Civic Intelligence

Praxis Corporation

EIN 22-3256823 • 501(c)8 • Utica, NY

Profile

Praxis corporation is a title holding company whose sole purpose is to hold property, collect the associated income, and remit the income (less expenses) to munson williams proctor arts institute, a 501(c)(3) organization.

310 Genesee StreetUtica, NY 13502

n/A

Siviq Scores

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

Liabilities / Assets

91st percentile

0.34x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)8 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

501(c)8 • <$500k nonprofits • Source year 2024

Top Officer Pay

100th percentile

$140,935

Higher top officer pay than 100% of similar nonprofits.

501(c)8 • <$500k nonprofits • Source year 2024

Asset Growth

67th percentile

5.3%

Faster asset growth than 67% of similar nonprofits.

501(c)8 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

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

Annualized from 2023 to 2024

Assets

Up

$224,663

Up $11,357 (+5.3%) from 2023

Liabilities

Up

$76,428

Up $3,754 (+5.2%) from 2023

Net Assets

Up

$148,235

Up $7,603 (+5.4%) from 2023

Revenue

Up

-$2,397

Up $2,597 (+52%) from 2023

Expenses

Flat

$0

Flat from 2023

Net Income

Up

-$2,397

Up $2,597 (+52%) from 2023

Trend Graphs

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $462,797Liabilities 2011: $101,566Net Assets 2011: $361,2312011Assets 2012: $431,327Liabilities 2012: $105,317Net Assets 2012: $326,0102012Assets 2013: $404,109Liabilities 2013: $106,820Net Assets 2013: $297,2892013Assets 2014: $364,050Liabilities 2014: $110,411Net Assets 2014: $253,6392014Assets 2015: $490,626Liabilities 2015: $94,026Net Assets 2015: $396,6002015Assets 2016: $464,560Liabilities 2016: $97,807Net Assets 2016: $366,7532016Assets 2017: $452,687Liabilities 2017: $107,788Net Assets 2017: $344,8992017Assets 2018: $232,387Liabilities 2018: $74,817Net Assets 2018: $157,5702018Assets 2020: $193,309Liabilities 2020: $65,516Net Assets 2020: $127,7932020Assets 2021: $199,257Liabilities 2021: $65,610Net Assets 2021: $133,6472021Assets 2022: $205,614Liabilities 2022: $69,988Net Assets 2022: $135,6262022Assets 2023: $213,306Liabilities 2023: $72,674Net Assets 2023: $140,6322023Assets 2024: $224,663Liabilities 2024: $76,428Net Assets 2024: $148,2352024

Highlighted filing

2024

Assets$224,663
Liabilities$76,428
Net Assets$148,235

Operations Trend

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

$50K$0-$50K-$100KRevenue 2011: $9,473Expenses 2011: $0Net Income 2011: $9,4732011Revenue 2012: $14,779Expenses 2012: $0Net Income 2012: $14,7792012Revenue 2013: $1,279Expenses 2013: $0Net Income 2013: $1,2792013Revenue 2014: $24,571Expenses 2014: $0Net Income 2014: $24,5712014Revenue 2015: -$1,787Expenses 2015: $0Net Income 2015: -$1,7872015Revenue 2016: -$40,005Expenses 2016: $0Net Income 2016: -$40,0052016Revenue 2017: -$39,052Expenses 2017: $0Net Income 2017: -$39,0522017Revenue 2018: -$30,156Expenses 2018: $0Net Income 2018: -$30,1562018Revenue 2020: -$47,404Expenses 2020: $0Net Income 2020: -$47,4042020Revenue 2021: -$24,902Expenses 2021: $0Net Income 2021: -$24,9022021Revenue 2022: -$57,900Expenses 2022: $0Net Income 2022: -$57,9002022Revenue 2023: -$4,994Expenses 2023: $0Net Income 2023: -$4,9942023Revenue 2024: -$2,397Expenses 2024: $0Net Income 2024: -$2,3972024

Highlighted filing

2024

Revenue-$2,397
Expenses$0
Net Income-$2,397

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$44,236
Mission and Program Overview

Mission

Praxis corporation is a title holding company whose sole purpose is to hold property, collect the associated income, and remit the income (less expenses) to munson williams proctor arts institute, a 501(c)(3) organization.

