Nycedc
Legal name: Apple Industrial Development Corp
Nonprofit profile at a glance
- EIN
- 133010779
- IRS 990 coverage
- 2009–2014
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2014
- Location
- New York, NY, USA
- Phone
- 2126195000
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $59,908,872
- Expenses
- $59,536,797
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- KYLE KIMBALL (PRESIDENT)
- ZACHARY SMITH (MEMBER/SENIOR VICE PRESIDENT)
- JOHN CICERELLO (SENIOR VICE PRESIDENT)
- KIM VACCARI (SENIOR VICE PRESIDENT)
- RICHARD COTE (VICE PRESIDENT)
Highest reported compensation
- KYLE KIMBALL (PRESIDENT): $73,130 total reported compensation
- RICHARD COTE (VICE PRESIDENT): $62,987 total reported compensation
- ZACHARY SMITH (MEMBER/SENIOR VICE PRESIDENT): $61,985 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Creating a vibrant, inclusive, and globally competitive economy for all New Yorkers.
What it reported doing in 2014
Pursuant to a contract with the New York city economic development corporation, apple provides certain management and maintenance services to properties owned by the city of New York.
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 100
- Accountability: 67
- Sustainability: 25
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.1%; rating input score 96
- Program expense ratio: 97.9%; rating input score 98
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 67th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 26th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.6%; rating input score 30; 30th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0.2%; rating input score 94; 94th percentile among comparable filings
Growth
- Program expense growth: -101.7% per year; rating input score 0; 0th percentile among comparable filings
- Revenue growth: 0.1% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 7.3% per year; rating input score 100; 61st percentile among comparable filings
Details
- What they do: Mission, programs, and operating context captured from the official website.
- Where the money goes: 96.1% of revenue deployed · 97.9% of spending went to programs
- Governance: 3 of 4 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $58.3M in reported program spending
- Leadership: top reported pay $73K · 13 people listed
- Highest-paid contractors: 5 contractors listed · $2.3M reported
- Consistency: 31 of 31 current checks pass
- Schedules: 5 filed schedules
- Filing history: 6 filing years from 2009 to 2014
- Contacts: How to reach this organization
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 4 of 9 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 30/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.