GRIFFISS LOCAL DEVELOPMENT CORPORATION

EIN: 161471446 501(c)(3) Community Improvement

ROME, NY

Total Revenue
$5,114,900
Total Expenses
$5,253,514
Total Assets
$27,104,358
Net Assets
$18,493,742
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
NY
Principal Officer
ELIS DELIA
Phone
3153380393
Tax Period
2024-01-01 to 2024-12-31

GRIFFISS LOCAL DEVELOPMENT CORPORATION, founded in 1994, is a community nonprofit in the Community Improvement sector that reported $5.1M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Net assets of $18.5M represent 43 months of operating reserves.

Mission

TO REDEVELOP THE FORMER GRIFFISS AIR FORCE BASE IN ROME, NEW YORK, INTO A BUSINESS AND TECHNOLOGY PARK.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $555,500
Program Service Revenue $3,821,010
Investment Income $68,855
Other Revenue $669,535
TOTAL REVENUE $5,114,900

Expense Breakdown

Grants Paid $0
Salaries & Benefits $958,985
Fundraising Expenses $0
Program Expenses $4,974,202
Other Expenses $4,294,529
TOTAL EXPENSES $5,253,514

Year-over-Year Comparison

2024 2023 Change
Revenue $5,114,900 $6,476,737 -0.2%
Expenses $5,253,514 $5,706,612 -0.1%
Net Income $-138,614 $770,125 -1.2%
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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Governance

Voting Members
11
Independent Members
11
Employees
11
Volunteers
11

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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIS DELIA CHAIRMAN 1.00
Officer Director
$0 $0 $0
KEVIN MARTIN VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
DEBORAH GROGAN TREASURER 1.00
Officer Director
$0 $0 $0
EVAN DEGENNARO MEMBER 1.00
Director
$0 $0 $0
ERIN WEIMAN MEMBER 1.00
Director
$0 $0 $0
CHAD LAWRENCE MEMBER 1.00
Director
$0 $0 $0
MICHAEL MANUELE MEMBER 1.00
Director
$0 $0 $0
FRANK VETRONE MEMBER 1.00
Director
$0 $0 $0
ERIC MACDIARMID MEMBER 1.00
Director
$0 $0 $0
JAMES CUSACK MEMBER 1.00
Director
$0 $0 $0
LAURA COHEN SECRETARY, NON-VOTING 1.00
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
2024 $5,114,900 $5,253,514 $27,104,358 $-138,614
2023 $6,476,737 $5,706,612 $29,658,889 $770,125
2022 $5,293,628 $6,316,948 $29,081,814 $-1,023,320
2021 $3,861,279 $4,821,797 $28,823,478 $-960,518
2020 $6,127,740 $5,501,187 $25,407,403 $626,553
2019 $5,465,415 $4,935,878 $26,498,893 $529,537
2018 $3,271,975 $5,132,965 $27,435,026 $-1,860,990
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