Civic Intelligence

Luther Forest Technology Campus Economic Development Corporation

990 • Fiscal year 2018 • EIN 20-1263893

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 01, 2019

Organization ProfileLUTHERFOREST.ORG

View Organization Page

519 BroadwaySaratoga Springs, NY 12866

(518) 587-4500

Siviq Scores

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

Liabilities / Assets

80th percentile

0.64x

Higher debt load relative to assets than 80% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2018

Net Margin

100th percentile

131%

Higher net margin than 100% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

10th percentile

-9.7%

Faster asset growth than 10% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

Score unavailable

No value available

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

Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$17,679,127

Down $1,897,939 (-9.7%) from 2017

Net Assets

Down

$6,313,244

Down $1,563,232 (-20%) from 2017

Liabilities

Down

$11,365,883

Down $334,707 (-2.9%) from 2017

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$1,196,490

Down $2,374,230 (-202%) from 2017

Expenses

Down

$366,742

Down $21,673 (-5.6%) from 2017

Net Income

Down

-$1,563,232

Down $2,352,557 (-298%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$80M$60M$40M$20M$0Assets 2010: $63,176,779Liabilities 2010: $29,944,539Net Assets 2010: $33,232,2402010Assets 2011: $29,560,654Liabilities 2011: $18,230,145Net Assets 2011: $11,330,5092011Assets 2012: $27,685,679Liabilities 2012: $17,439,348Net Assets 2012: $10,246,3312012Assets 2013: $21,730,571Liabilities 2013: $17,252,456Net Assets 2013: $4,478,1152013Assets 2014: $21,307,982Liabilities 2014: $17,805,568Net Assets 2014: $3,502,4142014Assets 2015: $20,537,815Liabilities 2015: $17,422,659Net Assets 2015: $3,115,1562015Assets 2016: $20,095,131Liabilities 2016: $13,007,980Net Assets 2016: $7,087,1512016Assets 2017: $19,577,066Liabilities 2017: $11,700,590Net Assets 2017: $7,876,4762017Assets 2018: $17,679,127Liabilities 2018: $11,365,883Net Assets 2018: $6,313,2442018Assets 2019: $17,636,116Liabilities 2019: $11,428,686Net Assets 2019: $6,207,4302019Assets 2020: $17,461,739Liabilities 2020: $11,402,865Net Assets 2020: $6,058,8742020

Highlighted filing

2018

Assets$17,679,127
Liabilities$11,365,883
Net Assets$6,313,244
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MExpenses 2010: $21,636,9962010Expenses 2011: $26,102,0712011Revenue 2012: $3,989,808Expenses 2012: $5,073,986Net Income 2012: -$1,084,1782012Revenue 2013: $42,343Expenses 2013: $5,810,559Net Income 2013: -$5,768,2162013Revenue 2014: $156,872Expenses 2014: $1,132,573Net Income 2014: -$975,7012014Revenue 2015: $660,603Expenses 2015: $1,047,861Net Income 2015: -$387,2582015Revenue 2016: $4,545,305Expenses 2016: $573,310Net Income 2016: $3,971,9952016Revenue 2017: $1,177,740Expenses 2017: $388,415Net Income 2017: $789,3252017Revenue 2018: -$1,196,490Expenses 2018: $366,742Net Income 2018: -$1,563,2322018Revenue 2019: $149,318Expenses 2019: $301,526Net Income 2019: -$152,2082019Revenue 2020: $174,322Expenses 2020: $294,745Net Income 2020: -$120,4232020

Highlighted filing

2018

Revenue-$1,196,490
Expenses$366,742
Net Income-$1,563,232
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 1, 2019
Return Version
2018v3.1
Gross Receipts
$696,937
Mission and Program Overview

Mission

Luther forest technology campus economic development corporation encourages the location and expansion of the nanotechnology and other industries and the creation of job opportunities in saratoga county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,482,342$17,559,035▼ $1,923,307
Prepaid Expenses and Deferred Charges$37,953$50,505▲ $12,552
Cash and Non-Interest-Bearing Accounts$14,960$44,224▲ $29,264
Total Assets$19,577,066$17,679,127▼ $1,897,939
Other Assets Total$41,811$25,363▼ $16,448
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,229,497$10,229,497→ $0
Other Liabilities$1,236,799$1,054,681▼ $182,118
Accounts Payable and Accrued Expenses$234,294$81,705▼ $152,589
Total Liabilities$11,700,590$11,365,883▼ $334,707
Net Assets / Fund Balance
Unrestricted Net Assets$7,876,476$6,313,244▼ $1,563,232
Total Net Assets Fund Balance$7,876,476$6,313,244▼ $1,563,232
Total Liabilities and Net Assets / Fund Balance$19,577,066$17,679,127▼ $1,897,939

