Greater Syracuse Property Development Corporation

Organization Overview

Greater Syracuse Property Development Corporation, operating under the name Greater Syracuse Land Bank, is located in Syracuse, NY. The organization was established in 2014. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2017, Greater Syracuse Land Bank employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Syracuse Land Bank 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 12/2017, Greater Syracuse Land Bank generated $3.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (9.1%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2017

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION'S MISSION IS TO ADDRESS THE PROBLEMS OF VACANT, ABANDONED, OR TAX DELINQUENT PROPERTY IN THE CITY OF SYRACUSE AND THE COUNTY OF ONONDAGA IN A COORDINATED MANNER THROUGH THE ACQUISITION OF REAL PROPERTY PURSUANT TO NEW YORK NOT-FOR-PROFIT CORPORATIONS LAW SECTION 1608 AND RETURNING THAT PROPERTY TO PRODUCTIVE USE IN ORDER TO STRENGTHEN THE ECONOMY, IMPROVE THE QUALITY OF LIFE, AND IMPROVE THE FINANCIAL CONDITION OF THE MUNICIPALITIES, THROUGH THE USE OF THE POWERS AND TOOLS GRANTED TO LAND BANKS BY THE LAWS OF THE STATE OF NEW YORK.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION ACQUIRED 170 PROPERTIES DURING THE YEAR VIA MUNICIPAL TAX-FORCLOSURE, DONATION, AND PURCHASE. UPON ACQUISITION, THE ORGANIZATION'S MAINTENANCE CONTRACTOR EVALUATED EACH PROPERTY, ADDRESSED ANY SAFETY HAZARDS, AND REPORTED ITS CONDITION BACK TO THE ORGANIZATION. BASED ON THIS INFORMATION ALONG WITH LOCATION, ADJACENT ACQUISITION OPPORTUNITIES AND REDEVELOPMENT PLANS, THE ORGANIZATION DEVELOPED A STRATEGY FOR EACH PROPERTY SUCH AS STABILIZATION, DEMOLITION, SELL AS-IS, LEASE, OR ASSEMBLE WITH ADJACENT PROPERTIES. ONCE A PROPERTY IS AVAILABLE FOR PURCHASE IT IS LISTED ON THE ORGANIZATION'S WEBSITE WHERE INTERESTED PARTIES CAN OBTAIN INSTRUCTIONS TO SUBMIT A PURCHASE APPLICATION. THE ORGANIZATION CONTINUOUSLY CARRIED OUT DAY-TO-DAY MAINTENANCE AND PERIODIC INSPECTIONS ON EACH PROPERTY IN ITS POSSESSION. AS OF THE END OF 2017 THE ORGANIZATION HAD APPROXIMATELY 67 PROPERTIES AVAILABLE FOR PURCHASE ON ITS WEBSITE, AND 146 PROPERTIES WERE SOLD.IN 2017 THE LAND BANK FACILITATED THE DEMOLITION OF 67 DILAPIDATED AND HAZARDOUS ABANDONED STRUCTURES. IN ADDITION, THEY OBTAINED GRANT FUNDING FROM THE OFFICE OF THE NY ATTORNEY GENERAL TO RENOVATE HOMES FOR LOW-INCOME OWNER OCCUPANTS AND, WITH THEIR CO-DEVELOPMENT PARTNER, COMPLETED THE RENOVATION OF 7 OF THESE HOMES IN 2017.


NEIBHBORS 4 NEIGHBORHOODS IS A PROGRAM THAT FUNDS 80% OF THE COST OF RENOVATIONS, DISCOUNTING RENOVATED PROPERTIES FOR NEARBY OWNER OCCUPANTS TO PURCHASE AND MANAGE RENTAL PROPERTIES IN THEIR OWN NEIGHBORHOOD.


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Board, Officers & Key Employees

Name (title)Compensation
Vito Sciscioli
Chair
$0
Julie Cerio
Secretary
$0
James Corbett
Vice Chair
$0
Daniel Barnaba
Treasurer
$0
El-Java Abdul-Qadir
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Home Headquarters Inc
Property Demolition And Renovation
$1,851,657
Mns Pro Companies Inc
Property Maintenance
$152,858
Ultraclean Inc
Property Deconstruction
$846,139
Dee's Property Maintenance Llc
Property Maintenance
$101,386
Onondaga County Community Development
Property Demolition And Renovation
$170,848
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,994,523
All other contributions, gifts, grants, and similar amounts not included above$252,914
Noncash contributions included in lines 1a–1f $80,000
Total Revenue from Contributions, Gifts, Grants & Similar$2,247,437
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $44,185
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 $1,501,144
Miscellaneous Revenue$0
Total Revenue $3,813,121

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Greater Syracuse Property Development Corporation has recieved totaling $60,000.

Awarding OrganizationAmount
The Dorothy And Marshall M Reisman Foundation

Dewitt, NY

PURPOSE: CONFERENCE ROOM DESIGN & CONSTRUCTION IN HISTORIC SOUTH PRESBYTERIAN CHURCH

$50,000
J M Mcdonald Foundation Inc

Wilmington, DE

PURPOSE: CONFERENCE ROOM DESIGN AND CONSTRUCTION FOR COMMUNITY USE IN HISTORIC SOUTH PRESBYTERIAN CHURCH

$10,000
View Grant Recipient Profile

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