Civic Intelligence

Essex County Industrial Development Agency Inc

990 • Fiscal year 2020 • EIN 14-1630643

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 29, 2021

7655 Court Street PO Box 217Elizabethtown, NY 12932

(518) 873-9114

Siviq Scores

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

Liabilities / Assets

34th percentile

0.03x

Higher debt load relative to assets than 34% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.61x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Net Margin

6th percentile

-45%

Higher net margin than 6% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

41st percentile

$0

Higher top officer pay than 41% of similar nonprofits.

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

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Asset Growth

32nd percentile

-0.6%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

11th percentile

-32%

Faster revenue growth than 11% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Down

$6,939,641

Down $42,725 (-0.6%) from 2019

Net Assets

Down

$6,706,401

Down $173,141 (-2.5%) from 2019

Liabilities

Up

$233,240

Up $130,416 (+127%) from 2019

Revenue

Down

$381,940

Down $180,566 (-32%) from 2019

Expenses

Down

$555,081

Down $135,627 (-20%) from 2019

Net Income

Down

-$173,141

Down $44,939 (-35%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $7,983,624Liabilities 2011: $49,974Net Assets 2011: $7,933,6502011Assets 2012: $8,326,572Liabilities 2012: $10,874Net Assets 2012: $8,315,6982012Assets 2013: $8,291,633Liabilities 2013: $5,411Net Assets 2013: $8,286,2222013Assets 2014: $8,389,289Liabilities 2014: $63,306Net Assets 2014: $8,325,9832014Assets 2015: $8,358,100Liabilities 2015: $37,673Net Assets 2015: $8,320,4272015Assets 2016: $8,241,326Liabilities 2016: $170,254Net Assets 2016: $8,071,0722016Assets 2017: $8,114,833Liabilities 2017: $105,122Net Assets 2017: $8,009,7112017Assets 2018: $7,141,515Liabilities 2018: $133,771Net Assets 2018: $7,007,7442018Assets 2019: $6,982,366Liabilities 2019: $102,824Net Assets 2019: $6,879,5422019Assets 2020: $6,939,641Liabilities 2020: $233,240Net Assets 2020: $6,706,4012020Assets 2021: $6,993,712Liabilities 2021: $225,327Net Assets 2021: $6,768,3852021Assets 2022: $7,551,695Liabilities 2022: $229,386Net Assets 2022: $7,322,3092022Assets 2023: $7,609,612Liabilities 2023: $181,470Net Assets 2023: $7,428,1422023Assets 2024: $7,207,126Liabilities 2024: $159,233Net Assets 2024: $7,047,8932024

Highlighted filing

2020

Assets$6,939,641
Liabilities$233,240
Net Assets$6,706,401

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $441,307Expenses 2011: $378,476Net Income 2011: $62,8312011Revenue 2012: $706,275Expenses 2012: $341,065Net Income 2012: $365,2102012Revenue 2013: $381,318Expenses 2013: $410,794Net Income 2013: -$29,4762013Revenue 2014: $371,342Expenses 2014: $331,581Net Income 2014: $39,7612014Revenue 2015: $353,012Expenses 2015: $351,520Net Income 2015: $1,4922015Revenue 2016: $358,114Expenses 2016: $396,181Net Income 2016: -$38,0672016Revenue 2017: $809,627Expenses 2017: $870,988Net Income 2017: -$61,3612017Revenue 2018: $684,658Expenses 2018: $757,195Net Income 2018: -$72,5372018Revenue 2019: $562,506Expenses 2019: $690,708Net Income 2019: -$128,2022019Revenue 2020: $381,940Expenses 2020: $555,081Net Income 2020: -$173,1412020Revenue 2021: $680,003Expenses 2021: $618,019Net Income 2021: $61,9842021Revenue 2022: $977,916Expenses 2022: $423,992Net Income 2022: $553,9242022Revenue 2023: $839,644Expenses 2023: $733,811Net Income 2023: $105,8332023Revenue 2024: $322,595Expenses 2024: $702,844Net Income 2024: -$380,2492024

Highlighted filing

2020

Revenue$381,940
Expenses$555,081
Net Income-$173,141
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 29, 2021
Return Version
2020v4.0
Gross Receipts
$381,940
Mission and Program Overview

