Civic Intelligence

Nfc Development Corp

EIN 22-2412369 • 501(c)4 • Niagara Falls, NY

Profile

The n.f.c. Development corp.'s mission is to foster business, industrial, and employment retention and development in the city of niagara falls, ny.

745 Main Street PO Box 69 No 17Niagara Falls, NY 14302-0069

www.niagarafallsusa.org

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

59th percentile

0.12x

Higher debt load relative to revenue than 59% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2013

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

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

501(c)4 • $1M-$5M nonprofits • Source year 2013

Asset Growth

26th percentile

-3.0%

Faster asset growth than 26% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

92nd percentile

159%

Faster revenue growth than 92% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets40th percentile

Assets

Down

$1,832,595

Down $56,374 (-3.0%) from 2012

Liabilities

Up

$14,321

Up $8,038 (+128%) from 2012

Net Assets

Down

$1,818,274

Down $64,412 (-3.4%) from 2012

Operations
Liabilities / Revenue59th percentileNet Margin6th percentile

Revenue

Up

$120,985

Up $74,195 (+159%) from 2012

Expenses

Down

$185,397

Down $246,195 (-57%) from 2012

Net Income

Up

-$64,412

Up $320,390 (+83%) from 2012

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,073,833Liabilities 2010: $2,824,232Net Assets 2010: $249,6012010Assets 2011: $2,273,807Liabilities 2011: $6,319Net Assets 2011: $2,267,4882011Assets 2012: $1,888,969Liabilities 2012: $6,283Net Assets 2012: $1,882,6862012Assets 2013: $1,832,595Liabilities 2013: $14,321Net Assets 2013: $1,818,2742013

Highlighted filing

2013

Assets$1,832,595
Liabilities$14,321
Net Assets$1,818,274
Open 2013 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.0M$500K$0-$500KExpenses 2010: $823,0822010Expenses 2011: $762,1612011Revenue 2012: $46,790Expenses 2012: $431,592Net Income 2012: -$384,8022012Revenue 2013: $120,985Expenses 2013: $185,397Net Income 2013: -$64,4122013

Highlighted filing

2013

Revenue$120,985
Expenses$185,397
Net Income-$64,412
Open 2013 Filing

Filings

Most recent year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,832,595
Liabilities
$14,321
Net assets
$1,818,274
Revenue
$120,985
Expenses
$185,397
Net income
-$64,412
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Detailed filing. Detailed filing data is available for this year.$1.83$0.01$1.82$0.12$0.19$0.06
2012Summary only. Only limited summary data is available for this year.$1.89$0.01$1.88$0.05$0.43$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.27$0.01$2.27$0.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$2.82$0.25$0.82
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Mar 17, 2014
Return Version
2013v3.0
Gross Receipts
$120,985
Mission and Program Overview

Mission

The n.f.c. Development corp.'s mission is to foster business, industrial, and employment retention and development in the city of niagara falls, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,455,210$1,449,525▼ $5,685
Other Notes and Loans Receivable, Net$433,759$383,070▼ $50,689
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,888,969$1,832,595▼ $56,374
Liabilities
Accounts Payable and Accrued Expenses$6,283$14,321▲ $8,038
Total Liabilities$6,283$14,321▲ $8,038
Net Assets / Fund Balance
Unrestricted Net Assets$1,882,686$1,818,274▼ $64,412
Total Net Assets Fund Balance$1,882,686$1,818,274▼ $64,412
Total Liabilities and Net Assets / Fund Balance$1,888,969$1,832,595▼ $56,374

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$65,830$65,830
Compensation and Service Providers
Top Officer Pay63rd percentile

Board Members and Trustees

NameTitle
Mayor Paul a DysterChairman
Ms Kristen M GrandinettiVice Chairman
Dr Jacob SmithBoard Member
Mr Chris RobinsBoard Member
Mr Frank RomaBoard Member
Mr Glenn ChoolokianBoard Member
Mr Joseph CasaleBoard Member
Mr Michael HooperBoard Member
Mr Paul PariseBoard Member
Mr Ralph AversaBoard Member
Mr Samuel F FruscioneBoard Member
Mrs Lee WhittakerBoard Member
Ms Anne SawickiBoard Member
Ms Jacqueline HenwoodBoard Member
Ms Janet MarkarianBoard Member
Ms Lucy MutoBoard Member
Ms Robert Anderson JrBoard Member
Mr Doreen OconnorSecretary
Mr Charles WalkerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$93,531
Program Service Revenue
$1,483
Investment Income
$24,029
Other Revenue
$1,942
Change in Net Assets
$-64,412

Audited Revenue Reconciliation

Revenue per Audited Statements
$120,985
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$120,985
Total Revenue per Form 990
$120,985
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$185,397
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 Other$72,410$16,920-$89,330
Other Expenses$19,009--$19,009
Fees for Services Accounting-$7,500-$7,500
Office Expenses$1,638$546-$2,184
Insurance$410$137-$547
Advertising$18$6-$24
Total Functional Expenses$160,288$25,109$0$185,397

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$185,397
Total Expenses per Audited Statements$185,397
Total Expenses per Form 990$185,397
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The form 990 was provided to the organization's governing body at a board meeting and was reviewed by the board members prior to filing the return.”

