2024-10-02T16:57:34-05:00 2023-12-31 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2023-01-01 510188852 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION MONR 5857532000 50 WEST MAIN STREET SUITE 1150 ROCHESTER NY 14614 HANIF ABDUL-WAHID PRESIDENT 5857532000 2024-07-17 1 1 THOMAS ZUBER P02154016 5854231860 2024-07-17 2023 2024-10-15 13:58:12Z HANIF ABDUL-WAHID 50 WEST MAIN STREET SUITE 1150 ROCHESTER NY 14614 2201401 0 X WWW.MCIDCWEB.COM X 1962 NY THE MISSION OF THE MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION IS TO PROVIDE RESOURCES TO QUALIFIED FOR-PROFIT BUSINESSES AND NOT-FOR-PROFIT ORGANIZATIONS THAT RESULT IN THE RETENTION AND CREATION OF JOBS AND EMPLOYMENT OPPORTUNITIES IN MONROE COUNTY. 9 9 5 14 0 0 0 837728 407449 1192679 -46080 53520 0 0 361369 2083927 481427 412500 0 0 223220 371203 0 0 0 253000 341055 957647 1124758 -596278 959169 6771194 7624113 267433 161183 6503761 7462930 X THE MISSION OF THE MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION IS TO PROVIDE RESOURCES TO QUALIFIED FOR-PROFIT BUSINESSES AND NOT-FOR-PROFIT ORGANIZATIONS THAT RESULT IN THE RETENTION AND CREATION OF JOBS AND EMPLOYMENT OPPORTUNITIES IN MONROE COUNTY. 1 0 PROVIDED FINANCIAL ASSISTANCE TO JOB CREATING BUSINESSES THAT DEMONSTRATED A NEED FOR FINANCING. DURING 2023, 68 BUSINESSES WERE ASSISTED. THIS MICROLOAN PROGRAM PROVIDES LOANS FROM $10,000 TO $50,000 TO HELP SMALL BUSINESSES WITH MOST BUSINESS RELATED COSTS. THE MICRO ADVANTAGE LOAN PROGRAM PROVIDES FUNDS TO BUSINESSES THAT MAY NOT OTHERWISE BE A CANDIDATE FOR TRADITIONAL BANK LOANS. THIS LOAN PROGRAM GIVES YOU THE OPPORTUNITY TO SECURE FUNDING WHILE LEARNING THE LOAN PROCESS AND BUILDING YOU CREDIT IN THE PROCESS. 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 13 0 5 1 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X ROBIN FINNERTY 5857532037 50 WEST MAIN STREET SUITE 1150 ROCHESTER NY 14614 PETER HIN DIRECTOR - RESIGNED DURING YEAR 1.00 X 0 0 0 JEFFREY BARKER TREASURER 5.00 X X 0 0 0 HANIF ABDUL-WAHID PRESIDENT 5.00 X X 0 0 0 DAVID BROOKS DIRECTOR - RESIGNED DURING YEAR 1.00 X 0 0 0 PHILIP SMITH DIRECTOR 1.00 X 0 0 0 JOSEPH RIZZO DIRECTOR - RESIGNED DURING YEAR 1.00 X 0 0 0 CHRISTOPHER JOHNSTON VICE PRESIDENT 5.00 X X 0 0 0 ZACK PHILLIPS DIRECTOR 1.00 X 0 0 0 LYNN RYAN SECRETARY - RESIGNED DURING YEAR 5.00 X X 0 0 0 TIMOTHY BROWN DIRECTOR 1.00 X 0 0 0 ELLA KRZANOWICZ DIRECTOR - RESIGNED DURING YEAR 1.00 X 0 0 0 RYAN FELTNER DIRECTOR - JOINED DURING YEAR 1.00 X 0 0 0 BRETT OWEN DIRECTOR - JOINED DURING YEAR 1.00 X 0 0 0 ERIC ROGERS DIRECTOR - JOINED DURING YEAR 1.00 X 0 0 0 ANA LISS EXECUTIVE DIRECTOR 20.00 X 0 0 0 TONY SCIARABBA CDC MANAGER 40.00 X 90902 0 0 90902 0 0 0 0 0 0 0 837728 837728 BOND FEE INCOME 900099 924150 924150 FEES 900099 263881 263881 MISCELLANEOUS 900099 4648 4648 1192679 170994 57256 113738 117474 -117474 -117474 -117474 2083927 1132461 0 113738 412500 90902 230965 5296 17466 26574 90000 760 71965 19403 2923 3563 14319 BAD DEBT EXPENSE 107106 PTAC FUNDING 16010 DUES AND SUBSCRIPTIONS 9885 STAFF DEVELOPMENT 3278 1843 1124758 50 50 4704422 5102061 144670 1928068 2371702 21180 5630 117474 6771194 7624113 262785 160181 4648 1002 267433 161183 X 6334458 7293627 169303 169303 6503761 7462930 6771194 7624113 959169 0 X X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2083927 0 2083927 0 2083927 1124758 0 1124758 0 1124758 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. UNDER ACCOUNTING STANDARDS CODIFICATION (ASC) SECTION 740, THE TAX STATUS OF TAX-EXEMPT ENTITIES IS AN UNCERTAIN TAX POSITION SINCE EVENTS COULD POTENTIALLY OCCUR THAT JEOPARDIZE TAX-EXEMPT STATUS. MANAGEMENT IS NOT AWARE OF ANY EVENTS THAT COULD JEOPARDIZE THE CORPORATION'S TAX-EXEMPT STATUS. THEREFORE, NO LIABILITY OR PROVISION FOR INCOME TAX HAS BEEN REFLECTED IN THE FINANCIAL STATEMENTS. THE CORPORATION HAS REQUESTED A DETERMINATION