Civic Intelligence

Downtown Schenectady Improvement Corporation

990 • Fiscal year 2018 • EIN 36-4465022

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 02, 2019

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

40th percentile

0.04x

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

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

41st percentile

0.04x

Higher debt load relative to revenue than 41% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Net Margin

74th percentile

15%

Higher net margin than 74% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$93,579

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 12.3% of source-year revenue.

2018 filings • NTEE S • $500k-$1M nonprofits • Source year 2018

Asset Growth

74th percentile

17%

Faster asset growth than 74% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

84th percentile

36%

Faster revenue growth than 84% of similar nonprofits.

2018 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$738,598

Up $104,617 (+17%) from 2017

Net Assets

Up

$708,077

Up $115,208 (+19%) from 2017

Liabilities

Down

$30,521

Down $10,591 (-26%) from 2017

Revenue

Up

$761,835

Up $201,273 (+36%) from 2017

Expenses

Up

$646,627

Up $80,227 (+14%) from 2017

Net Income

Up

$115,208

Up $121,046 (+2073%) from 2017

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

2018

Assets$738,598
Liabilities$30,521
Net Assets$708,077

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

2018

Revenue$761,835
Expenses$646,627
Net Income$115,208
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 2, 2019
Return Version
2018v3.1
Gross Receipts
$761,835
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$281,751$273,657▼ $8,094
Other Notes and Loans Receivable, Net$270,859$228,985▼ $41,874
Land, Buildings, and Equipment, Net$9,636$106,950▲ $97,314
Pledges and Grants Receivable-$59,642-
Accounts Receivable$58,711--
Savings and Temporary Cash Investments-$57,489-
Prepaid Expenses and Deferred Charges$13,024$11,875▼ $1,149
Total Assets$633,981$738,598▲ $104,617
Liabilities
Accounts Payable and Accrued Expenses$41,112$30,521▼ $10,591
Total Liabilities$41,112$30,521▼ $10,591
Net Assets / Fund Balance
Unrestricted Net Assets$592,869$708,077▲ $115,208
Total Net Assets Fund Balance$592,869$708,077▲ $115,208
Total Liabilities and Net Assets / Fund Balance$633,981$738,598▲ $104,617

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$106,950$124,685$231,635
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James SalengoExecutive DiFT$83,734$9,845$93,579

Board Members and Trustees

NameTitle
Heather PetersonPresident
Austin FisherBoard Member
Jeffrey MorlangBoard Member
Ray LegereBoard Member
Richard AntokolBoard Member
Carmel PatrickSecretary
Rudy GrantTreasurer
Chris SpraragenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$416,057
Program Service Revenue
$337,640
Investment Income
$8,138
Other Revenue
$0
All Other Contributions
$57,478
Change in Net Assets
$115,208

Audited Revenue Reconciliation

Revenue per Audited Statements
$761,835
Revenue Not Reported on Form 990
$34,727
Total Revenue per Audited Statements
$796,562
Total Revenue per Form 990
$761,835
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$378,860
Other Expenses$267,767
Total Fundraising Expense$34,650
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$208,609$7,831$9,628$226,068
Current Officers, Directors, Trustees, and Key Employees$86,626$2,714$4,239$93,579
All Other Expenses$60,804$1,108$6,596$68,508
Payroll Taxes$28,285$299$1,160$29,744
Other Employee Benefits$22,017$1,491$1,262$24,770
Occupancy$21,540$1,003$1,457$24,000
Other Expenses$17,063$5$7$17,075
Insurance$13,081$625$885$14,591
Office Expenses$13,720$100$390$14,210
Depreciation Depletion$12,432$604$854$13,890
Fees for Services Other$13,881--$13,881
Advertising$8,297$2$3$8,302
Pension Plan Contributions$4,194$239$266$4,699
Travel$130$4$6$140
Total Functional Expenses$593,772$18,205$34,650$646,627

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$681,354
Expenses per Audited Statements$646,627
Total Expenses per Form 990$646,627
Expenses Not Reported on Form 990$34,727
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
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
2019-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Salengo
Formed
1978
Voting Board Members
8
Independent Board Members
8
Employees
14

Preparer

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

Additional Explanations

Form 990, Part IX, Line 24E

Publications 14,514 94 913 maintenance & repairs 13,098 2 3 urban beautification 8,389 0 0 miscellaneous 3,264 90 4,273 communications 6,487 239 338 board & staff development 5,133 246 397 bus recruitment 4,482 215 304 equipment 1,504 57 81 subscriptions 1,215 58 82 membership affiliations 1,011 48 68 fees, license & permits 906 33 46 promotional 801 26 91 total 60,804 1,108 6,596

Form 990, Part XI, Line 9

990, part xi, line 6 - donated services and use of facilities in-kind professional services income 34,727 in-kind professional services expense (34,727) the organization receives in-kind donated marketing and printing services. For financial statement purposes this is recorded as revenue and expense. For tax purposes they are shown net as part of 990 schedule xi line 6.

