Syracuse Economic Development Corp

Nonprofit profile at a glance

EIN
161159198
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Syracuse, NY, USA
Phone
3154488100
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$214,549
Expenses
$983,495
Assets
$16,130,760
Liabilities
$1,194,107

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ANDREW FISH (VICE PRESIDENT)
  • ERIC ENNIS (PRESIDENT)

People named in this filing

  • SHEENA SOLOMON (SECRETARY)
  • ANDREW FISH (VICE PRESIDENT)
  • CALVIN CORRIDORS JR (MEMBER)

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 goal of the syracuse economic development corporation (sedco) is to provide technical and financial assistance to businesses and other local economic development entities that operate in the city of syracuse, New York as a means of supporting business expansion and job creation.

What it reported doing in 2025

Provided financing for public/private development projects in the city of syracuse, New York. Program service revenue of $206,067 represents interest income from the financing provided of $173,896 and $32,171 of interest earned from banks.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 26th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -358.4%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 16.4; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94% of spending went to programs
  • Governance: 8 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $924K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.