Civic Intelligence

Southern Tier Economic Development

EIN 16-1475745 • 501(c)3 • Elmira, NY

Profile

Southern tier economic development, inc., was formed to reduce unemployment, promote job opportunities by attracting industry to the southern tier of new york state, to encourage the development of industry in the community and lessen the burden of government, thus performing an essential governmental function.

C/O Sayles Evans 1 W Church StElmira, NY 14901
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

100th percentile

95033.33x

Higher debt load relative to assets than 100% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2016

Net Margin

99th percentile

102%

Higher net margin than 99% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$90

Down $9,459,308 (-100%) from 2015

Liabilities

Down

$8,553,000

Down $8,675,819 (-50%) from 2015

Net Assets

Down

-$8,552,910

Down $783,489 (-10%) from 2015

Operations
Liabilities / RevenueScore unavailableNet Margin99th percentile

Revenue

Down

-$9,273,577

Down $9,273,577 from 2015

Expenses

Down

$185,685

Down $157,118 (-46%) from 2015

Net Income

Down

-$9,459,262

Down $9,116,459 (-2659%) from 2015

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$10M$0-$10MAssets 2011: $10,830,605Liabilities 2011: $15,498,856Net Assets 2011: -$4,668,2512011Assets 2012: $10,487,806Liabilities 2012: $15,498,856Net Assets 2012: -$5,011,0502012Assets 2013: $10,145,003Liabilities 2013: $17,228,819Net Assets 2013: -$7,083,8162013Assets 2014: $9,802,201Liabilities 2014: $17,228,819Net Assets 2014: -$7,426,6182014Assets 2015: $9,459,398Liabilities 2015: $17,228,819Net Assets 2015: -$7,769,4212015Assets 2016: $90Liabilities 2016: $8,553,000Net Assets 2016: -$8,552,9102016

Highlighted filing

2016

Assets$90
Liabilities$8,553,000
Net Assets-$8,552,910
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$5.0M$0-$5.0M-$10MExpenses 2011: $352,9512011Expenses 2012: $346,0182012Revenue 2013: $52,305Expenses 2013: $395,108Net Income 2013: -$342,8032013Revenue 2014: $4,986Expenses 2014: $347,788Net Income 2014: -$342,8022014Revenue 2015: $0Expenses 2015: $342,803Net Income 2015: -$342,8032015Revenue 2016: -$9,273,577Expenses 2016: $185,685Net Income 2016: -$9,459,2622016

Highlighted filing

2016

Revenue-$9,273,577
Expenses$185,685
Net Income-$9,459,262
Open 2016 Filing

Filings

Most recent year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$90
Liabilities
$8,553,000
Net assets
-$8,552,910
Revenue
-$9,273,577
Expenses
$185,685
Net income
-$9,459,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$8.55$8.55$9.27$0.19$9.46
2015Detailed filing. Detailed filing data is available for this year.$9.46$17.2$7.77$0.00$0.34$0.34
2014Detailed filing. Detailed filing data is available for this year.$9.80$17.2$7.43$0.00$0.35$0.34
2013Detailed filing. Detailed filing data is available for this year.$10.1$17.2$7.08$0.05$0.40$0.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$15.5$5.01$0.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$15.5$4.67$0.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 15, 2017
Return Version
2016v3.0
Gross Receipts
$0
Mission and Program Overview

Mission

Southern tier economic development, inc., was formed to reduce unemployment, promote job opportunities by attracting industry to the southern tier of new york state, to encourage the development of industry in the community and lessen the burden of government, thus performing an essential governmental function.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,459,262--
Cash and Non-Interest-Bearing Accounts$136$90▼ $46
Rtn Earn Endowment Incm Other Fnds$-7,769,421$-8,552,910▼ $783,489
Total Assets$9,459,398$90▼ $9,459,308
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,611,633--
Unsecured Notes Loans Payable$8,553,000$8,553,000→ $0
Other Liabilities$64,186--
Total Liabilities$17,228,819$8,553,000▼ $8,675,819
Net Assets / Fund Balance
Total Net Assets Fund Balance$-7,769,421$-8,552,910▼ $783,489
Total Liabilities and Net Assets / Fund Balance$9,459,398$90▼ $9,459,308
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kevin D KeeleyPresident, D
John F PotterV.president,
Kimberlee MiddaughDirector
Douglas C TifftSecretary, D
Ronald E AllisonTreasurer, D
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-9,273,577
Other Revenue
$0
Change in Net Assets
$-9,459,262
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$185,685
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-$185,685-$185,685
Total Functional Expenses$0$185,685$0$185,685
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
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, Page 6, Part VI, Line 11B

“Form 990 is available to all members of the organization's governing body. The organization's legal counsel reviews form 990.”

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

“The legal counsel for the organization monitors compliance with the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“All organization's governing documents/financial statements and policies are available upon request and may be obtained from organization's legal counsel. Organization's certificate of incorporation/forms 990 may be obtained from new york state office of the attorney general, and are available on the website of the new york state charities bureau.”

Filing and Contact Details

Filer

Filer Name
Southern Tier Economic Development
EIN
16-1475745
Phone
6077342271
Address
C/O SAYLES EVANS 1 W CHURCH ST, ELMIRA, NY 14901

Signing Officer

Name
Kevin D Keeley
Title
President, Director
Phone
6077342271
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin D Keeley
Formed
1995
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Sayles & Evans
Address
1 W CHURCH ST, ELMIRA, NY 14901
Preparer
Steven E Agan
Phone
6077342271
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Southern tier economic development, inc., was formed to reduce unemployment, promote job opportunities by attracting industry to the southern tier of new york state, to encourage the development of industry in the community and lessen the burden of government, thus performing an essential governmental function.”

