Civic Intelligence

Regional Economic Development & Energy Corporation

990 • Fiscal year 2019 • EIN 22-2332050

Oct 01, 2018 to Sep 30, 2019 • Filed on Jul 01, 2020

109 Canada Road No 150Painted Post, NY 14870

(607) 962-3021

Siviq Scores

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

Liabilities / Assets

38th percentile

0.08x

Higher debt load relative to assets than 38% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

74th percentile

0.74x

Higher debt load relative to revenue than 74% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Net Margin

97th percentile

84%

Higher net margin than 97% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

45th percentile

$84,765

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 69.6% of source-year revenue.

2019 filings • NTEE S • $1M-$5M nonprofits • Source year 2019

Asset Growth

64th percentile

8.6%

Faster asset growth than 64% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

94th percentile

125%

Faster revenue growth than 94% of similar nonprofits.

2019 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,180,787

Up $93,919 (+8.6%) from 2018

Net Assets

Up

$1,090,532

Up $93,919 (+9.4%) from 2018

Liabilities

Flat

$90,255

Flat from 2018

Revenue

Up

$121,855

Up $67,737 (+125%) from 2018

Expenses

Down

$19,559

Down $102,757 (-84%) from 2018

Net Income

Up

$102,296

Up $170,494 (+250%) from 2018

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,516,574Liabilities 2011: $22,768Net Assets 2011: $1,493,8062011Assets 2012: $1,474,149Liabilities 2012: $27,637Net Assets 2012: $1,446,5122012Assets 2013: $1,441,111Liabilities 2013: $24,689Net Assets 2013: $1,416,4222013Assets 2014: $1,434,449Liabilities 2014: $29,688Net Assets 2014: $1,404,7612014Assets 2015: $1,446,305Liabilities 2015: $32,999Net Assets 2015: $1,413,3062015Assets 2016: $1,006,131Liabilities 2016: $0Net Assets 2016: $1,006,1312016Assets 2017: $1,022,999Liabilities 2017: $0Net Assets 2017: $1,022,9992017Assets 2018: $1,086,868Liabilities 2018: $90,255Net Assets 2018: $996,6132018Assets 2019: $1,180,787Liabilities 2019: $90,255Net Assets 2019: $1,090,5322019Assets 2020: $1,853,161Liabilities 2020: $477,783Net Assets 2020: $1,375,3782020Assets 2021: $2,380,425Liabilities 2021: $309,500Net Assets 2021: $2,070,9252021Assets 2022: $2,213,381Liabilities 2022: $205,483Net Assets 2022: $2,007,8982022Assets 2023: $2,228,032Liabilities 2023: $120,832Net Assets 2023: $2,107,2002023Assets 2024: $2,388,103Liabilities 2024: $294,706Net Assets 2024: $2,093,3972024

Highlighted filing

2019

Assets$1,180,787
Liabilities$90,255
Net Assets$1,090,532

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $68,447Expenses 2011: $97,075Net Income 2011: -$28,6282011Revenue 2012: $68,715Expenses 2012: $116,009Net Income 2012: -$47,2942012Revenue 2013: $53,819Expenses 2013: $83,909Net Income 2013: -$30,0902013Revenue 2014: $57,270Expenses 2014: $93,931Net Income 2014: -$36,6612014Revenue 2015: $50,918Expenses 2015: $68,622Net Income 2015: -$17,7042015Revenue 2016: $49,023Expenses 2016: $183,949Net Income 2016: -$134,9262016Revenue 2017: $85,367Expenses 2017: $54,776Net Income 2017: $30,5912017Revenue 2018: $54,118Expenses 2018: $122,316Net Income 2018: -$68,1982018Revenue 2019: $121,855Expenses 2019: $19,559Net Income 2019: $102,2962019Revenue 2020: $415,646Expenses 2020: $122,566Net Income 2020: $293,0802020Revenue 2021: $778,102Expenses 2021: $62,074Net Income 2021: $716,0282021Revenue 2022: $92,142Expenses 2022: $154,471Net Income 2022: -$62,3292022Revenue 2023: $139,542Expenses 2023: $42,700Net Income 2023: $96,8422023Revenue 2024: $60,050Expenses 2024: $88,102Net Income 2024: -$28,0522024

Highlighted filing

2019

Revenue$121,855
Expenses$19,559
Net Income$102,296
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jul 1, 2020
Return Version
2018v3.2
Gross Receipts
$121,855
Mission and Program Overview

Mission

The mission of the organization is to provide economic development lending capability for businesses in chemung, schuyler and steuben counties, which fully responds to the needs of the region and the objectives of the corporation.

To provide economic development lending capability for businesses in chemung, schuyler and steuben counties, which fully responds to the needs of the region and the objectives of the corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$925,212$818,573▼ $106,639
Savings and Temporary Cash Investments$64,425$171,951▲ $107,526
Cash and Non-Interest-Bearing Accounts$25,396$107,023▲ $81,627
Total Assets$1,086,868$1,180,787▲ $93,919
Other Assets Total$71,835$83,240▲ $11,405
Liabilities
Accounts Payable and Accrued Expenses$90,255$90,255→ $0
Total Liabilities$90,255$90,255→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$996,613$1,090,532▲ $93,919
Total Net Assets Fund Balance$996,613$1,090,532▲ $93,919
Total Liabilities and Net Assets / Fund Balance$1,086,868$1,180,787▲ $93,919

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$83,240--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
George MinerPresidentPT$80,280$4,485$84,765

