Civic Intelligence

Downtown Schenectady Improvement Corporation

EIN 36-4465022 • 501(c)3 • Schenectady, NY

View Organization Page

Profile

Our mission is to promote downtown schenectady as a premier location for commerce, recreation and residence by enhancing, facilitating and supporting economic growth.

740 Union Street 3rd FloorSchenectady, NY 12305

www.downtownschenectady.org

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.17x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.12x

Higher debt load relative to revenue than 71% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

27th percentile

-7.3%

Higher net margin than 27% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

15th percentile

-15%

Faster asset growth than 15% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

45th percentile

4.3%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$609,319

Down $237,460 (-28%) from 2022

Liabilities

Down

$100,788

Down $113,527 (-53%) from 2022

Net Assets

Down

$508,531

Down $123,933 (-20%) from 2022

Operations
Liabilities / Revenue71st percentileNet Margin27th percentile

Revenue

Up

$861,146

Up $69,958 (+8.8%) from 2022

Expenses

Up

$924,114

Up $26,860 (+3.0%) from 2022

Net Income

Up

-$62,968

Up $43,098 (+41%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth15th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $1,080,509Liabilities 2010: $131,090Net Assets 2010: $949,4192010Assets 2011: $864,358Liabilities 2011: $59,859Net Assets 2011: $804,4992011Assets 2016: $639,763Liabilities 2016: $41,056Net Assets 2016: $598,7072016Assets 2017: $633,981Liabilities 2017: $41,112Net Assets 2017: $592,8692017Assets 2018: $738,598Liabilities 2018: $30,521Net Assets 2018: $708,0772018Assets 2019: $690,024Liabilities 2019: $42,489Net Assets 2019: $647,5352019Assets 2020: $785,024Liabilities 2020: $50,761Net Assets 2020: $734,2632020Assets 2021: $795,424Liabilities 2021: $56,894Net Assets 2021: $738,5302021Assets 2022: $846,779Liabilities 2022: $214,315Net Assets 2022: $632,4642022Assets 2024: $609,319Liabilities 2024: $100,788Net Assets 2024: $508,5312024

Highlighted filing

2024

Assets$609,319
Liabilities$100,788
Net Assets$508,531
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,161,2632010Expenses 2011: $1,025,8262011Revenue 2016: $555,980Expenses 2016: $591,414Net Income 2016: -$35,4342016Revenue 2017: $560,562Expenses 2017: $566,400Net Income 2017: -$5,8382017Revenue 2018: $761,835Expenses 2018: $646,627Net Income 2018: $115,2082018Revenue 2019: $703,400Expenses 2019: $763,942Net Income 2019: -$60,5422019Revenue 2020: $781,398Expenses 2020: $694,670Net Income 2020: $86,7282020Revenue 2021: $669,388Expenses 2021: $665,121Net Income 2021: $4,2672021Revenue 2022: $791,188Expenses 2022: $897,254Net Income 2022: -$106,0662022Revenue 2024: $861,146Expenses 2024: $924,114Net Income 2024: -$62,9682024

Highlighted filing

2024

Revenue$861,146
Expenses$924,114
Net Income-$62,968
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$609,319
Liabilities
$100,788
Net assets
$508,531
Revenue
$861,146
Expenses
$924,114
Net income
-$62,968
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.10$0.51$0.86$0.92$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.21$0.63$0.79$0.90$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.06$0.74$0.67$0.67$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.05$0.73$0.78$0.69$0.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.04$0.65$0.70$0.76$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.03$0.71$0.76$0.65$0.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.04$0.59$0.56$0.57$0.01
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.04$0.60$0.56$0.59$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.86$0.06$0.80$1.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.13$0.95$1.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 24, 2025
Return Version
2024v5.0
Gross Receipts
$861,146
Mission and Program Overview

