Adirondack Economic Development Corp in Saranac Lake, New York (NY)

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Adirondack Economic Development Corp
Employer Identification Number (EIN)222243540
Name of OrganizationAdirondack Economic Development Corp
Address67 Main St Ste 300, Saranac Lake, NY 12983-5747
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Attracting new industry or retaining industry in an area, Job training, counseling, or assistance
SubsectionCharitable Organization
Ruling Date07/1996
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,225,285
Amount of Income$352,172
Form 990 Revenue Amount$352,172
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2011: $352,172 (it was $498,753 in 2010)
This organization: 

 $352,172
Other organizations performing similar types of work: 

 $152,071

Assets in 2011: $3,225,285 (it was $2,707,818 in 2010)
Adirondack Economic Development Corp: 

 $3,225,285
Other organizations performing similar types of work: 

 $145,197

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$352,172
Contributions, Gifts, Grants and Other Similar Amounts$218,386
Program Service Revenue$130,864
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$2,922
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$444,645
Compensation of current officers, directors, trustees, and key employees$85,000
Other salaries and wages$77,978
Payroll taxes$0
Professional fundraising services$0
Other$281,667
Balance Sheet (for 2011)
Total assets$3,225,285
Total liabilities$2,620,759
Tax-exempt bond liabilities$14,401
Secured mortgages and notes payable to unrelated third parties$2,551,446
Unsecured notes and loans payable to unrelated third parties$0
Other$54,912
Total net assets or fund balances$604,526
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$1,382,695
Gifts, grants, contributions, and membership fees received$1,312,822
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$69,873
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Metropolitan Entertainment & Convention Authority455 N 10th St, Omaha, NE 68102-1151NE1997-12$42,811,850
2Structured Employment Economic Development Corporation915 Broadway Fl 17, New York, NY 10010-7116NY1977-01$36,186,581
3Columbus Downtown Development Corporation150 S Front St Ste 210, Columbus, OH 43215-7105OH2002-10$15,371,865
4Seedco Financial Services Inc915 Broadway Fl 17, New York, NY 10010-7116NY2005-12$8,556,236
5Luther Forest Technology Campus Economic Development Corporation28 Clinton Street, Saratoga Springs, NY 12866-2143NY2006-04$4,276,433
6Genesee Gateway Local Development Corporation99 Med Tech Dr Ste 106, Batavia, NY 14020-9712NY2005-12$3,260,176
7Renaissance Economic Development Corporation111 Division St, New York, NY 10002-6103NY1998-03$1,635,604
8East Harlem Business Capital Corporation357 E 116th St Fl 3, New York, NY 10029-1543NY1999-01$777,876
9Downtown New Rochelle Business Improvement Dist Mgmt Assoc Inc515 North Ave, New Rochelle, NY 10801-3405NY2000-07$642,357
10Hudson Valley Tourism Inc3 Neptune Rd Ste Q17, Poughkeepsie, NY 12601-5571NY1999-11$97,610
11Non-Profit Assistance CorporationSte 1206, New York, NY 10005NY1997-10$6,540,127
12Arsenal Business And Technology Partnership Ltd44 Dallliba Ave, Watervliet, NY 12189-4017NY2000-07$4,861,508
13Near West Side Initiative Inc350 West Fayette St Room 405, Syracuse, NY 13202-1202NY2009-04$4,858,823
14Jamestown Center City Development Corporation319 West Third Street, Jamestown, NY 14701-4933NY2000-07$3,091,486
15Addicts Rehabilitation Center Foundation Inc2015 Madison Ave, New York, NY 10035-1015NY1994-09$2,125,908
16Richardson Center Corporation200 Delaware Avenue, Buffalo, NY 14202-2150NY2007-07$1,965,592
17Long Island High Technology Incubator Inc25 East Loop Road, Stony Brook, NY 11790-3350NY1995-12$1,609,447
18Greater Rochester Enterprise Inc100 Chestnut St Ste 1910, Rochester, NY 14604-2410NY2002-07$1,574,942
19Downstate Technology Center Inc450 Clarkson Ave Box 65, Brooklyn, NY 11203-2012NY2003-01$1,157,503
20Myrtle Avr Comrcl Rev & Dev Project Local Development Corporation472 Myrtle Ave 2nd Fl, Brooklyn, NY 11205-2522NY2000-05$778,646
Number of organizations performing similar types of work
Alaska21
Alabama54
Arkansas25
Arizona31
California261
Colorado37
Connecticut34
District of Columbia26
Delaware6
Florida103
Georgia58
Hawaii25
Iowa53
Idaho11
Illinois91
Indiana71
Kansas41
Kentucky44
Louisiana61
Massachusetts41
Maryland40
Maine25
Michigan84
Minnesota44
Missouri82
Mississippi33
Montana31
North Carolina116
North Dakota10
Nebraska29
New Hampshire22
New Jersey49
New Mexico37
Nevada13
New York189
Ohio130
Oklahoma36
Oregon40
Pennsylvania158
Rhode Island5
South Carolina55
South Dakota31
Tennessee49
Texas152
Utah16
Virginia56
Vermont15
Washington43
Wisconsin56
West Virginia33
Wyoming15
International9
Total2,797

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