Greater Syracuse Business Development Co (EIN 160906565) - 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

1962

Legal Domicile

Principal Officer

Kenneth Gardiner

Phone

3153730273

Tax Period

2024-08-01 to 2025-07-31

Greater Syracuse Business Development Co, founded in 1962, is a small nonprofit that reported $231K in total revenue in fiscal year 2024. Expenses of $329K exceeded revenue, resulting in a 42% operating deficit.

Mission

Encourage the locations/expansion of industrial/manufacturing facilities and net wealth generating companies, create job opportunities, reduce unemployment and facilitate the betterment of community prosperity within upstate New York, by making capital and fixed asset loans to private businesses.

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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 $0

Program Service Revenue $230,861

Investment Income $0

Other Revenue $0

TOTAL REVENUE $230,861

Expense Breakdown

Grants Paid $0

Salaries & Benefits $128,048

Fundraising Expenses $0

Program Expenses $120,435

Other Expenses $200,672

TOTAL EXPENSES $328,720

Year-over-Year Comparison

	2024	2023	Change
Revenue	$230,861	$216,829	+0.1%
Expenses	$328,720	$316,065	+0.0%
Net Income	$-97,859	$-99,236	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

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

$88,973

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kenneth Gardiner	Chairman/President	1.00	Officer Director	$0	$0	$0
Edward Slank	Vice President	1.00	Officer Director	$0	$0	$0
Dana Loucks	Vice President	1.00	Officer Director	$0	$0	$0
Adam E Panek	Treasurer	1.00	Officer Director	$0	$0	$0
Andrew D'Agostino	Trustee	1.00	Director	$0	$0	$0
Robert D Griffin	Trustees	1.00	Director	$0	$0	$0
F Paul Vellano Jr	Trustee	1.00	Director	$0	$0	$0
Russell T Rohan	Trustee	1.00	Director	$0	$0	$0
Robert L Vertucci	Trustee	1.00	Director	$0	$0	$0
Frederick G Rudmann	Trustee	1.00	Director	$0	$0	$0
Donald J Western	Trustee	1.00	Director	$0	$0	$0
Kenneth Jardin II	Trustee	1.00	Director	$0	$0	$0
John Gibbs	Trustee	1.00	Director	$0	$0	$0
Alison X Ha	Trustee	1.00	Director	$0	$0	$0
Luke E Fagan	Trustee	1.00	Director	$0	$0	$0
Kevin LaMontagne	Trustee	1.00	Director	$0	$0	$0
Bob Ellis	Former Executive Director	40.00	Officer	$88,973	$0	$88,973
Brian Bund	Executive Director	40.00	Officer	$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
2025	$230,861	$328,720	$911,030	$-97,859
2024	$216,829	$316,065	$1,113,201	$-99,236
2023	$257,641	$302,258	$1,205,199	$-44,617
2022	$209,466	$280,285	$1,135,889	$-70,819
2021	$269,072	$277,280	$1,219,415	$-8,208
2020	$243,012	$314,613	$1,227,596	$-71,601
2019	$275,297	$311,833	$1,308,652	$-36,536

Greater Syracuse Business Development Co