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Oswego County Development Corp

Tax-deductible

Fulton, NY501(c)(3)Housing EIN 47-1516126Revenue $546K in FY2024

On file with the IRS1100 Emery St, 13069-2080 · Fulton, NYTax-exempt since Dec 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Developing, acquiring, contruction, renovating, operating, managing, maintaining, and improving housing and home ownership opportunities for low income individuals, families and seniors

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
5 of 5
filings with a surplus
Average surplus $72K a year · 20% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Plus $731K in investments, Pt X · Ln 11–13
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$546K
-17% vs prior year
Spent
$542K
To programs
100%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$546K
FY2024▼ -17%
Tap a bar for its year
Revenue by fiscal year
FY2020$99K
FY2021$117K
FY2022$405K
FY2023$654K
FY2024$546K
Expenses
$542K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$52K
FY2021$50K
FY2022$332K
FY2023$483K
FY2024$542K
Net assets
$1.1M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$736K
FY2021$853K
FY2022$804K
FY2023$1.1M
FY2024$1.1M

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 Dec 2014.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $542K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Michael Stafford
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Holly Carpenter
Board Member
$0Pt VII · Sec A
Stephanie Smith
Board Member
$0Pt VII · Sec A
See Oswego 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

Builds, renovates, and manages affordable housing for low-income individuals, families, and seniors.

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Provided by the organization

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1 program · $542K · in their own filed words · FY2024
01

Developing, acquiring, construction, renovating, operating, managing, maintaining, and improving housing and home ownership opportunites for low income individuals, families and seniors

$542Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$546K
Ln 12
Fees for servicesLn 2g$526K
Investment incomeLn 3$20K
Money outPt IX
$542K
Ln 25
Programscol B$542K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$383K
Total assetsLn 16$1.1M
LiabilitiesLn 26$5K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$526K
Investment incomeLn 3$20K
Gains on assetsLn 7$2K
Total revenueLn 12$546K
Assets in detailPt X, end of year
CashLn 1$383K
Cash and savings togetherLn 1–2$383K
InvestmentsLn 11–13$731K
Total assetsLn 16$1.1M
LiabilitiesLn 26$5K
Net assetsLn 32$1.1M
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 FY24End FY24
Cash and savingsLn 1–2$375K$383K
InvestmentsLn 11–13$658K$731K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$275$5K
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$393K$393K
Payroll taxesLn 10$22K$22K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$7K$7K
InsuranceLn 23$41K$41K
Other expenses (24a–d)Ln 24$74K$74K
All other expensesLn 24e$919$919
Total functional expensesLn 25$542K$542K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $546K$542K$4K$1.1M 990 PDF
FY2023 $654K$483K$171K$1.1M 990 PDF
FY2022 $405K$332K$73K$804K 990 PDF
FY2021 $117K$50K$67K$853K 990 PDF
FY2020 $99K$52K$48K$736K 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 $546,332 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $641,688$525,971
I-10 Investment incomePrior year $12,745$20,361
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $654,433$546,332
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 $394,009$414,686
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $89,004$127,614
I-18 Total expensesPrior year $483,013$542,300
I-19 Revenue less expensesPrior year $171,420$4,032
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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 $546,332 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $525,971$525,971
VIII-3 Investment incomeRelated to mission $17,896$17,896
VIII-7 Net gain or loss on sales of assetsRelated to mission $2,465$2,465
VIII-12 Total revenueRelated to mission $546,332 · Unrelated business $0 · Excluded from tax $0$546,332
Part IX · Statement of functional expenses $542,300 across 7 lines filed
IX-7 Other salaries and wagesPrograms $392,693$392,693
IX-10 Payroll taxesPrograms $21,993$21,993
IX-11c Accounting feesPrograms $5,433$5,433
IX-11f Investment management feesPrograms $6,675$6,675
IX-23 InsurancePrograms $40,576$40,576
IX-24 Other expenses (24a–d)Programs $74,011$74,011
IX-24e All other expensesPrograms $919$919
IX-25 Total functional expensesPrograms $542,300 · Management $0 · Fundraising $0$542,300
Part X · Balance sheet $1,121,051 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $374,912$383,473
X-4 Accounts receivableStart of year $13,875$0
X-9 Prepaid expenses and deferred chargesStart of year $6,939$6,939
X-11 Publicly traded securitiesStart of year $657,573$730,639
X-16 Total assetsStart of year $1,053,299$1,121,051
X-17 Accounts payable and accrued expensesStart of year $275$4,615
X-26 Total liabilitiesStart of year $275$4,615
X-32 Total net assets or fund balancesStart of year $1,053,024$1,116,436
X-33 Total liabilities and net assetsStart of year $1,053,299$1,121,051
Part XI · Reconciliation of net assets $1,116,436 net assets at year end
XI-1 Total revenue$546,332
XI-2 Total expenses$542,300
XI-3 Revenue less expenses$4,032
XI-4 Net assets at start of year$1,053,024
XI-5 Net unrealized gains (losses) on investments$59,380
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,116,436

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

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