Civic Intelligence

Hudson Valley Economic Development

EIN 80-0492818 • 501(c)6 • Poughkeepsie, NY

Profile

Economic development and promotion of the hudson valley region in new york.

42 Catharine StreetPoughkeepsie, NY 12601

www.hvedc.com

Siviq Scores

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

Liabilities / Assets

59th percentile

0.10x

Higher debt load relative to assets than 59% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.06x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

8th percentile

-23%

Higher net margin than 8% of similar nonprofits.

501(c)6 • $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

7th percentile

-29%

Faster asset growth than 7% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-14%

Faster revenue growth than 11% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$542,397

Down $224,250 (-29%) from 2023

Liabilities

Down

$54,851

Down $29,546 (-35%) from 2023

Net Assets

Down

$487,546

Down $194,704 (-29%) from 2023

Operations
Liabilities / Revenue55th percentileNet Margin8th percentile

Revenue

Down

$851,897

Down $143,568 (-14%) from 2023

Expenses

Up

$1,046,601

Up $147,316 (+16%) from 2023

Net Income

Down

-$194,704

Down $290,884 (-302%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth7th percentile

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

$800K$600K$400K$200K$0-$200KAssets 2010: $224,637Liabilities 2010: $22,881Net Assets 2010: $201,7562010Assets 2011: $99,498Liabilities 2011: $65,193Net Assets 2011: $34,3052011Assets 2012: $79,851Liabilities 2012: $3,177Net Assets 2012: $76,6742012Assets 2013: $118,713Liabilities 2013: $26,389Net Assets 2013: $92,3242013Assets 2014: $109,830Liabilities 2014: $14,762Net Assets 2014: $95,0682014Assets 2015: $131,700Liabilities 2015: $26,916Net Assets 2015: $104,7842015Assets 2016: $76,320Liabilities 2016: $23,227Net Assets 2016: $53,0932016Assets 2017: $58,176Liabilities 2017: $30,709Net Assets 2017: $27,4672017Assets 2018: $34,870Liabilities 2018: $49,449Net Assets 2018: -$14,5792018Assets 2019: $132,136Liabilities 2019: $4,575Net Assets 2019: $127,5612019Assets 2020: $295,315Liabilities 2020: $4,603Net Assets 2020: $290,7122020Assets 2021: $436,015Liabilities 2021: $7,246Net Assets 2021: $428,7692021Assets 2022: $640,040Liabilities 2022: $53,970Net Assets 2022: $586,0702022Assets 2023: $766,647Liabilities 2023: $84,397Net Assets 2023: $682,2502023Assets 2024: $542,397Liabilities 2024: $54,851Net Assets 2024: $487,5462024

Highlighted filing

2024

Assets$542,397
Liabilities$54,851
Net Assets$487,546
Open 2024 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $849,0252010Revenue 2011: $739,533Expenses 2011: $906,984Net Income 2011: -$167,4512011Revenue 2012: $822,851Expenses 2012: $780,482Net Income 2012: $42,3692012Revenue 2013: $845,809Expenses 2013: $830,159Net Income 2013: $15,6502013Revenue 2014: $767,295Expenses 2014: $764,551Net Income 2014: $2,7442014Revenue 2015: $772,535Expenses 2015: $762,819Net Income 2015: $9,7162015Revenue 2016: $750,967Expenses 2016: $802,658Net Income 2016: -$51,6912016Revenue 2017: $691,337Expenses 2017: $716,963Net Income 2017: -$25,6262017Revenue 2018: $584,886Expenses 2018: $626,932Net Income 2018: -$42,0462018Revenue 2019: $663,166Expenses 2019: $521,026Net Income 2019: $142,1402019Revenue 2020: $626,838Expenses 2020: $482,521Net Income 2020: $144,3172020Revenue 2021: $678,738Expenses 2021: $540,681Net Income 2021: $138,0572021Revenue 2022: $911,039Expenses 2022: $753,738Net Income 2022: $157,3012022Revenue 2023: $995,465Expenses 2023: $899,285Net Income 2023: $96,1802023Revenue 2024: $851,897Expenses 2024: $1,046,601Net Income 2024: -$194,7042024

