SOUTHERN TIER ECONOMIC GROWTH INC

EIN: 166050285

ELMIRA, NY

Total Revenue
$341,039
Total Expenses
$568,417
Total Assets
$2,201,779
Net Assets
$2,164,615
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
NY
Principal Officer
JOSEPH ROMAN
Phone
6077336513
Tax Period
2023-01-01 to 2023-12-31

SOUTHERN TIER ECONOMIC GROWTH INC, founded in 1960, is a small nonprofit that reported $341K in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $568K exceeded revenue, resulting in a 67% operating deficit.

Mission

SOUTHERN TIER ECONOMIC GROWTH, INC. IS ORGANIZED TO SUPPORT REGIONAL ECONOMIC DEVELOPMENT BY PROMOTION OF THE SOUTHERN TIER OF NEW YORK STATE, AND TO PROVIDE FINANCIAL AID AND ASSISTANCE TO NEW AND EXISTING BUSINESSES. THE ORGANIZATION IS FUNDED BY LOCAL BUSINESS SUPPORT, STATE AND MUNICIPAL SUPPORT, AND INVESTMENT INCOME.

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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 (2023)

Revenue Breakdown

Contributions & Grants $18,972
Program Service Revenue $268,886
Investment Income $168
Other Revenue $53,013
TOTAL REVENUE $341,039

Expense Breakdown

Grants Paid $0
Salaries & Benefits $384,301
Fundraising Expenses $24,637
Program Expenses $418,725
Other Expenses $184,116
TOTAL EXPENSES $568,417

