Cohoes Local Development Corporation
- Assets
- $428.4k
- Revenue
- $47.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Cohoes, NY
- Founding
- 11/2003
- Data as of
- 12/2022
- 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 12/2022, Cohoes Local Development Corporation generated $47.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (19.7%) each year. All expenses for the organization totaled $111.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Cohoes Local Development Corporation has awarded 13 individual grants totaling $325,557. 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
2022
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 |
|---|---|---|---|
Barbara Hildreth President | OfficerTrustee | $0 | |
Evan Lamb Treasurer | OfficerTrustee | $0 | |
Karen Miscavage Vice Preside | OfficerTrustee | $0 | |
Stephen Napier Secretary | OfficerTrustee | $0 | |
Jeffrey Bradt Director | Trustee | $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 | $22,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,800 |
| Total Program Service Revenue | $24,977 |
| 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 | $47,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,466 |
| 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 | $3,520 |
| Fees for services: Accounting | $16,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,043 |
| Office expenses | $2,174 |
| 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 | $0 |
| Total functional expenses | $111,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,430 |
| 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 | $79,125 |
| 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 | $428,398 |
| Accounts payable and accrued expenses | $280 |
| 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 | $280 |
| Net assets without donor restrictions | $428,118 |
| 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 | $428,398 |
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 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cohoes Local Development Corporation has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Erie Canalway Heritage Fund Inc Waterford, NY PURPOSE: Support Mission | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |