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Lewis County Development Corp FY2023 filing

Tax-deductible

Lowville, NY501(c)(3)Community Development EIN 20-0045564Revenue $701K in FY2023

On file with the IRSsites.google.com/site/lewiscountydevelopmentcorpPo Box 106, 13367-0106 · Lowville, NYTax-exempt since Sep 2006Publicly supported — 509(a)(2)

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To promote and facilitate economic opportunity for the people of Lewis County, NY.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
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
5 of 6
filings with a surplus
Average surplus $107K a year · 26% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
81 mo
of spending, in cash
Looks good: 80.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$701K
+360% vs prior year
Spent
$226K
To programs
90%
Net assets
$586K
By yearFY2020–FY2025
Revenue
$701K
FY2023▲ +360%
Tap a bar for its year
Revenue by fiscal year
FY2020$46K
FY2021$79K
FY2022$152K
FY2023$701K
FY2024$764K
FY2025$736K
Expenses
$226K
FY2023▲ +334%
Tap a bar for its year
Expenses by fiscal year
FY2020$62K
FY2021$67K
FY2022$52K
FY2023$226K
FY2024$701K
FY2025$726K
Net assets
$586K
FY2023▲ +428%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1K
FY2021$11K
FY2022$111K
FY2023$586K
FY2024$649K
FY2025$658K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2006.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $204K Management & general 10% · $22K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Eric Virkler
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Petersen
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Tyler McDonald
Vice President
$0Pt VII · Sec A
See Lewis County 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

Programs and updates

Boosts economic chances for Lewis County, NY residents.

Questions for Lewis County Development Corp

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Provided by the organization

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1 program · $204K · in their own filed words · FY2023
01

To promote and facilitate economic opportunity for the people of lewis county, new york.

$204Kprogram expense

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 · FY2020
Pratt-Northam FoundationFY2020$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 17 grants · $966K · 2022–2025
Omnia Advanced Materials LLCFY2025$100,000
McRez Packing InternationalFY2025$100,000
Old Croghan Engine HouseFY2025$84,000
Crumbs Bake ShopFY2025$72,730
Rags and RiversFY2025$30,000
New Life ConstructionFY2025$30,000
Lowville Appliance and Air Conditioning LLCFY2025$30,000
Cedar Bridge Properties LLCFY2025$11,048
Coffee and Clay CafeFY2025$7,400
Unitemized GrantFY2024$139,997
Sherburne Dg LLCFY2024$100,000
Cedar Bridge LLCFY2024$73,332
Double Play Sports Community Center INCNY · FY2024$52,448
Mdbb EnterprisesFY2024$49,234
Hartley's Meat MarketFY2024$30,000
Double Play Sports Community Center INCNY · FY2023$47,552
Village of Lyons FallsFY2022$8,711

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$701K
Ln 12
Gifts and grantsLn 1h$683K
Other incomeLn 4–11$10K
Investment incomeLn 3$7K
Money outPt IX
$226K
Ln 25
Programscol B$204K
Managementcol C$22K
Owns and owesPt X
$586K
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$1.7M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$683K
Government grantsLn 1e$128K
Investment incomeLn 3$7K
Other incomeLn 4–11$10K
Total revenueLn 12$701K
Assets in detailPt X, end of year
CashLn 1$97K
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$97K
Total assetsLn 16$1.7M
LiabilitiesLn 26$1.1M
Net assetsLn 32$586K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$152K$1.5M
Land, buildings, equipmentLn 10c$107K$97K
Total assetsLn 16$291K$1.7M
LiabilitiesLn 26$180K$1.1M
Net assetsLn 32$111K$586K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$64K$64K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$786$786
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$1K$343$856
Other expenses (24a–d)Ln 24$139K$127K$12K
Total functional expensesLn 25$226K$204K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $736K$726K$9K$658K 990 PDF
FY2024 $764K$701K$63K$649K 990 PDF
FY2023 Viewing $701K$226K$475K$586K 990 PDF
FY2022 $152K$52K$100K$111K 990 PDF
FY2021 $79K$67K$12K$11K 990 PDF
FY2020 $46K$62K−$16K−$1K 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 FY2023 990 (6 parts)
Part I · Summary $700,558 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $35,782$682,886
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $90,102$7,229
I-11 Other revenuePrior year $26,489$10,443
I-12 Total revenuePrior year $152,373$700,558
I-13 Grants and similar amounts paidPrior year $12,015$63,759
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $40,004$161,886
I-18 Total expensesPrior year $52,019$225,645
I-19 Revenue less expensesPrior year $100,354$474,913
Part VI · Governance 11 of 11 board members independent, 2 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $700,558 across 6 lines filed
VIII-1e Government grants$127,552
VIII-1f All other contributions, gifts and grants$555,334
VIII-1h Total contributions, gifts and grants$682,886
VIII-3 Investment incomeExcluded from tax $7,229$7,229
VIII-6 Net rental income or lossExcluded from tax $10,443$10,443
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $17,672$700,558
Part IX · Statement of functional expenses $225,645 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $63,759$63,759
IX-11b Legal feesManagement $2,123$2,123
IX-11c Accounting feesManagement $6,900$6,900
IX-11g Other fees for servicesPrograms $786$786
IX-20 InterestPrograms $1,802$1,802
IX-22 Depreciation, depletion and amortizationPrograms $9,899$9,899
IX-23 InsurancePrograms $343 · Management $856$1,199
IX-24 Other expenses (24a–d)Programs $126,990 · Management $12,187$139,177
IX-25 Total functional expensesPrograms $203,579 · Management $22,066 · Fundraising $0$225,645
Part X · Balance sheet $1,656,408 assets, 10 lines filed
Asset lines not itemized here account for $10,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $131,482$96,677
X-2 Savings and temporary cash investmentsStart of year $20,991$1,421,004
X-4 Accounts receivableStart of year $31,385$31,385
X-10c Land, buildings and equipment, netStart of year $107,241$97,342
X-16 Total assetsStart of year $291,099$1,656,408
X-19 Deferred revenue$902,448
X-26 Total liabilitiesStart of year $180,084$1,070,480
X-27 Net assets without donor restrictionsStart of year $111,015$585,928
X-32 Total net assets or fund balancesStart of year $111,015$585,928
X-33 Total liabilities and net assetsStart of year $291,099$1,656,408
Part XI · Reconciliation of net assets $585,928 net assets at year end
XI-1 Total revenue$700,558
XI-2 Total expenses$225,645
XI-3 Revenue less expenses$474,913
XI-4 Net assets at start of year$111,015
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$585,928

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

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