STATEN ISLAND ECONOMIC DEVELOPMENT CORPORATION (EIN 133706442) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

MICHAEL CUSICK

Phone

7184771400

Tax Period

2024-01-01 to 2024-12-31

STATEN ISLAND ECONOMIC DEVELOPMENT CORPORATION, founded in 1993, is a community nonprofit in the Community Improvement sector that reported $2.3M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $2.2M left a modest 4% surplus.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PLAN AND PROMOTE AND, IF NECESSARY, COORDINATE AND EXECUTE PROGRAMS IN STATEN ISLAND, NEW YORK TO ENHANCE THE QUALITY OF LIFE OF ITS RESIDENTS AND TO IMPROVE THE BUSINESS ENVIRONMENT AND EMPLOYMENT BASE OF STATEN ISLAND.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,675,300

Program Service Revenue $428,640

Investment Income $18,855

Other Revenue $130,792

TOTAL REVENUE $2,253,587

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,321,110

Fundraising Expenses $213,690

Program Expenses $1,729,309

Other Expenses $837,583

TOTAL EXPENSES $2,158,693

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,253,587	$2,385,997	-0.1%
Expenses	$2,158,693	$2,327,993	-0.1%
Net Income	$94,894	$58,004	+0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$533,418

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CUSICK	PRESIDENT &	35.00	Officer	$249,969	$7,222	$257,191
GINA GUTMAN	SR. VICE PRE	35.00	Officer	$159,618	$24,391	$184,009
ELI KHAZZAM	VP PROJECTS	35.00	Highest	$119,808	$0	$119,808
DORIS VITIELLO	COMPTROLLER	35.00	Officer	$80,250	$11,968	$92,218
KIMBERLY ALTHOFF	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL ALTOBELLI	DIRECTOR	1.00	Director	$0	$0	$0
GARY ANGIULI	DIRECTOR	1.00	Director	$0	$0	$0
DR BRAHIM ARDOLIC	DIRECTOR	1.00	Director	$0	$0	$0
GINA ARGENTO	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ATKINS	DIRECTOR	1.00	Director	$0	$0	$0
KIM AVILEZ	DIRECTOR	1.00	Director	$0	$0	$0
LANCE BECCA	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BELLONI	DIRECTOR	1.00	Director	$0	$0	$0
ED BIRDIE	MEMBERSHIP M	1.00	Director	$0	$0	$0
RALPH BRANCA	CHAIRMAN	3.00	Officer Director	$0	$0	$0
CAROL BULLOCK	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CARIDI	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD CORASH	DIRECTOR	1.00	Director	$0	$0	$0
CAROL DECINA	SECRETARY	3.00	Officer Director	$0	$0	$0
FRED DIGIOVANNI	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY A DOGGERT	DIRECTOR	1.00	Director	$0	$0	$0
R RANDY LEE ESQ	CHAIRMAN EME	1.00	Director	$0	$0	$0
JOE FERRARA	DIRECTOR	1.00	Director	$0	$0	$0
STANLEY M FRIEDMAN	DIRECTOR	1.00	Director	$0	$0	$0
DWIGHT GENIAS	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP GUARNIERI	TREASURER	3.00	Officer Director	$0	$0	$0
JOHN DILEO JR	DIRECTOR	1.00	Director	$0	$0	$0
STEVE KLEIN	EXECUTIVE CO	1.00	Director	$0	$0	$0
ROBIN LEFKOWITZ	DIRECTOR	1.00	Director	$0	$0	$0
SADIA MALIK	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MANZULLI	CHAIRMAN EME	1.00	Director	$0	$0	$0
KENNETH MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
JAMES P MOLINARO	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT P MOORE	EXEC. VICE C	3.00	Officer Director	$0	$0	$0
ROBERT MYERS	DIRECTOR	1.00	Director	$0	$0	$0
FRANK NASO	DIRECTOR	1.00	Director	$0	$0	$0
EVAN PETRACCA	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL MESSINA PHD	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPHINE PORTUESI	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL RYAN	EXECUTIVE CO	1.00	Director	$0	$0	$0
MICHAEL SANICOLA	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY SANTO	DIRECTOR	1.00	Director	$0	$0	$0
MARCELLO SCIARRINO	EXECUTIVE CO	1.00	Director	$0	$0	$0
SHAWN STRADFORD	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW SYPA	DIRECTOR	1.00	Director	$0	$0	$0
JOE TORRES	VICE CHAIRMA	3.00	Officer Director	$0	$0	$0
ROBERT WALLACE	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,253,587	$2,158,693	$2,349,875	$94,894
2023	$2,385,997	$2,327,993	$2,388,772	$58,004
2022	$2,037,023	$2,037,982	$2,449,397	$-959
2021	$2,245,487	$1,873,054	$2,026,923	$372,433
2020	$1,937,575	$1,719,329	$1,832,328	$218,246
2019	$2,337,805	$2,237,123	$1,404,076	$100,682
2018	$2,142,249	$2,094,792	$1,229,474	$47,457

STATEN ISLAND ECONOMIC DEVELOPMENT CORPORATION