HUDSON VALLEY ECONOMIC DEVELOPMENT CORPORATION (EIN 800492818) - Form 990 Financial Analysis & Trantor Score

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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

2009

Principal Officer

MICHAEL OATES

Phone

8452202244

Tax Period

2024-01-01 to 2024-12-31

HUDSON VALLEY ECONOMIC DEVELOPMENT CORPORATION, founded in 2009, is a small nonprofit in the Community Improvement sector that reported $852K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $1.0M exceeded revenue, resulting in a 23% operating deficit.

Mission

ECONOMIC DEVELOPMENT AND PROMOTION OF THE HUDSON VALLEY REGION IN NEW YORK.

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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 $851,897

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $851,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $546,896

Fundraising Expenses $0

Other Expenses $499,705

TOTAL EXPENSES $1,046,601

Year-over-Year Comparison

	2024	2023	Change
Revenue	$851,897	$995,465	-0.1%
Expenses	$1,046,601	$899,285	+0.2%
Net Income	$-194,704	$96,180	-3.0%

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

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

118

Independent Members

118

Employees

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

$435,566

Total Directors

$435,566

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL OATES	PRESIDENT &	40.00	Officer Director	$392,547	$43,019	$435,566
ANTHONY GIOFFRE	SECRETARY	5.00	Officer Director	$0	$0	$0
ROBERT LEVINE	IMMEDIATE PA	5.00	Officer Director	$0	$0	$0
ALAN MARKS	TREASURER	5.00	Officer Director	$0	$0	$0
NICK PREDDICE	CHAIRMAN	5.00	Officer 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	$851,897	$1,046,601	$542,397	$-194,704
2023	$995,465	$899,285	$766,647	$96,180
2022	$911,039	$753,738	$640,040	$157,301
2021	$678,738	$540,681	$436,015	$138,057
2020	$626,838	$482,521	$295,315	$144,317
2019	$663,166	$521,026	$132,136	$142,140
2019	$663,016	$547,246	$132,136	$115,770
2018	$584,886	$626,932	$34,870	$-42,046

HUDSON VALLEY ECONOMIC DEVELOPMENT CORPORATION