Essex County Industrial Development
- Assets
- $7.0m
- Revenue
- $680.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Elizabethtown, NY
- Founding
- 09/1983
- Data as of
- 12/2021
- EIN
- 14-1630643
Organization Overview
Essex County Industrial Development is located in Elizabethtown, NY. The organization was established in 1983. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Essex County Industrial Development employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essex County Industrial Development is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Essex County Industrial Development generated $680.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $618.0k during the year ending 12/2021. While expenses have increased by 8.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE A VIABLE BUSINESS ATMOSPHERE THAT WILL ATTRACT COMPATIBLE AND DIVERSE SUSTAINABLE ECONOMIC DEVELOPMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIMARY OBJECTIVES OF THE LOAN PROGRAM ARE TO FACILIATATE THE EXPANSION AND RETENTION OF BUSINESS ACTIVITY, CREATE EMPLOYMENT OPPORTUNITIES, AND EXPAND THE COUNTY'S INDUSTRIAL AND COMMERCIAL TAX BASE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Boyea Secretary | OfficerTrustee | $0 | |
Darren Darrah Chairman | OfficerTrustee | $0 | |
James Bowen Director | Trustee | $0 | |
Matthew Courtright Director | Trustee | $0 | |
Roy Holzer Director | Trustee | $0 | |
James Mounty Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $477,066 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $477,066 |
| Total Program Service Revenue | $202,937 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $680,003 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $76,876 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,790 |
| Pension plan accruals and contributions | $9,746 |
| Other employee benefits | $0 |
| Payroll taxes | $14,553 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,484 |
| Fees for services: Accounting | $8,614 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,765 |
| Advertising and promotion | $3,589 |
| Office expenses | $7,547 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,063 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,214 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,691 |
| Insurance | $15,090 |
| All other expenses | $2,404 |
| Total functional expenses | $618,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,202,035 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,027,346 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,590,336 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $173,995 |
| Total assets | $6,993,712 |
| Accounts payable and accrued expenses | $203 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $225,124 |
| Total liabilities | $225,327 |
| Net assets without donor restrictions | $1,538,849 |
| Net assets with donor restrictions | $5,229,536 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,993,712 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Essex County Industrial Development has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Adirondack Foundation Lake Placid, NY PURPOSE: IN SUPPORT OF ESSEX COUNTY COVID-19 SMALL BUSINESS & NONPROFIT RECOVERY GRANTS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |