Livingston County Development Corp
- Assets
- $1.5m
- Revenue
- $784.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Geneseo, NY
- Founding
- 08/2010
- Data as of
- 12/2016
- EIN
- 16-1426444
Organization Overview
Livingston County Development Corp is located in Geneseo, NY. The organization was established in 2010. 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. Livingston County Development Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE INVESTMENT BY THE PRIVATE SECTOR IN LIVINGSTON COUNTY, THE ORGANIZATION IS COMMITTED TO FOSTERING ECONOMIC GROWTH TO CREATE JOB OPPORTUNITIES FOR COUNTY RESIDENTS; GENERATING ADDITIONAL TAX REVENUES, AND DIVERSIFYING OUR TAX BASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST IN THE ESTABLISHMENT AND EXPANSION OF MICROENTERPRISE BUSINESS ACTIVITY, CREATE EMPLOYMENT OPPORTUNITIES AND PRESERVE THE LOCAL TAX BASE BY MAKING LOAN RECEIVABLES TO QUALIFIED BORROWERS. REVENUE IS GENERATED THROUGH LOAN PAYMENTS RECEIVED FROM BORROWERS. REVENUE IS ALSO GENERATED THROUGH VARIOUS PROGRAMS OFFERED BY THE ORGANIZATION TO ENHANCE ECONOMIC DEVELOPMENT IN THE COUNTY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Brooks Chairman | OfficerTrustee | 1 | $0 |
Gary Moore Vice Chairman | OfficerTrustee | 0.5 | $0 |
Steven Boscoe Treasurer | OfficerTrustee | 0.5 | $0 |
Robert Smith Secretary | Trustee | 0.5 | $0 |
Laura Lane Member | Trustee | 0.5 | $0 |
Eric Gott Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $705,153 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $717,843 |
| Total Program Service Revenue | $63,435 |
| Investment income | $3,561 |
| 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 | $784,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $416,340 |
| 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 | $48,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,069 |
| Payroll taxes | $3,641 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,601 |
| Fees for services: Accounting | $4,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,400 |
| Advertising and promotion | $27,753 |
| Office expenses | $3,046 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,440 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $125 |
| All other expenses | $900 |
| Total functional expenses | $760,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $862,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $43,000 |
| Accounts receivable, net | $8,698 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $581,838 |
| 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 | $0 |
| Total assets | $1,496,256 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $201,774 |
| 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 | $918 |
| Total liabilities | $202,692 |
| Unrestricted restricted net Assets | $720,087 |
| Temporarily restricted net Assets | $573,477 |
| 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 | $1,293,564 |