Steuben Area Economic Development Corp

Nonprofit profile at a glance

EIN
161245812
IRS 990 coverage
2012–2025
Forms available
Form 990 2025, Form 990-EZ 2016
Location
Bath, NY, USA
Phone
6077763316
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$4,943
Expenses
$14,192
Assets
$214,725
Liabilities
$0

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

Leadership & pay

7 people listed

People named in this filing

  • DEAN STROBEL (CHAIRMAN)
  • KELLY FITZPATRICK (VICE CHAIR)
  • MIKE DAVIDSON (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the steuben area economic development corporation is to promote the general welfare of the residents of steuben county, lessen the burden to government entities, aid in relieving and reducing adult unemployment, and act otherwise in the public interest.the corporation's goal is to stimulate the economy and improve the quality of life in steuben county by strengthening the workforce, creating jobs, encouraging and leveraging investment in the county's economic development infrastructure, and increasing the tax base.the corporation will assist and participate in the planning, funding, and development of sites, buildings, infrastructure, and other programs and activities necessary to stimulate economic development activities, attract new businesses, and expand and develop existing businesses. It also will instruct or train individuals to improve or develop their capacity for employment, carry on research, and own and develop property and other assets.

What it reported doing in 2025

The corporation is organized to promote the economic welfare of inhabitants of steuben county, ny and to actively promote, attract, encourage, and develop economically sound commerce and industry by enhancing job opportunities.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 37.7%; rating input score 38
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: -187.1%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 15.13; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -55.5% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -1.9% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 37.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2012 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: Program expense ratio scored 38/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.