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Tompkins County Area Development INC FY2022 filing

Not tax-deductible

Ithaca, NY501(c)(6)Mutual / membership EIN 16-6058339Revenue $830K in FY2022

On file with the IRSithacaareaed.org119 E Seneca St Ste 200, 14850-4359 · Ithaca, NYTax-exempt since Jan 1994

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Building a thriving and sustainable economy that improves the quality of life in Tompkins County by fostering the growth of business and employment.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$158K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 surplus $170K a year · 13% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$158K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
32 mo
of spending, in cash
Looks good: 31.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $18K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$745K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$830K
-0.6% vs prior year
Spent
$991K
Net assets
$3.5M
By yearFY2020–FY2024
Revenue
$830K
FY2022▼ -0.6%
Tap a bar for its year
Revenue by fiscal year
FY2020$986K
FY2021$835K
FY2022$830K
FY2023$2.7M
FY2024$1.4M
Expenses
$991K
FY2022▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$934K
FY2021$934K
FY2022$991K
FY2023$1.3M
FY2024$1.6M
Net assets
$3.5M
FY2022▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.7M
FY2021$3.6M
FY2022$3.5M
FY2023$4.8M
FY2024$4.6M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1994.

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

Who runs it and what they're paid

26 people listed on the 990; $158K paid to officers and key staff.

Part VII, Section A · reportable compensation
$157,616Pt VII · Sec A
$0Pt VII · Sec A
Cathy Hart
Vice Chair
$0Pt VII · Sec A
Chris Malcom
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ed Lavigne
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Greg Hartz
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Heather McDaniel$172,322$168,834$157,616$145,171$140,179

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 Tompkins County Area Development 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

Fosters business and employment growth to build a thriving economy and improve quality of life.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

To encourage and effect the location and expansion of local business, creation of job opportunities, and the betterment of individual and community prosperity within the county of tompkins, ny.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Ithaca CollegeFY2024$18K
Total grants receivedfrom 1 funder$18K
Grants paid · 1 grant · $243K · 2024–2024
SouthworksFY2024$242,501

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$830K
Ln 12
Fees for servicesLn 2g$779K
Other incomeLn 4–11$51K
Investment incomeLn 3$609
Money outPt IX
$991K
Ln 25
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$4.2M
LiabilitiesLn 26$745K
PeoplePt VI, VII
26
listed · VII A
PaidVII A1
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$779K
Investment incomeLn 3$609
Other incomeLn 4–11$51K
Total revenueLn 12$830K
Assets in detailPt X, end of year
CashLn 1$78K
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$2.6M
InvestmentsLn 11–13$78K
Land, buildings, equipmentLn 10c$25K
Other assetsLn 15$706K
Total assetsLn 16$4.2M
LiabilitiesLn 26$745K
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 57
VolunteersI 626
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 FY22End FY22
Cash and savingsLn 1–2$2.3M$2.6M
InvestmentsLn 11–13$78K$78K
Land, buildings, equipmentLn 10c$26K$25K
Total assetsLn 16$3.6M$4.2M
LiabilitiesLn 26$17K$745K
Net assetsLn 32$3.6M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$198K
Other salaries and wagesLn 7$294K
Pension plan contributionsLn 8$23K
Other employee benefitsLn 9$82K
Payroll taxesLn 10$35K
Legal feesLn 11b$11K
Accounting feesLn 11c$24K
Other fees for servicesLn 11g$93K
Advertising and promotionLn 12$74K
Office expensesLn 13$38K
OccupancyLn 16$73K
TravelLn 17$26K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$7K
Other expenses (24a–d)Ln 24$11K
Total functional expensesLn 25$991K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.4M$1.6M−$270K$4.6M 990 PDF
FY2023 $2.7M$1.3M$1.3M$4.8M 990 PDF
FY2022 Viewing $830K$991K−$161K$3.5M 990 PDF
FY2021 $835K$934K−$99K$3.6M 990 PDF
FY2020 $986K$934K$52K$3.7M 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 J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $830,075 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $816,741$778,509
I-10 Investment incomePrior year $772$609
I-11 Other revenuePrior year $17,948$50,957
I-12 Total revenuePrior year $835,461$830,075
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 $582,652$631,322
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $351,507$359,878
I-18 Total expensesPrior year $934,159$991,200
I-19 Revenue less expensesPrior year −$98,698−$161,125
Part VI · Governance 25 of 25 board members independent, no flags
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
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 $830,075 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $778,509$778,509
VIII-3 Investment incomeExcluded from tax $609$609
VIII-6 Net rental income or lossExcluded from tax $25,033$25,033
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $25,924$25,924
VIII-12 Total revenueRelated to mission $804,433 · Unrelated business $0 · Excluded from tax $25,642$830,075
Part IX · Statement of functional expenses $991,200 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$197,877
IX-7 Other salaries and wages$293,590
IX-8 Pension plan contributions$22,749
IX-9 Other employee benefits$81,954
IX-10 Payroll taxes$35,152
IX-11b Legal fees$11,258
IX-11c Accounting fees$23,692
IX-11g Other fees for services$93,140
IX-12 Advertising and promotion$73,554
IX-13 Office expenses$38,188
IX-16 Occupancy$73,179
IX-17 Travel$26,003
IX-22 Depreciation, depletion and amortization$2,225
IX-23 Insurance$7,362
IX-24 Other expenses (24a–d)$11,277
IX-25 Total functional expenses$991,200
Part X · Balance sheet $4,216,406 assets, 16 lines filed
Asset lines not itemized here account for $290,023; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $102,857$78,050
X-2 Savings and temporary cash investmentsStart of year $2,172,370$2,546,211
X-3 Pledges and grants receivableStart of year $735,769$451,052
X-4 Accounts receivableStart of year $8,045$13,004
X-9 Prepaid expenses and deferred chargesStart of year $23,567$28,266
X-10c Land, buildings and equipment, netStart of year $25,631$25,242
X-12 Other securitiesStart of year $78,254$78,254
X-15 Other assetsStart of year $0$706,304
X-16 Total assetsStart of year $3,649,301$4,216,406
X-17 Accounts payable and accrued expensesStart of year $16,951$36,879
X-25 Other liabilitiesStart of year $0$708,302
X-26 Total liabilitiesStart of year $16,951$745,181
X-27 Net assets without donor restrictionsStart of year $2,463,676$2,616,027
X-28 Net assets with donor restrictionsStart of year $1,168,674$855,198
X-32 Total net assets or fund balancesStart of year $3,632,350$3,471,225
X-33 Total liabilities and net assetsStart of year $3,649,301$4,216,406
Part XI · Reconciliation of net assets $3,471,225 net assets at year end
XI-1 Total revenue$830,075
XI-2 Total expenses$991,200
XI-3 Revenue less expenses−$161,125
XI-4 Net assets at start of year$3,632,350
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,471,225

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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