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Sugar Hill Development Corp

Tax-deductible

Alfred Sta, NY501(c)(3)Community Development EIN 16-1462402Revenue −$173K in FY2024

On file with the IRSPo Box 177, 14803-0177 · Alfred Sta, NYTax-exempt since Mar 1995Publicly supported charity — 170(b)(1)(A)(vi)

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To encourage location and expansion of industrial and manufacturing capacity in the community and the creation of new and improved job opportunities

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $36K a year · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
6360 mo
of spending, in cash
Looks good: 6360.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$173K
-8630550% vs prior year
Spent
$251
To programs
0%
Net assets
$126K
By yearFY2020–FY2024
Revenue
−$173K
FY2024▼ -8630550%
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$3
FY2022$3
FY2023$2
FY2024−$173K
Expenses
$251
FY2024▲ +66%
Tap a bar for its year
Expenses by fiscal year
FY2020$1K
FY2021$2K
FY2022$1K
FY2023$151
FY2024$251
Net assets
$126K
FY2024▼ -58%
Tap a bar for its year
Net assets by fiscal year
FY2020$303K
FY2021$300K
FY2022$299K
FY2023$299K
FY2024$126K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1995.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $251

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Charles Jessup
Secretary/Tr
$0Pt VII · Sec A
Robert Heineman
Board Member
$0Pt VII · Sec A
William Hall
Board Member
$0Pt VII · Sec A
Larry Shilling
Board Member
$0Pt VII · Sec A
Kevin Laforge
Board Member
$0Pt VII · Sec A
See Sugar Hill Development Corp 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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Attracts and grows businesses to create better jobs in the community.

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1 program · in their own filed words · FY2024
01

Development and operation of an industrial park

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$173K
Ln 12
Investment incomeLn 3$7
Money outPt IX
$251
Ln 25
Managementcol C$251
Owns and owesPt X
$126K
net assets · Ln 32
Cash and savingsLn 1–2$133K
Total assetsLn 16$133K
LiabilitiesLn 26$7K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$7
Gains on assetsLn 7−$173K
Total revenueLn 12−$173K
Assets in detailPt X, end of year
CashLn 1$133K
Cash and savings togetherLn 1–2$133K
Total assetsLn 16$133K
LiabilitiesLn 26$7K
Net assetsLn 32$126K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$28K$133K
Total assetsLn 16$308K$133K
LiabilitiesLn 26$9K$7K
Net assetsLn 32$299K$126K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$100$100
Other expenses (24a–d)Ln 24$151$151
Total functional expensesLn 25$251$0$251$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing −$173K$251−$173K$126K 990 PDF
FY2023 $2$151−$149$299K 990 PDF
FY2022 $3$1K−$1K$299K 990 PDF
FY2021 $3$2K−$2K$300K 990 PDF
FY2020 $0$1K−$1K$303K 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 FY2024 990 (6 parts)
Part I · Summary −$172,609 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $2−$172,609
I-11 Other revenue$0
I-12 Total revenuePrior year $2−$172,609
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $151$251
I-18 Total expensesPrior year $151$251
I-19 Revenue less expensesPrior year −$149−$172,860
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue −$172,609 across 3 lines filed
VIII-3 Investment incomeRelated to mission $7$7
VIII-7 Net gain or loss on sales of assetsRelated to mission −$172,616−$172,616
VIII-12 Total revenueRelated to mission −$172,609−$172,609
Part IX · Statement of functional expenses $251 across 2 lines filed
IX-16 OccupancyManagement $100$100
IX-24 Other expenses (24a–d)Management $151$151
IX-25 Total functional expensesPrograms $0 · Management $251 · Fundraising $0$251
Part X · Balance sheet $133,036 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $27,775$133,036
X-16 Total assetsStart of year $308,396$133,036
X-26 Total liabilitiesStart of year $9,463$6,963
X-27 Net assets without donor restrictionsStart of year $298,933$126,073
X-32 Total net assets or fund balancesStart of year $298,933$126,073
X-33 Total liabilities and net assetsStart of year $308,396$133,036
Part XI · Reconciliation of net assets $126,073 net assets at year end
XI-1 Total revenue−$172,609
XI-2 Total expenses$251
XI-3 Revenue less expenses−$172,860
XI-4 Net assets at start of year$298,933
XI-10 Net assets at end of year$126,073

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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