Civic Intelligence

Greater Glens Falls Local Development Corporation

990 • Fiscal year 2013 • EIN 14-1674747

Jan 01, 2013 to Dec 31, 2013 • Filed on May 13, 2014

City Hall 42 Ridge Street12801

(518) 761-3833

Siviq Scores

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

Liabilities / Assets

50th percentile

0.10x

Higher debt load relative to assets than 50% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

67th percentile

0.42x

Higher debt load relative to revenue than 67% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Net Margin

97th percentile

84%

Higher net margin than 97% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2013 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2013

Asset Growth

87th percentile

20%

Faster asset growth than 87% of similar nonprofits.

2013 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$3,386,624

Up $573,732 (+20%) from 2012

Net Assets

Up

$3,060,796

Up $651,568 (+27%) from 2012

Liabilities

Down

$325,828

Down $77,836 (-19%) from 2012

Revenue

$779,115

No earlier filing loaded for comparison.

Expenses

Down

$127,547

Down $187,269 (-59%) from 2012

Net Income

$651,568

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $2,689,370Liabilities 2010: $584,182Net Assets 2010: $2,105,1882010Assets 2011: $1,902,526Liabilities 2011: $7,236Net Assets 2011: $1,895,2902011Assets 2012: $2,812,892Liabilities 2012: $403,664Net Assets 2012: $2,409,2282012Assets 2013: $3,386,624Liabilities 2013: $325,828Net Assets 2013: $3,060,7962013Assets 2014: $2,861,690Liabilities 2014: $212,349Net Assets 2014: $2,649,3412014Assets 2015: $2,651,767Liabilities 2015: $164,272Net Assets 2015: $2,487,4952015Assets 2016: $2,594,783Liabilities 2016: $157,485Net Assets 2016: $2,437,2982016Assets 2017: $2,581,285Liabilities 2017: $179,616Net Assets 2017: $2,401,6692017Assets 2018: $2,690,123Liabilities 2018: $373,971Net Assets 2018: $2,316,1522018Assets 2019: $2,860,868Liabilities 2019: $625,531Net Assets 2019: $2,235,3372019Assets 2020: $2,679,975Liabilities 2020: $469,086Net Assets 2020: $2,210,8892020Assets 2021: $3,029,527Liabilities 2021: $487,874Net Assets 2021: $2,541,6532021Assets 2022: $2,853,769Liabilities 2022: $360,899Net Assets 2022: $2,492,8702022Assets 2023: $2,576,941Liabilities 2023: $305,533Net Assets 2023: $2,271,4082023Assets 2024: $2,377,342Liabilities 2024: $276,326Net Assets 2024: $2,101,0162024

Highlighted filing

2013

Assets$3,386,624
Liabilities$325,828
Net Assets$3,060,796

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $291,2092010Expenses 2011: $270,2952011Expenses 2012: $314,8162012Revenue 2013: $779,115Expenses 2013: $127,547Net Income 2013: $651,5682013Revenue 2014: $10,269Expenses 2014: $91,314Net Income 2014: -$81,0452014Revenue 2015: $15,333Expenses 2015: $177,179Net Income 2015: -$161,8462015Revenue 2016: $14,612Expenses 2016: $64,809Net Income 2016: -$50,1972016Revenue 2017: $22,382Expenses 2017: $58,011Net Income 2017: -$35,6292017Revenue 2018: $38,167Expenses 2018: $123,684Net Income 2018: -$85,5172018Revenue 2019: $140,154Expenses 2019: $220,969Net Income 2019: -$80,8152019Revenue 2020: $77,684Expenses 2020: $102,132Net Income 2020: -$24,4482020Revenue 2021: $376,260Expenses 2021: $45,496Net Income 2021: $330,7642021Revenue 2022: $287,113Expenses 2022: $335,896Net Income 2022: -$48,7832022Revenue 2023: $187,152Expenses 2023: $408,614Net Income 2023: -$221,4622023Revenue 2024: $273,391Expenses 2024: $442,661Net Income 2024: -$169,2702024

Highlighted filing

2013

Revenue$779,115
Expenses$127,547
Net Income$651,568
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 13, 2014
Return Version
2013v3.1
Gross Receipts
$779,115
Mission and Program Overview

Mission

The corporation makes revolving loans available to local businesses to enhance redevelopment for the purpose of providing job opportunities and reducing unemployment. The corporation also participates in other econcomic development activities such as seeking grants, administering grants and other programs.

