LUTHER FOREST TECHNOLOGY CAMPUS ECONOMIC DEVELOPMENT CORPORATION

EIN: 201263893 501(c)(3)

SARATOGA SPGS, NY

Total Revenue
$174,322
Total Expenses
$294,745
Total Assets
$17,461,739
Net Assets
$6,058,874
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NY
Phone
5188522226
Tax Period
2020-01-01 to 2020-12-31

LUTHER FOREST TECHNOLOGY CAMPUS ECONOMIC DEVELOPMENT CORPORATION, founded in 2004, is a small nonprofit that reported $174K in total revenue in fiscal year 2020. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $295K exceeded revenue, resulting in a 69% operating deficit.

Mission

THE ORGANIZATION ENCOURAGES THE LOCATION AND EXPANSION OF THE NANOTECHNOLOGY AND OTHER INDUSTRIES AND THE CREATION OF JOB OPPORTUNITIES IN SARATOGA COUNTY

Program Service Accomplishments

Program 1
Expenses: $265,622 Revenue: $91,301

THE ORGANIZATION PURCHAED APROXIMATELY 1414 ACRES FOR THE PURPSOE OF DEELOPMENT AND ATTRACTION OF NANOTECHNOLOGY BUSINESS IN SARATOGA COUNTY. IN 2008, A SECTION OF LAND WAS SOLD AND THE BUILDING OF A...

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THE ORGANIZATION PURCHAED APROXIMATELY 1414 ACRES FOR THE PURPSOE OF DEELOPMENT AND ATTRACTION OF NANOTECHNOLOGY BUSINESS IN SARATOGA COUNTY. IN 2008, A SECTION OF LAND WAS SOLD AND THE BUILDING OF A MANUFACTURING SITE HAS BEEN COMPLETED THAT HAS PROVIDED EMPLOYMENT TO THE COUNTY TO ROUGHLY 3000 PEOPLE. OTHER LAND HAS BEEN LEASED WITHIN THE CAMPUS AS WELL. AN ADDITIONAL SALE OF LAND IS COMTEMPLATED AND INFRASTRUCTURE WAS RECENTLY COMPLETED

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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 (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $174,322
TOTAL REVENUE $174,322

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $265,622
Other Expenses $294,745
TOTAL EXPENSES $294,745

Year-over-Year Comparison

2020 2019 Change
Revenue $174,322 $149,318 +0.2%
Expenses $294,745 $255,178 +0.2%
Net Income $-120,423 $-105,860 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
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
3
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J THOMAS ROOHAN CHAIRMAN 3.25
Officer Director
$0 $0 $0
JOSEPH W DALTON JR SECRETARY 1.00
Officer Director
$0 $0 $0
N ROBERT HAYES MEMBER 1.00
Director
$0 $0 $0
CLIFF VANWAGNER VICE CHAIR AND TREASURER 1.25
Officer Director
$0 $0 $0
ROBERT BURDICK MEMBER 1.00
Director
$0 $0 $0
DAVID WALLINGFORD MEMBER 1.00
$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
2020 $174,322 $294,745 $17,461,739 $-120,423
2018 $-1,196,490 $366,742 $17,679,127 $-1,563,232
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