SARATOGA ECONOMIC DEVELOPMENT CORP… - 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

1978

Legal Domicile

Principal Officer

J GREGORY CONNORS

Phone

5185870945

Tax Period

2023-01-01 to 2023-12-31

SARATOGA ECONOMIC DEVELOPMENT CORPORATION, founded in 1978, is a small nonprofit in the Community Improvement sector that reported $966K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $231K, a strong 24% operating margin.

Mission

SARATOGA ECONOMIC DEVELOPMENT CORPORATION CREATES JOB GROWTH BY PROMOTING ECONOMIC DEVELOPMENT IN SARATOGA COUNTY

Program Service Accomplishments

Program 1

Expenses: $463,457 Revenue: $604,262

SARATOGA ECONOMIC DEVELOPMENT CORPORATION CREATED JOB GROWTH BY PROMOTING ECONOMIC DEVELOPMENT IN SARATOGA COUNTY BY PROMOTING SARATOGA COUNTY TO PRESENT AND PROSPECTIVE INDUSTRIES AND BUSINESSES...

SARATOGA ECONOMIC DEVELOPMENT CORPORATION CREATED JOB GROWTH BY PROMOTING ECONOMIC DEVELOPMENT IN SARATOGA COUNTY BY PROMOTING SARATOGA COUNTY TO PRESENT AND PROSPECTIVE INDUSTRIES AND BUSINESSES. APPROXIMATELY 230,000 PEOPLE BENEFIT FROM THESE SERVICES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $283,677

Program Service Revenue $604,076

Investment Income $4,566

Other Revenue $73,462

TOTAL REVENUE $965,781

Expense Breakdown

Grants Paid $0

Salaries & Benefits $434,000

Fundraising Expenses $0

Program Expenses $463,457

Other Expenses $300,691

TOTAL EXPENSES $734,691

Year-over-Year Comparison

	2023	2022	Change
Revenue	$965,781	$890,217	+0.1%
Expenses	$734,691	$703,070	+0.0%
Net Income	$231,090	$187,147	+0.2%

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

$250,716

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TORI RILEY	ACTING PRESI	35.00	Officer	$175,389	$20,818	$196,207
J GREGORY CONNORS	PRESIDENT	35.00	Officer	$52,308	$2,201	$54,509
DAVID COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
DOUG FORD	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
CINDY HOLLOWOOD	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES WAIT JR	DIRECTOR	1.00	Director	$0	$0	$0
ZACHARY MANZ	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MUNTER	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MICHAEL RELYEA	SECRETARY	1.00	Officer Director	$0	$0	$0
TOM SAMASCOTT	DIRECTOR	1.00	Director	$0	$0	$0
RYAN SHAW	TREASURER	1.00	Officer 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	No data	No data	No data	No data
2023	$965,781	$734,691	$1,118,885	$231,090
2022	$890,217	$703,070	$872,200	$187,147
2021	$938,652	$685,758	$682,637	$252,894
2020	$536,815	$709,152	$479,273	$-172,337
2019	$342,804	$705,531	$592,693	$-362,727
2018	$435,083	$763,101	$964,745	$-328,018

SARATOGA ECONOMIC DEVELOPMENT CORPORATION