Civic Intelligence

Downtown Schenectady Improvement Corporation

990 • Fiscal year 2017 • EIN 36-4465022

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 12, 2018

143 State StreetSchenectady, NY 12305

(518) 377-9430

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.06x

Higher debt load relative to assets than 43% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

49th percentile

0.07x

Higher debt load relative to revenue than 49% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Net Margin

38th percentile

-1.0%

Higher net margin than 38% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

70th percentile

$91,601

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 16.3% of source-year revenue.

2017 filings • NTEE S • $500k-$1M nonprofits • Source year 2017

Asset Growth

39th percentile

-0.9%

Faster asset growth than 39% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.8%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$633,981

Down $5,782 (-0.9%) from 2016

Net Assets

Down

$592,869

Down $5,838 (-1.0%) from 2016

Liabilities

Up

$41,112

Up $56 (+0.1%) from 2016

Revenue

Up

$560,562

Up $4,582 (+0.8%) from 2016

Expenses

Down

$566,400

Down $25,014 (-4.2%) from 2016

Net Income

Up

-$5,838

Up $29,596 (+84%) from 2016

Historical Trend

Balance Sheet Trend

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

$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

2017

Assets$633,981
Liabilities$41,112
Net Assets$592,869

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$560,562
Expenses$566,400
Net Income-$5,838
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 12, 2018
Return Version
2017v2.3
Gross Receipts
$582,319
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
Cash and Non-Interest-Bearing Accounts$238,473$281,751▲ $43,278
Other Notes and Loans Receivable, Net$311,514$270,859▼ $40,655
Accounts Receivable$62,223$58,711▼ $3,512
Prepaid Expenses and Deferred Charges$16,554$13,024▼ $3,530
Land, Buildings, and Equipment, Net$10,999$9,636▼ $1,363
Total Assets$639,763$633,981▼ $5,782
Liabilities
Accounts Payable and Accrued Expenses$41,056$41,112▲ $56
Total Liabilities$41,056$41,112▲ $56
Net Assets / Fund Balance
Unrestricted Net Assets$598,707$592,869▼ $5,838
Total Net Assets Fund Balance$598,707$592,869▼ $5,838
Total Liabilities and Net Assets / Fund Balance$639,763$633,981▼ $5,782

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,636$129,910$139,546
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James SalengoExecutive DiFT$82,647$8,954$91,601

Board Members and Trustees

NameTitle
Heather PetersonPresident
Austin FisherBoard Member
Jeffrey MorlangBoard Member
Lori SeldenBoard Member
Richard AntokolBoard Member
Rudy GrantTreasurer
Chris SpraragenVP, Secretar
Revenue and Support

Revenue Composition

Contributions and Grants
$275,891
Program Service Revenue
$289,619
Investment Income
$8,312
Other Revenue
$-13,260
All Other Contributions
$100,888
Change in Net Assets
$-5,838

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$32,891
Total Noncash Contributions1$32,891

Audited Revenue Reconciliation

Revenue per Audited Statements
$560,562
Revenue Not Reported on Form 990
$20,711
Total Revenue per Audited Statements
$581,273
Total Revenue per Form 990
$560,562
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$335,033
Other Expenses$231,367
Total Fundraising Expense$22,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$176,629$4,963$7,452$189,044
Current Officers, Directors, Trustees, and Key Employees$85,409$2,107$4,085$91,601
Fees for Services Other$41,239--$41,239
All Other Expenses$34,540$796$1,669$37,005
Payroll Taxes$29,088$930$1,056$31,074
Occupancy$21,808$951$1,345$24,104
Other Employee Benefits$15,874$1,040$968$17,882
Other Expenses$12,872$253$357$13,482
Advertising$12,612-$200$12,812
Insurance$11,331$540$764$12,635
Office Expenses$10,881$128$1,005$12,014
Depreciation Depletion$5,213$248$351$5,812
Pension Plan Contributions$4,938$303$191$5,432
Total Functional Expenses$529,580$14,140$22,680$566,400

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$587,111
Expenses per Audited Statements$566,400
Total Expenses per Form 990$566,400
Expenses Not Reported on Form 990$20,711
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$20,711
Fundraising Gross Income$7,451
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying 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
Backup withholding compliance
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
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 treasurer of the board reviews the 990 for accuracy and completeness.

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

Weekly staff meetings in which best business practices, ethical behavior and related matters are regularly stressed and viewed.

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

The executive director is hired based on recommendations of the 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
143 STATE STREET, SCHENECTADY, NY 12305

Signing Officer

Name
Heather Peterson
Title
President
Phone
5183779430
Signed
2018-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Salengo
Formed
1978
Voting Board Members
8
Independent Board Members
8
Employees
11

Preparer

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

Additional Explanations

Form 990, Part XI, Line 9

Special events 20,711 special events -20,711

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

SPECIAL EVENTS 20,711

Schedule D, Page 4, Part XII, Line 2D

SPECIAL EVENTS 20,711

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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/ExplanationTxt0SPECIAL EVENTS 20,711
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENTS 20,711
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER OF THE BOARD REVIEWS THE 990 FOR ACCURACY AND COMPLETENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WEEKLY STAFF MEETINGS IN WHICH BEST BUSINESS PRACTICES, ETHICAL BEHAVIOR AND RELATED MATTERS ARE REGULARLY STRESSED AND VIEWED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR IS HIRED BASED ON RECOMMENDATIONS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SPECIAL EVENTS 20,711 SPECIAL EVENTS -20,711
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IRS990/USAddress/AddressLine1Txt0143 STATE STREET
IRS990/USAddress/CityNm0SCHENECTADY
IRS990/USAddress/StateAbbreviationCd0NY
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