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Dunkirk Local Development Corporation FY2023 filing

Tax-deductible

Dunkirk, NY501(c)(3)Community DevelopmentEIN 16-1520256Revenue $196K in FY2023

On file with the IRS342 Central Ave, 14048-2122 · Dunkirk, NYTax-exempt since Jun 2017Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Dunkirk Local Development Corporation (dldc) is to ensure the long-term viability of the city of Dunkirk by creating opportunities for economic and community Development.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
2 of 5
filings with a surplus
Average deficit $5K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$196K
-4% vs prior year
Spent
$222K
To programs
86%
Net assets
$177K
By yearFY2020–FY2024
Revenue
$196K
FY2023▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$31K
FY2021$102K
FY2022$205K
FY2023$196K
FY2024$286K
Expenses
$222K
FY2023▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$42K
FY2021$95K
FY2022$243K
FY2023$222K
FY2024$243K
Net assets
$177K
FY2023▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$234K
FY2021$241K
FY2022$203K
FY2023$177K
FY2024$220K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Jun 2017.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $191K Management & general 14% · $31K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Liz Cardona
Director
$0Pt VII · Sec A
Vincent Dejoy
Chair Person
$0Pt VII · Sec A
Ned Divine
Director
$0Pt VII · Sec A
Edward Hayes
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Dunkirk Local Development Corporation 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

Programs and updates

Creates economic and community development opportunities for long-term city viability.

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Provided by the organization

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2 programs · $191K · in their own filed words · FY2023
01

Festival and events to promote economic development by aiding the community by attracting new industry and lessening the burdens of government by acting in the public interest.

$178Kprogram expense
02

The farmers market was established to increase access to healthy, fresh and nutritious agricultural produce and products to the citizens of the city of dunkirk.

$13Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$196K
Ln 12
Gifts and grantsLn 1h$186K
Fees for servicesLn 2g$9K
Investment incomeLn 3$784
Money outPt IX
$222K
Ln 25
Programscol B$191K
Managementcol C$31K
Owns and owesPt X
$177K
net assets · Ln 32
Cash and savingsLn 1–2$78K
Total assetsLn 16$183K
LiabilitiesLn 26$5K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$186K
Government grantsLn 1e$45K
Fees for servicesLn 2g$9K
Investment incomeLn 3$784
Total revenueLn 12$196K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$55K
Cash and savings togetherLn 1–2$78K
Other assetsLn 15$70K
Total assetsLn 16$183K
LiabilitiesLn 26$5K
Net assetsLn 32$177K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2$88K$78K
Total assetsLn 16$204K$183K
LiabilitiesLn 26$511$5K
Net assetsLn 32$203K$177K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$29K$5K$24K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$4K$4K
OccupancyLn 16$2K$2K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$174K$174K
Total functional expensesLn 25$222K$191K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $286K$243K$43K$220K 990 PDF
FY2023 Viewing $196K$222K−$26K$177K 990 PDF
FY2022 $205K$243K−$38K$203K 990 PDF
FY2021 $102K$95K$7K$241K 990 PDF
FY2020 $31K$42K−$11K$234K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $196,166 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,000$186,475
I-9 Program service revenue$8,907
I-10 Investment incomePrior year $996$784
I-11 Other revenuePrior year $7,079$0
I-12 Total revenuePrior year $53,075$196,166
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 $91,007$221,837
I-18 Total expensesPrior year $91,007$221,837
I-19 Revenue less expensesPrior year −$37,932−$25,671
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $196,166 across 6 lines filed
VIII-1e Government grants$45,100
VIII-1f All other contributions, gifts and grants$141,375
VIII-1h Total contributions, gifts and grants$186,475
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,907$8,907
VIII-3 Investment incomeRelated to mission $784$784
VIII-12 Total revenueRelated to mission $9,691$196,166
Part IX · Statement of functional expenses $221,837 across 6 lines filed
IX-11g Other fees for servicesPrograms $5,000 · Management $24,448$29,448
IX-12 Advertising and promotionPrograms $6,394$6,394
IX-13 Office expensesPrograms $3,985$3,985
IX-16 OccupancyPrograms $1,784$1,784
IX-23 InsuranceManagement $6,365$6,365
IX-24 Other expenses (24a–d)Programs $173,861$173,861
IX-25 Total functional expensesPrograms $191,024 · Management $30,813 · Fundraising $0$221,837
Part X · Balance sheet $182,688 assets, 11 lines filed
Asset lines not itemized here account for $33,978; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $48,112$23,754
X-2 Savings and temporary cash investmentsStart of year $39,758$54,515
X-15 Other assetsStart of year $70,441$70,441
X-16 Total assetsStart of year $203,511$182,688
X-19 Deferred revenueStart of year $511$511
X-25 Other liabilities$4,848
X-26 Total liabilitiesStart of year $511$5,359
X-27 Net assets without donor restrictionsStart of year $118,041$91,586
X-28 Net assets with donor restrictionsStart of year $84,959$85,743
X-32 Total net assets or fund balancesStart of year $203,000$177,329
X-33 Total liabilities and net assetsStart of year $203,511$182,688
Part XI · Reconciliation of net assets $177,329 net assets at year end
XI-1 Total revenue$196,166
XI-2 Total expenses$221,837
XI-3 Revenue less expenses−$25,671
XI-4 Net assets at start of year$203,000
XI-10 Net assets at end of year$177,329

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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