EIN 26-4032355

Nybdc Local Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
24
City
Year formed
2009
Most recent tax filings
2022-09-01
Description
To assist small businesses in the acquisition of real property, and construction, renovation or other improvements thereon, and thereby promote and encourage the business prosperity and economic welfare of the state of new york; to encourage and assist in the location of new business and industry in the state of new york; and to provide financing to both new and existing businesses and industry; and to create and retain jobs within the state of new york.
Total revenues
$11,401,541
2022
Total expenses
$5,645,203
2022
Total assets
$39,799,179
2022
Num. employees
24
2022

Program areas at Nybdc Local Development Corporation

The Corporation makes loans to small businesses on terms that would not be reasonably available from commercial lenders doing business in nys in order to: relieve and reduce unemployment, promote and provide for additional and maximum employment, aid communities in nys by encouraging the devlopment and/or retention of industry. The Corporation continues to evolve and offer a wide range of financial and business advisory services to small businesses in new york state and is now operating under the name excelsior growth fund.

Grants made by Nybdc Local Development Corporation

GranteeGrant descriptionAmount
AscendusTo Address Income Inequality in New York City By Providing Capital To Businesses and Entrepreneurs in Highly Distressed Neighborhoods.$796,450

Who funds Nybdc Local Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
World Trade Center Small Business Recovery FundProvide Loans To Small Businesses$2,669,928
Community Foundation for Greater Buffalo (CFGB)Open4 Initiative$600,000
PeopleFundSupport Lending and Education Services To Underserved Small Bsuinesses$50,000

Personnel at Nybdc Local Development Corporation

NameTitleCompensation
Patrick J MacKrellChief Executive Officer / President$0
Owen BurnsExecutive Vice President and Chief Financial Officer / Executive Vice / Treasurer$0
Kale GastonDirector$1,500
Rachel van ToshSenior Vice President and Chief Operating Officer$44,788
James J ByrnesDirector$2,000
...and 26 more key personnel

Financials for Nybdc Local Development Corporation

RevenuesFYE 09/2022
Total grants, contributions, etc.$7,747,570
Program services$3,653,971
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$11,401,541

Form 990s for Nybdc Local Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2021-092022-02-04990View PDF
2020-092021-04-06990View PDF
2019-092020-10-09990View PDF
2018-092019-04-15990View PDF
2017-092018-03-14990View PDF
...and 7 more Form 990s
Data update history
June 8, 2023
Updated personnel
Identified 6 new personnel
May 26, 2023
Received grants
Identified 3 new grant, including a grant for $2,669,928 from World Trade Center Small Business Recovery Fund
September 24, 2021
Received grants
Identified 2 new grant, including a grant for $300,000 from The Bank of America Charitable Foundation
August 21, 2021
Posted financials
Added Form 990 for fiscal year 2019
June 22, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelTax deductible donations
General information
Address
50 Beaver St
Albany, NY 12207
Metro area
Albany-Schenectady-Troy, NY
County
Albany County, NY
Phone
(518) 463-2268
IRS details
EIN
26-4032355
Fiscal year end
September
Taxreturn type
Form 990
Year formed
2009
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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