Civic Intelligence

Historic Ithaca Inc.

990 • Fiscal year 2023 • EIN 23-7051773

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 23, 2024

210-212 Center StreetIthaca, NY 14850

(607) 273-6633

Siviq Scores

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

Liabilities / Assets

81st percentile

0.30x

Higher debt load relative to assets than 81% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

81st percentile

0.28x

Higher debt load relative to revenue than 81% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

85th percentile

36%

Higher net margin than 85% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

74th percentile

$65,998

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 8.9% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

93rd percentile

94%

Faster asset growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

77%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$692,498

Up $335,797 (+94%) from 2022

Net Assets

Up

$481,421

Up $264,477 (+122%) from 2022

Liabilities

Up

$211,077

Up $71,320 (+51%) from 2022

Revenue

Up

$743,150

Up $322,221 (+77%) from 2022

Expenses

Up

$478,673

Up $53,740 (+13%) from 2022

Net Income

Up

$264,477

Up $268,481 (+6705%) from 2022

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2012: $277,494Liabilities 2012: $136,615Net Assets 2012: $140,8792012Assets 2014: $300,045Liabilities 2014: $115,344Net Assets 2014: $184,7012014Assets 2015: $327,984Liabilities 2015: $110,006Net Assets 2015: $217,9782015Assets 2016: $304,533Liabilities 2016: $132,774Net Assets 2016: $171,7592016Assets 2017: $310,773Liabilities 2017: $127,592Net Assets 2017: $183,1812017Assets 2018: $270,998Liabilities 2018: $131,825Net Assets 2018: $139,1732018Assets 2019: $262,239Liabilities 2019: $92,495Net Assets 2019: $169,7442019Assets 2020: $454,839Liabilities 2020: $237,180Net Assets 2020: $217,6592020Assets 2021: $373,396Liabilities 2021: $152,448Net Assets 2021: $220,9482021Assets 2022: $356,701Liabilities 2022: $139,757Net Assets 2022: $216,9442022Assets 2023: $692,498Liabilities 2023: $211,077Net Assets 2023: $481,4212023Assets 2024: $556,940Liabilities 2024: $191,317Net Assets 2024: $365,6232024

Highlighted filing

2023

Assets$692,498
Liabilities$211,077
Net Assets$481,421

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2012: $210,9812012Revenue 2014: $294,577Expenses 2014: $269,084Net Income 2014: $25,4932014Revenue 2015: $328,220Expenses 2015: $294,943Net Income 2015: $33,2772015Revenue 2016: $329,163Expenses 2016: $375,382Net Income 2016: -$46,2192016Revenue 2017: $371,827Expenses 2017: $360,405Net Income 2017: $11,4222017Revenue 2018: $418,296Expenses 2018: $442,304Net Income 2018: -$24,0082018Revenue 2019: $408,797Expenses 2019: $408,250Net Income 2019: $5472019Revenue 2020: $429,319Expenses 2020: $381,404Net Income 2020: $47,9152020Revenue 2021: $409,890Expenses 2021: $406,601Net Income 2021: $3,2892021Revenue 2022: $420,929Expenses 2022: $424,933Net Income 2022: -$4,0042022Revenue 2023: $743,150Expenses 2023: $478,673Net Income 2023: $264,4772023Revenue 2024: $404,886Expenses 2024: $520,683Net Income 2024: -$115,7972024

Highlighted filing

2023

Revenue$743,150
Expenses$478,673
Net Income$264,477
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 23, 2024
Return Version
2023v5.1
Gross Receipts
$755,835
Mission and Program Overview

Mission

To promote the value and enhancement of our historic buildings and neighborhoods in the city of Ithaca and Tompkins County through education advocacy and action.

To promote the value and enhancement of our historic buildings and neighborhoods in the city of ithaca and tompkins county through education, advocacy and action.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$119,838$196,638▲ $76,800
Cash and Non-Interest-Bearing Accounts$14,309$158,474▲ $144,165
Accounts Receivable-$152,231-
Inventories for Sale or Use$117,669$131,027▲ $13,358
Savings and Temporary Cash Investments$81,122$32,588▼ $48,534
Pledges and Grants Receivable$19,086$19,208▲ $122
Prepaid Expenses and Deferred Charges$4,677$2,332▼ $2,345
Total Assets$356,701$692,498▲ $335,797
Liabilities
Mortgage Notes Payable Secured by Investment Property$118,738$107,670▼ $11,068
Other Liabilities-$77,835-
Accounts Payable and Accrued Expenses$21,019$25,572▲ $4,553
Total Liabilities$139,757$211,077▲ $71,320
Net Assets / Fund Balance
Net Assets With Donor Restrictions$45,000$330,963▲ $285,963
Net Assets Without Donor Restrictions$171,944$150,458▼ $21,486
Total Net Assets Fund Balance$216,944$481,421▲ $264,477
Total Liabilities and Net Assets / Fund Balance$356,701$692,498▲ $335,797

