Centerstate Corporation For Economic Opportunity
- Assets
- $14.9m
- Revenue
- $12.5m
- Investments
- $7.3m
- Employees
- 71
- Location
- Syracuse, NY
- Founding
- 06/2011
- Data as of
- 12/2021
- EIN
- 27-2620882
Organization Overview
Centerstate Corporation For Economic Opportunity is located in Syracuse, NY. The organization was established in 2011. 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. As of 12/2021, Centerstate Corporation For Economic Opportunity employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centerstate Corporation For Economic Opportunity is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Centerstate Corporation For Economic Opportunity generated $12.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $10.2m during the year ending 12/2021. While expenses have increased by 0.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BASED IN SYRACUSE, THE CENTERSTATE CORPORATION FOR ECONOMIC OPPORTUNITY IS A TWELVE-COUNTY BUSINESS LEADERSHIP AND ECONOMIC DEVELOPMENT ORGANIZATION. A PRIVATE, NOT-FOR-PROFIT ORGANIZATION, CENTERSTATE CEO REPRESENTS 2,000 MEMBERS AND SERVES AS THE REGION'S PRIMARY ECONOMIC, COMMUNITY AND BUSINESS DEVELOPMENT CATALYST. CENTERSTATE CEO WORKS TO ACHIEVE REGIONAL GROWTH AND TOTAL COMMUNITY PROSPERITY THROUGH PARTNERSHIPS, PLANNING AND PROBLEM SOLVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BASED IN SYRACUSE, THE CENTERSTATE CORPORATION FOR ECONOMIC OPPORTUNITY IS A TWELVE-COUNTY BUSINESS LEADERSHIP AND ECONOMIC DEVELOPMENT ORGANIZATION. A PRIVATE, NOT-FOR-PROFIT ORGANIZATION, CENTERSTATE CEO REPRESENTS 2,000 MEMBERS AND SERVES AS THE REGION'S PRIMARY ECONOMIC, COMMUNITY AND BUSINESS DEVELOPMENT CATALYST. CENTERSTATE CEO WORKS TO ACHIEVE REGIONAL GROWTH AND TOTAL COMMUNITY PROSPERITY THROUGH PARTNERSHIPS, PLANNING AND PROBLEM SOLVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Simpson President | OfficerTrustee | 1 | $256,232 |
Andrew Fish SVP Of Business Development | 1 | $124,080 | |
Amy Lawler SVP Of Finance | Officer | 1 | $121,205 |
Jeffrey Fuschberg Export Specialist | 1 | $112,924 | |
David Mankiewicz Senior Vice President | 1 | $111,467 | |
Stephen Fournier Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acc Technical Services It Support | 12/30/21 | $178,790 |
Qpk Design Architecture | 12/30/21 | $125,000 |
300 Block Llc Rent | 12/30/21 | $257,413 |
Cps Recruitment Inc Recruitment | 12/30/21 | $194,252 |
Fust Charles Chambers Accounting | 12/30/21 | $105,994 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $670,017 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,452,517 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,867,454 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,989,988 |
| Total Program Service Revenue | $1,988,723 |
| Investment income | $2,821,445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$60,681 |
| 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 | $12,463,193 |
| 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. | $457,695 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,320,263 |
| Pension plan accruals and contributions | $168,057 |
| Other employee benefits | $436,818 |
| Payroll taxes | $363,878 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,424 |
| Fees for services: Accounting | $73,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,042 |
| Advertising and promotion | $158,550 |
| Office expenses | $155,086 |
| Information technology | $206,095 |
| Royalties | $0 |
| Occupancy | $73,334 |
| Travel | $20,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,642 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $201,745 |
| Insurance | $49,950 |
| All other expenses | $97,828 |
| Total functional expenses | $10,176,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,996,764 |
| Savings and temporary cash investments | $1,493 |
| Pledges and grants receivable | $2,583,542 |
| Accounts receivable, net | $415,993 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $127,016 |
| Net Land, buildings, and equipment | $783,908 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,261,039 |
| Investments—program-related | $0 |
| Intangible assets | $24,000 |
| Other assets | $1,667,568 |
| Total assets | $14,861,323 |
| Accounts payable and accrued expenses | $538,696 |
| Grants payable | $0 |
| Deferred revenue | $2,274,691 |
| 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 | $3,880,635 |
| Total liabilities | $6,694,022 |
| Net assets without donor restrictions | $8,167,301 |
| 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 | $14,861,323 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Centerstate Corporation For Economic Opportunity has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
Central New York Community Foundation Inc Syracuse, NY PURPOSE: PROGRAM SUPPORT | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
The Mayors Fund To Advance New York City New York, NY | $28,518,749 | $18,611,480 |
Champlain Valley Office Of Economic Opportunity Inc Burlington, VT | $10,365,221 | $26,250,415 |
South Shore Community Action Council Inc Plymouth, MA | $12,504,709 | $24,231,175 |
Community Health Programs Inc Great Barrington, MA | $12,016,814 | $22,279,399 |