St Lawrence County Indust Develop Agency Local Develop Corporation
- Assets
- $15.8m
- Revenue
- $736.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Canton, NY
- Founding
- 04/1987
- Data as of
- 12/2021
- EIN
- 22-2757318
Organization Overview
St Lawrence County Indust Develop Agency Local Develop Corporation is located in Canton, NY. The organization was established in 1987. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, St Lawrence County Indust Develop Agency Local Develop Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Lawrence County Indust Develop Agency Local Develop Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, St Lawrence County Indust Develop Agency Local Develop Corporation generated $736.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, St Lawrence County Indust Develop Agency Local Develop Corporation has awarded 77 individual grants totaling $2,362,355. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC AND BUSINESS DEVELOPMENT IN ST. LAWRENCE COUNTY BY ADMINISTERING A REVOLVING LOAN FUND, ISSUING BUSINESS DEVELOPMENT GRANTS, AND PROVIDING LOW COST ENERGY TO QUALIFYING AREA BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ECONOMIC AND BUSINESS DEVELOPMENT IN ST. LAWRENCE COUNTY BY ADMINISTERING A REVOLVING LOAN FUND, ISSUING BUSINESS DEVELOPMENT GRANTS, AND PROVIDING LOW COST ENERGY TO QUALIFYING AREA BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Kelly Board Member - Gmedf | OfficerTrustee | 1 | $3,372 |
Ernest Labaff Vice-Chairman | OfficerTrustee | 1 | $0 |
Lynn Blevins Secretary | OfficerTrustee | 1 | $0 |
Brian W Staples CPA Chairman | OfficerTrustee | 1 | $0 |
Kimberly Gilbert Chief Financial Officer | Officer | 1 | $0 |
Steve Hunt Board Member - Gmedf | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $500,359 |
| 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 | $500,359 |
| Total Program Service Revenue | $226,367 |
| Investment income | $9,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $471 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $736,257 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $759,823 |
| 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. | $3,372 |
| Compensation of current officers, directors, key employees. | $3,372 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $341 |
| Payroll taxes | $7,441 |
| Fees for services: Management | $207,200 |
| Fees for services: Legal | $9,375 |
| Fees for services: Accounting | $16,526 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,705 |
| Advertising and promotion | $17,499 |
| Office expenses | $411 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,122 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,058 |
| Insurance | $7,894 |
| All other expenses | $0 |
| Total functional expenses | $1,188,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,425,356 |
| Pledges and grants receivable | $25,018 |
| Accounts receivable, net | $6,736 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,343,930 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $302,644 |
| Investments—publicly traded securities | $718,384 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,906 |
| Total assets | $15,837,974 |
| Accounts payable and accrued expenses | $27,478 |
| 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 | $0 |
| Total liabilities | $27,478 |
| Net assets without donor restrictions | $421,078 |
| Net assets with donor restrictions | $15,389,418 |
| 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 | $15,837,974 |
Grants Awarded
Over the last fiscal year, St Lawrence County Indust Develop Agency Local Develop Corporation has awarded $749,893 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Canton, NY PURPOSE: STAR LAKE PROPERTY AND NEWELL BUILDING REHABILITATION | $554,133 |
Massena, NY PURPOSE: SUMMER PROGRAM/AC INSTALL | $50,000 |
VILLAGE OF POTSDAM PURPOSE: CROSS TOWN CANAL SYSTEM | $35,311 |
TOWN OF LOUISVILLE PURPOSE: REVIVE MASSENA COUNTRY CLUB GOLF TO THE RIVER COURSE | $20,000 |
TOWN OF MASSENA PURPOSE: DOG TRAINING GROUNDS GRANT | $20,000 |
Potsdam, NY PURPOSE: PURCHASE 6-8 RAYMOND STREET | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anabaptist Financial Lewisburg, PA | $625,930,441 | $18,548,671 |
Tremont Credit Union Milton, MA | $244,401,139 | $9,907,662 |
One Credit Union Springfield, VT | $231,054,967 | $9,424,805 |
Connecticut Student Loan Foundtion Hartford, CT | $126,010,687 | $4,816,146 |
Friends Fiduciary Corporation Philadelphia, PA | $693,443,242 | $5,444,683 |
Provident Loan Society Of New York New York, NY | $16,413,058 | $4,285,682 |
The Diaper Bank Of Connecticut Inc North Haven, CT | $2,855,644 | $2,137,896 |
The Landmarks Financial Corporation Pittsburgh, PA | $163,255,408 | $14,945,748 |
Rent Reporter Inc New York, NY | $2,937,581 | $1,945,762 |
Neighborhood Housing Services Inc Pittsburgh, PA | $781,954 | $468,091 |
St Lawrence County Indust Develop Agency Local Develop Corporation Canton, NY | $15,837,974 | $736,257 |
Wistar Institute Ud Gen Fd 01626 00 Pittsburgh, PA | $11,726,420 | $671,349 |