Civic Intelligence

Greater Syracuse Business Development Corporation

990 • Fiscal year 2019 • EIN 16-0906565

Aug 01, 2018 to Jul 31, 2019 • Filed on Dec 15, 2019

Organization ProfileWWW.GSBDC.COM

View Organization Page

101 S Salina StSyracuse, NY 13202

(315) 373-0273

Siviq Scores

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

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

54th percentile

0.19x

Higher debt load relative to revenue than 54% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

8th percentile

-13%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

38th percentile

$107,456

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 39.0% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

16th percentile

-6.0%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

86th percentile

21%

Faster revenue growth than 86% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$1,308,652

Down $82,954 (-6.0%) from 2018

Net Assets

Down

$1,255,987

Down $36,536 (-2.8%) from 2018

Liabilities

Down

$52,665

Down $46,418 (-47%) from 2018

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin8th percentile

Revenue

Up

$275,297

Up $48,197 (+21%) from 2018

Expenses

Down

$311,833

Down $7,102 (-2.2%) from 2018

Net Income

Up

-$36,536

Up $55,299 (+60%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,550,144Liabilities 2011: $137,532Net Assets 2011: $1,412,6122011Assets 2012: $1,529,013Liabilities 2012: $86,843Net Assets 2012: $1,442,1702012Assets 2013: $1,560,885Liabilities 2013: $144,990Net Assets 2013: $1,415,8952013Assets 2014: $1,810,134Liabilities 2014: $383,517Net Assets 2014: $1,426,6172014Assets 2015: $1,742,511Liabilities 2015: $307,683Net Assets 2015: $1,434,8282015Assets 2016: $1,659,927Liabilities 2016: $219,581Net Assets 2016: $1,440,3462016Assets 2017: $1,526,500Liabilities 2017: $142,142Net Assets 2017: $1,384,3582017Assets 2018: $1,391,606Liabilities 2018: $99,083Net Assets 2018: $1,292,5232018Assets 2019: $1,308,652Liabilities 2019: $52,665Net Assets 2019: $1,255,9872019Assets 2020: $1,227,596Liabilities 2020: $43,210Net Assets 2020: $1,184,3862020Assets 2021: $1,219,415Liabilities 2021: $43,237Net Assets 2021: $1,176,1782021Assets 2022: $1,135,889Liabilities 2022: $30,530Net Assets 2022: $1,105,3592022Assets 2023: $1,205,199Liabilities 2023: $147,930Net Assets 2023: $1,057,2692023Assets 2024: $1,113,201Liabilities 2024: $155,168Net Assets 2024: $958,0332024Assets 2025: $911,030Liabilities 2025: $50,856Net Assets 2025: $860,1742025

Highlighted filing

2019

Assets$1,308,652
Liabilities$52,665
Net Assets$1,255,987
Open 2019 Filing

Operations Trend

Revenue Growth86th percentile

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

$400K$200K$0-$200KRevenue 2011: $249,005Expenses 2011: $306,519Net Income 2011: -$57,5142011Expenses 2012: $265,3082012Expenses 2013: $295,0712013Revenue 2014: $317,745Expenses 2014: $307,023Net Income 2014: $10,7222014Revenue 2015: $297,192Expenses 2015: $288,981Net Income 2015: $8,2112015Revenue 2016: $295,636Expenses 2016: $290,118Net Income 2016: $5,5182016Revenue 2017: $243,984Expenses 2017: $299,972Net Income 2017: -$55,9882017Revenue 2018: $227,100Expenses 2018: $318,935Net Income 2018: -$91,8352018Revenue 2019: $275,297Expenses 2019: $311,833Net Income 2019: -$36,5362019Revenue 2020: $243,012Expenses 2020: $314,613Net Income 2020: -$71,6012020Revenue 2021: $269,072Expenses 2021: $277,280Net Income 2021: -$8,2082021Revenue 2022: $209,466Expenses 2022: $280,285Net Income 2022: -$70,8192022Revenue 2023: $257,641Expenses 2023: $302,258Net Income 2023: -$44,6172023Revenue 2024: $216,829Expenses 2024: $316,065Net Income 2024: -$99,2362024Revenue 2025: $230,861Expenses 2025: $328,720Net Income 2025: -$97,8592025