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

“The organization requires board members and employees to review and sign the conflict of interest policy, and any conflicts are addressed on an as needed basis.”

Form 990, Part VI, Section C, Line 19

“The organization makes their form 1024, 990, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
22-2412369
Phone
7162864340

Signing Officer

Name
Mayor Paul a Dyster
Title
Chairman
Phone
7162864480
Signed
2014-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mayor Paul a Dyster
Formed
1980
Legal Domicile
Ny
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
0

Preparer

Preparer
Randall R Shepard
Phone
7166338885
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants/administrative fees/undesignated services: program service expenses 72,410. Management and general expenses 16,920. Fundraising expenses 0. Total expenses 89,330.”

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IRS990/OfficeExpensesGrp/TotalAmt02184
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0GRANT EXPENSE
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/ProgramServicesAmt066803
IRS990/OtherExpensesGrp/ProgramServicesAmt119009
IRS990/OtherExpensesGrp/TotalAmt066803
IRS990/OtherExpensesGrp/TotalAmt119009
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01942
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01942
IRS990/OtherRevenueTotalAmt01942
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0433759
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0383070
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MAYOR PAUL A DYSTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0ADMINISTRATIVE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01483
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01483
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt025000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt019811
IRS990/PYOtherExpensesAmt0431592
IRS990/PYOtherRevenueAmt029
IRS990/PYProgramServiceRevenueAmt01950
IRS990/PYRevenuesLessExpensesAmt0-384802
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0431592
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt046790
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-64412
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt024588
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt065830
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt065830
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0185397
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0120985
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0185397
IRS990ScheduleD/TotalRevenuePerForm990Amt0120985
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0120985
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0185397
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0377964
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt016
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE MADE UNDER THE MARKET RATE APARTMENT RENTAL REHABILITATION AND SMALL BUSINESS SIGNIFICANT ECONOMIC IMPACT PROGRAMS. THESE GRANTS WERE MADE POSSIBLE WITH INITIAL FUNDING FROM THE CITY OF NIAGARA FALLS. THE GRANTS ARE RECORDED AS AN EXPENSE BY THE CORPORATION WHEN DISBURSED TO THE GRANTEES. THE GRANTEES HAVE EACH EXECUTED PROMISSORY NOTES WITH THE CITY THAT OUTLINE SPECIFIC REPAYMENT REQUIREMENTS IF CERTAIN CRITERIA FOR THE GRANT ARE NOT MET DURING THE GRANT PERIOD. ANY AMOUNTS SUBSEQUENTLY REPAID AS A RESULT OF FAILING TO MEET THE GRANT OBLIGATIONS ARE RECORDED AS GRANT RECOVERY REVENUE IN THE YEAR RECEIVED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY AT A BOARD MEETING AND WAS REVIEWED BY THE BOARD MEMBERS PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES BOARD MEMBERS AND EMPLOYEES TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY, AND ANY CONFLICTS ARE ADDRESSED ON AN AS NEEDED BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES THEIR FORM 1024, 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTANTS/ADMINISTRATIVE FEES/UNDESIGNATED SERVICES: PROGRAM SERVICE EXPENSES 72,410. MANAGEMENT AND GENERAL EXPENSES 16,920. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 89,330.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01888969
IRS990/TotalAssetsEOYAmt01832595
IRS990/TotalAssetsGrp/BOYAmt01888969
IRS990/TotalAssetsGrp/EOYAmt01832595
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt093531
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt025109
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0160288
IRS990/TotalFunctionalExpensesGrp/TotalAmt0185397
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06283
IRS990/TotalLiabilitiesEOYAmt014321
IRS990/TotalLiabilitiesGrp/BOYAmt06283
IRS990/TotalLiabilitiesGrp/EOYAmt014321
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01882686
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01818274
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0160288
IRS990/TotalProgramServiceRevenueAmt01483
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02866
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024588
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0120985
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01888969
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01832595
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01882686
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01818274
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10745 MAIN STREET PO BOX 69 NO 17
IRS990/USAddress/City0NIAGARA FALLS
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode0143020069
IRS990/VotingMembersGoverningBodyCnt019
IRS990/VotingMembersIndependentCnt019
IRS990/WebsiteAddressTxt0WWW.NIAGARAFALLSUSA.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MAYOR PAUL A DYSTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07162864480
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-03-17
ReturnHeader/Filer/BusinessName/BusinessNameLine10NFC DEVELOPMENT CORP
ReturnHeader/Filer/BusinessNameControlTxt0NFCD

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