MONROE COUNTY INDUSTRIAL DEVELOPME… - 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

1962

Legal Domicile

Principal Officer

HANIF ABDUL-WAHID

Phone

5857532000

Tax Period

2024-01-01 to 2024-12-31

MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION, founded in 1962, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2024. Revenue surged 50% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 51% operating margin.

Mission

THE MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION (MCIDC) FOSTERS ECONOMIC GROWTH AND OPPORTUNITY BY PROVIDING ACCESS TO CAPITAL, INCLUDING MICROLENDING, TO SUPPORT SMALL BUSINESSES, ENTREPRENEURS, ESTABLISHED EMPLOYERS, AND NOT-FOR-PROFIT ORGANIZATIONS. THROUGH STRATEGIC INVESTMENTS IN WORKFORCE DEVELOPMENT AND BUSINESS EXPANSION, MCIDC PROMOTES JOB CREATION, RETENTION, AND THE LONG-TERM PROSPERITY OF MONROE COUNTY AND THE GREATER ROCHESTER REGION.

Program Service Accomplishments

Program 1

PROVIDED FINANCIAL ASSISTANCE TO JOB CREATING BUSINESSES THAT DEMONSTRATED A NEED FOR FINANCING. DURING 2024, 54 BUSINESSES WERE ASSISTED.

Program 2

THIS MICROLOAN PROGRAM PROVIDES LOANS FROM $10,000 TO $50,000 TO HELP SMALL BUSINESSES WITH MOST BUSINESS RELATED COSTS. THE MICRO ADVANTAGE LOAN PROGRAM PROVIDES FUNDS TO BUSINESSES THAT MAY NOT...

THIS MICROLOAN PROGRAM PROVIDES LOANS FROM $10,000 TO $50,000 TO HELP SMALL BUSINESSES WITH MOST BUSINESS RELATED COSTS. THE MICRO ADVANTAGE LOAN PROGRAM PROVIDES FUNDS TO BUSINESSES THAT MAY NOT OTHERWISE BE A CANDIDATE FOR TRADITIONAL BANK LOANS. THIS LOAN PROGRAM GIVES YOU THE OPPORTUNITY TO SECURE FUNDING WHILE LEARNING THE LOAN PROCESS AND BUILDING YOU CREDIT IN THE PROCESS.

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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 $2,076,209

Program Service Revenue $734,276

Investment Income $309,293

Other Revenue $0

TOTAL REVENUE $3,119,778

Expense Breakdown

Grants Paid $517,379

Salaries & Benefits $435,396

Fundraising Expenses $0

Other Expenses $561,995

TOTAL EXPENSES $1,514,770

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,119,778	$2,083,927	+0.5%
Expenses	$1,514,770	$1,124,758	+0.3%
Net Income	$1,605,008	$959,169	+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

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

$96,724

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY BARKER	TREASURER	5.00	Officer Director	$0	$0	$0
HANIF ABDUL-WAHID	PRESIDENT	5.00	Officer Director	$0	$0	$0
PHILIP SMITH	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER JOHNSTON	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
ZACK PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY BROWN	DIRECTOR	1.00	Director	$0	$0	$0
RYAN FELTNER	DIRECTOR	1.00	Director	$0	$0	$0
BRETT OWEN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC ROGERS	SECRETARY	1.00	Officer Director	$0	$0	$0
BRITTANY BACHMAN	DIRECTOR- JOINED DURING THE YEAR	1.00	Director	$0	$0	$0
JOE SAYRE	DIRECTOR- JOINED DURING THE YEAR	1.00	Director	$0	$0	$0
CHRISTOPHER RUSH	DIRECTOR- JOINED DURING THE YEAR	1.00	Director	$0	$0	$0
CARLA VASQUEZ	DIRECTOR- JOINED DURING THE YEAR	1.00	Director	$0	$0	$0
ANA LISS	EXECUTIVE DIRECTOR	20.00	Officer	$0	$0	$0
TONY SCIARABBA	CDC MANAGER	40.00	Officer	$96,724	$0	$96,724

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	$3,119,778	$1,514,770	$9,332,479	$1,605,008
2023	$2,083,927	$1,124,758	$7,624,113	$959,169
2022	$361,369	$957,647	$6,771,194	$-596,278
2021	$660,524	$1,000,294	$7,440,764	$-339,770
2020	$2,511,089	$1,107,850	$7,696,649	$1,403,239
2019	$503,367	$1,453,919	$6,463,028	$-950,552
2018	$438,383	$1,188,291	$7,902,588	$-749,908

MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION