Overview
What is Excelsior Local Development Corporation?
The Excelsior Local Development Corporation is a nonprofit organization committed to assisting small businesses in New York. Their primary objective is to help small businesses acquire real estate and undertake construction, renovation, or other improvements, thereby fostering business growth and enhancing the economic well-being of the state. They also encourage the establishment of new businesses and industries in New York and provide financing to both new and existing ones to create and retain jobs within the state.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star Rating
Excelsior Local Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, highlighting its strong performance in accountability and finance. The charity's overall score is primarily driven by its perfect score in various financial metrics, demonstrating effective financial management and transparency. Notably, the organization boasts a high percentage of independent board members, reinforcing its commitment to governance and oversight.
The financial health of the organization is exemplified by its low liabilities-to-assets ratio and a high program expense ratio, indicating that a significant portion of its resources is devoted to its programs and services. The organization also has robust policies in place, including conflict of interest and whistleblower policies, which contribute to its high score in accountability.
While the data reflects significant strengths, the summary does not indicate any specific limitations or concerns regarding the organization's operations, suggesting a well-managed entity committed to its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Excelsior Local Development Corporation legitimate?
Excelsior Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Excelsior 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $118,284
For more financial information, click here
What is the mission statement of Excelsior Local Development Corporation?
The Excelsior Local Development Corporation's mission is centered around supporting small businesses. It aims to assist these businesses in acquiring real estate and making necessary improvements, thereby fostering business growth and improving the economic well-being of the state. The corporation also encourages the establishment of new businesses and industries within the state, and provides financing to both new and existing ventures. Its primary objective is to create and retain jobs within the state.
Who is the CEO of Excelsior Local Development Corporation?
Patrick J Mackrell is the CEO of Excelsior Local Development Corporation The CEO's salary of Excelsior Local Development Corporation is $0 and their total compensation is $100,000.
What is the revenue of Excelsior Local Development Corporation?
Excelsior Local Development Corporation's revenue in 2024 was $509,067.
Who are the executives of Excelsior Local Development Corporation and what are their salaries?
The average compensation at Excelsior Local Development Corporation during 2024 was $118,284. There is 1 employee at Excelsior Local Development Corporation.
Here are 5 key members and their salaries (Excelsior Local Development Corporation's CEO's salary is $0 and their total compensation is $100,000):
- Compensation: $0
- Related: $100,000
- Other: $0
- Compensation: $0
- Related: $450,962
- Other: $0
- Compensation: $0
- Related: $6,900
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $290,808
- Other: $0
Where can I find the form 990 for Excelsior Local Development Corporation?
Excelsior Local Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Excelsior Local Development Corporation
Excelsior Local Development Corporation is an organization dedicated to supporting the growth and prosperity of small businesses within New York State. Their primary mission is to aid these businesses in the acquisition of real estate, as well as construction, renovation, or any necessary improvements on these properties. By doing so, they aim to foster a conducive environment for the expansion and enhancement of small businesses, thereby promoting economic welfare in the state.
Furthermore, Excelsior Local Development Corporation plays a significant role in encouraging the establishment of new businesses and industries within New York State. They offer financing solutions to both new and existing businesses and industries, thereby facilitating job creation and retention within the state. Their ultimate goal is to contribute to the overall business prosperity and economic well-being of New York State.
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Impact
July, 2024
Excelsior Local Development Corporation's impact can be seen in the tangible support it provides to small businesses in New York. By facilitating the acquisition of real property, financing construction, renovation, and other improvements, this organization directly contributes to the business prosperity and economic welfare of the state. Additionally, by encouraging and assisting in the location of new business and industry in New York, Excelsior Local Development Corporation helps to stimulate economic growth and create job opportunities within the state. Through its robust mission and dedication to community improvement, this organization plays a vital role in fostering a thriving business environment and enhancing the overall economic landscape of New York.
This information is meant to be a general summary of Excelsior 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 2024.
- Program Service Revenue: $509,067
- Gross Receipts: $509,067
Assets and Liabilities:
- Total Assets: $5,240,927
- Total Liabilities: $2,542,142
- Net Assets: $2,698,785
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$451,894
LLC INCOME
Revenue
$46,373
ORIGINATION FEES
Revenue
$10,800
Organization Details
Founding Year
2019
Principal Officer
Chris Levy
NTEE Category
Code: S30 - Community improvement
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