Overview
What is Troy Local Development Corporation?
Troy Local Development Corporation (TLDC) is a private, nonprofit organization established in 1987, situated in Troy, New York. Its primary mission involves constructing, acquiring, rehabilitating, and improving buildings or sites within the city, providing financial assistance to accomplish similar improvement purposes. The TLDC aids in fostering employment opportunities for local residents, including business retention and attraction, job creation, and retention. Additionally, it serves as a liaison with federal, state, and other local authorities, disseminating information and offering technical advice. The organization has the authority to acquire properties by purchase or lease, borrow funds, and issue bonds, notes, and other obligations. Its programs include grant-making for real property improvements and offering low-interest rate advances to accomplish similar improvement purposes. The TLDC's primary goal is to enhance regionally-targeted economic growth and development in Troy, New York.
Official website here: www.troyny.gov/departments/economicdevelopment
Is Troy Local Development Corporation legitimate?
Troy Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Troy Local Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $15,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.troyny.gov/departments/economicdevelopment
What is the mission statement of Troy Local Development Corporation?
The Troy Local Development Corporation, established in 1987, is a private, not-for-profit organization with a mission to enhance buildings and sites within its city. Its primary goal is to facilitate the construction, acquisition, rehabilitation, and improvement of these structures. The corporation also aims to create employment opportunities for local residents, focusing on business retention and attraction, as well as job creation and retention. Furthermore, it serves as a liaison between federal, state, and local authorities, disseminating information and offering technical advice. The Troy Local Development Corporation has the authority to acquire property, borrow funds, provide financial assistance, and issue negotiable bonds, notes, and other obligations.
Official website here: www.troyny.gov/departments/economicdevelopment
Who is the CEO of Troy Local Development Corporation?
Steven Strichman is the Chairman of Troy Local Development Corporation.
Official website here: www.troyny.gov/departments/economicdevelopment
What is the revenue of Troy Local Development Corporation?
Troy Local Development Corporation's revenue in 2022 was $290,738.
Official website here: www.troyny.gov/departments/economicdevelopment
Who are the executives of Troy Local Development Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $78,620
- Other: $0
- Compensation: $15,000
- Related: $86,751
- Other: $0
Official website here: www.troyny.gov/departments/economicdevelopment
Where can I find the form 990 for Troy Local Development Corporation?
Troy Local Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.troyny.gov/departments/economicdevelopment
Learn more at the official website: www.troyny.gov/departments/economicdevelopment
Mission Statement of Troy Local Development Corporation
Troy Local Development Corporation, established in 1987, is a private, not-for-profit organization with a mission to construct, acquire, rehabilitate, and improve buildings or sites within the city. This corporation aims to provide financial assistance for similar projects, fostering employment opportunities for local residents. Its activities encompass business retention and attraction, as well as job creation and retention. Furthermore, Troy Local Development Corporation serves as a liaison between federal, state, and local authorities, disseminating information and offering technical advice. Equipped with the authority to acquire real or personal property through purchase or lease, borrow funds, and issue negotiable bonds, notes, and other obligations, this organization plays a significant role in the city's development and growth.
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Impact
October, 2024
The Troy Local Development Corporation (TLDC) significantly impacts the city of Troy, NY, through its dedicated efforts to construct, acquire, rehabilitate, and improve buildings and sites. Established in 1987, TLDC plays a crucial role in fostering economic development within the community. By providing financial assistance—such as low-interest rate loans and grants for real property improvements—the TLDC facilitates enhancements that spark regional economic growth.
One of the primary areas of focus for TLDC is the creation and retention of employment opportunities for Troy residents. This involves not only attracting new businesses to the area but also supporting existing ones, thereby ensuring sustainable job growth. The TLDC acts as a liaison with federal, state, and local authorities, disseminating vital information and offering technical advice to enhance community development projects.
Additionally, TLDC’s authority to acquire real or personal property enables it to take proactive measures in urban renewal and site improvement, further contributing to Troy's revitalization efforts. Through these initiatives, TLDC ensures that the community not only improves its physical infrastructure but also bolsters its economic vitality, leading to a stronger and more resilient Troy.
This information is meant to be a general summary of Troy Local Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $48,280
- Program Service Revenue: $73,948
- Gross Receipts: $290,738
Assets and Liabilities:
- Total Assets: $4,010,072
- Total Liabilities: $1,901,814
- Net Assets: $2,108,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$73,948
Organization Details
Founding Year
1987
Phone
(518) 270-4404Principal Officer
Steven Strichman
Main Address
CO CITY OF TROY 433 RIVER STREET, TROY, NY, 12180
NTEE Category
Code: S20Z - Community improvement
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