS REVIEW 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON:A.HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY.B. HAS READ AND UNDERSTANDS THE POLICY.C. HAS AGREED TO COMPLY WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalContributionsAmt09500
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01580
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt076619
IRS990/TotalFunctionalExpensesGrp/TotalAmt078199
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0252760
IRS990/TotalLiabilitiesEOYAmt0245989
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IRS990/TotalLiabilitiesGrp/EOYAmt0245989
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IRS990/TotalProgramServiceExpensesAmt076619
IRS990/TotalProgramServiceRevenueAmt047043
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt047148
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt056648
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01359583
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01322411
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01106823
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01076422
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt037000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt037000
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0DCECENTER.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RAY PUCCI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CATSKILL DEVELOPMENT FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0CATS
ReturnHeader/Filer/EIN0050577881

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.74$0.09$0.65$0.06$0.07$0.01
2024Detailed filing. Detailed filing data is available for this year.$0.75$0.09$0.66$0.07$0.05$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.74$0.09$0.64$0.07$0.03$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.70$0.10$0.60$0.09$0.08$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.69$0.10$0.59$0.10$0.08$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.62$0.05$0.57$0.07$0.06$0.02
2019Summary only. Only limited summary data is available for this year.$0.61$0.06$0.55$0.07$0.08$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.63$0.07$0.56$0.04$0.06$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.07$0.57$0.06$0.07$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.24$0.59$0.06$0.09$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.32$0.25$1.08$0.06$0.08$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.36$0.25$1.11$0.04$0.09$0.05
2013Detailed filing. Detailed filing data is available for this year.$1.41$0.25$1.15$0.10$0.13$0.03
2012Summary only. Only limited summary data is available for this year.$1.45$0.26$1.19$0.36$0.08$0.28
2011Summary only. Only limited summary data is available for this year.$1.05$0.15$0.90$0.24$0.07$0.16