Chemung County Property Development Corporation

Nonprofit profile at a glance

EIN
813982616
IRS 990 coverage
2018–2025
Forms available
Form 990 2025, Form 990-N 2017
Location
Elmira, NY, USA
Phone
6076547487
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Land Resources Conservation

Reported finances

Revenue
$1,126,666
Expenses
$1,214,057
Assets
$423,522
Liabilities
$2,853

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

Leadership & pay

8 people listed

People named in this filing

  • L THOMAS SWEET (CHAIRMAN)
  • BRENT STERMER (VICE CHAIRMAN)
  • JOSEPH ROMAN (TREASURER)

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

The corporation was established to combat the problem of vacant and abandoned properties in chemung county and the city of elmira and facilitate the return of vacant, abandoned and tax-delinquent properties to productive use.

What it reported doing in 2025

The corporation is formed and operated exclusively for charitable purposes as a land bank, to combat community deterioration in the county of chemung by facilitating the return of vacant, abandoned and tax delinquent properties to productive use in order to eliminate the harms and liabilities caused by such properties, and lessen the burden government and act in the public interest.

Operating model

Revenue model
Grant-funded. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.3%; rating input score 90
  • Program expense ratio: 83.8%; rating input score 84
  • 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -7.8%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.35; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 90.3% of revenue deployed · 83.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Highest-paid contractors: 4 contractors listed · $841K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2025
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.