ST LAWRENCE COUNTY IDA - LOCAL DEVELOPMENT CORPORATION

EIN: 222757318 501(c)(3)

CANTON, NY

Total Revenue
$415,654
Total Expenses
$329,665
Total Assets
$15,940,002
Net Assets
$15,822,168
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
NY
Principal Officer
PATRICK KELLY
Phone
3153799806
Tax Period
2024-01-01 to 2024-12-31

ST LAWRENCE COUNTY IDA - LOCAL DEVELOPMENT CORPORATION, founded in 1986, is a small nonprofit that reported $416K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $86K, a strong 21% operating margin.

Mission

TO PROMOTE ECONOMIC AND BUSINESS DEVELOPMENT IN ST. LAWRENCE COUNTY BY ADMINISTERING A REVOLVING LOAN FUND, ISSUING BUSINESS DEVELOPMENT GRANTS, AND PROVIDING LOW-COST ENERGY TO QUALIFYING AREA BUSINESSES.

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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 $0
Program Service Revenue $238,209
Investment Income $169,992
Other Revenue $7,453
TOTAL REVENUE $415,654

Expense Breakdown

Grants Paid $113,168
Salaries & Benefits $86,013
Fundraising Expenses $0
Program Expenses $208,256
Other Expenses $130,484
TOTAL EXPENSES $329,665

Year-over-Year Comparison

2024 2023 Change
Revenue $415,654 $372,645 +0.1%
Expenses $329,665 $309,271 +0.1%
Net Income $85,989 $63,374 +0.4%
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
7
Independent Members
7
Employees
7
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
5
$235,762
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN W STAPLES CPA CHAIRMAN 0.50
Officer Director
$0 $0 $0
LYNN BLEVINS VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
ERNEST LABAFF SECRETARY 0.50
Officer Director
$0 $0 $0
ANDREW J MCMAHON BOARD MEMBER 0.25
Director
$0 $0 $0
MARK C HALL BOARD MEMBER 0.25
Director
$0 $0 $0
JAMES REAGEN BOARD MEMBER 0.25
Director
$0 $0 $0
STEVEN MORRILL BOARD MEMBER 0.25
Director
$0 $0 $0
PATRICK J KELLY CEO 1.00
Officer
$13,806 $0 $157,593
KIMBERLY A GILBERT CFO 1.00
Officer
$5,615 $0 $78,169
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
2025 No data No data No data No data
2024 $415,654 $329,665 $15,940,002 $85,989
2023 $372,645 $309,271 $15,763,733 $63,374
2022 $180,853 $324,045 $15,684,023 $-143,192
2021 $736,257 $1,188,961 $15,837,974 $-452,704
2020 $275,569 $578,415 $16,285,347 $-302,846
2019 $266,691 $740,029 $16,580,855 $-473,338
2018 $392,733 $835,068 $17,057,179 $-442,335
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