Civic Intelligence

Chemung County Property Development Corporation

990 • Fiscal year 2022 • EIN 81-3982616

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 05, 2023

Organization ProfileCHEMUNGLANDBANK.COM
400 East Church StreetElmira, NY 14901

(607) 654-7487

Siviq Scores

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

Liabilities / Assets

69th percentile

0.02x

Higher debt load relative to assets than 69% of similar nonprofits.

2022 filings • NTEE C • <$500k nonprofits • Source year 2022

Liabilities / Revenue

67th percentile

0.02x

Higher debt load relative to revenue than 67% of similar nonprofits.

2022 filings • NTEE C • <$500k nonprofits • Source year 2022

Net Margin

65th percentile

24%

Higher net margin than 65% of similar nonprofits.

2022 filings • NTEE C • <$500k nonprofits • Source year 2022

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE C • <$500k nonprofits • Source year 2022

Asset Growth

77th percentile

28%

Faster asset growth than 77% of similar nonprofits.

2022 filings • NTEE C • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-29%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • NTEE C • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$477,311

Up $104,991 (+28%) from 2021

Net Assets

Up

$470,047

Up $97,778 (+26%) from 2021

Liabilities

Up

$7,264

Up $7,213 (+14143%) from 2021

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin65th percentile

Revenue

Down

$410,597

Down $169,405 (-29%) from 2021

Expenses

Down

$312,819

Down $253,910 (-45%) from 2021

Net Income

Up

$97,778

Up $84,505 (+637%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$600K$400K$200K$0Assets 2018: $272,104Liabilities 2018: $214,624Net Assets 2018: $57,4802018Assets 2019: $333,709Liabilities 2019: $40,768Net Assets 2019: $292,9412019Assets 2020: $359,240Liabilities 2020: $244Net Assets 2020: $358,9962020Assets 2021: $372,320Liabilities 2021: $51Net Assets 2021: $372,2692021Assets 2022: $477,311Liabilities 2022: $7,264Net Assets 2022: $470,0472022Assets 2023: $167,170Liabilities 2023: $94,706Net Assets 2023: $72,4642023Assets 2024: $519,998Liabilities 2024: $11,938Net Assets 2024: $508,0602024

Highlighted filing

2022

Assets$477,311
Liabilities$7,264
Net Assets$470,047
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $653,636Expenses 2018: $596,184Net Income 2018: $57,4522018Revenue 2019: $860,396Expenses 2019: $624,935Net Income 2019: $235,4612019Revenue 2020: $555,039Expenses 2020: $488,984Net Income 2020: $66,0552020Revenue 2021: $580,002Expenses 2021: $566,729Net Income 2021: $13,2732021Revenue 2022: $410,597Expenses 2022: $312,819Net Income 2022: $97,7782022Revenue 2023: $260,782Expenses 2023: $658,365Net Income 2023: -$397,5832023Revenue 2024: $1,014,351Expenses 2024: $578,755Net Income 2024: $435,5962024

Highlighted filing

2022

Revenue$410,597
Expenses$312,819
Net Income$97,778
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 5, 2023
Return Version
2022v5.0
Gross Receipts
$410,597
Mission and Program Overview

Mission

The corporation was established to combat the problem of vacant and abandoned properties in chemung county and the city of elmira and facilitate the return of vacant, abandoned and tax-delinquent properties to productive use.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$335,010$465,029▲ $130,019
Accounts Receivable$25,159--
Prepaid Expenses and Deferred Charges$12,151$12,282▲ $131
Total Assets$372,320$477,311▲ $104,991
Liabilities
Accounts Payable and Accrued Expenses$51$7,264▲ $7,213
Total Liabilities$51$7,264▲ $7,213
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$372,269$470,047▲ $97,778
Total Net Assets Fund Balance$372,269$470,047▲ $97,778
Total Liabilities and Net Assets / Fund Balance$372,320$477,311▲ $104,991
Compensation and Service Providers
Top Officer Pay84th percentile

Board Members and Trustees

NameTitle
L Thomas SweetChairman
John BurinVice Chairman
Dawn BurlewBoard Member
Joseph RomanBoard Member
Kevin MeindlBoard Member
Emma MiranSecretary
Jennifer FurmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Griffin Construction Of Nys INCConstructionPO BOX 307, Cohocton, NY 14826$132,500
Arbor Housing & DevelopmentConstruction Mgmt & Administration26 BRIDGE STREET, Corning, NY 14830$105,278
Revenue and Support

Revenue Composition

Contributions and Grants
$73,000
Program Service Revenue
$0
Investment Income
$337,597
Other Revenue
$0
All Other Contributions
$73,000
Change in Net Assets
$97,778

Audited Revenue Reconciliation

Revenue per Audited Statements
$410,597
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$410,597
Total Revenue per Form 990
$410,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$312,819
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$105,160-$105,160
Insurance-$26,247-$26,247
Fees for Services Other-$4,100-$4,100
Occupancy$2,474--$2,474
Other Expenses$166,540$560-$560
All Other Expenses-$3-$3
Total Functional Expenses$169,014$143,805$0$312,819

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$312,819
Total Expenses per Audited Statements$312,819
Total Expenses per Form 990$312,819
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 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
No
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, Part VI, Section A, Line 8B

“NO SUCH COMMITTEES.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by board prior to filing.”

