Cape Vincent Local Development Corporation

Nonprofit profile at a glance

EIN
365042770
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-PF 2023
Location
Cape Vincent, NY, USA
Phone
3154084530
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$54,914
Expenses
$62,630
Assets
$170,633
Liabilities
$575

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • DAVID SNOW (BOARD MEMBER)
  • JIM MCQUEENY (BOARD MEMBER)
  • MARY FARRELL (CHAIR - PRIOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To serve as a resource to the cape vincent community in attracting investment, fostering compatible growth, and protecting/enhancing quality of life through advancement of our strategic imperatives.

What it reported doing in 2025

The corporation's mission and public objective, which the corporation'spurpose will achieve, includes the lessening of the burdens of government by undertaking and promoting economic development initiatives in the town of cape vincent, New York, that will include community-based economic development activities including the administration of business retention and attraction activities, providlng financial assistance to businesses and organizations within the town, undertaking real estate aud infrastructure development projects, providing real estate and infrastructure project finance, and any other activities permissible under the not-for-profit corporation.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 26.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: -62.2% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 73.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $46K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.