Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2020.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
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
5 people listed on the 990; $27K paid to officers and key staff.
Patrick J Mackrell’s $26K as Chairman, President and CEO is at the 13th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
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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
Helps New York businesses get property, build, and grow to create jobs and boost the economy.
Questions for Excelsior Local Development Corporation
Your first name shows with your question. Excelsior Local Development Corporation answers here, for everyone.
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The corporation makes loans to small businesses on terms that would not be reasonably available from commercial lenders doing business in nys in order to: relieve and reduce unemployment, promote and provide for additional and maximum employment, aid communities in nys by encouraging the development AND/OR retention of industry.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $28K | $35K |
| InvestmentsLn 11–13 | $1.2M | |
| Total assetsLn 16 | $5.2M | $3.6M |
| LiabilitiesLn 26 | $2.5M | $195K |
| Net assetsLn 32 | $2.7M | $3.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other salaries and wagesLn 7 | $345K | $277K | $68K | |
| Other employee benefitsLn 9 | $9K | $8K | $573 | |
| Payroll taxesLn 10 | $8K | $7K | $522 | |
| Legal feesLn 11b | $275 | $275 | ||
| Accounting feesLn 11c | $13K | $13K | ||
| Other fees for servicesLn 11g | $3K | $3K | ||
| InterestLn 20 | $243K | $243K | ||
| Other expenses (24a–d)Ln 24 | $1K | $1K | ||
| Total functional expensesLn 25 | $622K | $536K | $86K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $351K | $250K | $102K | $3.6M | 990 PDF |
| FY2024 | $509K | $335K | $174K | $3.5M | 990 PDF |
| FY2023 Viewing | $1.3M | $622K | $661K | $3.4M | 990 PDF |
| FY2022 | $2.1M | $256K | $1.8M | $2.7M | 990 PDF |
| FY2021 | $1.1M | $471K | $635K | $872K | 990 PDF |
| FY2020 | $881K | $645K | $236K | $238K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $1,282,544 revenue, 12 lines filed
Part VI · Governance 3 of 4 board members independent, 1 to look at
Part VIII · Statement of revenue $1,282,544 across 4 lines filed
Part IX · Statement of functional expenses $622,035 across 8 lines filed
Part X · Balance sheet $3,554,505 assets, 12 lines filed
Part XI · Reconciliation of net assets $3,359,294 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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