Greater Syracuse Property Development Corporation
Nonprofit profile at a glance
- EIN
- 462382007
- IRS 990 coverage
- 2014–2017
- Forms available
- Form 990 2017
- Location
- Syracuse, NY, USA
- Phone
- 3154222301
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Public, Society Benefit N.E.C.
Reported finances
- Revenue
- $3,813,121
- Expenses
- $4,025,941
- Assets
- $6,042,694
- Liabilities
- $1,290,368
Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.
Leadership & pay
5 people listed
People named in this filing
- EL-JAVA ABDUL-QADIR (DIRECTOR)
- VITO SCISCIOLI (CHAIR)
- JULIE CERIO (SECRETARY)
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 2017. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To address the problems of vacant, abandoned, or tax delinquent property in the city of syracuse and the county of onondaga in a coordinated manner through the acquisition of real property pursuant to New York not-for-profit corporations law section 1608 and returning that property to productive use in order to strengthen the economy, improve the quality of life, and improve the financial condition of the municipalities, through the use of the powers and tools granted to land banks by the laws of the state of New York.
What it reported doing in 2017
The organization acquired 170 properties during the year via municipal tax-forclosure, donation, and purchase. Upon acquisition, the organization's maintenance contractor evaluated each property, addressed any safety hazards, and reported its condition back to the organization. Based on this information along with location, adjacent acquisition opportunities and redevelopment plans, the organization developed a strategy for each property such as stabilization, demolition, sell as-is, lease, or assemble with adjacent properties. Once a property is available for purchase it is listed on the organization's website where interested parties can obtain instructions to submit a purchase application. The organization continuously carried out day-to-day maintenance and periodic inspections on each property in its possession. As of the end of 2017 the organization had approximately 67 properties available for purchase on its website, and 146 properties were sold.in 2017 the land bank facilitated the demolition of 67 dilapidated and hazardous abandoned structures. In addition, they obtained grant funding from the office of the ny attorney general to renovate homes for low-income owner occupants and, with their co-development partner, completed the renovation of 7 of these homes in 2017.
Operating model
- Revenue model
- Grant-funded. 86% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The required major-donor schedule is missing or incomplete and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 75
- Accountability: 82
- Sustainability: 41
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 84.8%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: No; rating input score 0
- Related-party transparency: Limited
Accountability
- Independent voting board: 80%; rating input score 80; 14th 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: -5.6%; rating input score 16; 16th percentile among comparable filings
- Total-asset coverage ratio: 1.5; rating input score 56; 56th percentile among comparable filings
- Liabilities to assets ratio: 0.21; rating input score 48; 48th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings
Growth
- Program expense growth: 11.4% per year; rating input score 100; 75th percentile among comparable filings
- Revenue growth: -3.3% per year; rating input score 0; 10th percentile among comparable filings
- Asset growth: 13.7% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 84.8% of spending went to programs
- Governance: 4 of 5 board members independent · 6 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $3.4M in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Highest-paid contractors: 1 contractor listed · $115K reported
- Consistency: 31 of 31 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 4 filing years from 2014 to 2017
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Major donor itemization scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 16/100.
- Review — Accountability: Governance controls: Document-retention policy not reported.
- Review — Sustainability: Total-asset coverage ratio scored 56/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 48/100.