Civic Intelligence

Franklin County Local Development Corporation

990 • Fiscal year 2015 • EIN 14-1763507

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 08, 2016

Organization ProfileWWW.FRANKLINIDA.ORG
10 Elm Street Suite 2Malone, NY 12953

(518) 483-9472

Siviq Scores

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

Liabilities / Assets

56th percentile

0.15x

Higher debt load relative to assets than 56% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

2.58x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

98th percentile

92%

Higher net margin than 98% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

59th percentile

3.3%

Faster asset growth than 59% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

81st percentile

27%

Faster revenue growth than 81% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$3,730,478

Up $117,761 (+3.3%) from 2014

Net Assets

Up

$3,171,917

Up $199,260 (+6.7%) from 2014

Liabilities

Down

$558,561

Down $81,499 (-13%) from 2014

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin98th percentile

Revenue

Up

$216,789

Up $45,617 (+27%) from 2014

Expenses

Down

$17,530

Down $356,386 (-95%) from 2014

Net Income

Up

$199,259

Up $402,003 (+198%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,506,144Liabilities 2011: $850,947Net Assets 2011: $2,655,1972011Assets 2012: $3,731,938Liabilities 2012: $845,405Net Assets 2012: $2,886,5332012Assets 2013: $3,917,284Liabilities 2013: $740,108Net Assets 2013: $3,177,1762013Assets 2014: $3,612,717Liabilities 2014: $640,060Net Assets 2014: $2,972,6572014Assets 2015: $3,730,478Liabilities 2015: $558,561Net Assets 2015: $3,171,9172015Assets 2016: $3,478,341Liabilities 2016: $435,772Net Assets 2016: $3,042,5692016Assets 2017: $3,520,257Liabilities 2017: $330,439Net Assets 2017: $3,189,8182017Assets 2018: $3,555,059Liabilities 2018: $196,666Net Assets 2018: $3,358,3932018Assets 2019: $3,526,750Liabilities 2019: $68,843Net Assets 2019: $3,457,9072019Assets 2020: $3,548,800Liabilities 2020: $46,299Net Assets 2020: $3,502,5012020Assets 2021: $3,825,928Liabilities 2021: $845,725Net Assets 2021: $2,980,2032021Assets 2022: $2,712,658Liabilities 2022: $169,155Net Assets 2022: $2,543,5032022Assets 2023: $2,550,163Liabilities 2023: $121,062Net Assets 2023: $2,429,1012023Assets 2024: $2,365,932Liabilities 2024: $79,808Net Assets 2024: $2,286,1242024

Highlighted filing

2015

Assets$3,730,478
Liabilities$558,561
Net Assets$3,171,917
Open 2015 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MExpenses 2011: $19,7592011Expenses 2012: $12,9692012Revenue 2013: $300,023Expenses 2013: $9,380Net Income 2013: $290,6432013Revenue 2014: $171,172Expenses 2014: $373,916Net Income 2014: -$202,7442014Revenue 2015: $216,789Expenses 2015: $17,530Net Income 2015: $199,2592015Revenue 2016: $194,748Expenses 2016: $324,096Net Income 2016: -$129,3482016Revenue 2017: $156,075Expenses 2017: $8,826Net Income 2017: $147,2492017Revenue 2018: $207,609Expenses 2018: $39,034Net Income 2018: $168,5752018Revenue 2019: $520,566Expenses 2019: $421,052Net Income 2019: $99,5142019Revenue 2020: $732,965Expenses 2020: $688,371Net Income 2020: $44,5942020Revenue 2021: $376,410Expenses 2021: $898,708Net Income 2021: -$522,2982021Revenue 2022: $888,839Expenses 2022: $1,321,109Net Income 2022: -$432,2702022Revenue 2023: $656,958Expenses 2023: $771,360Net Income 2023: -$114,4022023Revenue 2024: $711,325Expenses 2024: $854,302Net Income 2024: -$142,9772024

Highlighted filing

2015

Revenue$216,789
Expenses$17,530
Net Income$199,259
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 8, 2016
Return Version
2015v2.1
Gross Receipts
$216,789
Mission and Program Overview

