Finger Lakes Community Development Corporation
- Assets
- $2.7m
- Revenue
- $736.5k
- Investments
- $0.0
- Employees
- 18
- Location
- Geneva, NY
- Founding
- 08/1999
- Data as of
- 12/2023
- EIN
- 16-1561999
Organization Overview
Finger Lakes Community Development Corporation is located in Geneva, NY. The organization was established in 1999. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Finger Lakes Community Development Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finger Lakes Community 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, Finger Lakes Community Development Corporation generated $736.5k 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 (12.9%) each year. All expenses for the organization totaled $777.8k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC NEED/LOW-INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, UNDER SECTION 231 OF THE NATIONAL HOUSING ACT FOR THE BENEFIT OF LOW-INCOME HOUSING FOR THE ELDERLY AND HANDICAPPED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dominick Vedora President | OfficerTrustee | 5 | $0 |
John Parrott Jr Secretary | OfficerTrustee | 5 | $0 |
James Vedora Treasurer | OfficerTrustee | 5 | $0 |
Lucile Mallard Director | Trustee | 2 | $0 |
Joe Cirencione Director | Trustee | 2 | $0 |
Phil Beckley Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $735,949 |
| Investment income | $522 |
| 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 | $736,471 |
| 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 | $551,137 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $42,200 |
| Fees for services: Management | $68,047 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,225 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,456 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,658 |
| Insurance | $12,695 |
| All other expenses | $20,098 |
| Total functional expenses | $777,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,318 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $386,603 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $165,141 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,088 |
| Net Land, buildings, and equipment | $1,719,232 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $439,783 |
| Total assets | $2,716,165 |
| Accounts payable and accrued expenses | $9,956 |
| 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 | $189,737 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $75,900 |
| Total liabilities | $275,593 |
| Net assets without donor restrictions | $2,440,572 |
| 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 | $2,716,165 |