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Mohawk Valley Economic Development District INC

Tax-deductible

Mohawk, NY501(c)(3)Since 1966Community Development EIN 16-0926180Revenue $1.3M in FY2025

On file with the IRSmvedd.orgPo Box 69, 13407-0069 · Mohawk, NYTax-exempt since Mar 1983Publicly supported charity — 170(b)(1)(A)(vi)

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To provide staff support to expand region and/or retain business/industry relocation within the region.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$101K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $68K a year · 5% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$101K
to officers and key staff · 8% of spending
Top officer’s pay lower than 80% of similar orgs
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $66K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$367K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
38
of 38 voting members
Looks good: 38 of 38 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+33% vs prior year
Spent
$1.2M
To programs
91%
Net assets
$2.1M
By yearFY2020–FY2025
Revenue
$1.3M
FY2025▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$1.3M
FY2022$761K
FY2023$995K
FY2024$961K
FY2025$1.3M
Expenses
$1.2M
FY2025▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$1.3M
FY2022$702K
FY2023$914K
FY2024$914K
FY2025$1.2M
Net assets
$2.1M
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$1.8M
FY2022$1.9M
FY2023$2.0M
FY2024$2.0M
FY2025$2.1M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1983.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.1M Management & general 9% · $114K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

39 people listed on the 990; $101K paid to officers and key staff.

Part VII, Section A · reportable compensation
Stephen Smith
Executive Director
$101,125Pt VII · Sec A
Jack Spaeth
President
$0Pt VII · Sec A
Alice Savino
Second Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Danny Lapin
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Sam Russo
Director
$0Pt VII · Sec A

Stephen Smith’s $101K as Executive Director is at the 20th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Stephen Smith$101,125$98,630$96,037$68,877$65,715$64,409
Dan Sullivan—————$3,380

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Mohawk Valley Economic Development District INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps businesses expand or relocate within the region by providing staff support.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2025
01

The purpose of the mohawk valley economic development district, inc. Is to work with local governments, municipalities, and small businesses with a common goal of economic development.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Community Foundation of Herkimer and Oneida Counties INCFY2021$66K
Total grants receivedfrom 1 funder$66K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$985K
Fees for servicesLn 2g$235K
Investment incomeLn 3$58K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$114K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$772K
Total assetsLn 16$2.5M
LiabilitiesLn 26$367K
PeoplePt VI, VII
39
listed · VII A
PaidVII A1
Voting boardVI 1a38
IndependentVI 1b38
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$985K
Government grantsLn 1e$985K
Fees for servicesLn 2g$235K
Investment incomeLn 3$58K
Other incomeLn 4–11$1K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$163K
SavingsLn 2$609K
Cash and savings togetherLn 1–2$772K
Land, buildings, equipmentLn 10c$20K
Total assetsLn 16$2.5M
LiabilitiesLn 26$367K
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 512
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$528K$772K
Land, buildings, equipmentLn 10c$22K$20K
Total assetsLn 16$2.2M$2.5M
LiabilitiesLn 26$190K$367K
Net assetsLn 32$2.0M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$101K$86K$15K
Other salaries and wagesLn 7$424K$360K$64K
Other employee benefitsLn 9$92K$78K$14K
Payroll taxesLn 10$40K$34K$6K
Legal feesLn 11b$2K$1K$236
Accounting feesLn 11c$14K$11K$2K
Advertising and promotionLn 12$1K$1K$220
Office expensesLn 13$31K$26K$5K
OccupancyLn 16$10K$8K$1K
Conferences, conventions and meetingsLn 19$12K$10K$2K
Depreciation, depletion and amortizationLn 22$6K$5K$881
InsuranceLn 23$15K$13K$2K
Other expenses (24a–d)Ln 24$457K$455K$2K
All other expensesLn 24e$575$489$86
Total functional expensesLn 25$1.2M$1.1M$114K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.3M$1.2M$74K$2.1M 990 PDF
FY2024 $961K$914K$47K$2.0M 990 PDF
FY2023 $995K$914K$80K$2.0M 990 PDF
FY2022 $761K$702K$59K$1.9M 990 PDF
FY2021 $1.3M$1.3M$31K$1.8M 990 PDF
FY2020 $2.9M$2.8M$119K$1.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,279,255 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $763,894$984,971
I-9 Program service revenuePrior year $141,990$235,000
I-10 Investment incomePrior year $40,679$58,276
I-11 Other revenuePrior year $14,493$1,008
I-12 Total revenuePrior year $961,056$1,279,255
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $677,183$657,280
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $236,975$547,710
I-18 Total expensesPrior year $914,158$1,204,990
I-19 Revenue less expensesPrior year $46,898$74,265
Part VI · Governance 38 of 38 board members independent, no flags
VI-1a Voting members of the governing body38
VI-1b Independent voting members38
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,279,255 across 6 lines filed
VIII-1e Government grants$984,971
VIII-1h Total contributions, gifts and grants$984,971
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $235,000$235,000
VIII-3 Investment incomeRelated to mission $58,276$58,276
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,008$1,008
VIII-12 Total revenueRelated to mission $59,284 · Unrelated business $0 · Excluded from tax $235,000$1,279,255
Part IX · Statement of functional expenses $1,204,990 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $85,956 · Management $15,168$101,124
IX-7 Other salaries and wagesPrograms $360,418 · Management $63,603$424,021
IX-9 Other employee benefitsPrograms $78,114 · Management $13,784$91,898
IX-10 Payroll taxesPrograms $34,202 · Management $6,035$40,237
IX-11b Legal feesPrograms $1,339 · Management $236$1,575
IX-11c Accounting feesPrograms $11,475 · Management $2,025$13,500
IX-12 Advertising and promotionPrograms $1,248 · Management $220$1,468
IX-13 Office expensesPrograms $26,478 · Management $4,669$31,147
IX-16 OccupancyPrograms $8,160 · Management $1,440$9,600
IX-19 Conferences, conventions and meetingsPrograms $9,951 · Management $1,756$11,707
IX-22 Depreciation, depletion and amortizationPrograms $4,995 · Management $881$5,876
IX-23 InsurancePrograms $12,875 · Management $2,271$15,146
IX-24 Other expenses (24a–d)Programs $455,126 · Management $1,990$457,116
IX-24e All other expensesPrograms $489 · Management $86$575
IX-25 Total functional expensesPrograms $1,090,826 · Management $114,164 · Fundraising $0$1,204,990
Part X · Balance sheet $2,472,201 assets, 10 lines filed
Asset lines not itemized here account for $1,198,968; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $19,982$163,402
X-2 Savings and temporary cash investmentsStart of year $507,955$609,090
X-4 Accounts receivableStart of year $444,786$480,792
X-10c Land, buildings and equipment, netStart of year $21,745$19,949
X-16 Total assetsStart of year $2,220,425$2,472,201
X-17 Accounts payable and accrued expensesStart of year $189,538$367,049
X-26 Total liabilitiesStart of year $189,538$367,049
X-27 Net assets without donor restrictionsStart of year $2,030,887$2,105,152
X-32 Total net assets or fund balancesStart of year $2,030,887$2,105,152
X-33 Total liabilities and net assetsStart of year $2,220,425$2,472,201
Part XI · Reconciliation of net assets $2,105,152 net assets at year end
XI-1 Total revenue$1,279,255
XI-2 Total expenses$1,204,990
XI-3 Revenue less expenses$74,265
XI-4 Net assets at start of year$2,030,887
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,105,152

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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