Warren County Local Development Corp
Nonprofit profile at a glance
- EIN
- 141681502
- IRS 990 coverage
- 2011–2025
- Forms available
- Form 990 2025
- Location
- Glens Falls, NY, USA
- Phone
- 5187616007
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $100,779
- Expenses
- $135,679
- Assets
- $1,554,574
- Liabilities
- $234
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- JIM SIPLON (CHIEF EXECUTIVE OFFICER)
People named in this filing
- NATHAN ETU (VICE CHAIRMAN)
- MIKE WILD (CHAIRMAN)
- PETER MCDEVITT (TREASURER)
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 ldc is to provide new jobs, keep existing jobs and broaden the local tax base through supplemental financing (e.g. Gap financing or lender of last resort), while providing the funding necessary to leverage private sector investments, and to provide assistance to make available funding mechanisms for improvements and upgrades to those low to moderate income households in warren county.
What it reported doing in 2025
See schedule o: revolving loan fund: inquiries regarding funding sources for small businesses in warren county were received on a more regular basis throughout 2025. Wcldc had a total of 19 funding or other small business support inquiries:- 2 loan application- 9 seeking start-up capital- 3 seeking expansion or equipment upgrades- 2 seeking to purchase work vehicles- 1 seeking start-up grant- 1 seeking funding for a pilot project- 1 seeking relief from flood damage- 2 sought loan modifications for existing wcldc loansthe following is a geographic breakdown of where the businesses were located and the number of inquiries for each location: 5 glens falls, 5 queensbury, 3 north creek, 3 lake george, 1 lake luzerne, 2 county-wide- 2 loans were paid off during 2025- 3 loans were granted a loan modification- 2 new loans were issuedstartup adk: two 8-week sessions of the startup adk (aka microenterprise assistance program) were offered in collaboration with suny adirondack and Washington county ldc. The spring session did not run due to low enrollment; the fall class had 9 participants.expanded support of the entrepreneurial ecosystem was undertaken in 2025 including the expanded startup adk graduation and entrepreneurial event held in january with over 100 attendees, greater engagement with the entrepreneur community, expansion of entrepreneurial support and more extensive marketing.grants: no grants were approved during 2025residential pre-development loan fund: the warren county local development corporation (wcldc) established a loan fund of $50,000 for the purpose of providing project financing assistance to qualified builders and projects for capital costs and related soft costs associated with new construction of single-family homes or other owner-occupied units in warren county. In 2025, wcldc had a total of 7 rprlf inquiries:- 1 loan application; loan issued- 4 seeking funding for ineligible projects- 1 seeking guidance for other residential incentives- 1 preparing to apply at a later date
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 92
- Accountability: 94
- Sustainability: 44
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- 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: Limited
- Major donor itemization: Yes; rating input score 100
- 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: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -34.6%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 11.46; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings
Growth
- Program expense growth: 8.1% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 2.1% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: -0.3% per year; rating input score 0; 21st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $136K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 18 of 18 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Filing history: 11 filing years from 2011 to 2025
- Contacts: How to reach this organization
- 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 6/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.