THE HUDSON VALLEY CENTER FOR INNOV… - Form 990 Financial Data

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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

2005

Legal Domicile

Principal Officer

Hugh Schwartz

Phone

9179692502

Tax Period

2022-01-01 to 2022-12-31

THE HUDSON VALLEY CENTER FOR INNOVATION INC, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $429K in total revenue in fiscal year 2022. Revenue surged 191% from the prior year, signaling strong growth momentum. Expenses of $539K exceeded revenue, resulting in a 26% operating deficit.

Mission

HVCI empowers business growth through planning, advisement and education. HVCI delivers its content through a collective of successful entrepreneurs serving other entrepreneurs at varying stages in their development. The organization employs programs, experiential learning, and a growth mindset to support companies in connecting to their marketplace and increasing revenues.

Program Service Accomplishments

Program 1

Expenses: $345,804 Revenue: $275,000

Westchester County Launch1000 - This program is designed to help residents evaluate an idea for a new venture, test it with potential customers, and see if it seems likely to succeed. Over 365...

Westchester County Launch1000 - This program is designed to help residents evaluate an idea for a new venture, test it with potential customers, and see if it seems likely to succeed. Over 365 Westchester residents have completed this free entrepreneurial training program and most have launched their ventures, including for-profit businesses, social enterprises and non-profit organizations.

Program 2

Expenses: $94,325 Revenue: $75,000

Dutchess County Gears - This Program is offered free to small businesses and is designed for startups and small businesses to grow their operations. HVCI provided a series of workshops featuring...

Dutchess County Gears - This Program is offered free to small businesses and is designed for startups and small businesses to grow their operations. HVCI provided a series of workshops featuring different topics with strategic insights on ways to elevate and grow their business.

Program 3

Expenses: $52,313 Revenue: $41,655

Empire State Development NYSTAR -- HVCI led the Mid-Hudson Certified Business Incubator (CBI) program providing entrepreneur and small business training programs through workforce development...

Empire State Development NYSTAR -- HVCI led the Mid-Hudson Certified Business Incubator (CBI) program providing entrepreneur and small business training programs through workforce development projects, business owner education cohort, and community development initiatives and programming. In partnership with regional government, corporate, nonprofit, education, and investment stakeholders, HVCI executed workshop, cohort, and one-on-one instruction, training, coaching, and advisory services to students, startup founders, small business owners, nonprofit executives, and other entrepreneurial clients and partners.

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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 (2022)

Revenue Breakdown

Contributions & Grants $419,967

Program Service Revenue $8,922

Investment Income $0

Other Revenue $0

TOTAL REVENUE $428,889

Expense Breakdown

Grants Paid $0

Salaries & Benefits $98,270

Fundraising Expenses $0

Program Expenses $539,308

Other Expenses $441,038

TOTAL EXPENSES $539,308

Year-over-Year Comparison

	2022	2021	Change
Revenue	$428,889	$147,220	+1.9%
Expenses	$539,308	$262,839	+1.1%
Net Income	$-110,419	$-115,619	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

$141,344

Total Directors

$142,344

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Daniel Potocki	CEO and Managing Director	45.00	Officer Director	$81,344	$0	$81,344
Hugh Schwartz	Executive Chairman and CEO	30.00	Officer Director	$60,000	$0	$60,000
CHESTER WATSON	Director	10.00	Director	$500	$0	$500
James Cranston	Director	1.00	Director	$500	$0	$500

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
2022	$428,889	$539,308	$205,653	$-110,419
2021	$147,220	$262,839	$333,851	$-115,619
2020	$346,424	$222,337	$426,526	$124,087

THE HUDSON VALLEY CENTER FOR INNOVATION INC