Highlighted filing

2024

Revenue$851,897
Expenses$1,046,601
Net Income-$194,704
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
$542,397
Liabilities
$54,851
Net assets
$487,546
Revenue
$851,897
Expenses
$1,046,601
Net income
-$194,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.05$0.49$0.85$1.05$0.19
2023Detailed filing. Detailed filing data is available for this year.$0.77$0.08$0.68$1.00$0.90$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.64$0.05$0.59$0.91$0.75$0.16
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.43$0.68$0.54$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.29$0.63$0.48$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.66$0.52$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.03$0.05$0.01$0.58$0.63$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.03$0.03$0.69$0.72$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.08$0.02$0.05$0.75$0.80$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.13$0.03$0.10$0.77$0.76$0.01
2014Summary only. Only limited summary data is available for this year.$0.11$0.01$0.10$0.77$0.76$0.00
2013Summary only. Only limited summary data is available for this year.$0.12$0.03$0.09$0.85$0.83$0.02
2012Summary only. Only limited summary data is available for this year.$0.08$0.00$0.08$0.82$0.78$0.04
2011Summary only. Only limited summary data is available for this year.$0.10$0.07$0.03$0.74$0.91$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.02$0.20$0.85
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.0
Gross Receipts
$851,897
Mission and Program Overview

Mission

Economic development and promotion of a seven county region.

Economic development and promotion of the hudson valley region in new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$420,514$406,731▼ $13,783
Accounts Receivable$346,133$135,666▼ $210,467
Total Assets$766,647$542,397▼ $224,250
Liabilities
Accounts Payable and Accrued Expenses$84,397$54,851▼ $29,546
Total Liabilities$84,397$54,851▼ $29,546
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$682,250$487,546▼ $194,704
Total Net Assets Fund Balance$682,250$487,546▼ $194,704
Total Liabilities and Net Assets / Fund Balance$766,647$542,397▼ $224,250
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael OatesPresident &FT$392,547$43,019$435,566
Michael OatesPresident & CEO-$311,169$124,397$435,566

Board Members and Trustees

NameTitle
Nick PreddiceChairman
Robert LevineImmediate Pa
Anthony GioffreSecretary
Alan MarksTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$851,897
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-194,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$546,896
Other Expenses$499,705
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$345,441$47,106-$392,547
Advertising$110,099--$110,099
Other Salaries and Wages$77,512$5,169-$82,681
Fees for Services Other$69,102--$69,102
Other Employee Benefits$29,691$3,425-$33,116
Payroll Taxes$19,186$2,616-$21,802
Pension Plan Contributions$11,892$4,858-$16,750
All Other Expenses$14,479--$14,479
Fees for Services Accounting-$11,084-$11,084
Insurance-$8,923-$8,923
Other Expenses$4,542$3,028-$7,570
Office Expenses$2,890$1,484-$4,374
Travel$2,278--$2,278
Total Functional Expenses$958,908$87,693$0$1,046,601
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
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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

“All board members are provided with a copy of the return for approval before the return is filed.”

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

“Board members and officers are required to disclose any potential conflicts of interest on an annual basis. If there is a potential conflict of interest, the board member or officer excuses themselves from the meeting while the remaining members vote on whether or not to engage in the business transaction with the potential third party.”

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

“The president/ceo's comepsation is determined by the board.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Hudson Valley Economic Development
EIN
80-0492818
Phone
8452202244
Address
42 CATHARINE STREET, POUGHKEEPSIE, NY 12601

Signing Officer

Name
Michael Oates
Title
President & CEO
Phone
8452202244
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Oates
Formed
2009
Voting Board Members
118
Independent Board Members
118
Employees
2

Preparer

Firm
Waschitz Pavloff CPA Llp
Address
PO BOX 871, MONTICELLO, NY 12701
Preparer
Andrew J Pavloff
Phone
8457942200
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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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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalAssetsBOYAmt0766647
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IRS990/TotalContributionsAmt0851897
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0958908
IRS990/TotalFunctionalExpensesGrp/TotalAmt01046601
IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/ProgramServicesAmt02278
IRS990/TravelGrp/TotalAmt02278
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt042 CATHARINE STREET
IRS990/USAddress/CityNm0POUGHKEEPSIE
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012601
IRS990/VotingMembersGoverningBodyCnt0118
IRS990/VotingMembersIndependentCnt0118
IRS990/WebsiteAddressTxt0WWW.HVEDC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL OATES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08452202244
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HUDSON VALLEY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HUDS
ReturnHeader/Filer/EIN0800492818
ReturnHeader/Filer/PhoneNum08452202244
ReturnHeader/Filer/USAddress/AddressLine1Txt042 CATHARINE STREET
ReturnHeader/Filer/USAddress/CityNm0POUGHKEEPSIE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012601
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822240084
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WASCHITZ PAVLOFF CPA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 871
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONTICELLO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd012701
ReturnHeader/PreparerPersonGrp/PhoneNum08457942200
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANDREW J PAVLOFF
ReturnHeader/ReturnTs02025-11-13T13:46:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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