Wyoming County Business Center Inc
- Assets
- $857.0k
- Revenue
- $87.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Warsaw, NY
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 01-0871002
Organization Overview
Wyoming County Business Center Inc is located in Warsaw, NY. The organization was established in 2007. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wyoming County Business Center Inc 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, Wyoming County Business Center Inc generated $87.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $80.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION'S MISSION IS TO FOSTER THE CREATION RETENTION AND EXPANSION OF ECONOMIC OPPORTUNITIES FOR THE BENEFIT OF THE STATE COUNTY AND LOCAL ECONOMIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES; MONEY SPENT TO PROMOTE ECONOMIC DEVELOPMENT OF WYOMING COUNTY NEW YORK THAT WILL INCLUDE REAL ESTATE DEVELOPMENT AND MANAGEMENT FUND RAISING BUSINESS LOAN ISSUANCE AND ADMINISTRATION REGIONAL MARKETING AND PROMOTION AND OTHER COMMUNITY BASED ECONOMIC DEVELOPMENT ACTIVITIES PERMISSIBLE UNDER THE NOT-FOR-PROFIT LAW.
PROGRAM EXPENSES AND REVENUE FOR THE FASTTRAC NEW VENTURE ENTREPRENEURSHIP TRAINING PROGRAM TO ENCOURAGE PROMOTE AND GIVE SUPPORT TO LOCAL ENTREPRENEURS AND SMALL BUSINESS OWNERS.
PROGRAM EXPENSES AND REVENUE FOR THE BUSINESS ACCELERATOR AND MENTORSHIP PROGRAMS ESTABLISHED TO PROVIDE TECHNICAL AND EXPERT ADVISE TO EXISTING BUSINESS OWNERS LOOKING TO EXPAND AND DIVERSIFY THEIR BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Fish Chairman | OfficerTrustee | 1 | $0 |
Samuel Gullo Vice-Chairman | OfficerTrustee | 1 | $0 |
Jeremy Satchell Treasurer | OfficerTrustee | 1 | $0 |
Daniel Leuer Secretary | OfficerTrustee | 1 | $0 |
James Brick Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $56,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,000 |
| Noncash contributions included in lines 1a–1f | $2,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,000 |
| Total Program Service Revenue | $29,240 |
| Investment income | $328 |
| 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 | $87,568 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $20,000 |
| Fees for services: Legal | $17,881 |
| Fees for services: Accounting | $8,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $713 |
| Advertising and promotion | $7,501 |
| Office expenses | $318 |
| Information technology | $361 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $144 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $402 |
| All other expenses | $0 |
| Total functional expenses | $80,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,047 |
| Savings and temporary cash investments | $340,683 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,115 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $410,152 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $856,997 |
| Accounts payable and accrued expenses | $444 |
| Grants payable | $0 |
| Deferred revenue | $10,637 |
| 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 | $11,081 |
| Net assets without donor restrictions | $845,916 |
| Net assets with donor restrictions | $0 |
| 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 | $856,997 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wyoming County Business Center Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: SMALL BUSINESS ACCELERATOR ACADEMY | $5,000 |
Endowment Analysis
| Beg. Balance | $5,354 |
| Admin Expense | $5,354 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |
Loring Wolcott & Coolidge Charitable Tr - I Boston, MA | $103,000 | $4,276,644 |
Rosenkranz Foundation Inc New York, NY | $20,933,111 | $6,809,267 |
Llewellyn Family Foundation New York, NY | $59,134,047 | $5,278,479 |