nybdc local development corporation
nybdc local development corporation
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About this organization
Revenue
$7,883,666
Expenses
$7,171,175
Mission
to assist small businesses in the acquisition of real property, and construction, renovation or other improvements thereon, and thereby promote and encourage the business prosperity and economic welfare of the state of new york; to encourage and assist in the location of new business and industry in the state of new york; and to provide financing to both new and existing businesses and industry; and to create and retain jobs within the state of new york.
About
the corporation makes loans to small businesses on terms that would not be reasonably available from commercial lenders doing business in nys in order to: relieve and reduce unemployment, promote and provide for additional and maximum employment, aid communities in nys by encouraging the development and/or retention of industry. the corporation continues to evolve and offer a wide range of financial and business advisory services to small businesses in new york state and is now operating under the name excelsior growth fund.
Interesting data from their 2020 990 filing
The filing reveals the mission of the non-profit as “See schedule o”.
When detailing its duties, they were outlined as: “To assist small businesses in the acquisition of real property, and construction, renovation or other improvements thereon, and thereby promote and encourage the business prosperity and economic welfare of the state of new york; to encourage and assist in the location of new business and industry in the state of new york; and to provide financing to both new and existing businesses and industry; and to create and retain jobs within the state of new york.”.
- According to the law, the state where the non-profit operates has been reported as NY.
- The filing specifies that the non-profit's address in 2020 was 50 BEAVER STREET, ALBANY, NY, 12207.
- The non-profit's form for the year 2020 reports a total of 7 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $712,491.
- The organization has 8 independent voting members.
- The organization was formed in 2009.
- The organization pays $2,085,374 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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