ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION

EIN: 160874637 501(c)(3)

ROME, NY

Total Revenue
$10,796,894
Total Expenses
$6,886,017
Total Assets
$50,447,197
Net Assets
$31,225,776
🔒

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

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
NY
Principal Officer
SHAWNA PAPALE
Phone
3153380393
Tax Period
2024-01-01 to 2024-12-31

ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION, founded in 1963, is a mid-sized nonprofit that reported $10.8M in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.9M, a strong 36% operating margin.

Mission

TO STRENGTHEN LOCAL BUSINESS, ATTRACT NEW INDUSTRIES AND TALENT, AND CREATE VIBRANT COMMUNITIES TO GROW THE MOHAWK VALLEY ECONOMY

🔒

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%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,951,446
Program Service Revenue $4,385,615
Investment Income $150,328
Other Revenue $309,505
TOTAL REVENUE $10,796,894

Expense Breakdown

Grants Paid $188,865
Salaries & Benefits $1,679,792
Fundraising Expenses $0
Program Expenses $6,361,575
Other Expenses $5,017,360
TOTAL EXPENSES $6,886,017

Year-over-Year Comparison

2024 2023 Change
Revenue $10,796,894 $8,193,120 +0.3%
Expenses $6,886,017 $8,325,396 -0.2%
Net Income $3,910,877 $-132,276 -30.6%
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

Sign In

Governance

Voting Members
56
Independent Members
41
Employees
18
Volunteers
56

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
7
$553,111
Total Directors
56
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAWRENCE T GILROY III DIRECTOR 1.00
Director
$0 $0 $0
MICHELE DEVOE DIRECTOR 1.00
Director
$0 $0 $0
MATT NICHOLL DIRECTOR 1.00
Director
$0 $0 $0
PETER BAILDON DIRECTOR 1.00
Director
$0 $0 $0
MARIANNE GAIGE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL FRAME VICE CHAIR 1.00
Director
$0 $0 $0
PATRICK BECHER TREASURER 1.00
Officer Director
$0 $0 $0
JUSTIN HUMMEL CHAIRMAN 1.00
Officer Director
$0 $0 $0
RUSS BREWER DIRECTOR 1.00
Director
$0 $0 $0
RAYMOND HALBRITTER DIRECTOR 1.00
Director
$0 $0 $0
RANDY VAN WAGONER DIRECTOR 1.00
Director
$0 $0 $0
SONDRA BUTCHER DIRECTOR 1.00
Director
$0 $0 $0
RYAN O'SHAUGHNESSY DIRECTOR 1.00
Director
$0 $0 $0
CHARLES GREEN DIRECTOR 1.00
Director
$0 $0 $0
JOHN ROMANO DIRECTOR 1.00
Director
$0 $0 $0
RICHARD CREEDON DIRECTOR 1.00
Director
$0 $0 $0
BRIAN LOUGHLIN DIRECTOR 1.00
Director
$0 $0 $0
NICHOLAS MATT DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN WATERS DIRECTOR 1.00
Director
$0 $0 $0
ALICIA DICKS DIRECTOR 1.00
Director
$0 $0 $0
DAVID M MANZELMANN DIRECTOR 1.00
Director
$0 $0 $0
JOHN BUFFA DIRECTOR 1.00
Director
$0 $0 $0
MARIA KONTARIDIS DIRECTOR 1.00
Director
$0 $0 $0
JOHN J PISECK DIRECTOR 1.00
Director
$0 $0 $0
RICHARD TANTILLO DIRECTOR 1.00
Director
$0 $0 $0
EVE VAN DE WAL DIRECTOR 1.00
Director
$0 $0 $0
DAVID KAVNEY DIRECTOR 1.00
Director
$0 $0 $0
TOM NEUMANN DIRECTOR 1.00
Director
$0 $0 $0
BRIAN ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
NICHOLAS MAYHEW DIRECTOR 1.00
Director
$0 $0 $0
ROCCO ARCURI DIRECTOR 1.00
Director
$0 $0 $0
MARK LEWIS DIRECTOR 1.00
Director
$0 $0 $0
JIM MCCARTHY DIRECTOR 1.00
Director
$0 $0 $0
GENO DECONDO VICE CHAIR 1.00
Officer Director
$0 $0 $0
SABRINA WEBSTER DIRECTOR 1.00
Director
$0 $0 $0
DARLENE STROMSTAD DIRECTOR 1.00
Director
$0 $0 $0
LISA BETRUS DIRECTOR 1.00
Director
$0 $0 $0
RON BELLE DIRECTOR 1.00
Director
$0 $0 $0
RYAN THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
JOHN SNYDER EX-OFFICIO VOTING MEMBER 1.00
Director
$0 $0 $0
RONALD EDWARDS EX-OFFICIO VOTING MEMBER 1.00
Director
$0 $0 $0
WILLIAM BOWER DIRECTOR 1.00
Director
$0 $0 $0
ANDY RUSSELL DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL BUSHARDT EX-OFFICIO VOTING MEMBER 1.00
Director
$0 $0 $0
GREGORY MATTACOLA EX-OFFICIO VOTING MEMBER 1.00
Director
$0 $0 $0
ANNA D'AMBROSIO DIRECTOR 1.00
Director
$0 $0 $0
RICHARD EVANS DIRECTOR 1.00
Director
$0 $0 $0
NICK ALGER DIRECTOR 1.00
Director
$0 $0 $0
TODD PFANNESTIEL DIRECTOR 1.00
Director
$0 $0 $0
THOMAS CLARK JR DIRECTOR 1.00
Director
$0 $0 $0
GREG EVANS DIRECTOR 1.00
Director
$0 $0 $0
KAREN KOROTZER DIRECTOR 1.00
Director
$0 $0 $0
STEVE SURACE DIRECTOR 1.00
Director
$0 $0 $0
DOUGLAS WALTERS DIRECTOR 1.00
Director
$0 $0 $0
DENISE CAVANAUGH EX-OFFICIO VOTING MEMBER 1.00
Director
$0 $0 $0
KEVIN GAGLIONE DIRECTOR 1.00
Director
$0 $0 $0
STEVEN DIMEO FORMER PRESIDENT 40.00
Officer
$93,625 $9,352 $102,977
NICHOLAS BRUNO SECRETARY, NON-VOTING 40.00
Officer
$88,433 $10,131 $98,564
MAUREEN CARNEY CHIEF FINANCIAL OFFICER 40.00
Officer
$121,259 $22,856 $144,115
SHAWNA PAPALE PRESIDENT 40.00
Officer
$161,899 $45,556 $207,455
CHRISTIAN MERCURIO VICE PRESIDENT PLANNING AN 40.00
Highest
$113,689 $14,334 $128,023
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 $10,796,894 $6,886,017 $50,447,197 $3,910,877
2023 $8,193,120 $8,325,396 $40,575,052 $-132,276
2022 $5,942,134 $5,992,359 $40,406,038 $-50,225
2021 $3,664,365 $3,765,758 $36,316,583 $-101,393
2020 $9,405,181 $5,594,223 $37,208,501 $3,810,958
2019 $16,817,671 $7,554,826 $32,886,744 $9,262,845
2018 $9,926,589 $9,989,307 $51,694,001 $-62,718
Explore More Nonprofits
→Top 100 Nonprofits in New York →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION with other nonprofits in New York and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.