Overview
What is Syracuse Economic Development Corp?
Syracuse Economic Development Corp, based in Syracuse, New York, serves as a vital resource for local businesses and economic development entities within the city. Their mission is to provide both technical and financial assistance, aiming to foster business expansion and generate job opportunities. Acting as a supportive partner, they offer their expertise to entities operating in the city, contributing to the local economy's growth and development. The organization's primary activity involves providing financing for public and private development projects in Syracuse, New York.
Official website here: www.syrgov.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating
Syracuse Economic Development Corp has achieved a notable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity's score is entirely based on its accountability measures, with a perfect assessment in various categories including independent board membership and financial oversight. This high rating signifies a robust adherence to transparency and responsible financial management.
The organization demonstrates excellent governance, with a fully independent board and comprehensive policies in place to address conflicts of interest and whistleblower protections. Its financial health is further evidenced by a favorable liabilities to assets ratio and a complete allocation of its expenses toward program activities. These strengths highlight the organization's commitment to using its resources effectively.
While the rating is overwhelmingly positive, potential donors and stakeholders should still be mindful of any areas that could be explored further, such as the organization's program impact and outreach effectiveness. Overall, the Syracuse Economic Development Corp stands out for its financial integrity and governance practices, making it a reliable option for those looking to support community economic development initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Syracuse Economic Development Corp legitimate?
Syracuse Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Syracuse Economic Development Corp 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.
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Other Salaries and Wages: $80,757
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Official website here: www.syrgov.net
What is the mission statement of Syracuse Economic Development Corp?
The Syracuse Economic Development Corporation (SEDCO) is committed to providing technical and financial assistance to businesses and local economic development entities operating within its jurisdiction. This assistance is aimed at facilitating business expansion and job creation. In line with this mission, SEDCO provides financing for public-private development projects. By doing so, it contributes to the economic growth and development of the community it serves.
Official website here: www.syrgov.net
Who is the CEO of Syracuse Economic Development Corp?
Eric Ennis is the Vice President of Syracuse Economic Development Corp.
Official website here: www.syrgov.net
What is the revenue of Syracuse Economic Development Corp?
Syracuse Economic Development Corp's revenue in 2022 was $2,875,453.
Official website here: www.syrgov.net
Who are the executives of Syracuse Economic Development Corp and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.syrgov.net
Where can I find the form 990 for Syracuse Economic Development Corp?
Syracuse Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.syrgov.net
Learn more at the official website: www.syrgov.net
Mission Statement of Syracuse Economic Development Corp
Syracuse Economic Development Corporation (SEDCO) is committed to supporting the growth and expansion of businesses and local economic development entities within the city of Syracuse, New York. Its primary objective is to provide both technical and financial assistance to these organizations, with the ultimate goal of creating new job opportunities. By offering such assistance, SEDCO aims to strengthen the local economy and contribute to its overall development. In addition to this, SEDCO provides financing for public-private development projects within the city, further contributing to its economic growth and vitality.
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Impact
October, 2024
The Syracuse Economic Development Corporation (SEDCO) plays a crucial role in fostering economic growth in Syracuse, New York. By offering both technical and financial assistance, SEDCO supports local businesses and economic development entities, enabling them to expand operations and create jobs.
Through financing public-private development projects, SEDCO drives improvements that benefit the community. This targeted support facilitates business expansion, thereby enhancing the local economy and providing employment opportunities. Ultimately, SEDCO’s efforts contribute to a thriving business environment, which is essential for the overall vitality and development of Syracuse.
This information is meant to be a general summary of Syracuse Economic Development Corp. 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.
- Program Service Revenue: $158,186
- Gross Receipts: $2,875,453
Assets and Liabilities:
- Total Assets: $17,091,252
- Total Liabilities: $3,728,347
- Net Assets: $13,362,905
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$115,266
MORTGAGE INTEREST INCO
Revenue
$42,900
OTHER INCOME
Revenue
$20
Organization Details
Founding Year
1979
Phone
(315) 448-8100Principal Officer
Eric Ennis
Main Address
201 E WASHINGTON ST 6, SYRACUSE, NY, 132021433
Website
www.syrgov.netNTEE Category
Code: S310 - Community improvement
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