Praxis corporation is a title holding company whose sole purpose is to hold titles to property, collect the associated income, and remit the income (less expenses) to munson williams proctor arts institute, a 501(c)(3) organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$701,684$701,684→ $0
Land, Buildings, and Equipment, Net$205,646$203,165▼ $2,481
Cash and Non-Interest-Bearing Accounts$7,635$21,473▲ $13,838
Accounts Receivable$25$25→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-561,052$-553,449▲ $7,603
Total Assets$213,306$224,663▲ $11,357
Liabilities
Other Liabilities$71,707$75,580▲ $3,873
Accounts Payable and Accrued Expenses$967$848▼ $119
Total Liabilities$72,674$76,428▲ $3,754
Net Assets / Fund Balance
Total Net Assets Fund Balance$140,632$148,235▲ $7,603
Total Liabilities and Net Assets / Fund Balance$213,306$224,663▲ $11,357

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$167,163$147,449$314,612
Land$36,000-$36,000
Other Land Buildings$2$8,724$8,726
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lisa WalchuskyTreasurer$140,935$140,935

Board Members and Trustees

NameTitle
Fx Matt IiiPresident
Chris HeilmannVice President
Dietra HarveySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-2,397
Change in Net Assets
$-2,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Asset Retirement Obligation$64,467
Security Deposits Held$11,113
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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

The form 990 will be reviewed by the president of the organization and presented to the full governing board prior to filing.

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

Members of the governing board complete a conflict of interest disclosure form annually. Any conflicts are reviewed and acted upon by the board of trustees in accordance with the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

The compensation of the organization's key employees is paid by the munson williams proctor arts institute, a related party, and determined through the use of compensation consultants, industry surveys, search firms, and other sources.

Form 990, Part VI, Section C, Line 19

The organization's form 990 is made available upon request.

Filing and Contact Details

Filer

Filer Name
Praxis Corporation
EIN
22-3256823
Phone
3157970000
Address
310 GENESEE STREET, UTICA, NY 13502

Signing Officer

Name
Lisa Walchusky
Title
Treasurer
Phone
3157970000
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Walchusky
Formed
1992
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Grossman St Amour Cpas Pllc
Address
110 WEST FAYETTE STREET SUITE 900, SYRACUSE, NY 13202
Preparer
Linda Gabor CPA
Phone
3154241120
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Capital contribution 10,000.

Form 990, Part XII, Line 2C

The organization's review process for the audited financial statements has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Praxis is exempt from income taxes under section 501(c)(3) of the internal revenue code and therefore has made no provision for federal income taxes in the accompanying financial statements. In addition, praxis has been determined by the internal revenue service not to be a "private foundation" within the meaning of section 509(a) of the internal revenue code. Accounting standards requiree that a tax position be recognized or derecognized based on a more likely than not threshold. This applies to positions taken or expected to be taken in a tax return, including maintenance of tax-exempt status. Praxis does not believe its financial statements include any uncertain tax positions. Its tax returns are subject to examination by taxing authorities, generally for a period of three years from the date they are filed.

Raw XML Appendix331 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PRAXIS IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN ADDITION, PRAXIS HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. ACCOUNTING STANDARDS REQUIREE THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE LIKELY THAN NOT THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING MAINTENANCE OF TAX-EXEMPT STATUS. PRAXIS DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. ITS TAX RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WILL BE REVIEWED BY THE PRESIDENT OF THE ORGANIZATION AND PRESENTED TO THE FULL GOVERNING BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE GOVERNING BOARD COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. ANY CONFLICTS ARE REVIEWED AND ACTED UPON BY THE BOARD OF TRUSTEES IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE ORGANIZATION'S KEY EMPLOYEES IS PAID BY THE MUNSON WILLIAMS PROCTOR ARTS INSTITUTE, A RELATED PARTY, AND DETERMINED THROUGH THE USE OF COMPENSATION CONSULTANTS, INDUSTRY SURVEYS, SEARCH FIRMS, AND OTHER SOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL CONTRIBUTION 10,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S REVIEW PROCESS FOR THE AUDITED FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA WALCHUSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03157970000
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRAXIS CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PRAX
ReturnHeader/Filer/EIN0223256823
ReturnHeader/Filer/PhoneNum03157970000
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460475780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GROSSMAN ST AMOUR CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0110 WEST FAYETTE STREET SUITE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SYRACUSE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013202
ReturnHeader/PreparerPersonGrp/PhoneNum03154241120
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LINDA GABOR CPA
ReturnHeader/ReturnTs02025-05-14T10:20:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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