Civic Intelligence

Chemung County Economic Development Inc

990 • Fiscal year 2023 • EIN 16-1598005

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 30, 2024

Organization ProfileN/A
400 East Church StreetElmira, NY 14901

(607) 733-6513

Siviq Scores

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

Liabilities / Assets

98th percentile

1.76x

Higher debt load relative to assets than 98% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

19.24x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Net Margin

87th percentile

41%

Higher net margin than 87% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Asset Growth

28th percentile

-3.8%

Faster asset growth than 28% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

0.0%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$1,128,136

Down $44,938 (-3.8%) from 2022

Net Assets

Up

-$853,818

Up $41,876 (+4.7%) from 2022

Liabilities

Down

$1,981,954

Down $86,814 (-4.2%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin87th percentile

Revenue

Flat

$103,000

Flat from 2022

Expenses

Down

$61,125

Down $2,057 (-3.3%) from 2022

Net Income

Up

$41,875

Up $2,057 (+5.2%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $200,883Liabilities 2011: $5,5122011Assets 2012: $200,422Liabilities 2012: $5,512Net Assets 2012: $194,9102012Assets 2013: $2,295Liabilities 2013: $7,512Net Assets 2013: -$5,2172013Assets 2016: $2,452,796Liabilities 2016: $2,455,674Net Assets 2016: -$2,8782016Assets 2017: $2,419,469Liabilities 2017: $2,408,557Net Assets 2017: $10,9122017Assets 2018: $2,379,346Liabilities 2018: $2,358,252Net Assets 2018: $21,0942018Assets 2019: $2,342,486Liabilities 2019: $2,304,471Net Assets 2019: $38,0152019Assets 2020: $1,256,497Liabilities 2020: $2,229,828Net Assets 2020: -$973,3312020Assets 2021: $1,215,826Liabilities 2021: $2,151,337Net Assets 2021: -$935,5112021Assets 2022: $1,173,074Liabilities 2022: $2,068,768Net Assets 2022: -$895,6942022Assets 2023: $1,128,136Liabilities 2023: $1,981,954Net Assets 2023: -$853,8182023Assets 2024: $1,080,897Liabilities 2024: $1,895,807Net Assets 2024: -$814,9102024

Highlighted filing

2023

Assets$1,128,136
Liabilities$1,981,954
Net Assets-$853,818
Open 2023 Filing

Operations Trend

Revenue Growth38th percentile

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

$500K$0-$500K-$1.0M-$1.5MRevenue 2011: $0Expenses 2011: $1,963Net Income 2011: -$1,9632011Expenses 2012: $4612012Revenue 2013: -$199,537Expenses 2013: $590Net Income 2013: -$200,1272013Revenue 2016: $85,649Expenses 2016: $73,650Net Income 2016: $11,9992016Revenue 2017: $85,649Expenses 2017: $71,859Net Income 2017: $13,7902017Revenue 2018: $85,649Expenses 2018: $75,468Net Income 2018: $10,1812018Revenue 2019: $85,649Expenses 2019: $68,728Net Income 2019: $16,9212019Revenue 2020: -$944,298Expenses 2020: $67,048Net Income 2020: -$1,011,3462020Revenue 2021: $103,000Expenses 2021: $65,179Net Income 2021: $37,8212021Revenue 2022: $103,000Expenses 2022: $63,182Net Income 2022: $39,8182022Revenue 2023: $103,000Expenses 2023: $61,125Net Income 2023: $41,8752023Revenue 2024: $103,000Expenses 2024: $64,092Net Income 2024: $38,9082024

Highlighted filing

2023

Revenue$103,000
Expenses$61,125
Net Income$41,875
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 30, 2024
Return Version
2023v5.0
Gross Receipts
$103,000
Mission and Program Overview

Mission

To relieve and reduce unemployment, to promote and to provide for additional and maximum employment, to better and maintain job opportunities, and lessen the burdens of government and act in the public interest, thus performing as essential government function.

