Civic Intelligence

Putnam County Economic Development Corporation

990 • Fiscal year 2018 • EIN 16-1513649

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 26, 2019

Organization ProfileWWW.PUTNAMEDC.ORG
40 Gleneida Ave Rm 310Carmel, NY 10512

(845) 808-1021

Siviq Scores

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

Liabilities / Assets

86th percentile

0.29x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

85th percentile

0.19x

Higher debt load relative to revenue than 85% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

32nd percentile

-4.2%

Higher net margin than 32% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Asset Growth

54th percentile

3.8%

Faster asset growth than 54% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

94th percentile

65%

Faster revenue growth than 94% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$132,181

Up $4,838 (+3.8%) from 2017

Net Assets

Down

$93,947

Down $8,442 (-8.2%) from 2017

Liabilities

Up

$38,234

Up $13,280 (+53%) from 2017

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin32nd percentile

Revenue

Up

$199,112

Up $78,706 (+65%) from 2017

Expenses

Up

$207,554

Up $39,447 (+23%) from 2017

Net Income

Up

-$8,442

Up $39,259 (+82%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$400K$300K$200K$100K$0Assets 2010: $145,548Liabilities 2010: $10,708Net Assets 2010: $134,8402010Assets 2011: $136,860Liabilities 2011: $6,468Net Assets 2011: $130,3922011Assets 2012: $117,649Liabilities 2012: $7,810Net Assets 2012: $109,8392012Assets 2013: $116,178Liabilities 2013: $15,531Net Assets 2013: $100,6472013Assets 2014: $140,086Liabilities 2014: $3,595Net Assets 2014: $136,4912014Assets 2015: $231,502Liabilities 2015: $24,606Net Assets 2015: $206,8962015Assets 2016: $180,212Liabilities 2016: $30,122Net Assets 2016: $150,0902016Assets 2017: $127,343Liabilities 2017: $24,954Net Assets 2017: $102,3892017Assets 2018: $132,181Liabilities 2018: $38,234Net Assets 2018: $93,9472018Assets 2019: $222,744Liabilities 2019: $18,314Net Assets 2019: $204,4302019Assets 2020: $279,508Liabilities 2020: $14,640Net Assets 2020: $264,8682020Assets 2021: $306,641Liabilities 2021: $10,937Net Assets 2021: $295,7042021Assets 2022: $344,894Liabilities 2022: $10,968Net Assets 2022: $333,9262022Assets 2023: $382,153Liabilities 2023: $10,844Net Assets 2023: $371,3092023

Highlighted filing

2018

Assets$132,181
Liabilities$38,234
Net Assets$93,947
Open 2018 Filing

Operations Trend

Revenue Growth94th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $172,3892010Expenses 2011: $151,0912011Expenses 2012: $154,4872012Revenue 2013: $186,418Expenses 2013: $195,610Net Income 2013: -$9,1922013Revenue 2014: $207,245Expenses 2014: $171,401Net Income 2014: $35,8442014Revenue 2015: $182,347Expenses 2015: $111,942Net Income 2015: $70,4052015Revenue 2016: $114,968Expenses 2016: $171,774Net Income 2016: -$56,8062016Revenue 2017: $120,406Expenses 2017: $168,107Net Income 2017: -$47,7012017Revenue 2018: $199,112Expenses 2018: $207,554Net Income 2018: -$8,4422018Revenue 2019: $184,541Expenses 2019: $74,739Net Income 2019: $109,8022019Revenue 2020: $180,403Expenses 2020: $119,965Net Income 2020: $60,4382020Revenue 2021: $160,414Expenses 2021: $128,897Net Income 2021: $31,5172021Revenue 2022: $169,005Expenses 2022: $130,783Net Income 2022: $38,2222022Revenue 2023: $175,782Expenses 2023: $138,399Net Income 2023: $37,3832023

Highlighted filing

2018

Revenue$199,112
Expenses$207,554
Net Income-$8,442
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 26, 2019
Return Version
2018v3.1
Gross Receipts
$199,112
Mission and Program Overview

Mission

County-based economic development corporation

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$118,627$117,579▼ $1,048
Pledges and Grants Receivable$8,334$14,583▲ $6,249
Cash and Non-Interest-Bearing Accounts$167--
Land, Buildings, and Equipment, Net$215$19▼ $196
Total Assets$127,343$132,181▲ $4,838
Liabilities
Accounts Payable and Accrued Expenses$17,604$35,734▲ $18,130
Deferred Revenue$7,350$2,500▼ $4,850
Total Liabilities$24,954$38,234▲ $13,280
Net Assets / Fund Balance
Unrestricted Net Assets$102,389$93,947▼ $8,442
Total Net Assets Fund Balance$102,389$93,947▼ $8,442
Total Liabilities and Net Assets / Fund Balance$127,343$132,181▲ $4,838

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$19$25,714-
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Richard WeissChairman
Jill Marie VarricchioPresident
Alana MikhalevskyDirector
Angela BrianteDirector
Cathryn FaddeDirector
Daniel LearyDirector
Jeffrey KellogDirector
Jim BatesDirector
Joseph RobertoDirector
Marjorie KeithDirector
Michael ConroyDirector
Robert ZubryckiDirector
Kathleen AbelsSecretary
Gerald KleinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$186,650
Program Service Revenue
$12,322
Investment Income
$140
Other Revenue
$0
Change in Net Assets
$-8,442

