GREATER GLENS FALLS LOCAL DEVELOPMENT CORPORATION (EIN 141674747) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

Patrick Dowd

Phone

5183616395

Tax Period

2023-01-01 to 2023-12-31

GREATER GLENS FALLS LOCAL DEVELOPMENT CORPORATION, founded in 1984, is a small nonprofit that reported $187K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $409K exceeded revenue, resulting in a 118% operating deficit.

Mission

The Corporation makes revolving loans available to local businesses to enhance development for the purpose of providing job opportunities and reducing unemployment. The Corporation also participated in other economic development activities such as seeking grants administering grants and other programs.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $185,648

Program Service Revenue $1,324

Investment Income $180

Other Revenue $0

TOTAL REVENUE $187,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,893

Fundraising Expenses $0

Program Expenses $215,897

Other Expenses $391,721

TOTAL EXPENSES $408,614

Year-over-Year Comparison

	2023	2022	Change
Revenue	$187,152	$287,113	-0.3%
Expenses	$408,614	$335,896	+0.2%
Net Income	$-221,462	$-48,783	+3.5%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$16,893

Total Directors

$6,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAYOR BILL COLLINS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JUDY CALOGERO	SECRETARY	1.00	Officer Director	$0	$0	$0
JANE REID	DIRECTOR	1.00	Director	$0	$0	$0
DR JOHN CORDES	TREASURER	1.00	Officer Director	$0	$0	$0
MARY GOODEN	DIRECTOR	1.00	Director	$0	$0	$0
TIM LARSON	DIRECTOR	1.00	Director	$0	$0	$0
DENISE CONKLIN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PATRICK DOWD APRIL THROUGH DECEMBER	CEO	20.00	Officer Director	$6,000	$0	$6,000
MARK TOOMEY	CFO	10.00	Officer	$10,893	$0	$10,893

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$187,152	$408,614	$2,576,941	$-221,462
2022	$287,113	$335,896	$2,853,769	$-48,783
2021	$376,260	$45,496	$3,029,527	$330,764
2020	$77,684	$102,132	$2,679,975	$-24,448
2019	$140,154	$220,969	$2,860,868	$-80,815
2018	$38,167	$123,684	$2,690,123	$-85,517

GREATER GLENS FALLS LOCAL DEVELOPMENT CORPORATION