FINGER LAKES GATEWAY COMMUNITY DEV… - 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

2016

Legal Domicile

Principal Officer

BRUCE BOUGHTON

Phone

6075354341

Tax Period

2024-01-01 to 2024-12-31

FINGER LAKES GATEWAY COMMUNITY DEVELOPMENT CORPORATION, founded in 2016, is a micro nonprofit in the Community Improvement sector that reported $96K in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $42K, a strong 44% operating margin.

Mission

TO LEVERAGE THE STRENGTHS OF SCHUYLER COUNTY AND THE REGION THROUGH ENHANCED COMMERCIAL ACTIVITIES AND ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $53,498

TO PROMOTE THE PROSPERITY OF ITS RESIDENTS AND LEVERAGE THE STRENGTHS OF SCHUYLER COUNTY AND THE REGION THROUGH ENHANCED COMMERCIAL ACTIVITIES AND ECONOMIC DEVELOPMENT

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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 (2024)

Revenue Breakdown

Contributions & Grants $78,632

Program Service Revenue $0

Investment Income $0

Other Revenue $17,294

TOTAL REVENUE $95,926

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,498

Other Expenses $53,498

TOTAL EXPENSES $53,498

Year-over-Year Comparison

	2024	2023	Change
Revenue	$95,926	$157,575	-0.4%
Expenses	$53,498	$33,945	+0.6%
Net Income	$42,428	$123,630	-0.7%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
BENJAMIN STAMP	CHAIR	Officer Director	$0	$0	$0
BRIAN KENNEY	VICE CHAIR	Officer Director	$0	$0	$0
BRUCE BOUGHTON	TREASURER	Officer Director	$0	$0	$0
MICHAELA CHRISTENSEN	SECRETARY	Officer Director	$0	$0	$0
IAN CONBOY	DIRECTOR	Director	$0	$0	$0
CHRIS DUANE	DIRECTOR	Director	$0	$0	$0
JERAKAH HEADY	DIRECTOR	Director	$0	$0	$0
SARAH HOUCK	DIRECTOR	Director	$0	$0	$0
ABBY LANE	DIRECTOR	Director	$0	$0	$0
JEREMY HOURIHAN	DIRECTOR	Director	$0	$0	$0
ASTRA TITUS	DIRECTOR	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	$95,926	$53,498	$520,057	$42,428

FINGER LAKES GATEWAY COMMUNITY DEVELOPMENT CORPORATION