Cohoes Local Development Corporation
- Assets
- $379.8k
- Revenue
- $38.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Cohoes, NY
- Founding
- 11/2003
- Data as of
- 12/2023
- EIN
- 06-1658545
Organization Overview
Cohoes Local Development Corporation is located in Cohoes, NY. The organization was established in 2003. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cohoes Local Development 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 12/2023, Cohoes Local Development Corporation generated $38.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (19.8%) each year. All expenses for the organization totaled $87.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Cohoes Local Development Corporation has awarded 15 individual grants totaling $398,175. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATE EMPLOYMENT WITHIN CITY OF COHOES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLANNING, PROMOTION, COORDINATION, AND EXECUTION OF PROGRAMS IN THE CITY OF COHOES AIMED AT IMPROVING THE QUALITY OF LIFE, BY REDUCING UNEMPLOYMENT, PROVIDING EMPLOYMENT, AND MAINTAINING JOB OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Bonkoski Treasurer | OfficerTrustee | $0 | |
Jeffrey Bradt Director | Trustee | $0 | |
Barbara Hildreth President | OfficerTrustee | $0 | |
Karen Miscavage Vice Preside | OfficerTrustee | $0 | |
Stephen Napier Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,976 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,976 |
| Total Program Service Revenue | $3,083 |
| 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 | $38,059 |
| 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 | $6,000 |
| Fees for services: Legal | $12,457 |
| Fees for services: Accounting | $16,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $42,476 |
| Office expenses | $1,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $1,610 |
| All other expenses | $5,776 |
| Total functional expenses | $87,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,228 |
| 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 | $57,737 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $170,843 |
| Total assets | $379,808 |
| Accounts payable and accrued expenses | $680 |
| 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 | $680 |
| Net assets without donor restrictions | $379,128 |
| 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 | $379,808 |
Grants Awarded
Over the last fiscal year, Cohoes Local Development Corporation has awarded $30,840 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GRANTS OF 5000 AND LESS PURPOSE: FACADE GRANTS | $20,840 |
SWEET HAPPY DAYS PURPOSE: BUSINESS START UP | $10,000 |