Schoharie Economic Enterprise Corporation
- Assets
- $1.3m
- Revenue
- $496.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Schoharie, NY
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 83-3511645
Organization Overview
Schoharie Economic Enterprise Corporation is located in Schoharie, NY. The organization was established in 2019. According to its NTEE Classification (K50) the organization is classified as: Home Economics, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, Schoharie Economic Enterprise Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schoharie Economic Enterprise 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, Schoharie Economic Enterprise Corporation generated $496.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $424.9k 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
ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RETENTION AND EXPANSION (BR&E) - BR&E IS PROGRAMMING INTENDED TO HELP FOCUS THE ENERGIES OF COMMUNITY STAKEHOLDERS ON THE ECONOMIC ASSETS THAT ALREADY EXIST IN THE COUNTY, MAKING BUSINESSES STRONGER AND MORE RESILIENT OVER TIME. SEEC IS IDENTIFYING, DESIGNING, AND IMPLEMENTING STRATEGIES THAT CAN HELP STRENGTHEN EXISTING BUSINESSES AND INDUSTRIES THROUGH ITS BR&E EFFORTS.
FORUMS - SEEC PROSPERITY FORUMS ARE COHOSTED BY STRATEGIC ALLIANCES TO CULTIVATE COMMON GROUND, GENERATE CREATIVITY, DISCUSS POSSIBILITIES, FIND SOLUTIONS, AND MOBILIZE INVESTMENT IN SCHOHARIE COUNTY. SEEC HOSTS A SERIES OF FORUMS ANNUALLY TO ADVANCE ECONOMIC AND COMMUNITY VITALITY.
GRANT SUPPORT - SEEC IS FOCUSED ON SECURING MORE CAPITAL RESOURCES TO ADVANCE LOCAL ECONOMIC AND COMMUNITY DEVELOPMENT PRIORITIES. SEEC WILL WORK WITH BUSINESSES AND MUNICIPAL PARTNERS TO IDENTIFY, APPLY, AND ADMINISTER FEDERAL, STATE AND LOCAL GRANTS THAT MAY DIRECTLY RESULT IN JOB CREATION AND CAPITAL INVESTMENT. SEEC IS PREQUALIFIED AT THE STATE AND FEDERAL LEVEL AS AN APPROVED GRANT ADMINISTRATOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Pacatte Executive Dir. | Officer | 40 | $97,576 |
Thomas O Putnam Executive Chair | OfficerTrustee | 1 | $0 |
Eric H Stein Treasurer | OfficerTrustee | 1 | $0 |
Peter J Johnson Secretary | OfficerTrustee | 1 | $0 |
James R Becker Board Director | Trustee | 1 | $0 |
Stephen A Harris Board Director | Trustee | 1 | $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 | $360,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $360,020 |
| Total Program Service Revenue | $0 |
| Investment income | $67,838 |
| 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 | $496,573 |
| 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. | $109,576 |
| Compensation of current officers, directors, key employees. | $10,958 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,722 |
| Pension plan accruals and contributions | $12,709 |
| Other employee benefits | $16,828 |
| Payroll taxes | $17,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $457 |
| Fees for services: Accounting | $7,557 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,362 |
| Advertising and promotion | $29,895 |
| Office expenses | $8,163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,152 |
| Travel | $1,923 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,068 |
| Insurance | $6,502 |
| All other expenses | $14,619 |
| Total functional expenses | $424,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,006 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $4,431 |
| Net Land, buildings, and equipment | $350,354 |
| Investments—publicly traded securities | $696,166 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,266,957 |
| Accounts payable and accrued expenses | $36,480 |
| 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 | $36,480 |
| Net assets without donor restrictions | $1,105,477 |
| Net assets with donor restrictions | $125,000 |
| 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 | $1,266,957 |