Form 990, Part XI, Line 9

“Assets tranferred with deed in lieu of foreclosure 8,675,773”

Raw XML Appendix282 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.

Path#Value
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IRS990/ActivityOrMissionDesc0SOUTHERN TIER ECONOMIC DEVELOPMENT, INC., WAS FORMED TO REDUCE UNEMPLOYMENT, PROMOTE JOB OPPORTUNITIES BY ATTRACTING INDUSTRY TO THE SOUTHERN TIER OF NEW YORK STATE, TO ENCOURAGE THE DEVELOPMENT OF INDUSTRY IN THE COMMUNITY AND LESSEN THE BURDEN OF GOVERNMENT, THUS PERFORMING AN ESSENTIAL GOVERNMENTAL FUNCTION.
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IRS990/Desc0SOUTHERN TIER ECONOMIC DEVELOPMENT, INC., OPERATED A COMMUNITY CIVIC CENTER AS ITS EXCLUSIVE PROGRAM SERVICE WHICH WAS TRANSFERRED IN JULY 2016. THE ORGANIZATION IS RE-EVALUATING THEIR MISSION AND FOCUS.
IRS990/DescribedInSection501c3Ind0true
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IRS990/EmployeeCnt00
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IRS990/Form990PartVIISectionAGrp/PersonNm0KEVIN D KEELEY
IRS990/Form990PartVIISectionAGrp/PersonNm1JOHN F POTTER
IRS990/Form990PartVIISectionAGrp/PersonNm2RONALD E ALLISON
IRS990/Form990PartVIISectionAGrp/PersonNm3DOUGLAS C TIFFT
IRS990/Form990PartVIISectionAGrp/PersonNm4KIMBERLEE MIDDAUGH
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT, D
IRS990/Form990PartVIISectionAGrp/TitleTxt1V.PRESIDENT,
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER, D
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY, D
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01995
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt0-9273577
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt00
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt05
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09459262
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt09273577
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0SOUTHERN TIER ECONOMIC DEVELOPMENT, INC., WAS FORMED TO REDUCE UNEMPLOYMENT, PROMOTE JOB OPPORTUNITIES BY ATTRACTING INDUSTRY TO THE SOUTHERN TIER OF NEW YORK STATE, TO ENCOURAGE THE DEVELOPMENT OF INDUSTRY IN THE COMMUNITY AND LESSEN THE BURDEN OF GOVERNMENT, THUS PERFORMING AN ESSENTIAL GOVERNMENTAL FUNCTION.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt08611633
IRS990/NetAssetsOrFundBalancesBOYAmt0-7769421
IRS990/NetAssetsOrFundBalancesEOYAmt0-8552910
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-9273577
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-9273577
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt08675773
IRS990/OtherLiabilitiesGrp/BOYAmt064186
IRS990/PartialLiquidationInd0true
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0KEVIN D KEELEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0342803
IRS990/PYRevenuesLessExpensesAmt0-342803
IRS990/PYTotalExpensesAmt0342803
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-9459262
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-7769421
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-8552910
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt052305
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03219
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IRS990ScheduleA/TotalSupportAmt060510
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IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0FIRST EXCELSIOR GROUP LLC
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOUTHERN TIER ECONOMIC DEVELOPMENT, INC., WAS FORMED TO REDUCE UNEMPLOYMENT, PROMOTE JOB OPPORTUNITIES BY ATTRACTING INDUSTRY TO THE SOUTHERN TIER OF NEW YORK STATE, TO ENCOURAGE THE DEVELOPMENT OF INDUSTRY IN THE COMMUNITY AND LESSEN THE BURDEN OF GOVERNMENT, THUS PERFORMING AN ESSENTIAL GOVERNMENTAL FUNCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS AVAILABLE TO ALL MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. THE ORGANIZATION'S LEGAL COUNSEL REVIEWS FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE LEGAL COUNSEL FOR THE ORGANIZATION MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL ORGANIZATION'S GOVERNING DOCUMENTS/FINANCIAL STATEMENTS AND POLICIES ARE AVAILABLE UPON REQUEST AND MAY BE OBTAINED FROM ORGANIZATION'S LEGAL COUNSEL. ORGANIZATION'S CERTIFICATE OF INCORPORATION/FORMS 990 MAY BE OBTAINED FROM NEW YORK STATE OFFICE OF THE ATTORNEY GENERAL, AND ARE AVAILABLE ON THE WEBSITE OF THE NEW YORK STATE CHARITIES BUREAU.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ASSETS TRANFERRED WITH DEED IN LIEU OF FORECLOSURE 8,675,773
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
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IRS990/TotalAssetsGrp/EOYAmt090
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt08553000
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IRS990/TotalLiabilitiesGrp/EOYAmt08553000
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0ELMIRA
IRS990/USAddress/StateAbbreviationCd0NY
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN D KEELEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT, DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06077342271
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHERN TIER ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0161475745
ReturnHeader/Filer/PhoneNum06077342271
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O SAYLES EVANS 1 W CHURCH ST
ReturnHeader/Filer/USAddress/CityNm0ELMIRA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014901
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D55620CCD6A63F6ED053C2B6CD8EEE8230CAA793
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DE17495C918211EEEE5BAF64A51F5188861BDC64
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0160760591
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SAYLES & EVANS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01 W CHURCH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ELMIRA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014901
ReturnHeader/PreparerPersonGrp/PhoneNum06077342271
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN E AGAN
ReturnHeader/ReturnTs02017-05-15T09:50:17-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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