BINGHAMTON LOCAL DEVELOPMENT CORPORATION

EIN: 222482535 501(c)(3) Unknown

BINGHAMTON, NY

Total Revenue
$489,939
Total Expenses
$462,252
Total Assets
$4,241,393
Net Assets
$3,814,752
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
NY
Principal Officer
JOHN SARACENO
Phone
6077727161
Tax Period
2018-09-01 to 2019-08-31

BINGHAMTON LOCAL DEVELOPMENT CORPORATION, founded in 1982, is a small nonprofit in the Unknown sector that reported $490K in total revenue in fiscal year 2018. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $462K left a modest 6% surplus.

Mission

TO FURTHER SUSTAINABLE ECONOMIC DEVELOPMENT IN THE CITY OF BINGHAMTON BY ATTRACTING NEW BUSINESS, RETAINING AND GROWING ESTABLISHED BUSINESS, BUILDING INDUSTRIAL AND COMMERCIAL CAPACITY, PROMOTING EMPLOYMENT, AND FOSTERING ENTREPRENEURSHIP AND INNOVATION.

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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 (2018)

Revenue Breakdown

Contributions & Grants $378,984
Program Service Revenue $108,927
Investment Income $2,028
Other Revenue $0
TOTAL REVENUE $489,939

Expense Breakdown

Grants Paid $344,256
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $425,074
Other Expenses $117,996
TOTAL EXPENSES $462,252

Year-over-Year Comparison

2018 2017 Change
Revenue $489,939 $382,711 +0.3%
Expenses $462,252 $308,628 +0.5%
Net Income $27,687 $74,083 -0.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
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
4
$115,790
Total Directors
13
$507,064
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD DAVID MAYOR 0.50
Director
$0 $18,901 $88,691
KENNETH FRANK CORPORATION COUNSEL 0.50
Director
$0 $32,972 $118,400
CLARENCE SHAGER COMPTROLLER 0.50
Officer Director
$0 $28,337 $115,790
JULIET BERLING DIRECTOR 0.50
Director
$0 $26,730 $82,033
ARTHUR SMITH VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
PER STROMHAUG DIRECTOR 0.50
Director
$0 $0 $0
JOHN SARACENO PRESIDENT 0.50
Officer Director
$0 $0 $0
RON SALL SECRETARY 0.50
Officer Director
$0 $0 $0
MARY JACYNA DIRECTOR 0.50
Director
$0 $0 $0
BETSY KOFFMAN DIRECTOR 0.50
Director
$0 $0 $0
DANI CRONCE DIRECTOR 0.50
Director
$0 $874 $10,374
CHRIS PAPASTRAT DIRECTOR 0.50
Director
$0 $1,492 $10,992
ROBERT MURPHY EXECUTIVE DIRECTOR 0.50
Director
$0 $10,962 $80,784
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
2019 $489,939 $462,252 $4,241,393 $27,687
2018 $382,711 $308,628 $3,845,123 $74,083
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