Columbia Economic Development Corp

Nonprofit profile at a glance

EIN
141755710
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Hudson, NY, USA
Phone
5188284718
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,593,553
Expenses
$1,556,145
Assets
$5,638,863
Liabilities
$2,817,815

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

Leadership & pay

17 people listed

Executive titles in this filing

  • F MICHAEL TUCKER (PRESIDENT & CEO)

Highest reported compensation

  • F MICHAEL TUCKER (PRESIDENT & CEO): $146,902 total reported compensation

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

Overview

Mission

Columbia economic development corporation is the lead economic development organization for columbia county, New York. Our mission is to strengthen the area's tax base through economic development and job creation, to assist businesses to locate and expand within the county, and to promote columbia county as a premiere spot for both business investment and personal opportunity.

What it reported doing in 2025

During the year, $1,038,599 was lent to various local businesses offset by $765,497 of loan repayments. Program expenses included payroll expenses for employees working on promoting the corporation's mission and meeting program expectations, while other expenses included office and marketing and consulting expenses related to running the program.

Operating model

Revenue model
Grant-funded. 79% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 70.5%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.9%; rating input score 94; 45th percentile among comparable filings
  • 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 2.3%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 3.62; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 70.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $147K · 17 people listed
  • Highest-paid contractors: 1 contractor listed · $147K reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 13 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.

  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.