ULSTER COUNTY ECONOMIC DEVELOPMENT… - Form 990 Financial Data

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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

1964

Legal Domicile

Principal Officer

WARD TODD

Phone

8453403556

Tax Period

2024-01-01 to 2024-12-31

ULSTER COUNTY ECONOMIC DEVELOPMENT ALLIANCE INC, founded in 1964, is a small nonprofit in the Community Improvement sector that reported $220K in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $275K exceeded revenue, resulting in a 25% operating deficit.

Mission

ULSTER COUNTY ECONOMIC DEVELOPMENT ALLIANCE PROMOTES JOB GROWTH, ECONOMIC DEVELOPMENT, AND COMMUNITY REVITALIZATION FOR ULSTER COUNTY AND PROVIDES BUSINESS FINANCING.

Program Service Accomplishments

Program 1

Expenses: $102,380 Revenue: $66,146

2024 ACCOMPLISHMENTS INCLUDE PROMOTION OF ECONOMIC DEVELOPMENT IN ULSTER COUNTY THROUGH BUSINESS ATTRACTION MARKETING CAMPAIGN AND AID TO SMALL BUSINESS. THE ORGANIZATION ALSO SERVES AS THE...

2024 ACCOMPLISHMENTS INCLUDE PROMOTION OF ECONOMIC DEVELOPMENT IN ULSTER COUNTY THROUGH BUSINESS ATTRACTION MARKETING CAMPAIGN AND AID TO SMALL BUSINESS. THE ORGANIZATION ALSO SERVES AS THE ADMINISTRATOR OF THE ULSTER COUNTY REVOLVING LOAN FUNDS.

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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 $102,380

Program Service Revenue $53,425

Investment Income $51,684

Other Revenue $12,721

TOTAL REVENUE $220,210

Expense Breakdown

Grants Paid $102,380

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $102,380

Other Expenses $173,023

TOTAL EXPENSES $275,403

Year-over-Year Comparison

	2024	2023	Change
Revenue	$220,210	$945,662	-0.8%
Expenses	$275,403	$1,002,822	-0.7%
Net Income	$-55,193	$-57,160	0.0%

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

N/A

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

$250,884

Total Directors

$16,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER CERRONE	DIRECTOR	1.00	Director	$0	$0	$0
HERBERT LITTS	VICE CHAIR	1.00	Officer Director	$0	$0	$16,000
WARD TODD	TREASURER	1.00	Officer Director	$0	$0	$0
BRIAN CAHILL	DIRECTOR	1.00	Director	$0	$0	$0
NEJLA LIIAS	DIRECTOR	1.00	Director	$0	$0	$0
DR GREGORY SIMPSON	CHAIR	1.00	Officer Director	$0	$0	$0
MEGAN SPERRY	SECRETARY	1.00	Officer Director	$0	$0	$0
KEVIN LYNCH	CEO/PRESIDENT	1.00	Officer	$0	$16,190	$117,377
CHRISTOPHER R JAROS	CFO	11.00	Officer	$0	$15,616	$117,507

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	$220,210	$275,403	$12,340,668	$-55,193
2023	$945,662	$1,002,822	$12,476,778	$-57,160
2022	$2,033,507	$1,989,500	$7,177,637	$44,007
2022	$2,033,507	$1,989,500	$7,177,637	$44,007
2021	$253,170	$230,731	$6,840,689	$22,439
2020	$311,039	$352,297	$1,823,157	$-41,258
2019	$224,523	$279,305	$1,871,436	$-54,782
2018	$380,672	$360,401	$1,969,714	$20,271

ULSTER COUNTY ECONOMIC DEVELOPMENT ALLIANCE INC