Board Members and Trustees

NameTitle
Christopher BrewerChair
Scott BloorVice Chair
Arthur SableDirector
Betsey HaleDirector
Blaine MinorDirector
Chelsea RobertsonDirector
Christopher ColettaDirector
Christopher GiammicheleDirector
Dawn BurlewDirector
Doug HaginDirector
James GriffinDirector
Jamie JohnsonDirector
Joseph RomanDirector
Judy Mckinney CherryDirector
Justin DildineDirector
Mark RyckmanDirector
Michael J ManzariDirector
Nancy KirbyDirector
Richard NilesDirector
Sandy CrawfordDirector
Valerie SlaghtDirector
Zachary KnappDirector
Katie LilleyDirector (part Year)
Marcia WeberDirector (part Year)
Robert PichetteDirector (part Year)
Jill KoskiSecretary
Brian WarnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$58,583
Investment Income
$0
Other Revenue
$63,272
Change in Net Assets
$102,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,219
Salaries, Compensation, and Employee Benefits$7,340
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$7,340--$7,340
Other Expenses$-15--$-15
Total Functional Expenses$19,559$0$0$19,559
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Copies of form 990 are distributed to board members prior to filing for formal board member review.

Form 990, Part VI, Section B, Line 12C

Signed statements are reviewed annually and any deemed conflict is reviewed with legal counsel.

Form 990, Part VI, Section B, Line 15

The executive committee determines the compensation for the executive director. Generally, a performance evaluation is conducted with the results sent to the president of the board who then discusses the results with the committee, who then advise the board.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Regional Economic Development and Energy
EIN
22-2332050
Phone
6079623021
Address
109 CANADA ROAD NO 150, PAINTED POST, NY 14870

Signing Officer

Name
George E Miner
Title
President
Phone
6079623021
Signed
2020-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George E Miner
Formed
1980
Legal Domicile
Ny
Voting Board Members
24
Independent Board Members
24
Employees
3
Volunteers
27

Preparer

Firm
Insero & Co Cpas Llp
Address
401 E STATE STREET SUITE 500, ITHACA, NY 14850
Preparer
D Leslie Spurgin
Phone
6072724444
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfer from management and general -8,377.

Form 990, Page 12, Part XII, Line 2C

The process for audit oversight and auditor selection has not changed from the prior year.

Raw XML AppendixShowing 400 of 541 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.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2780280
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt260
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt270
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR (PART YEAR)
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR (PART YEAR)
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR (PART YEAR)
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01980
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt024
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0121855
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF THE ORGANIZATION IS TO PROVIDE ECONOMIC DEVELOPMENT LENDING CAPABILITY FOR BUSINESSES IN CHEMUNG, SCHUYLER AND STEUBEN COUNTIES, WHICH FULLY RESPONDS TO THE NEEDS OF THE REGION AND THE OBJECTIVES OF THE CORPORATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0996613
IRS990/NetAssetsOrFundBalancesEOYAmt01090532
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt071835
IRS990/OtherAssetsTotalGrp/EOYAmt083240
IRS990/OtherChangesInNetAssetsAmt0-8377
IRS990/OtherExpensesGrp/Desc0ALLOCATION OF COSTS
IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/ProgramServicesAmt012234
IRS990/OtherExpensesGrp/ProgramServicesAmt1-15
IRS990/OtherExpensesGrp/TotalAmt012234
IRS990/OtherExpensesGrp/TotalAmt1-15
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0COLLECTION ON BAD DEBT
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt063272
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt063272
IRS990/OtherRevenueTotalAmt063272
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0925212
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0818573
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0GEORGE E MINER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST & FEES ON LOA
IRS990/ProgramServiceRevenueGrp/Desc1LATE FEES & ADMINISTRA
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt058332
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1251
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt058332
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1251
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0189
IRS990/PYOtherExpensesAmt0114008
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt053929
IRS990/PYRevenuesLessExpensesAmt0-68198
IRS990/PYSalariesCompEmpBnftPaidAmt08308
IRS990/PYTotalExpensesAmt0122316
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt054118
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0102296
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0121855
IRS990/SavingsAndTempCashInvstGrp/BOYAmt064425
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM OTHER FUNDS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt083240
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.39$0.29$2.09$0.06$0.09$0.03
2023Detailed filing. Detailed filing data is available for this year.$2.23$0.12$2.11$0.14$0.04$0.10
2022Detailed filing. Detailed filing data is available for this year.$2.21$0.21$2.01$0.09$0.15$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.38$0.31$2.07$0.78$0.06$0.72
2020Detailed filing. Detailed filing data is available for this year.$1.85$0.48$1.38$0.42$0.12$0.29
2019Detailed filing. Detailed filing data is available for this year.$1.18$0.09$1.09$0.12$0.02$0.10
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.09$1.00$0.05$0.12$0.07
2017Summary only. Only limited summary data is available for this year.$1.02$0.00$1.02$0.09$0.05$0.03
2016Summary only. Only limited summary data is available for this year.$1.01$0.00$1.01$0.05$0.18$0.13
2015Summary only. Only limited summary data is available for this year.$1.45$0.03$1.41$0.05$0.07$0.02
2014Summary only. Only limited summary data is available for this year.$1.43$0.03$1.40$0.06$0.09$0.04
2013Summary only. Only limited summary data is available for this year.$1.44$0.02$1.42$0.05$0.08$0.03
2012Summary only. Only limited summary data is available for this year.$1.47$0.03$1.45$0.07$0.12$0.05
2011Summary only. Only limited summary data is available for this year.$1.52$0.02$1.49$0.07$0.10$0.03