Mission

The ldc is committed to serving new and existing businesses and industries, and to assist with the creation and retention of quality jobs through direct and collaborative funding of projects for the economic well being of franklin county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,159,492$2,421,036▲ $261,544
Other Notes and Loans Receivable, Net$1,397,716$1,259,097▼ $138,619
Cash and Non-Interest-Bearing Accounts$52,845$48,805▼ $4,040
Land, Buildings, and Equipment, Net$2,664$1,480▼ $1,184
Accounts Receivable-$60-
Total Assets$3,612,717$3,730,478▲ $117,761
Liabilities
Deferred Revenue$637,309$558,520▼ $78,789
Accounts Payable and Accrued Expenses$2,750$41▼ $2,709
Total Liabilities$640,059$558,561▼ $81,498
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,775,624$2,895,684▲ $120,060
Unrestricted Net Assets$197,034$276,233▲ $79,199
Total Net Assets Fund Balance$2,972,658$3,171,917▲ $199,259
Total Liabilities and Net Assets / Fund Balance$3,612,717$3,730,478▲ $117,761
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
John ChildChair
Justus MartinVice-chair
Andrew SchraderAssistant Se
James EllisAssistant Tr
Paul EllisAsst Treasur
John TubbsCEO
Andrea DumasSecretary
Earl LavoieTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,272
Program Service Revenue
$195,181
Investment Income
$410
Other Revenue
$19,926
Change in Net Assets
$199,259

Audited Revenue Reconciliation

Revenue per Audited Statements
$216,789
Total Revenue per Audited Statements
$216,789
Total Revenue per Form 990
$216,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,530
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
Fees for Services Legal$3,641$3,642-$7,283
Advertising$2,802--$2,802
Fees for Services Accounting$1,250$1,250-$2,500
Depreciation Depletion$1,184--$1,184
Insurance-$925-$925
Other Expenses$250$250-$500
Total Functional Expenses$11,463$6,067$0$17,530

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,530
Total Expenses per Audited Statements$17,530
Total Expenses per Form 990$17,530
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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

“Board reviews a draft copy of the 990 before submission”

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

“Directors are required to sign a conflict of interest policy and disclose conflicts.”

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

“Compensation is reviewed and approved by the governing board, however there are no employees”

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

“Compensation for employees is determined and approved by the governing board, however thre are no employees.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Franklin County Local Development
EIN
14-1763507
Address
10 ELM STREET SUITE 2, MALONE, NY 12953

Signing Officer

Name
John Tubbs
Title
CEO
Phone
5184839472
Signed
2016-11-08

Organization Details

Principal Officer
John Tubbs
Formed
1995
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Crowley & Halloran Cpas Pc
Address
215 WASHINGTON ST STE 100, WATERTOWN, NY 13601-3343
Preparer
Pamela J Halloran
Phone
3157883140
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The ldc is committed to serving new and existing businesses and industries, and to assist with the creation and retention of quality jobs through direct and collaborative funding of projects for the economic well being of franklin county.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Fasb asc 740, "income taxes," requires entities to disclose in their financial statements the nature of any uncertainties in their tax position. Tax years including 2012 and later are subject to examination by tax authorities. Areas that irs and state tax authorities consider when examining tax returns of a charity include, but may not be limited to, tax-exempt status and the existence and amount of unrelated business income. Franklin county local development corporation does not believe that it has any uncertain tax positions with respect to these or other matters, and has not recorded any unrecognized tax benefits or liability for penalties or interest. Franklin county local development corporation is not aware of any circumstances or events that make it reasonably possible that tax benefits may increase or decrease within 12 months of the date of these financial statements.”

