Nonprofit · EIN 14-1777575
TROYREDEVELOPMENT FOUNDATION INC
Tax-exempt (reinstated) · TROY, NY 12180
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $300,121 | $1,958 | $298,163 | $476,194 | $0 | $476,194 |
| December 31, 2023 | 990 | $437,379 | $1,070,427 | -$633,048 | $178,031 | $0 | $178,031 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $299,988
- Program service revenue
- $0
- Investment income
- $133
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,908
- Management and general (functional)
- $1,958
Balance sheet and other
- Total assets, start of year
- $178,031
- Total assets, end of year
- $476,194
- Total liabilities, end of year
- $0
- Net assets, end of year
- $476,194
- Net assets without donor restrictions
- $476,194
- Gross receipts
- $300,121
- Employees
- 0
- Year formed
- 1994
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARTIN A SCHMIDT | Treasurer Trustee or director, Officer | 2 | $0 |
| JENNY RAO | Vice President Trustee or director, Officer | 2 | $0 |
| MATTHEW SHAFTEL | Board Member Trustee or director | 2 | $0 |
| LORI SANTOS | President Trustee or director, Officer | 2 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARTIN A SCHMIDT | Treasurer Trustee or director, Officer | 2 | $0 |
| Jenny Rao | Board Member Trustee or director | 2 | $0 |
| Christopher Ames | President Trustee or director, Officer | 2 | $0 |
| Lori Santos | Vice President Trustee or director, Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 110 8TH ST - BUILDING 2021, TROY, NY 12180-3522
- Principal officer (990 for 2024)
- Denise Mormino
- Signed the 990
- Denise Mormino, President
- Phone
- (518) 276-6175
- Return prepared by
- Marchese & Espey CPAS PC
Mission
TO ENABLE NOT-FOR-PROFIT INSTITUTIONS LOCATED IN THE CITY OF TROY TO FINANCIALLY ASSIST AND OTHERWISE ASSIST THE CITY OF TROY; TO FOSTER ECONOMIC DEVELOPMENT AND TO ASSIST THE CITY OF TROY IN SOLVING URBAN PROBLEMS; AND, TO PROVIDE THE CITY OF TROY FUNDS TO BE USED TO ENHANCE ECONOMIC DEVELOPMENT AND FORMULATE EDUCATIONAL PROGRAMS WHICH WILL HELP ASSURE THE CITY'S ECONOMIC RESURGENCE.
Program accomplishments
- PROVIDED ECONOMIC SUPPORT AND ASSISTED WITH ENHANCING THE CITY OF TROY, NEW YORK AND ITS SURROUNDS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 14-1777575
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2012
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $476,194
- Income (IRS master file)
- $300,121
Revocation and reinstatement
- Exemption revoked
- May 15, 2010
- Posted by the IRS
- September 12, 2012
- Reinstated
- Effective January 15, 2012
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $300,121 | $1,958 | $476,194 | XML |
| 990 | December 2023 | $437,379 | $1,070,427 | $178,031 | XML |
| 990 | December 2022 | $622,369 | $559,542 | $811,079 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 14-1777575).
Questions about TROYREDEVELOPMENT FOUNDATION INC
- What is the EIN of TROYREDEVELOPMENT FOUNDATION INC?
- The employer identification number (EIN) of TROYREDEVELOPMENT FOUNDATION INC is 14-1777575.
- Is TROYREDEVELOPMENT FOUNDATION INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2010 and reinstated it effective January 15, 2012.
- Are donations to TROYREDEVELOPMENT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TROYREDEVELOPMENT FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TROYREDEVELOPMENT FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TROYREDEVELOPMENT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TROYREDEVELOPMENT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Denise Mormino.
- Who are the officers and directors of TROYREDEVELOPMENT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does TROYREDEVELOPMENT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $300,121, expenses of $1,958 and total assets of $476,194 at year end.
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All nonprofits in TROY · New York · Community improvement and capacity building