Mission

Our mission is to promote downtown schenectady as a premier location for commerce, recreation and residence by enhancing, facilitating and supporting economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$180,418$185,391▲ $4,973
Pledges and Grants Receivable$68,750$143,433▲ $74,683
Cash and Non-Interest-Bearing Accounts$238,889$123,385▼ $115,504
Land, Buildings, and Equipment, Net$136,230$98,112▼ $38,118
Prepaid Expenses and Deferred Charges$21,499$3,704▼ $17,795
Total Assets$752,540$609,319▼ $143,221
Other Assets Total$106,754$55,294▼ $51,460
Liabilities
Other Liabilities$106,754$55,294▼ $51,460
Accounts Payable and Accrued Expenses$67,711$39,218▼ $28,493
Deferred Revenue$6,576$6,276▼ $300
Total Liabilities$181,041$100,788▼ $80,253
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$571,499$508,531▼ $62,968
Total Net Assets Fund Balance$571,499$508,531▼ $62,968
Total Liabilities and Net Assets / Fund Balance$752,540$609,319▼ $143,221

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,140$199,899$232,039
Other Land Buildings$65,972$38,208$104,180
Other Assets Org$55,294--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Maureen NeufeldExecutive DiFT$82,212$82,212

Board Members and Trustees

NameTitle
Heather PetersonPresident
Bashir ChedraweeBoard Member
Ellen MchaleBoard Member
Michael BurnsBoard Member
Mitch RamseyBoard Member
Phil WajdaBoard Member
Tate OttatiBoard Member
Ray LegereSecretary
Andrea CortelyouTreasurer
Austin FisherVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$318,818
Program Service Revenue
$537,355
Investment Income
$4,973
Other Revenue
$0
All Other Contributions
$43,818
Change in Net Assets
$-62,968

Audited Revenue Reconciliation

Revenue per Audited Statements
$861,146
Revenue Not Reported on Form 990
$1,500
Total Revenue per Audited Statements
$862,646
Total Revenue per Form 990
$861,146
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$591,834
Other Expenses$332,280
Total Fundraising Expense$60,493
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$342,882$48,649$7,783$399,314
Current Officers, Directors, Trustees, and Key Employees$46,778$25,075$10,359$82,212
Payroll Taxes$54,847$10,040$2,257$67,144
Occupancy$62,957$1,454$2,057$66,468
All Other Expenses$45,432$2,614$971$49,017
Depreciation Depletion$34,169$1,635$2,314$38,118
Other Employee Benefits$36,671$374$577$37,622
Insurance$28,700$1,374$1,943$32,017
Other Expenses$18,035-$29,126$18,035
Advertising$13,911--$13,911
Office Expenses$7,306$147$208$7,661
Pension Plan Contributions$4,219$1,152$171$5,542
Total Functional Expenses$771,107$92,514$60,493$924,114

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$925,614
Expenses per Audited Statements$924,114
Total Expenses per Form 990$924,114
Expenses Not Reported on Form 990$1,500
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
Lease Payable Current$34,179
Lease Payable Long-term$21,115
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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, Page 6, Part VI, Line 11B

“The executive director and treasurer of the board review form 990 for accuracy and completeness. All board members are provided a draft copy of form 990 in advance before filing.”

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

“Board members and key staff sign annual conflict of interest forms. All are asked to disclose any conflicts prior to substantive action by the board and abstain from voting if necessary.”

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

“The executive director is hired and compensated based on the approval of the full board.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Downtown Schenectady Improvement
EIN
36-4465022
Phone
5183779430
Address
740 UNION STREET 3RD FLOOR, SCHENECTADY, NY 12305

Signing Officer

Name
Maureen Neufeld
Title
Executive Director
Phone
5183779430
Signed
2025-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Neufeld
Formed
1978
Voting Board Members
10
Independent Board Members
10
Employees
17

Preparer

Firm
Cusack & Company Cpas LLC
Address
7 AIRPORT PARK BLVD, LATHAM, NY 12110
Preparer
Jason D Marra CPA
Phone
5187863550
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The accounting standards codification required entities to disclose in their financial statements the nature of any uncertainty in their tax position. The organization hasn ot recognied any benefits or liabilities from uncertain tax positions in teh current year and beilives it has no uncertain tax positions in 2024 for which it is reasonably probably that will significantly increase or decrease net assets. Generally, federal and state authorities may examine the organization's tax returns for three years from teh date of filing; consequently, tax-exempt returns for years prior to 2021 are no longer subject to examination by tax authorities.”