Mission

Our mission is to create a viable business atmosphere that will attract compatible and diverse sustainable economic development opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,521,208$4,629,028▲ $107,820
Other Notes and Loans Receivable, Net$1,092,865$1,183,556▲ $90,691
Cash and Non-Interest-Bearing Accounts$1,312,124$920,316▼ $391,808
Pledges and Grants Receivable-$54,294-
Prepaid Expenses and Deferred Charges$1,250--
Total Assets$6,982,366$6,939,641▼ $42,725
Other Assets Total$54,919$152,447▲ $97,528
Liabilities
Other Liabilities$92,921$226,337▲ $133,416
Accounts Payable and Accrued Expenses$9,903$6,903▼ $3,000
Total Liabilities$102,824$233,240▲ $130,416
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,262,898$5,113,843▼ $149,055
Net Assets Without Donor Restrictions$1,616,644$1,592,558▼ $24,086
Total Net Assets Fund Balance$6,879,542$6,706,401▼ $173,141
Total Liabilities and Net Assets / Fund Balance$6,982,366$6,939,641▼ $42,725

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,738,192-$3,738,192
Buildings$573,662$154,346$728,008
Leasehold Improvements$288,816$104,292$393,108
Equipment$28,358$159,325$187,683
Compensation and Service Providers

Board Members and Trustees

NameTitle
Darren DarrahChairman
James BowenDirector
James MountyDirector
Jamie RogersDirector
Matthew CourtrightDirector
Roy HolzerDirector
John BoyeaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$231,360
Program Service Revenue
$150,580
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-173,141
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$297,799
Salaries, Compensation, and Employee Benefits$257,282
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$233,945$2,829-$236,774
Other Salaries and Wages$179,735--$179,735
Pension Plan Contributions$64,019--$64,019
Depreciation Depletion$39,283--$39,283
Payroll Taxes$13,528--$13,528
Fees for Services Legal$8,099--$8,099
Fees for Services Accounting-$7,578-$7,578
Office Expenses-$5,180-$5,180
Travel$885--$885
Total Functional Expenses$539,494$15,587$0$555,081
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Liabilities$226,337
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
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, Page 6, Part VI, Line 11B

A draft of form 990 is provided to the one of the co-executive directors for review. Upon the ed's approval, the copy of the finalized form 990 is distributed to each of the board members.

Form 990, Page 6, Part VI, Line 12C

As each loan application is reviewed, the board is asked for any conflicts of interest. If a board member has a conflict, they must recuse themselves from approving or rejecting that applicant's loan.

Form 990, Page 6, Part VI, Line 15A

Executive directors salaries are determined by the board of directors.

Form 990, Page 6, Part VI, Line 19

As required by new york state public authorities law, all governing documents, policies, and financial statements are posted on the agency's website for public access.

Filing and Contact Details

Filer

Filer Name
Essex County Industrial Development
EIN
14-1630643
Phone
5188739114
Address
7655 COURT STREET PO BOX 217, ELIZABETHTOWN, NY 12932

Signing Officer

Name
Jody Olcott
Title
Co-executive Directo
Phone
5188739114
Signed
2021-03-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Darren Darrah
Formed
1973
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
3

Preparer

Firm
Boulrice & Wood Cpas Pc
Address
206 W BAY PLAZA, PLATTSBURGH, NY 12901-1786
Preparer
Stephen P Wood CPA
Phone
5185613790
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Bank service charges 0 333 0 equipment leases & maint 0 2,496 0 bad debt expense 6,782 0 0 dues & subscriptions 811 0 0 grant expenditures 89,294 0 0 industrial park expenses 21,127 0 0 insurance 10,615 0 0 marketing expense 834 0 0 miscellaneous 1,783 0 0 program expenses 99,716 0 0 telephone 2,983 0 0 total 233,945 2,829 0