Year-over-Year Comparison

2023 2022 Change
Revenue $341,039 $425,672 -0.2%
Expenses $568,417 $458,586 +0.2%
Net Income $-227,378 $-32,914 +5.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
68
Independent Members
68
Employees
4
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
9
$0
Total Directors
75
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARIE J VAN DEN BLINK CHAIRMAN 1.00
Officer Director
$0 $0 $0
STEVEN E AGAN ESQ SECRETARY 1.00
Officer Director
$0 $0 $0
ARTHUR D AMBROSE ASSISTANT SECRETARY 1.00
Officer Director
$0 $0 $0
MATTHEW GREEN TREASURER 1.00
Officer Director
$0 $0 $0
CHRISTOPHER J GIAMMICHELE ASSISTANT TREASURER 1.00
Officer Director
$0 $0 $0
JEFFREY B STREETER IMMEDIATE PAST CHAIRMAN 1.00
Officer Director
$0 $0 $0
PHYLLIS BALLIETT DIRECTOR 1.00
Director
$0 $0 $0
HILLARY J AUSTIN DIRECTOR 1.00
Director
$0 $0 $0
LISA CARACCI DIRECTOR 1.00
Director
$0 $0 $0
SCOTT H BEECHER DIRECTOR 1.00
Director
$0 $0 $0
TROY DYGERT DIRECTOR 1.00
Director
$0 $0 $0
PATRICK S BONNELL JR DIRECTOR 1.00
Director
$0 $0 $0
JOHN S BOOTH III DIRECTOR 1.00
Director
$0 $0 $0
CRAIG BURTON DIRECTOR 1.00
Director
$0 $0 $0
JO'EL ECCLESTON DIRECTOR 1.00
Director
$0 $0 $0
CHARLES BURKE DIRECTOR 1.00
Director
$0 $0 $0
DANIEL J BURKE DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
DAWN BURLEW DIRECTOR 1.00
Director
$0 $0 $0
P MICHAEL COLLINS EX-OFFICIO 1.00
Director
$0 $0 $0
JOSHUA DAHLMAN DIRECTOR 1.00
Director
$0 $0 $0
DANIEL F DIMON JR DIRECTOR 1.00
Director
$0 $0 $0
JODI EDGER DIRECTOR 1.00
Director
$0 $0 $0
JEANNE M ESCHBACH DIRECTOR 1.00
Director
$0 $0 $0
JEFF EVANS DIRECTOR 1.00
Director
$0 $0 $0
JAMES B GENSEL DIRECTOR 1.00
Director
$0 $0 $0
THOMAS GOUGH DIRECTOR 1.00
Director
$0 $0 $0
GARY A GRINNELL DIRECTOR 1.00
Director
$0 $0 $0
DEAN C HACKETT DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN P HALE DIRECTOR 1.00
Director
$0 $0 $0
ERNIE HARTMAN DIRECTOR 1.00
Director
$0 $0 $0
JEFFREY P KENEFICK DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN LAWRENCE DIRECTOR 1.00
Director
$0 $0 $0
CHARLES W LINDSAY PHD DIRECTOR 1.00
Director
$0 $0 $0
GEORGE E MALONEY DIRECTOR 1.00
Director
$0 $0 $0
KYLE J FERGUSON DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL J MANZARI DIRECTOR 1.00
Director
$0 $0 $0
JOSHUA COPP DIRECTOR 1.00
Director
$0 $0 $0
JOHN H MEIER DIRECTOR 1.00
Director
$0 $0 $0
LINDSAY MILLS DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER HERRICK-MCGONIGAL DIRECTOR 1.00
Director
$0 $0 $0
IAN MORRELL DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER J MOSS EX-OFFICIO 1.00
Director
$0 $0 $0
DANIEL P PANOSIAN DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL MALONEY DIRECTOR 1.00
Director
$0 $0 $0
JOHN F POTTER DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
JOHN P POTTER DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL P PRINTUP DIRECTOR 1.00
Director
$0 $0 $0
JESSICA RENNER 2ND VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
GEORGE RICHTER EX-OFFICIO 1.00
Director
$0 $0 $0
KATHERINE H ROEHLKE DIRECTOR 1.00
Director
$0 $0 $0
FRANK STEED DIRECTOR 1.00
Director
$0 $0 $0
JERALD M STEMERMAN DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
MARC STEMERMAN DIRECTOR 1.00
Director
$0 $0 $0
RICHARD W SWAN DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
DR RICHARD TERRY DO MBA FACOBP DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH M VALICENTI DIRECTOR 1.00
Director
$0 $0 $0
TIMOTHY P VANFLEET DIRECTOR 1.00
Director
$0 $0 $0
KIRK M VIESELMEYER DIRECTOR 1.00
Director
$0 $0 $0
PETER C WALLIN DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN WELLIVER DIRECTOR 1.00
Director
$0 $0 $0
LEE GIAMMICHELE EX-OFFICIO 1.00
Director
$0 $0 $0
THOMAS J PISANO DIRECTOR 1.00
Director
$0 $0 $0
DANIEL J MANDELL JR EX-OFFICIO 1.00
Director
$0 $0 $0
JOSH PALMER DIRECTOR 1.00
Director
$0 $0 $0
ANGELA HAWKEN DIRECTOR 1.00
Director
$0 $0 $0
KATHLEEN SZERSZEN EX-OFFICIO 1.00
Director
$0 $0 $0
DANIEL P O'CONNELL DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
NATHAN PIZZINI DIRECTOR 1.00
Director
$0 $0 $0
DONALD G QUICK JR DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
CAROL A MILLER DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL MISHOOK DIRECTOR 1.00
Director
$0 $0 $0
EDWARD HOLZLEIN DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER PETRILLOSE DIRECTOR 1.00
Director
$0 $0 $0
MARK MARGESON EX-OFFICIO 1.00
Director
$0 $0 $0
ANDERS M TOMSON 1ST VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOSEPH ROMAN PRESIDENT 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
2024 No data No data No data No data
2023 $341,039 $568,417 $2,201,779 $-227,378
2022 $425,672 $458,586 $2,408,085 $-32,914
2021 $2,189,380 $1,147,287 $2,456,730 $1,042,093
2020 $416,483 $594,859 $1,450,487 $-178,376
2019 $380,367 $697,490 $1,587,311 $-317,123
2018 $624,871 $829,586 $1,910,825 $-204,715
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