The corporation makes revolving loans available to local businesses to enhance redevelopment for the purpose of relieving andd reducing unemployment and providing job opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,353,188$1,745,888▲ $392,700
Cash and Non-Interest-Bearing Accounts$1,038,219$977,609▼ $60,610
Other Notes and Loans Receivable, Net$99,616$34,606▼ $65,010
Prepaid Expenses and Deferred Charges-$722-
Total Assets$2,812,892$3,386,624▲ $573,732
Other Assets Total$321,869$627,799▲ $305,930
Liabilities
Mortgage Notes Payable Secured by Investment Property$347,153$302,033▼ $45,120
Deferred Revenue$34,892$14,921▼ $19,971
Accounts Payable and Accrued Expenses$21,619$8,874▼ $12,745
Total Liabilities$403,664$325,828▼ $77,836
Net Assets / Fund Balance
Unrestricted Net Assets$1,893,728$2,756,098▲ $862,370
Temporarily Rstr Net Assets$515,500$304,698▼ $210,802
Total Net Assets Fund Balance$2,409,228$3,060,796▲ $651,568
Total Liabilities and Net Assets / Fund Balance$2,812,892$3,386,624▲ $573,732

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,745,888-$1,745,888
Other Assets Org$627,799--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John a DiamondChairman
Todd FeifenbaumVice Chairman
Dan HallDirector
Roy ThomasDirector
Edward BartholomewExecutive Director
Leo RogbyCFO
Judy CalogeroSecretary
Lois RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$774,028
Program Service Revenue
$0
Investment Income
$4,127
Other Revenue
$960
Change in Net Assets
$651,568

Audited Revenue Reconciliation

Revenue per Audited Statements
$779,115
Total Revenue per Audited Statements
$779,115
Total Revenue per Form 990
$779,115
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$112,997
Grants and Similar Amounts Paid$14,550
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$24,038-$24,038
Other Expenses$21,350--$21,350
Grants to Domestic Orgs$14,550--$14,550
Interest$9,307--$9,307
Fees for Services Legal$8,712--$8,712
Office Expenses$7,409--$7,409
Insurance$4,161--$4,161
Total Functional Expenses$103,509$24,038$0$127,547

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$127,547
Total Expenses per Audited Statements$127,547
Total Expenses per Form 990$127,547
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
26-2268939---$6,000
09-3621735---$6,000
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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, Section B, Line 11

The form 990 is provided to the executive director of the organization, who provides copies to each director for their review prior to filing.

Form 990, Part VI, Section C, Line 19

Documents are available upon request at the glens falls, ny city hall.

Form 990, Part VII, Section A, Line 1A

John diamond is also mayor of the city of glens falls. Edward bartholomew also serves as the director of community and economic development for the city of glens falls.

Filing and Contact Details

Filer

EIN
14-1674747
Phone
5187613833

Signing Officer

Name
John Diamond
Title
Chairman
Signed
2014-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Diamond
Formed
1984
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
8
Employees
0

Preparer

Preparer
Michael J McCarthy CPA
Phone
5187926668
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Description of organization and purpose relieving and reducing unemployment and providing job opportunities.

Form 990, Part XII, Line 2C

The process of selecting the independent auditor and reviewing the audited financial statements has not changed from the prior year.