Highlighted filing

2019

Revenue$275,297
Expenses$311,833
Net Income-$36,536
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Dec 15, 2019
Return Version
2018v3.1
Gross Receipts
$275,297
Mission and Program Overview

Mission

Encourage the locations/expansion of industrial/manufacturing facilities and net wealth generating companies, create job opportunities, reduce unemployment and facilitate the betterment of community prosperity within upstate New York, by making capital and fixed asset loans to private businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$774,642$686,609▼ $88,033
Other Notes and Loans Receivable, Net$536,573$517,038▼ $19,535
Cash and Non-Interest-Bearing Accounts$64,887$70,486▲ $5,599
Prepaid Expenses and Deferred Charges-$21,951-
Land, Buildings, and Equipment, Net$5,431$3,675▼ $1,756
Total Assets$1,391,606$1,308,652▼ $82,954
Other Assets Total$10,073$8,893▼ $1,180
Liabilities
Other Liabilities$84,249$47,140▼ $37,109
Accounts Payable and Accrued Expenses$14,834$5,525▼ $9,309
Total Liabilities$99,083$52,665▼ $46,418
Net Assets / Fund Balance
Unrestricted Net Assets$1,292,523$1,255,987▼ $36,536
Total Net Assets Fund Balance$1,292,523$1,255,987▼ $36,536
Total Liabilities and Net Assets / Fund Balance$1,391,606$1,308,652▼ $82,954

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,675$29,067$32,742
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peggy AdamsExecutive DiFT$107,456$107,456
Kathy P CampbellAssistant SeFT$77,885$77,885
Robert W EllisSecretaryFT$32,308$32,308

Board Members and Trustees

NameTitle
Kenneth GardinerChairman/pre
ANDREW D'AGOSTINOTrustee
Donald J WesternTrustee
F Paul Vellano JrTrustee
Kenneth B Jardin IiTrustee
Robert L VertucciTrustee
Stephen MarkleyTrustee
Stephen a MitchellTrustee
Susan N McdonaldTrustee
Joan a PowersTrustees
Dana LoucksVice Preside
Edward SlankVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$240,179
Investment Income
$34,858
Other Revenue
$260
Change in Net Assets
$-36,536

Audited Revenue Reconciliation

Revenue per Audited Statements
$275,297
Total Revenue per Audited Statements
$275,297
Total Revenue per Form 990
$275,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$237,308
Other Expenses$74,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$108,825$108,824-$217,649
Occupancy$10,370$10,371-$20,741
Other Employee Benefits$5,397$5,400-$10,797
Pension Plan Contributions$4,431$4,431-$8,862
Fees for Services Other-$8,515-$8,515
Insurance-$5,352-$5,352
All Other Expenses$1,451$3,376-$4,827
Fees for Services Accounting-$3,400-$3,400
Other Expenses$3,174--$3,174
Depreciation Depletion-$1,756-$1,756
Office Expenses$495--$495
Total Functional Expenses$160,408$151,425$0$311,833

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$311,833
Total Expenses per Audited Statements$311,833
Total Expenses per Form 990$311,833
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
Participation Agreement Liability$47,140
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The greater syracuse business development corporation is comprised of members. Any individual, corporation, joint stock association, unincorporated association or partnership may apply for membership. The membership shall be composed of at least twenty five members representing busines, financial institutions, community organizations and government organizations. No member or entity can control more than ten (10) percent of the corporation's voting membership.”

Form 990, Page 6, Part VI, Line 7A

“The board of trustees shall be elected at each annual meeting of members to serve until the next annual meeting, or until their successors are duly elected and qualified.”

Form 990, Page 6, Part VI, Line 7B

“YES”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by management and by certain board members.”

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

“All board and loan committee members abstain when any conflict of interest is present.”

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

“Board member review and approval.”

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

“Board member review and approval.”

Form 990, Page 6, Part VI, Line 19

“Governing documents can be viewed on the nys charities bureau website or upon request.”

