Schoharie Economic Enterprise Corporation

Nonprofit profile at a glance

EIN
833511645
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Schoharie, NY, USA
Phone
5185171700
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Home Economics

Reported finances

Revenue
$894,105
Expenses
$472,977
Assets
$1,845,495
Liabilities
$193,890

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

Leadership & pay

9 people listed

Highest reported compensation

  • JULIANNE PACATTE (Executive Dir.): $144,966 total reported compensation

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

Overview

Mission

The Schoharie Economic Enterprise Corporation (SEEC), formed in 2019, is a not-for-profit organization dedicated to economic development in Schoharie County by promoting, fostering and encouraging the development of business enterprises to combat declines in the regions workforce, overall population, and median household income. SEEC is supported by donations from various corporations, business leaders, and individuals.

What it reported doing in 2024

Grant support - SEEC is focused on securing more capital resources to advance local economic and community development priorities. SEEC will work with businesses and municipal partners to identify, apply, and administer federal, state and local grants that may directly result in job creation and capital investment. SEEC is prequalified at the state and federal level as an approved grant administrator.

Operating model

Revenue model
Donor-supported. 87% 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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.1%; rating input score 52
  • Program expense ratio: 89.7%; rating input score 90
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: 47.1%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 3.9; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 30.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 23.8% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 52.1% of revenue deployed · 89.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $424K in reported program spending
  • Leadership: top reported pay $145K · 9 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.