Greater Syracuse Property Development Corporation
- Assets
- $6.0m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Syracuse, NY
- Founding
- 08/2014
- Data as of
- 12/2017
- EIN
- 46-2382007
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.
Form
990
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vito Sciscioli Chair | Officer | 2 | $0 |
Daniel Barnaba Treasurer | Officer | 3 | $0 |
Julie Cerio Secretary | Officer | 2 | $0 |
James Corbett Vice Chair | Officer | 2 | $0 |
El-Java Abdul-Qadir Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Home Headquarters Inc Property Demolition And Renovation | 12/30/16 | $1,851,657 |
Mns Pro Companies Inc Property Maintenance | 12/30/16 | $152,858 |
Dee's Property Maintenance Llc Property Maintenance | 12/30/16 | $101,386 |
Ultraclean Inc Property Deconstruction | 12/30/16 | $846,139 |
Onondaga County Community Development Property Demolition And Renovation | 12/30/16 | $170,848 |
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 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $350,332 |
| Pension plan accruals and contributions | $14,421 |
| Other employee benefits | $41,476 |
| Payroll taxes | $28,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,785 |
| Fees for services: Accounting | $71,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,868 |
| Advertising and promotion | $12,576 |
| Office expenses | $25,191 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,976 |
| Travel | $8,730 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,205 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,441 |
| Insurance | $277,947 |
| All other expenses | $0 |
| Total functional expenses | $4,025,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,150,534 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,030 |
| Accounts receivable, net | $675 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $805,007 |
| Prepaid expenses and deferred charges | $75,934 |
| Net Land, buildings, and equipment | $9,514 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,042,694 |
| Accounts payable and accrued expenses | $825,375 |
| Grants payable | $0 |
| Deferred revenue | $450,992 |
| 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 | $14,001 |
| Total liabilities | $1,290,368 |
| Unrestricted restricted net Assets | $4,742,812 |
| Temporarily restricted net Assets | $9,514 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $4,752,326 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Greater Syracuse Property Development Corporation has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Third Sector Capital Partners Inc Boston, MA | $27,345,891 | $27,551,770 |
Buffalo Civic Auto Ramps Inc Buffalo, NY | $1,499,927 | $7,888,664 |
Pocono Services For Families And Children Inc East Stroudsburg, PA | $5,666,674 | $5,697,584 |
Data & Society Research Institute New York, NY | $10,624,558 | $3,287,575 |
Bend The Arc Jewish Action Inc New York, NY | $2,917,123 | $4,796,081 |
Build Commonwealth Inc Boston, MA | $4,562,136 | $1,917,151 |
Greater Syracuse Property Development Corporation Syracuse, NY | $6,042,694 | $3,813,121 |
East Mid-Manhattan District Management Association Inc New York, NY | $3,778,894 | $3,534,351 |
New York 811 Inc Bohemia, NY | $4,587,897 | $3,122,927 |
Boston Public Market Boston, MA | $10,519,355 | $1,304,589 |
Catholic Investment Services Inc Boston, MA | $1,253,675 | $2,110,461 |
New York State Local Government Services Foundation Inc Albany, NY | $314,574 | $1,870,171 |