Raw XML AppendixShowing 400 of 407 raw XML fields

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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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01745888
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0627799
IRS990ScheduleD/TotalExpensesPerForm990Amt0127547
IRS990ScheduleD/TotalRevenuePerForm990Amt0779115
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0779115
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0127547
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt06000
IRS990ScheduleI/RecipientTable/CashGrantAmt16000
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10MM MOORE REALTY CORP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine11CRAIG MERRILL
IRS990ScheduleI/RecipientTable/RecipientEIN0262268939
IRS990ScheduleI/RecipientTable/RecipientEIN1093621735
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1030 LOST TREE LANE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine118 ESSEX COURT
IRS990ScheduleI/RecipientTable/USAddress/City0RAMSEY
IRS990ScheduleI/RecipientTable/USAddress/City1QUEENSBURY
IRS990ScheduleI/RecipientTable/USAddress/State0NJ
IRS990ScheduleI/RecipientTable/USAddress/State1NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode007446
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode112804
IRS990ScheduleI/TotalOtherOrgCnt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION OF ORGANIZATION AND PURPOSE RELIEVING AND REDUCING UNEMPLOYMENT AND PROVIDING JOB OPPORTUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO THE EXECUTIVE DIRECTOR OF THE ORGANIZATION, WHO PROVIDES COPIES TO EACH DIRECTOR FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE GLENS FALLS, NY CITY HALL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS OF SELECTING THE INDEPENDENT AUDITOR AND REVIEWING THE AUDITED FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4JOHN DIAMOND IS ALSO MAYOR OF THE CITY OF GLENS FALLS. EDWARD BARTHOLOMEW ALSO SERVES AS THE DIRECTOR OF COMMUNITY AND ECONOMIC DEVELOPMENT FOR THE CITY OF GLENS FALLS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VII, Section A, Line 1A
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10GLENS FALLS INDUSTRIAL DEVELOPMENT AGENCY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0141643998
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 C4
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVIDES SUPPORT TO THE OVERALL ECONOMIC WELFARE OF THE CITY OF GLENS FALLS, NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1042 RIDGE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0GLENS FALLS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode012801
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/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0515500
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0304698
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02812892
IRS990/TotalAssetsEOYAmt03386624
IRS990/TotalAssetsGrp/BOYAmt02812892
IRS990/TotalAssetsGrp/EOYAmt03386624
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0774028
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024038
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0103509
IRS990/TotalFunctionalExpensesGrp/TotalAmt0127547
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0403664
IRS990/TotalLiabilitiesEOYAmt0325828
IRS990/TotalLiabilitiesGrp/BOYAmt0403664
IRS990/TotalLiabilitiesGrp/EOYAmt0325828
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02409228
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03060796
IRS990/TotalProgramServiceExpensesAmt0103509
IRS990/TotalRevenueGrp/ExclusionAmt04127
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0960
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0779115
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02812892
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03386624
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01893728
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02756098
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10CITY HALL 42 RIDGE STREET
IRS990/USAddress/City0GLENS FALLS
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode012801
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.GLENSFALLSLDC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN DIAMOND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10GREATER GLENS FALLS LOCAL DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0141674747
ReturnHeader/Filer/PhoneNum05187613833
ReturnHeader/Filer/USAddress/AddressLine10CITY HALL 42 RIDGE STREET
ReturnHeader/Filer/USAddress/City0GLENS FALLS
ReturnHeader/Filer/USAddress/State0NY
ReturnHeader/Filer/USAddress/ZIPCode012801
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10McCarthy & Conlon LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10123 Quaker Road Suite 103B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Queensbury
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode012804
ReturnHeader/PreparerPersonGrp/PhoneNum05187926668

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.38$0.28$2.10$0.27$0.44$0.17
2023Detailed filing. Detailed filing data is available for this year.$2.58$0.31$2.27$0.19$0.41$0.22
2022Detailed filing. Detailed filing data is available for this year.$2.85$0.36$2.49$0.29$0.34$0.05
2021Detailed filing. Detailed filing data is available for this year.$3.03$0.49$2.54$0.38$0.05$0.33
2020Detailed filing. Detailed filing data is available for this year.$2.68$0.47$2.21$0.08$0.10$0.02
2019Detailed filing. Detailed filing data is available for this year.$2.86$0.63$2.24$0.14$0.22$0.08
2018Detailed filing. Detailed filing data is available for this year.$2.69$0.37$2.32$0.04$0.12$0.09
2017Detailed filing. Detailed filing data is available for this year.$2.58$0.18$2.40$0.02$0.06$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.59$0.16$2.44$0.01$0.06$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.65$0.16$2.49$0.02$0.18$0.16
2014Detailed filing. Detailed filing data is available for this year.$2.86$0.21$2.65$0.01$0.09$0.08
2013Detailed filing. Detailed filing data is available for this year.$3.39$0.33$3.06$0.78$0.13$0.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.40$2.41$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$0.01$1.90$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$0.58$2.11$0.29