DOWNTOWN SCHENECTADY IMPROVEMENT CORPORATION

EIN: 364465022 501(c)(3) Community Improvement

SCHENECTADY, NY

Total Revenue
$861,146
Total Expenses
$924,114
Total Assets
$609,319
Net Assets
$508,531
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Principal Officer
MAUREEN NEUFELD
Phone
5183779430
Tax Period
2024-01-01 to 2024-12-31

DOWNTOWN SCHENECTADY IMPROVEMENT CORPORATION, founded in 1978, is a small nonprofit in the Community Improvement sector that reported $861K in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring.

Mission

OUR MISSION IS TO PROMOTE DOWNTOWN SCHENECTADY AS A PREMIER LOCATION FOR COMMERCE, RECREATION AND RESIDENCE BY ENHANCING, FACILITATING AND SUPPORTING ECONOMIC GROWTH.

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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 $318,818
Program Service Revenue $537,355
Investment Income $4,973
Other Revenue $0
TOTAL REVENUE $861,146

Expense Breakdown

Grants Paid $0
Salaries & Benefits $591,834
Fundraising Expenses $60,493
Program Expenses $771,107
Other Expenses $332,280
TOTAL EXPENSES $924,114

Year-over-Year Comparison

2024 2023 Change
Revenue $861,146 $1,516,362 -0.4%
Expenses $924,114 $1,577,327 -0.4%
Net Income $-62,968 $-60,965 +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

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
17
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
$0
Total Directors
11
$82,212
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MAUREEN NEUFELD EXECUTIVE DI 40.00
Director
$82,212 $0 $82,212
HEATHER PETERSON PRESIDENT 2.00
Officer Director
$0 $0 $0
AUSTIN FISHER VICE PRESIDE 2.00
Officer Director
$0 $0 $0
RAY LEGERE SECRETARY 2.00
Officer Director
$0 $0 $0
ANDREA CORTELYOU TREASURER 2.00
Officer Director
$0 $0 $0
MICHAEL BURNS BOARD MEMBER 1.00
Director
$0 $0 $0
MITCH RAMSEY BOARD MEMBER 1.00
Director
$0 $0 $0
PHIL WAJDA BOARD MEMBER 1.00
Director
$0 $0 $0
BASHIR CHEDRAWEE BOARD MEMBER 1.00
Director
$0 $0 $0
ELLEN MCHALE BOARD MEMBER 1.00
Director
$0 $0 $0
TATE OTTATI BOARD MEMBER 1.00
Director
$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 $861,146 $924,114 $609,319 $-62,968
2023 $1,516,362 $1,577,327 $752,540 $-60,965
2022 $791,188 $897,254 $846,779 $-106,066
2021 $669,388 $665,121 $795,424 $4,267
2020 $781,398 $694,670 $785,024 $86,728
2019 $703,400 $763,942 $690,024 $-60,542
2018 $761,835 $646,627 $738,598 $115,208
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