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0274666
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt143770
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt215375
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33829
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt143770
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt215375
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33829
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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0164411
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt087124
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0275891
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt08312
IRS990/PYOtherExpensesAmt0231367
IRS990/PYOtherRevenueAmt0-13260
IRS990/PYProgramServiceRevenueAmt0289619
IRS990/PYRevenuesLessExpensesAmt0-5838
IRS990/PYSalariesCompEmpBnftPaidAmt0335033
IRS990/PYTotalExpensesAmt0566400
IRS990/PYTotalRevenueAmt0560562
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0115208
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0250516
IRS990/SavingsAndTempCashInvstGrp/EOYAmt057489
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0416057
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0275891
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0270553
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0303742
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0258429
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01524672
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt08138
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt09358
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt014943
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt016990
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt017308
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt066737
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0634710
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97680
IRS990ScheduleA/PublicSupportPY170Pct00.97220
IRS990ScheduleA/PublicSupportTotal170Amt02812618
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearAmt0274666
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus1YearAmt0269280
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus2YearsAmt0264000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus3YearsAmt0260000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/CurrentTaxYearMinus4YearsAmt0220000
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt01287946
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0690723
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0545171
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0534553
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0563742
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0478429
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02812618
IRS990ScheduleA/TotalSupportAmt02879355
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt034727
IRS990ScheduleD/DonatedServicesUseFcltsAmt034727
IRS990ScheduleD/EquipmentGrp/BookValueAmt0106950
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0124685
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0231635
IRS990ScheduleD/ExpensesNotReportedAmt034727
IRS990ScheduleD/ExpensesSubtotalAmt0646627
IRS990ScheduleD/RevenueNotReportedAmt034727
IRS990ScheduleD/RevenueSubtotalAmt0761835
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0106950
IRS990ScheduleD/TotalExpensesPerForm990Amt0646627
IRS990ScheduleD/TotalRevenuePerForm990Amt0761835
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0796562
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0681354
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt4PUBLICATIONS 14,514 94 913 MAINTENANCE & REPAIRS 13,098 2 3 URBAN BEAUTIFICATION 8,389 0 0 MISCELLANEOUS 3,264 90 4,273 COMMUNICATIONS 6,487 239 338 BOARD & STAFF DEVELOPMENT 5,133 246 397 BUS RECRUITMENT 4,482 215 304 EQUIPMENT 1,504 57 81 SUBSCRIPTIONS 1,215 58 82 MEMBERSHIP AFFILIATIONS 1,011 48 68 FEES, LICENSE & PERMITS 906 33 46 PROMOTIONAL 801 26 91 TOTAL 60,804 1,108 6,596
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5990, PART XI, LINE 6 - DONATED SERVICES AND USE OF FACILITIES IN-KIND PROFESSIONAL SERVICES INCOME 34,727 IN-KIND PROFESSIONAL SERVICES EXPENSE (34,727) THE ORGANIZATION RECEIVES IN-KIND DONATED MARKETING AND PRINTING SERVICES. FOR FINANCIAL STATEMENT PURPOSES THIS IS RECORDED AS REVENUE AND EXPENSE. FOR TAX PURPOSES THEY ARE SHOWN NET AS PART OF 990 SCHEDULE XI LINE 6.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0633981
IRS990/TotalAssetsEOYAmt0738598
IRS990/TotalAssetsGrp/BOYAmt0633981
IRS990/TotalAssetsGrp/EOYAmt0738598
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0416057
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt034650
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018205
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0593772
IRS990/TotalFunctionalExpensesGrp/TotalAmt0646627
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt041112
IRS990/TotalLiabilitiesEOYAmt030521
IRS990/TotalLiabilitiesGrp/BOYAmt041112
IRS990/TotalLiabilitiesGrp/EOYAmt030521
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0592869
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0708077
IRS990/TotalOtherCompensationAmt09845
IRS990/TotalProgramServiceExpensesAmt0593772
IRS990/TotalProgramServiceRevenueAmt0337640
IRS990/TotalReportableCompFromOrgAmt083734
IRS990/TotalRevenueGrp/ExclusionAmt08138
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0337640
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0761835
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0633981
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0738598
IRS990/TravelGrp/FundraisingAmt06
IRS990/TravelGrp/ManagementAndGeneralAmt04
IRS990/TravelGrp/ProgramServicesAmt0130
IRS990/TravelGrp/TotalAmt0140
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0592869
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0708077

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