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IRS990ScheduleD/ExpensesSubtotalAmt017530
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt0216789
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FASB ASC 740, "INCOME TAXES," REQUIRES ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTIES IN THEIR TAX POSITION. TAX YEARS INCLUDING 2012 AND LATER ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES. AREAS THAT IRS AND STATE TAX AUTHORITIES CONSIDER WHEN EXAMINING TAX RETURNS OF A CHARITY INCLUDE, BUT MAY NOT BE LIMITED TO, TAX-EXEMPT STATUS AND THE EXISTENCE AND AMOUNT OF UNRELATED BUSINESS INCOME. FRANKLIN COUNTY LOCAL DEVELOPMENT CORPORATION DOES NOT BELIEVE THAT IT HAS ANY UNCERTAIN TAX POSITIONS WITH RESPECT TO THESE OR OTHER MATTERS, AND HAS NOT RECORDED ANY UNRECOGNIZED TAX BENEFITS OR LIABILITY FOR PENALTIES OR INTEREST. FRANKLIN COUNTY LOCAL DEVELOPMENT CORPORATION IS NOT AWARE OF ANY CIRCUMSTANCES OR EVENTS THAT MAKE IT REASONABLY POSSIBLE THAT TAX BENEFITS MAY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE DATE OF THESE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalExpensesPerForm990Amt017530
IRS990ScheduleD/TotalRevenuePerForm990Amt0216789
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0216789
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt017530
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LDC IS COMMITTED TO SERVING NEW AND EXISTING BUSINESSES AND INDUSTRIES, AND TO ASSIST WITH THE CREATION AND RETENTION OF QUALITY JOBS THROUGH DIRECT AND COLLABORATIVE FUNDING OF PROJECTS FOR THE ECONOMIC WELL BEING OF FRANKLIN COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS A DRAFT COPY OF THE 990 BEFORE SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS REVIEWED AND APPROVED BY THE GOVERNING BOARD, HOWEVER THERE ARE NO EMPLOYEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION FOR EMPLOYEES IS DETERMINED AND APPROVED BY THE GOVERNING BOARD, HOWEVER THRE ARE NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02775624
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02895684
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03612717
IRS990/TotalAssetsEOYAmt03730478
IRS990/TotalAssetsGrp/BOYAmt03612717
IRS990/TotalAssetsGrp/EOYAmt03730478
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01272
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06067
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011463
IRS990/TotalFunctionalExpensesGrp/TotalAmt017530
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0640059
IRS990/TotalLiabilitiesEOYAmt0558561
IRS990/TotalLiabilitiesGrp/BOYAmt0640059
IRS990/TotalLiabilitiesGrp/EOYAmt0558561
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02972658
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03171917
IRS990/TotalProgramServiceExpensesAmt011463
IRS990/TotalProgramServiceRevenueAmt0195181
IRS990/TotalRevenueGrp/ExclusionAmt0410
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0215107
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0216789
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03612717
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03730478
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0197034
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0276233
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.FRANKLINIDA.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN TUBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05184839472
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANKLIN COUNTY LOCAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0141763507
ReturnHeader/Filer/USAddress/AddressLine1Txt010 ELM STREET SUITE 2
ReturnHeader/Filer/USAddress/CityNm0MALONE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012953
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364709572
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CROWLEY & HALLORAN CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0215 WASHINGTON ST STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0136013343
ReturnHeader/PreparerPersonGrp/PhoneNum03157883140
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAMELA J HALLORAN
ReturnHeader/ReturnTs02016-11-10T20:58:39-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,730,478
Liabilities
$558,561
Net assets
$3,171,917
Revenue
$216,789
Expenses
$17,530
Net income
$199,259
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.08$2.29$0.71$0.85$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.55$0.12$2.43$0.66$0.77$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.71$0.17$2.54$0.89$1.32$0.43
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.85$2.98$0.38$0.90$0.52
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.55$0.05$3.50$0.73$0.69$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.53$0.07$3.46$0.52$0.42$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.56$0.20$3.36$0.21$0.04$0.17
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.52$0.33$3.19$0.16$0.01$0.15
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.48$0.44$3.04$0.19$0.32$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.73$0.56$3.17$0.22$0.02$0.20
2014Detailed filing. Detailed filing data is available for this year.$3.61$0.64$2.97$0.17$0.37$0.20
2013Detailed filing. Detailed filing data is available for this year.$3.92$0.74$3.18$0.30$0.01$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.73$0.85$2.89$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$0.85$2.66$0.02