Greater Glens Falls Local Development Corporation

Nonprofit profile at a glance

EIN
141674747
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-N 2024
Location
Glens Falls, NY, USA
Phone
5183616395
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$82,745
Expenses
$91,136
Assets
$2,366,175
Liabilities
$273,550

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Patrick Dowd (CEO)

Highest reported compensation

  • Mark Toomey (CFO): $7,164 total reported compensation
  • Patrick Dowd (CEO): $6,500 total reported compensation

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

Overview

Mission

See Schedule O

What it reported doing in 2025

Improvements to City of Glens Falls Businesses and Properties

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 25.96; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 15%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: -5.9% per year; rating input score 0; 39th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $91K in reported program spending
  • Leadership: top reported pay $7K · 9 people listed
  • Consistency: 44 of 44 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.