Asset Categories

AssetBook ValueDepreciationBasis
Land$17,244,703-$17,244,703
Buildings$277,667$131,526$409,193
Other Land Buildings$36,665$147,255$183,920
Equipment-$930$930
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Tom RoohanChairman
Cliff VanwagnerVice Chairma
Bob BurdickMember
Dave WallingfordMember
N Robert HayesMember
Joseph W Dalton JrSecretary
Rick DunnTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Amanus Consulting GroupConsulting3 MCLAUREN STREET, Saratoga Spring, NY 12866$102,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-1,588,427
Other Revenue
$391,937
Change in Net Assets
$-1,563,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$366,742
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 Management$105,632--$105,632
Depreciation Depletion$46,356--$46,356
Insurance$31,412$2,546-$33,958
Fees for Services Accounting-$10,233-$10,233
Fees for Services Legal-$4,879-$4,879
Interest-$3,714-$3,714
Office Expenses-$290-$290
Other Expenses$11,226$275-$275
Fees for Services Other$50--$50
Total Functional Expenses$344,805$21,937$0$366,742
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
Asset Retirement Obligation$979,799
Deposits$65,000
Prepaid Rents$9,882
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
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Amanus consulting group performed financial services and management activities that are normally conducted by an officer of the corporaton on a daily basis.”

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

“Treasurer reviews form 990 before filing.”

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

“The conflict of interest is signed by all board members”

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

“The board of directors approved an employment agreement between the organization and the top management.”

Form 990, Page 6, Part VI, Line 19

“The organization's financial statements are available to the public, on request, for inspection at the office of the organization between the hours of 9 am and 5 pm. The form 990 can be found on the guide star website.”

Filing and Contact Details

Filer

Filer Name
Luther Forest Technology Campus
EIN
20-1263893
Phone
5185874500
Address
519 BROADWAY, SARATOGA SPRINGS, NY 12866

Signing Officer

Name
Tom Roohan
Title
Chairman
Phone
5185874500
Signed
2019-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Roohan
Formed
2004
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Fredette Sankowski & Company
Address
25 WALTON ST, SARATOGA SPRINGS, NY 12866-2013
Preparer
Jillian M Woodcock
Phone
5185834166
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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/OtherLiabilitiesOrgGrp/Amt165000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29882
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ASSET RETIREMENT OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID RENTS
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IRS990ScheduleD/TotalLiabilityAmt01054681
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TREASURER REVIEWS FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST IS SIGNED BY ALL BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS APPROVED AN EMPLOYMENT AGREEMENT BETWEEN THE ORGANIZATION AND THE TOP MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC, ON REQUEST, FOR INSPECTION AT THE OFFICE OF THE ORGANIZATION BETWEEN THE HOURS OF 9 AM AND 5 PM. THE FORM 990 CAN BE FOUND ON THE GUIDE STAR WEBSITE.
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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 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0344805
IRS990/TotalFunctionalExpensesGrp/TotalAmt0366742
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt011700590
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUTHER FOREST TECHNOLOGY CAMPUS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ECONOMIC DEVELOPMENT CORPORATION
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ReturnHeader/Filer/PhoneNum05185874500
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ReturnHeader/FilingSecurityInformation/IPTm009:54:27
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FREDETTE SANKOWSKI & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt025 WALTON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SARATOGA SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILLIAN M WOODCOCK
ReturnHeader/ReturnTs02019-11-11T09:54:27-06:00
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
$17,679,127
Liabilities
$11,365,883
Net assets
$6,313,244
Revenue
-$1,196,490
Expenses
$366,742
Net income
-$1,563,232
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.5$11.4$6.06$0.17$0.29$0.12
2019Summary only. Only limited summary data is available for this year.$17.6$11.4$6.21$0.15$0.30$0.15
2018Detailed filing. Detailed filing data is available for this year.$17.7$11.4$6.31$1.20$0.37$1.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$11.7$7.88$1.18$0.39$0.79
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$13.0$7.09$4.55$0.57$3.97
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.5$17.4$3.12$0.66$1.05$0.39
2014Detailed filing. Detailed filing data is available for this year.$21.3$17.8$3.50$0.16$1.13$0.98
2013Detailed filing. Detailed filing data is available for this year.$21.7$17.3$4.48$0.04$5.81$5.77
2012Summary only. Only limited summary data is available for this year.$27.7$17.4$10.2$3.99$5.07$1.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.6$18.2$11.3$26.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$63.2$29.9$33.2$21.6