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$112,413$134,817-
Other Land Buildings-$25,153-
Land$4,699--
Equipment$79,526$40,583-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Susan HollandExecutive DirectorFT$65,998$65,998

Board Members and Trustees

NameTitle
Kim HazeltonPresident
Linda JaffeVice President
Cindy FreidmutterBoard member
Nancy BrcakBoard Member
Noah DemarestBoard Member
Abby PetersonSecretary
Caren RubinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$596,051
Program Service Revenue
$6,500
Investment Income
$0
Other Revenue
$140,599
All Other Contributions
$410,726
Change in Net Assets
$264,477
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$352,917
Other Expenses$125,756
Total Fundraising Expense$18,204
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$215,600$23,112$5,466$244,178
Current Officers, Directors, Trustees, and Key Employees$42,939$16,469$6,590$65,998
Payroll Taxes$25,761$3,944$1,201$30,906
Fees for Services Accounting$7,144$22,045-$29,189
Insurance$10,358$3,433-$13,791
Other Employee Benefits$6,115$5,720-$11,835
Depreciation Depletion$9,629$1,405-$11,034
Occupancy$9,358$1,158-$10,516
Office Expenses$5,182$3,899$1,162$10,243
Interest$2,594$6,099-$8,693
All Other Expenses$1,709$1,469$1,800$4,978
Advertising$3,524$995-$4,519
Other Expenses$1,635$841$250$2,726
Total Functional Expenses$366,833$93,636$18,204$478,673
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Finance lease liability$77,835
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

The 990 report is reviewed with the board of directors prior to being signed and sent.

Conflict of interest policy compliance Part VI line 12C

Annually each member of the Board of Directors signs a Conflict of Interest Compliance form. The Executive Director and Board President review any issues, render and opinion and take proper measures.

CEO executive director top management comp Part VI line 15A

The Board of Directors have final approval on compensation for the Executive Director.

Other officer or key employee compensation Part VI line 15B

Regarding the employees of the organization, the Executibve Director makes a recommendation to the Board of Directors, who make the final decision.

Governing documents etc available to public Part VI line 19

Once approved by the Board of Directors, the Financial package, 990 and CHAR500 are posted on the Historic Ithaca website. A hard copy is also available in the office.

Filing and Contact Details

Filer

Filer Name
Historic Ithaca Inc
EIN
23-7051773
Address
210-212 Center Street, Ithaca, NY 14850

Signing Officer

Name
Susan Holland
Title
Executive Direc
Phone
6072736633
Signed
2024-04-23
Discuss with paid preparer
No

Organization Details

Formed
1966
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
50

Preparer

Firm
Kurt Behrenfeld CPA PLLC
Address
7 Hickory Lane, Cortland, NY 13045
Preparer
Kurt Behrenfeld
Phone
6074230577
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06500
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IRS990/ProgSrvcAccomActy2Grp/Desc0Significant Elements Architectural Salvage store: Sells donated, recycled and historic building materials and home furnishings, diverting materials from the waste stream. It promotes proper care and maintenance of historic building fabric and serves as a venue for the Work Preserve program.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0121149
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0153117
IRS990/ProgSrvcAccomActy3Grp/Desc0Preservation Services and Community Engagement: The organization offers professional expertise, technical support and resources about Historic Preservation. It serves as an advocate for the citdy and counties building environment, develoops public awareness and appreciation for the built environment through educational programs.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 report is reviewed with the board of directors prior to being signed and sent.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually each member of the Board of Directors signs a Conflict of Interest Compliance form. The Executive Director and Board President review any issues, render and opinion and take proper measures.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors have final approval on compensation for the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Regarding the employees of the organization, the Executibve Director makes a recommendation to the Board of Directors, who make the final decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Once approved by the Board of Directors, the Financial package, 990 and CHAR500 are posted on the Historic Ithaca website. A hard copy is also available in the office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false

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