Filing and Contact Details

Filer

Filer Name
Greater Syracuse Business
EIN
16-0906565
Phone
3153730273
Address
101 S SALINA ST, SYRACUSE, NY 13202

Signing Officer

Name
Robert W Ellis
Title
Secretary
Phone
3153730273
Signed
2019-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Gardiner
Formed
1962
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
Employees
3
Volunteers
13

Preparer

Firm
Tette Ingersoll & Co Cpas Pc
Address
6536 ANTHONY DR SUITE B, VICTOR, NY 14564-1403
Preparer
Kenneth E Ingersoll CPA
Phone
5854106733
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Encourage the locations/expansion of industrial/manufacturing facilities and net wealth generating companies, create job opportunities, reduce unemployment and facilitate the betterment of community prosperity within upstate new york, by making capital and fixed asset loans to private businesses.”

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IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2COMPUTER RELATED EXPENSES
IRS990/OtherExpensesGrp/Desc3SOFTWARE RENEWAL FEE
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IRS990/OtherExpensesGrp/ProgramServicesAmt18196
IRS990/OtherExpensesGrp/ProgramServicesAmt24069
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IRS990/PensionPlanContributionsGrp/TotalAmt08862
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IRS990/PrincipalOfficerNm0KENNETH GARDINER
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IRS990/PYSalariesCompEmpBnftPaidAmt0231078
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt03675
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IRS990ScheduleD/TotalRevenuePerForm990Amt0275297
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ENCOURAGE THE LOCATIONS/EXPANSION OF INDUSTRIAL/MANUFACTURING FACILITIES AND NET WEALTH GENERATING COMPANIES, CREATE JOB OPPORTUNITIES, REDUCE UNEMPLOYMENT AND FACILITATE THE BETTERMENT OF COMMUNITY PROSPERITY WITHIN UPSTATE NEW YORK, BY MAKING CAPITAL AND FIXED ASSET LOANS TO PRIVATE BUSINESSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GREATER SYRACUSE BUSINESS DEVELOPMENT CORPORATION IS COMPRISED OF MEMBERS. ANY INDIVIDUAL, CORPORATION, JOINT STOCK ASSOCIATION, UNINCORPORATED ASSOCIATION OR PARTNERSHIP MAY APPLY FOR MEMBERSHIP. THE MEMBERSHIP SHALL BE COMPOSED OF AT LEAST TWENTY FIVE MEMBERS REPRESENTING BUSINES, FINANCIAL INSTITUTIONS, COMMUNITY ORGANIZATIONS AND GOVERNMENT ORGANIZATIONS. NO MEMBER OR ENTITY CAN CONTROL MORE THAN TEN (10) PERCENT OF THE CORPORATION'S VOTING MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF TRUSTEES SHALL BE ELECTED AT EACH ANNUAL MEETING OF MEMBERS TO SERVE UNTIL THE NEXT ANNUAL MEETING, OR UNTIL THEIR SUCCESSORS ARE DULY ELECTED AND QUALIFIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY MANAGEMENT AND BY CERTAIN BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL BOARD AND LOAN COMMITTEE MEMBERS ABSTAIN WHEN ANY CONFLICT OF INTEREST IS PRESENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD MEMBER REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOARD MEMBER REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GOVERNING DOCUMENTS CAN BE VIEWED ON THE NYS CHARITIES BUREAU WEBSITE OR UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0160408
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IRS990/WebsiteAddressTxt0WWW.GSBDC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT W ELLIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03153730273
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER SYRACUSE BUSINESS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.226.255.254
ReturnHeader/FilingSecurityInformation/IPDt02019-12-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:20:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270542316
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TETTE INGERSOLL & CO CPAS PC

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,308,652
Liabilities
$52,665
Net assets
$1,255,987
Revenue
$275,297
Expenses
$311,833
Net income
-$36,536
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.91$0.05$0.86$0.23$0.33$0.10
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.16$0.96$0.22$0.32$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.15$1.06$0.26$0.30$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.14$0.03$1.11$0.21$0.28$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.22$0.04$1.18$0.27$0.28$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.04$1.18$0.24$0.31$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.31$0.05$1.26$0.28$0.31$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$0.10$1.29$0.23$0.32$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.53$0.14$1.38$0.24$0.30$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.66$0.22$1.44$0.30$0.29$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.74$0.31$1.43$0.30$0.29$0.01
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.38$1.43$0.32$0.31$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.56$0.14$1.42$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.09$1.44$0.27
2011Summary only. Only limited summary data is available for this year.$1.55$0.14$1.41$0.25$0.31$0.06