LETTER FROM THE IRS. 1 AURORA MACHINE & MFG INC 200 TECH PARK DRIVE ROCHESTER NY 14623 463415867 10343 0 GREAT RATE / GREAT REBATE BLACK BUTTON DISTILLING 85 RAILROAD ST ROCHESTER NY 14609 455477168 6544 0 GREAT RATE / MANUFACTURING REWARD BOZZA PASTA LLC 7 UPTON STREET HILTON NY 14468 433902526 9202 0 GREAT RATE CATPRINTCOM LLC 100 PHOTIKON DR FAIRPORT NY 14450 205604941 11165 0 GREAT RATE CRANE DENTAL LABORATORY INC 3515 BUFFALO ROAD ROCHESTER NY 14624 161547647 11344 0 GREAT RATE / GREAT REBATE ELITE TURNING & MACHINING CORP 42 MARWAY CIRCLE ROCHESTER NY 14624 455615582 6266 0 GREAT RATE FLOWER CITY ROLL OFF 2 CAIRN ST ROCHESTER NY 14611 825402954 9723 0 GREAT RATE JAM INDUSTRIES INC 9 MARWAY CIRCLE ROCHESTER NY 14624 161545558 12282 0 GREAT RATE PLUG POWER 1025 JOHN ST WEST HENRIETTA NY 14586 223672377 20000 0 GREAT REBATE PRECISION LASER TECHNOLOGY LLC 1001 LEXINGTON AVENUE 4 ROCHESTER NY 14606 200735284 5061 0 GREAT RATE STAACH INC 207 HUMBOLDT ST ROCHESTER NY 14610 262351014 6178 0 GREAT RATE STUDCO BUILDING SYSTEMS 1700 BOULTER INDUSTRIAL PARKWAY WEBSTER NY 14580 202717111 6108 0 GREAT RATE / MONROE ON THE JOB TURNER UNDERGROUND INSTALLATION 18791 SCOTTSVILLE ROAD ROCHESTER NY 14623 454404936 10245 0 GREAT RATE ULTRA PRODUCTS 159 LAGRANGE AVE ROCHESTER NY 14613 871942814 11070 0 GREAT RATE VILLAGER CONSTRUCTION INC 425 OLD MACEDON CENTER ROAD FAIRPORT NY 14450 161146699 28245 0 GREAT RATE / GREAT REBATE XLI MANUFACTURING LLC 55 VANGUARD PARKWAY ROCHESTER NY 14606 832389660 14885 0 GREAT RATE 0 16 MONROE COUNTY DEPARTMENT OF PLANNING AND DEVELOPMENT COMMON MANAGEMENT 90000 ADMINISTRATIVE SERVICES 0 MONROE COUNTY CONTRACTUAL SERVICE 837728 LOAN ADMINISTRATION 0 SCHEDULE L, PART IV, LINE 2 ON MARCH 1, 2023 THE CORPORATION SIGNED AN AGREEMENT WITH MONROE COUNTY TO IMPLEMENT AND ADMINISTER $5,800,000 MICRO LOAN PROGRAM THROUGH DECEMBER 31, 2026. OF THE $5,800,000 1,000,000 IS APPROVED FOR ADMINISTRATIVE EXPENSES AND 4,800,000 IS TO BE LOANED OUT TO SMALL BUSINESSES THAT MEET THE CRITERIA OF THE PROGRAM. OF THOSE FUNDS TO BE LOANED OUT, A MINIMUM OF $800,000 IS TO BE LOANED TO MWBE CERTIFIED BUSINESSES. SCHEDULE L, PART IV, LINE 1 THE CORPORATION HAD AN INVESTMENT IN LIMITED PARTNERSHIP INTEREST OF TRILLIUM LAKEFRONT PARTNERS, III, LP. THIS INVESTMENT IS VALUED AT COST IN THE STATEMENT OF NET POSITION. AS A RESULT OF THE DISSOLUTION OF THE FUND, THE CORPORATION RECOGNIZED A LOSS ON INVESTMENT OF $117,474 FOR THE YEAR ENDED DECEMBER 31, 2023. FORM 990, PART III, LINE 2 THIS MICROLOAN PROGRAM PROVIDES LOANS FROM $10,000 TO $50,000 TO HELP SMALL BUSINESSES WITH MOST BUSINESS RELATED COSTS. THE MICRO ADVANTAGE LOAN PROGRAM PROVIDES FUNDS TO BUSINESSES THAT MAY NOT OTHERWISE BE A CANDIDATE FOR TRADITIONAL BANK LOANS. THIS LOAN PROGRAM GIVES YOU THE OPPORTUNITY TO SECURE FUNDING WHILE LEARNING THE LOAN PROCESS AND BUILDING YOU CREDIT IN THE PROCESS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS A CONTRACT WITH MONROE COUNTY DEPARTMENT OF PLANNING AND DEVELOPMENT TO PROVIDE ADMINISTRATIVE SERVICES. THE ORGANIZATION PAID MONROE COUNTY $90,000 DURING 2023. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS 9 BOARD MEMBERS WHO ARE ALL APPOINTED BY MONROE COUNTY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS ARE APPROVED BY THE GOVERNING BOARD. MONROE COUNTY MAY REMOVE ANY DIRECTOR THEY APPOINT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ACCOUNTING FIRM THAT PERFORMED THE ANNUAL AUDIT OF THE FINANCIAL STATEMENTS BASED ON INFORMATION PROVIDED BY MCIDC. THE FORM 990 WAS REVIEWED ELECTRONICALLY BY BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL POLICIES ARE ADOPTED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY DIRECTOR FOR THEIR SERVICES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. PART XII, LINE 2C EXPLANATION THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM PRIOR YEARS.