Form 990, Part VI, Section C, Line 19

“Forms are available upon request at the organization's office during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Chemung County Property Development
EIN
81-3982616
Phone
6076547487
Address
400 EAST CHURCH STREET, ELMIRA, NY 14901

Signing Officer

Name
L Thomas Sweet
Title
Chairman
Phone
6076547487
Signed
2023-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
L Thomas Sweet
Formed
2016
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Efpr Group Cpas Pllc
Address
6390 MAIN STREET SUITE 200, WILLIAMSVILLE, NY 14221
Preparer
David a Urban CPA
Phone
7166340700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No change in audit selection or oversight in the current year.”

Financial Statement Notes

PART X, LINE 2:

“The corporation is exempt from income taxes under section 501(c)(3) of the internal revenue code (the code); therefore, no provision for income taxes is reflected in the financial statements. The corporation has been classified as a publicly supported organization that is not a private foundation under section 509(a) of the code. The corporation presently discloses or recognizes income tax positions based on management's estimate of whether it is reasonably possible or probable that a liability has been incurred for unrecognized income taxes. Management has concluded that the corporation has taken no uncertain tax positions that require adjustment in its financial statements. U.s. Forms 990 filed by the corporation are subject to examination by taxing authorities.”

Raw XML Appendix386 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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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0312819
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0410597
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE); THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE CODE. THE CORPORATION PRESENTLY DISCLOSES OR RECOGNIZES INCOME TAX POSITIONS BASED ON MANAGEMENT'S ESTIMATE OF WHETHER IT IS REASONABLY POSSIBLE OR PROBABLE THAT A LIABILITY HAS BEEN INCURRED FOR UNRECOGNIZED INCOME TAXES. MANAGEMENT HAS CONCLUDED THAT THE CORPORATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT IN ITS FINANCIAL STATEMENTS. U.S. FORMS 990 FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0312819
IRS990ScheduleD/TotalRevenuePerForm990Amt0410597
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0410597
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0312819
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO SUCH COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORMS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGE IN AUDIT SELECTION OR OVERSIGHT IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0372320
IRS990/TotalAssetsEOYAmt0477311
IRS990/TotalAssetsGrp/BOYAmt0372320
IRS990/TotalAssetsGrp/EOYAmt0477311
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt073000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0143805
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0169014
IRS990/TotalFunctionalExpensesGrp/TotalAmt0312819
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt051
IRS990/TotalLiabilitiesEOYAmt07264
IRS990/TotalLiabilitiesGrp/BOYAmt051
IRS990/TotalLiabilitiesGrp/EOYAmt07264
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0372269
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0470047
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0169014
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0540
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0337057
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0410597
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0372320
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0477311
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0400 EAST CHURCH STREET
IRS990/USAddress/CityNm0ELMIRA
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014901
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0CHEMUNGLANDBANK.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0L THOMAS SWEET
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06076547487
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHEMUNG COUNTY PROPERTY DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0CHEM
ReturnHeader/Filer/EIN0813982616
ReturnHeader/Filer/PhoneNum06076547487
ReturnHeader/Filer/USAddress/AddressLine1Txt0400 EAST CHURCH STREET
ReturnHeader/Filer/USAddress/CityNm0ELMIRA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014901
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0474526160
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EFPR GROUP CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06390 MAIN STREET SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILLIAMSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014221
ReturnHeader/PreparerPersonGrp/PhoneNum07166340700
ReturnHeader/PreparerPersonGrp/PreparationDt02023-06-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A URBAN CPA
ReturnHeader/ReturnTs02023-06-13T12:44:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0L
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THOMAS SWEET
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$477,311
Liabilities
$7,264
Net assets
$470,047
Revenue
$410,597
Expenses
$312,819
Net income
$97,778
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.52$0.01$0.51$1.01$0.58$0.44
2023Detailed filing. Detailed filing data is available for this year.$0.17$0.09$0.07$0.26$0.66$0.40
2022Detailed filing. Detailed filing data is available for this year.$0.48$0.01$0.47$0.41$0.31$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$0.58$0.57$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.56$0.49$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.33$0.04$0.29$0.86$0.62$0.24
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.21$0.06$0.65$0.60$0.06