Audited Revenue Reconciliation

Revenue per Audited Statements
$199,112
Total Revenue per Audited Statements
$199,112
Total Revenue per Form 990
$199,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$131,678
Other Expenses$75,876
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$109,557--$109,557
Fees for Services Accounting$3,300$10,693-$13,993
Other Salaries and Wages-$12,359-$12,359
Payroll Taxes$8,774$988-$9,762
All Other Expenses$8,751$558-$9,309
Occupancy$3,151$3,150-$6,301
Other Expenses$4,911--$4,911
Insurance$1,741$1,614-$3,355
Fees for Services Other$2,535--$2,535
Office Expenses$543$724-$1,267
Fees for Services Legal-$1,000-$1,000
Conferences and Meetings$672$152-$824
Travel$398--$398
Advertising$229--$229
Depreciation Depletion$197--$197
Total Functional Expenses$176,316$31,238$0$207,554

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$207,554
Total Expenses per Audited Statements$207,554
Total Expenses per Form 990$207,554
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Gerald Klein JrBank PresidentOrg Has Cd at Bd MemNo-
Joseph RobertoBank PresidentOrg Maintains AcctsNo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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 6

“Members of the business community may purchase memberships to the organization”

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

“Form 990 is provided to the treasurer, who reviews it with the board members.”

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

“All officers and board members receive related party questionnaires each year”

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

“Committee for executive search and compensation review.”

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

“Committee for executive search and compensation review.”

Form 990, Page 6, Part VI, Line 19

“Policies and financial statements are available on organization website”

Filing and Contact Details

Filer

Filer Name
Putnam County Economic Development
EIN
16-1513649
Phone
8458081021
Address
40 GLENEIDA AVE RM 310, CARMEL, NY 10512

Signing Officer

Name
Gerald Klein
Title
Treasurer
Phone
8458081021
Signed
2019-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Marie Varricchio
Formed
1997
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
Employees
2

Preparer

Firm
Arnell Daponte & Company LLC
Address
98 MILL PLAIN RD W, DANBURY, CT 06811
Preparer
Joseph P Daponte
Phone
2037979681
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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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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt025714
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt025733
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IRS990ScheduleD/TotalRevenuePerForm990Amt0199112
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1JOSEPH ROBERTO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BANK PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1BANK PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ORG HAS CD AT BD MEM
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1ORG MAINTAINS ACCTS
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE BUSINESS COMMUNITY MAY PURCHASE MEMBERSHIPS TO THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE TREASURER, WHO REVIEWS IT WITH THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS AND BOARD MEMBERS RECEIVE RELATED PARTY QUESTIONNAIRES EACH YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMMITTEE FOR EXECUTIVE SEARCH AND COMPENSATION REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMMITTEE FOR EXECUTIVE SEARCH AND COMPENSATION REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE ON ORGANIZATION WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0132181
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IRS990/TotalContributionsAmt0186650
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031238
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0176316
IRS990/TotalFunctionalExpensesGrp/TotalAmt0207554
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024954
IRS990/TotalLiabilitiesEOYAmt038234
IRS990/TotalLiabilitiesGrp/BOYAmt024954
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IRS990/TotalProgramServiceExpensesAmt0176316
IRS990/TotalProgramServiceRevenueAmt012322
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt012462
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0132181
IRS990/TravelGrp/ProgramServicesAmt0398
IRS990/TravelGrp/TotalAmt0398
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0102389
IRS990/UnrestrictedNetAssetsGrp/EOYAmt093947
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0CARMEL
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IRS990/USAddress/ZIPCd010512
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IRS990/WebsiteAddressTxt0WWW.PUTNAMEDC.ORG
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GERALD KLEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08458081021
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PUTNAM COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PUTN
ReturnHeader/Filer/EIN0161513649
ReturnHeader/Filer/PhoneNum08458081021
ReturnHeader/Filer/USAddress/AddressLine1Txt040 GLENEIDA AVE RM 310
ReturnHeader/Filer/USAddress/CityNm0CARMEL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010512
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B89D40E2F51C29FBDA726C87544665591FC6DBBD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B89D40E2F51C29FBDA726C87544665591FC6DBBD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.92.44.245
ReturnHeader/FilingSecurityInformation/IPDt02019-09-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:38:45
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204052653
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ARNELL DAPONTE & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt098 MILL PLAIN RD W
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DANBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006811
ReturnHeader/PreparerPersonGrp/PhoneNum02037979681
ReturnHeader/PreparerPersonGrp/PreparationDt02019-08-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH P DAPONTE
ReturnHeader/ReturnTs02019-09-18T08:38:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$132,181
Liabilities
$38,234
Net assets
$93,947
Revenue
$199,112
Expenses
$207,554
Net income
-$8,442
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$3.82$0.11$3.71$1.76$1.38$0.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.45$0.11$3.34$1.69$1.31$0.38
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.11$2.96$1.60$1.29$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.80$0.15$2.65$1.80$1.20$0.60
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$0.18$2.04$1.85$0.75$1.10
2018Detailed filing. Detailed filing data is available for this year.$1.32$0.38$0.94$1.99$2.08$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.27$0.25$1.02$1.20$1.68$0.48
2016Summary only. Only limited summary data is available for this year.$1.80$0.30$1.50$1.15$1.72$0.57
2015Summary only. Only limited summary data is available for this year.$2.32$0.25$2.07$1.82$1.12$0.70
2014Detailed filing. Detailed filing data is available for this year.$1.40$0.04$1.36$2.07$1.71$0.36
2013Detailed filing. Detailed filing data is available for this year.$1.16$0.16$1.01$1.86$1.96$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.08$1.10$1.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.06$1.30$1.51
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.11$1.35$1.72