To relieve and reduce unemployment, to promote and provide for additional and maximum employment, to better and maintain job opportunities, and lessen the burdens of government and act in the public interest, thus performing an essential government function.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$-895,694$-853,818▲ $41,876
Other Assets Total$1,173,074$1,128,136▼ $44,938
Total Assets$1,173,074$1,128,136▼ $44,938
Liabilities
Other Liabilities$2,068,768$1,981,954▼ $86,814
Total Liabilities$2,068,768$1,981,954▼ $86,814
Net Assets / Fund Balance
Total Net Assets Fund Balance$-895,694$-853,818▲ $41,876
Total Liabilities and Net Assets / Fund Balance$1,173,074$1,128,136▼ $44,938

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,128,136--
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Van Den Blink Arie JPresident
Booth Iii JohnDirector
Collins MichaelDirector
Cook ScottDirector
Edger JodiDirector
Hayden CarlDirector
Jennifer Herrick-mcgonigalDirector
Locker Dr RobertDirector
Moss ChristopherDirector
Roman JospehDirector
Winner GeorgeDirector
Beecher WilliamSecretary
Gensel JamesVP / Treasur
Revenue and Support

Revenue Composition

Contributions and Grants
$103,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$41,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$61,125
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
Interest-$61,125-$61,125
Total Functional Expenses$0$61,125$0$61,125
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable-cctc$1,187,111
Deferred Income$781,120
Accrued Interest$13,723
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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

“Board reviews and approves 990 prior to being submitted.”

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

“On an annual basis each member of the board of directors is required to sign a conflict of interest disclosure statement.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Twin Tiers Economic Developmentinc
EIN
16-1598005
Phone
6077336513
Address
400 EAST CHURCH STREET, ELMIRA, NY 14901

Signing Officer

Name
Van Den Blink Arie J
Title
President
Phone
6077336513
Signed
2024-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Van Den Blink Arie J
Formed
2000
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
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

“To relieve and reduce unemployment, to promote and to provide for additional and maximum employment, to better and maintain job opportunities, and lessen the burdens of government and act in the public interest, thus performing as essential government function.”

Form 990, Part XI, Line 9

“ROUNDING ADJUSTMENT 1”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO RELIEVE AND REDUCE UNEMPLOYMENT, TO PROMOTE AND TO PROVIDE FOR ADDITIONAL AND MAXIMUM EMPLOYMENT, TO BETTER AND MAINTAIN JOB OPPORTUNITIES, AND LESSEN THE BURDENS OF GOVERNMENT AND ACT IN THE PUBLIC INTEREST, THUS PERFORMING AS ESSENTIAL GOVERNMENT FUNCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS AND APPROVES 990 PRIOR TO BEING SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ON AN ANNUAL BASIS EACH MEMBER OF THE BOARD OF DIRECTORS IS REQUIRED TO SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING ADJUSTMENT 1
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
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalAssetsEOYAmt01128136
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IRS990/TotalAssetsGrp/EOYAmt01128136
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt061125
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02068768
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0103000
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01173074
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IRS990/USAddress/CityNm0ELMIRA
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IRS990/USAddress/ZIPCd014901
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VAN DEN BLINK ARIE J
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06077336513
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TWIN TIERS ECONOMIC DEVELOPMENTINC
ReturnHeader/Filer/BusinessNameControlTxt0TWIN
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ELMIRA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014901
ReturnHeader/PreparerPersonGrp/PhoneNum06077342271
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN E AGAN
ReturnHeader/ReturnTs02024-11-04T10:19:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,128,136
Liabilities
$1,981,954
Net assets
-$853,818
Revenue
$103,000
Expenses
$61,125
Net income
$41,875
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.08$1.90$0.81$0.10$0.06$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.13$1.98$0.85$0.10$0.06$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.17$2.07$0.90$0.10$0.06$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.22$2.15$0.94$0.10$0.07$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.26$2.23$0.97$0.94$0.07$1.01
2019Detailed filing. Detailed filing data is available for this year.$2.34$2.30$0.04$0.09$0.07$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.38$2.36$0.02$0.09$0.08$0.01
2017Summary only. Only limited summary data is available for this year.$2.42$2.41$0.01$0.09$0.07$0.01
2016Summary only. Only limited summary data is available for this year.$2.45$2.46$0.00$0.09$0.07$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.00$0.01$0.01$0.20$0.00$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.01$0.19$0.00
2011Summary only. Only limited summary data is available for this year.$0.20$0.01$0.00$0.00$0.00