Hudson Valley Agri-business Development Corp

Nonprofit profile at a glance

EIN
753225637
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Hudson, NY, USA
Phone
5184325360
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Rural Economic Development

Official website

Reported finances

Revenue
$2,753,801
Expenses
$2,010,040
Assets
$3,715,227
Liabilities
$1,979,710

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MARK DOYLE (PRESIDENT)
  • WALTER GARIGLIANO (VICE PRESIDENT)
  • TODD ERLING (EXECUTIVE DIRECTOR)

Highest reported compensation

  • TODD ERLING (EXECUTIVE DIRECTOR): $208,888 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Its purposes include agribusiness technical assistance and support, conservation of agricultural resources, carrying on scientific research for the purpose of aiding the hudson valley by attracting agricultural producers, related businesses or processors to the area, assisting in the promotion of the hudson valley agricultural industry and its products in support of promoting economic development, and carrying on activities that reduce or eliminate the burdens of county and regional governments.

What it reported doing in 2024

Access to capital: in 2018, hvadc was designated as one of eight third-party lenders participating in the New York job development authority's (jda) agriculture loan fund program. With a focus on the mid-hudson and capital regions, the hvadc loan program issues low interest loans between $50,000 and $200,000 to small business owners; increase the availability of credit, investment capital and financial products and services to such low-income communities and to people who lack access to financing to stimulate and promote community and economic development in economically depressed and distressed urban and rural communities in the state of New York, particularly in the hudson valley region and those underserved by traditional financial institutions. In addition to the loan opportunity, hvadc is partnering with the hudson mohawk resource conservation and development council, inc. (hmrc&d) to administer the grown & certified (g&c) producer grant program in the capital district region. The g&c producer grants will be awarded for capital projects that will enable qualified agricultural producers to meet food safety standards necessary for participation in the program. Eligible agricultural producers can apply for up to 90% of their total project cost, not to exceed $50,000.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.2%; rating input score 63
  • Program expense ratio: 86.5%; rating input score 86
  • Fundraising efficiency: $50.23 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 27%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.85; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 12.9% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 23% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 63.2% of revenue deployed · 86.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $209K · 6 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $111K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 7 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.