Lumber City Local Development
- Assets
- $1.2m
- Revenue
- $714.9k
- Investments
- $0.0
- Employees
- 1
- Location
- North Tonawanda, NY
- Founding
- 07/2005
- Data as of
- 12/2022
- EIN
- 20-1170011
Organization Overview
Lumber City Local Development is located in North Tonawanda, NY. The organization was established in 2005. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Lumber City Local Development 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, Lumber City Local Development generated $714.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $356.9k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCIPAL PURPOSE OF THE CORPORATION IS TO AID THE EFFORTS OF THE CITY OF NORTH TONAWANDA'S ECONOMIC DEVELOPMENT PROGRAM. THE CORPORATION ADMINISTERS LOANS PROGRAMS TO CREATE FAVORABLE CONDITIONS FOR CITY ENTERPRISES FOR THE EXPANSION OR LOCATION OF BUSINESS ENGAGED IN THE MANUFACTURE, ASSEMBLING, OR WHOLESALING OF GOODS OR ENGAGED IN THE RETAILING OF GOODS OR SERVICES. IT PROVIDES FOR THE FINANCING OF FIXED ASSETS OR WORKING CAPITAL, WHERE THE CAPITAL WILL ASSIST IN CREATING EMPLOYMENT OPPORTUNITIES FOR PERSONS OF LOW AND MODERATE INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alecia Zimmerman Administrator | Officer | 40 | $22,711 |
Laura Kee Wilson Executive Director | Officer | 40 | $14,400 |
Andrea Moreau Treasurer | OfficerTrustee | 5 | $0 |
Douglas P Taylor Chairman | OfficerTrustee | 5 | $0 |
David E Gross Vice Chairman | OfficerTrustee | 5 | $0 |
Garry Krause Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $690,946 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,413 |
| Total Program Service Revenue | $11,869 |
| Investment income | $96 |
| 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 | $714,866 |
| 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. | $14,400 |
| Compensation of current officers, directors, key employees. | $3,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,711 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,305 |
| Payroll taxes | $1,272 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,350 |
| 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 | $5,225 |
| Advertising and promotion | $6,205 |
| Office expenses | $4,739 |
| 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 | $1,262 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93 |
| Insurance | $4,119 |
| All other expenses | $0 |
| Total functional expenses | $356,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $392,463 |
| Savings and temporary cash investments | $304,746 |
| Pledges and grants receivable | $36,458 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $468,090 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,264 |
| 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 | $1,205,021 |
| Accounts payable and accrued expenses | $20,063 |
| 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 | $20,063 |
| Net assets without donor restrictions | $1,184,958 |
| 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 | $1,205,021 |
Grants Awarded
Over the last fiscal year, Lumber City Local Development has awarded $241,902 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CANAL CLUB 62 PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $35,000 |
ACTIVE HOSE CO NO 2 PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $31,850 |
DWYERS IRISH PUB PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $29,748 |
WITTERS SPORT BAR & GRIL PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $25,000 |
JOSEPH HANULA PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $23,165 |
JIM HENSEL PURPOSE: ECONOMIC DEVELOPMENT OF NORTH TONAWANDA | $23,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lumber City Local Development has recieved totaling $17,467.
| Awarding Organization | Amount |
|---|---|
Grigg Lewis Foundation Inc Lockport, NY PURPOSE: HISTORY AND TOURISM | $10,000 |
Erie Canalway Heritage Fund Inc Waterford, NY PURPOSE: SUPPORT MISSION | $7,467 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
St Nicks Alliance Corp Brooklyn, NY | $44,353,994 | $35,596,992 |
National Council For Community Development Inc Brooklyn, NY | $24,193,687 | $38,165,020 |
The Community Action Organization Of Western New York Inc Buffalo, NY | $11,956,609 | $31,001,421 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |