CENTERSTATE DEVELOPMENT FOUNDATION INC (EIN 161165469) - 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

1981

Legal Domicile

Principal Officer

ROBERT SIMPSON

Phone

3154701800

Tax Period

2024-01-01 to 2024-12-31

CENTERSTATE DEVELOPMENT FOUNDATION INC, founded in 1981, is a community nonprofit in the Community Improvement sector that reported $1.9M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

THE FOUNDATION'S MISSION IS TO UNLOCK THE ECONOMIC POTENTIAL OF ALL CENTRAL NEW YORK'S PEOPLE AND PLACES BY ATTRACTING PUBLIC AND PHILANTHROPIC CAPITAL.

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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 $353,069

Program Service Revenue $1,477,742

Investment Income $84,381

Other Revenue $805

TOTAL REVENUE $1,915,997

Expense Breakdown

Grants Paid $0

Salaries & Benefits $199,753

Fundraising Expenses $0

Program Expenses $1,587,926

Other Expenses $1,851,732

TOTAL EXPENSES $2,051,485

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,915,997	$1,572,849	+0.2%
Expenses	$2,051,485	$1,408,793	+0.5%
Net Income	$-135,488	$164,056	-1.8%

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

$1,046,384

Total Directors

$434,054

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT SIMPSON	PRESIDENT	1.00	Officer Director	$76,018	$127,938	$434,054
EVELYN CARTER INGRAM	CHAIR	1.00	Officer Director	$0	$0	$0
MELANIE W LITTLEJOHN	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY PENIX	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN ANDREWS	DIRECTOR	1.00	Director	$0	$0	$0
VICKI BRACKENS	DIRECTOR	1.00	Director	$0	$0	$0
DAVE NUTTING	DIRECTOR	1.00	Director	$0	$0	$0
DAVE SCHNECKENBURGER	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET O'CONNELL	DIRECTOR	1.00	Director	$0	$0	$0
GAIL COWLEY	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN CROSSETT	TREASURER	1.00	Officer Director	$0	$0	$0
MANTOSH DEWAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN HUHTALA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL NASH	DIRECTOR	1.00	Director	$0	$0	$0
JAMES REED	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KIMBERLY TOWNSEND	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY MURPHY	CHAIR, DEVELOPMENT COMMITTEE	1.00	Officer Director	$0	$0	$0
SOMAK CHATTOPADHYAY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN FOURNIER	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN GORCZYNSKI	DIRECTOR	1.00	Director	$0	$0	$0
ERIC MOWER	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS SCHNEIDER	DIRECTOR	1.00	Director	$0	$0	$0
ERIK SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JOHANNA ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
JO ANNE GAGLIANO	DIRECTOR	1.00	Director	$0	$0	$0
DR SETH KRONENBERG	DIRECTOR	1.00	Director	$0	$0	$0
DIMITAR KARAIVANOV	DIRECTOR	1.00	Director	$0	$0	$0
LORI DIETZ	SPECIAL PROJECT MANAGEMENT	1.00	Officer	$0	$5,021	$97,397
KELLY FURMAROLA	EXECUTIVE DIRECTOR	1.00	Officer	$0	$4,708	$98,536
MARIAN FRANCHER	SENIOR DIRECTOR OF FINANCE	1.00	Officer	$0	$12,964	$117,792
BEN SIO	SVP	1.00	Officer	$9,877	$36,694	$174,618
HONORA SPILLANE	VP OF ECONOMIC DEVELOPMENT	32.00	Officer	$81,481	$19,627	$123,987

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	$1,915,997	$2,051,485	$3,814,591	$-135,488
2023	$1,572,849	$1,408,793	$3,698,191	$164,056
2022	$1,470,410	$1,398,971	$3,630,271	$71,439
2021	$2,035,520	$1,363,478	$3,333,690	$672,042
2020	$1,422,561	$1,428,920	$2,675,646	$-6,359
2019	$1,442,397	$1,381,036	$2,629,630	$61,361
2018	$1,323,570	$1,235,287	$2,560,130	$88,283

CENTERSTATE DEVELOPMENT FOUNDATION INC