Raw XML AppendixShowing 400 of 463 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/OtherExpensesGrp/Desc2MAINT CONTRACT SERVICES
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IRS990/OtherExpensesGrp/ProgramServicesAmt221687
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt07783
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IRS990/PayrollTaxesGrp/FundraisingAmt02257
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IRS990/PensionPlanContributionsGrp/FundraisingAmt0171
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01152
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt172465
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt257396
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt327494
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IRS990/ProgSrvcAccomActy2Grp/Desc0BUSINESS PROMOTION MARKETING PROGRAM - TO PROMOTE DOWNTOWN SCHENECTADY AS A DESTINATION FOR SHOPPING, DINING, RECREATION AND ENTERTAINMENT, AS WELL AS AN IDEAL PLACE TO LOCATE PROFESSIONAL OFFICES RANGING FROM SINGLE PROPRIETORSHIPS TO MAJOR CORPORATE HEADQUARTERS.
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RevenueAmt0410512
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0180418
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0318818
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01020542
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0313292
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0444137
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02436629
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04973
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02214190
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04111949
IRS990ScheduleA/TotalSupportAmt04136413
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IRS990ScheduleD/DonatedServicesUseFcltsAmt01500
IRS990ScheduleD/EquipmentGrp/BookValueAmt032140
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0199899
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0232039
IRS990ScheduleD/ExpensesNotReportedAmt01500
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt055294
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt038208
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0104180
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034179
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt121115
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE PAYABLE CURRENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE PAYABLE LONG-TERM
IRS990ScheduleD/RevenueNotReportedAmt01500
IRS990ScheduleD/RevenueSubtotalAmt0861146
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTING STANDARDS CODIFICATION REQUIRED ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTY IN THEIR TAX POSITION. THE ORGANIZATION HASN OT RECOGNIED ANY BENEFITS OR LIABILITIES FROM UNCERTAIN TAX POSITIONS IN TEH CURRENT YEAR AND BEILIVES IT HAS NO UNCERTAIN TAX POSITIONS IN 2024 FOR WHICH IT IS REASONABLY PROBABLY THAT WILL SIGNIFICANTLY INCREASE OR DECREASE NET ASSETS. GENERALLY, FEDERAL AND STATE AUTHORITIES MAY EXAMINE THE ORGANIZATION'S TAX RETURNS FOR THREE YEARS FROM TEH DATE OF FILING; CONSEQUENTLY, TAX-EXEMPT RETURNS FOR YEARS PRIOR TO 2021 ARE NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt055294
IRS990ScheduleD/TotalExpensesPerForm990Amt0924114
IRS990ScheduleD/TotalLiabilityAmt055294
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR AND TREASURER OF THE BOARD REVIEW FORM 990 FOR ACCURACY AND COMPLETENESS. ALL BOARD MEMBERS ARE PROVIDED A DRAFT COPY OF FORM 990 IN ADVANCE BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS AND KEY STAFF SIGN ANNUAL CONFLICT OF INTEREST FORMS. ALL ARE ASKED TO DISCLOSE ANY CONFLICTS PRIOR TO SUBSTANTIVE ACTION BY THE BOARD AND ABSTAIN FROM VOTING IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR IS HIRED AND COMPENSATED BASED ON THE APPROVAL OF THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalAssetsGrp/EOYAmt0609319
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0318818

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