2024-05-09T10:21:50-05:00 2023-12-31 474526160 EFPR GROUP CPAS PLLC 6390 MAIN STREET SUITE 200 WILLIAMSVILLE NY 14221 990 2023-01-01 141681502 WARREN COUNTY LOCAL DEVELOPMENT CORP WARR 5187616007 11 SOUTH STREET 21 GLENS FALLS NY 12801 MICHAEL WILD CHAIRMAN 5187616007 2024-05-01 1 MICHAEL WILD 999009999 0 DAVID A URBAN CPA P00630018 7166340700 2024-05-01 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z X DIANE DUMOUCHEL 11 SOUTH STREET 21 GLENS FALLS NY 12801 113972 0 X N/A X 1986 NY PROVIDE HOME SITE ASSISTANCE TO LOW INCOME HOMEOWNERS AND LOANS TO SMALL BUSINESSES WHO EMPLOY LOW TO MIDDLE INCOME INDIVIDUALS. 7 7 0 0 0 0 50000 60000 14538 11208 5826 42764 0 0 70364 113972 0 0 0 0 0 0 0 0 0 249349 134667 249349 134667 -178985 -20695 1536460 1522714 0 6949 1536460 1515765 X THE PURPOSE OF THE LDC IS TO PROVIDE NEW JOBS, KEEP EXISTING JOBS AND BROADEN THE LOCAL TAX BASE THROUGH SUPPLEMENTAL FINANCING (E.G. GAP FINANCING OR LENDER OF LAST RESORT), WHILE PROVIDING THE FUNDING NECESSARY TO LEVERAGE PRIVATE SECTOR INVESTMENTS, AND TO PROVIDE ASSISTANCE TO MAKE AVAILABLE FUNDING MECHANISMS FOR IMPROVEMENTS AND UPGRADES TO THOSE LOW TO MODERATE INCOME HOUSEHOLDS IN WARREN COUNTY. 0 0 134667 11208 SEE SCHEDULE O:LOAN FUND: INQUIRIES REGARDING FUNDING SOURCES FOR SMALL BUSINESSES IN WARREN COUNTY WERE RECEIVED ON A LESS THAN REGULAR BASIS THROUGHOUT 2023. WCLDC HAD A TOTAL OF 8 FUNDING OR OTHER SMALL BUSINESS SUPPORT INQUIRIES: - 3 LOAN APPLICATIONS: 1 SUBMITTED AND IS PENDING THE ISSANCE OF ANOTHER COMMERICAL LOAN FIRST; 1 WAS ABLE TO ACCESS A BETTER INTEREST RATE WITH AN SBA VERTERAN LOAN; 1 IS PENDING SITE CONTROL.- 3 WERE LOOKING FOR RESOURCES TO HELP THEM SCALE UP: 2 WANTED GRANT PROGRAMS; 1 SOUGHT A LOAN MODIFICATION FOR AN EXISTING WCLDC LOAN. - 2 WERE LOOKING FOR BUSINESS ADVICE AND NETWORKING CONNECTIONS. THE FOLLOWING IS A GEOGRAPHIC BREAKDOWN OF WHERE THE BUSINESSES WERE LOCATED AND THE NUMBER OF INQUIRES FOR EACH LOCATION: 4 GLENS FALLS, 1 WARRENSBURG, 1 LAKE GEORGE, 2 QUEENSBURY.- THREE (3) LOANS WERE PAID OFF DURING 2023- ONE LOAN WAS GRANTED FORBEARANCE FOR 18 MONTHSSTARTUP-ADK:- TWO 10-WEEK CYCLE CLASSES OF THE STARTUP ADK (AKA MICROENTERPRISE ASSISTANCE PROGRAM) TOOK PLACE IN COLLABORATION WITH SUNY ADIRONDACK AND WASHINGTON COUNTY LDC. THE SPRING CLASS HAD 10 PARTICIPANTS; THE FALL CLASS HAD 8 PARTICIPANTS.- WCLDC CO-HOSTED THE INAUGURAL END-OF-SESSION START-UP ADK FORUM; AN OPEN INVITATION EVENT WITH A PANEL OF FORMER STARTUP ADK GRADUATES SHARING THEIR STARTUP EXPERIENCES.GRANTS - NO GRANTS DURING 2023HOUSING, PUBLIC TRANSIT, ETC - THE WCLDC IS LOOKING AT NEW INVESTMENT PATHWAYS THAT FULFILL THE ORGANIZATION'S MISSION. 134667 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NY X X DIANE DUMOUCHEL 5187616007 11 SOUTH STREET SUITE 201 GLENS FALLS NY 12801 X PETER MCDEVITT CHAIRMAN 1.00 0.00 X X 0 0 0 MICHAEL WILD VICE CHAIRMAN 1.00 0.00 X X 0 0 0 CRAIG LEGGETT TREASURER 1.00 0.00 X X 0 0 0 ROBERT LANDRY SECRETARY 1.00 0.00 X X 0 0 0 EUGENE MERLINO ASSISTANT TREASURER 1.00 0.00 X X 0 0 0 BRAD MACGOWAN DIRECTOR 1.00 0.00 X 0 0 0 MARK SMITH DIRECTOR 1.00 0.00 X 0 0 0 DIANE DUMOUCHEL CHIEF FINANCIAL OFFICER 15.00 0.00 X 0 0 0 JIM SIPLON CHIEF EXECUTIVE OFFICER 5.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 60000 60000 INTEREST AND FEES ON L 531390 10294 10294 PROGRAM SERVICE FEES 531390 914 914 11208 42764 42764 113972 11208 0 42764 50000 50000 2196 2196 7504 7504 BAD DEBT EXPENSE 64660 64660 HOUSING STUDY 10000 10000 OTHER EXPENSES 307 307 134667 134667 0 0 449844 353985 805131 1047617 20833 20000 260652 101112 1536460 1522714 6949 0 6949 X 1536460 1515765 1536460 1515765 1536460 1522714 -20695 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 113972 0 113972 0 113972 134667 0 134667 0 134667 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. AS A RESULT, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PART VI, SECTION A, LINE 6 THE WARREN COUNTY LOCAL DEVELOPMENT CORPORATION HAS 1 SOLE MEMBER, THAT PERSON WHO IS THE CHAIR OF THE WARREN COUNTY BOARD OF SUPERVISORS. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER APPOINTS THE DIRECTORS AND MAY BE CHOSEN FROM THE ELECTED MEMBERS OF THE WARREN COUNTY BOARD OF SUPERVISORS. FORM 990, PART VI, SECTION B, LINE 11B TAX RETURN NOT REVIEWED PRIOR TO FILING BY BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF DIRECTORS ARE GIVEN A COPY OF THE CONFLICT OF INTEREEST POLICY. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE UPON REQUEST FROM THE WARREN COUNTY PLANNING DEPARTMENT. FORM 990, PART XII, LINE 2C NO CHANGES IN THE AUDIT OR OVERSIGHT PROCESS HAVE TAKEN PLACE DURING THE YEAR.