Finger Lakes Regional Telecommunications Development Corp

Nonprofit profile at a glance

EIN
204539370
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Canandaigua, NY, USA
Phone
5853964502
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$616,939
Expenses
$394,602
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • SEAN BARRY (CEO)

People named in this filing

  • MICHAEL MANIKOWSKI (BOARD MEMBER)
  • ROBERT SEEM (CHAIRMAN)
  • JOHN SHEPPARD (VICE CHAIRMAN)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The development and operation of a municipal based open access fiber optic network which will create technology-led economic development throughout the county without bias to geographic location or demographic profile.

What it reported doing in 2023

To provide telecommunication fiber optic infrastructure for the purpose of aiding the finger lakes region of New York by retaining and attracting current and prospective employers. The fiber optic network currently runs over 200 miles.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 51
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.5%; rating input score 35
  • Program expense ratio: 47.2%; rating input score 47
  • 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 36%; rating input score 88; 88th 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%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -16.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -5.7% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -8.5% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 35.5% of revenue deployed · 47.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $186K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2023
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 47/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.