Sullivan County Land Bank Corporation
- Assets
- $2.2m
- Revenue
- $617.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Monticello, NY
- Founding
- 02/2018
- Data as of
- 12/2021
- EIN
- 82-0939626
Organization Overview
Sullivan County Land Bank Corporation is located in Monticello, NY. The organization was established in 2018. 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. Sullivan County Land Bank 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 12/2021, Sullivan County Land Bank Corporation generated $617.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 43.9% each year . All expenses for the organization totaled $154.2k during the year ending 12/2021. 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
THE LAND BANK WAS FORMED TO UNDERTAKE, PROMOTE, AND FACILITATE THE RETURN OF VACANT, ABANDONED, AND TAX-DELINQUENT PROPERTIES TO PRODUCTIVE USE IN ORDER TO ELIMINATE THE HARMS AND LIABILITIES CAUSED BY SUCH PROPERTIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO UNDERTAKE, PROMOTE, AND FACILITATE THE RETURN OF VACANT, ABANDONED, AND TAX-DELINQUENT PROPERTIES TO PRODUCTIVE USE IN ORDER TO ELIMINATE THE HARMS AND LIABILITIES CAUSED BY SUCH PROPERTIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Freda Eisenberg Chair | OfficerTrustee | 3 | $0 |
George Nikolados Treasurer | OfficerTrustee | 3 | $0 |
Anna Milucky Secretary | OfficerTrustee | 3 | $0 |
Jacqueline Leventoff Vice Chair | OfficerTrustee | 3 | $0 |
Jill M Weyer Executive Director | Officer | 12 | $0 |
Nancy Buck Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,147 |
| All other contributions, gifts, grants, and similar amounts not included above | $591,786 |
| Noncash contributions included in lines 1a–1f | $99 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $600,933 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,700 |
| 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 | $9,057 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $617,690 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,478 |
| Fees for services: Accounting | $20,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,125 |
| Advertising and promotion | $99 |
| Office expenses | $2,703 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $99 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,180 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $488 |
| Insurance | $56,293 |
| All other expenses | $0 |
| Total functional expenses | $154,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,253 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,392 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,736,180 |
| Prepaid expenses and deferred charges | $5,438 |
| Net Land, buildings, and equipment | $974 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,000 |
| Total assets | $2,225,237 |
| Accounts payable and accrued expenses | $11,582 |
| Grants payable | $0 |
| Deferred revenue | $24,780 |
| 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 | $285,000 |
| Other liabilities | $0 |
| Total liabilities | $321,362 |
| Net assets without donor restrictions | $1,903,875 |
| 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 | $2,225,237 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Sullivan County Land Bank Corporation has recieved totaling $722,000.
| Awarding Organization | Amount |
|---|---|
Enterprise Community Partners Inc Columbia, MD PURPOSE: COMMUNITY PRESERVATION AND DEVELOPMENT | $349,750 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: COMMUNITY PRESERVATION AND DEVELOPMENT | $349,750 |
Musser Fund Milwaukee, WI PURPOSE: GENERAL OPERATING | $10,000 |
Preservation League Of New York State Albany, NY PURPOSE: YEAGER MANSION/SPANISH MANSION | $5,000 |
Preservation League Of New York State Albany, NY PURPOSE: YEAGER MANSION/SPANISH MANSION | $5,000 |
Gerry Foundation Inc Liberty, NY PURPOSE: HEALTHY COMMUNITY INITIATIVES | $2,500 |
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 |