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS PROVIDED TO THE ONE OF THE CO-EXECUTIVE DIRECTORS FOR REVIEW. UPON THE ED'S APPROVAL, THE COPY OF THE FINALIZED FORM 990 IS DISTRIBUTED TO EACH OF THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS EACH LOAN APPLICATION IS REVIEWED, THE BOARD IS ASKED FOR ANY CONFLICTS OF INTEREST. IF A BOARD MEMBER HAS A CONFLICT, THEY MUST RECUSE THEMSELVES FROM APPROVING OR REJECTING THAT APPLICANT'S LOAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTORS SALARIES ARE DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AS REQUIRED BY NEW YORK STATE PUBLIC AUTHORITIES LAW, ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE POSTED ON THE AGENCY'S WEBSITE FOR PUBLIC ACCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK SERVICE CHARGES 0 333 0 EQUIPMENT LEASES & MAINT 0 2,496 0 BAD DEBT EXPENSE 6,782 0 0 DUES & SUBSCRIPTIONS 811 0 0 GRANT EXPENDITURES 89,294 0 0 INDUSTRIAL PARK EXPENSES 21,127 0 0 INSURANCE 10,615 0 0 MARKETING EXPENSE 834 0 0 MISCELLANEOUS 1,783 0 0 PROGRAM EXPENSES 99,716 0 0 TELEPHONE 2,983 0 0 TOTAL 233,945 2,829 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0ESSEX CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine2Txt0IDA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ESSEX CO CAPITAL RESOURCES CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0274698218
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt03
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0BOND FINAN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt06
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 217
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ELIZABETHTOWN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd012932
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06982366
IRS990/TotalAssetsEOYAmt06939641
IRS990/TotalAssetsGrp/BOYAmt06982366
IRS990/TotalAssetsGrp/EOYAmt06939641
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0231360
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015587
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0539494
IRS990/TotalFunctionalExpensesGrp/TotalAmt0555081
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0102824
IRS990/TotalLiabilitiesEOYAmt0233240
IRS990/TotalLiabilitiesGrp/BOYAmt0102824
IRS990/TotalLiabilitiesGrp/EOYAmt0233240
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06879542
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06706401
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt06000
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt06000
IRS990/TotalProgramServiceExpensesAmt0539494
IRS990/TotalProgramServiceRevenueAmt0150580
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0150580
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0381940
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06982366
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06939641
IRS990/TravelGrp/ProgramServicesAmt0885
IRS990/TravelGrp/TotalAmt0885
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 217
IRS990/USAddress/CityNm0ELIZABETHTOWN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012932
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.ESSEXCOUNTYIDA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JODY OLCOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-EXECUTIVE DIRECTO
ReturnHeader/BusinessOfficerGrp/PhoneNum05188739114
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ESSEX COUNTY INDUSTRIAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0AGENCY INC
ReturnHeader/Filer/BusinessNameControlTxt0ESSE
ReturnHeader/Filer/EIN0141630643
ReturnHeader/Filer/PhoneNum05188739114
ReturnHeader/Filer/USAddress/AddressLine1Txt07655 COURT STREET PO BOX 217
ReturnHeader/Filer/USAddress/CityNm0ELIZABETHTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012932
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464094820
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BOULRICE & WOOD CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0206 W BAY PLAZA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLATTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0129011786
ReturnHeader/PreparerPersonGrp/PhoneNum05185613790
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN P WOOD CPA
ReturnHeader/ReturnTs02021-04-16T07:42:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JODY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0OLCOTT
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.21$0.16$7.05$0.32$0.70$0.38
2023Summary only. Only limited summary data is available for this year.$7.61$0.18$7.43$0.84$0.73$0.11
2022Summary only. Only limited summary data is available for this year.$7.55$0.23$7.32$0.98$0.42$0.55
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.99$0.23$6.77$0.68$0.62$0.06
2020Detailed filing. Detailed filing data is available for this year.$6.94$0.23$6.71$0.38$0.56$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.98$0.10$6.88$0.56$0.69$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.14$0.13$7.01$0.68$0.76$0.07
2017Summary only. Only limited summary data is available for this year.$8.11$0.11$8.01$0.81$0.87$0.06
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.24$0.17$8.07$0.36$0.40$0.04
2015Summary only. Only limited summary data is available for this year.$8.36$0.04$8.32$0.35$0.35$0.00
2014Detailed filing. Detailed filing data is available for this year.$8.39$0.06$8.33$0.37$0.33$0.04
2013Detailed filing. Detailed filing data is available for this year.$8.29$0.01$8.29$0.38$0.41$0.03
2012Summary only. Only limited summary data is available for this year.$8.33$0.01$8.32$0.71$0.34$0.37
2011Summary only. Only limited summary data is available for this year.$7.98$0.05$7.93$0.44$0.38$0.06