2025-08-14T13:45:51-05:00 2024-12-31 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2024-01-01 510188852 MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION MONR 5857532000 50 WEST MAIN STREET SUITE 1150 ROCHESTER NY 14614 HANIF ABDUL-WAHID PRESIDENT 5857532000 2025-07-21 1 1 THOMAS ZUBER P02154016 5854231860 2025-07-21 2024 2025-03-06 01:10:19Z HANIF ABDUL-WAHID 50 WEST MAIN STREET SUITE 1150 ROCHESTER NY 14614 3119778 0 X WWW.MONROECOUNTYBUSINESS.ORG/MCIDC 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. 13 13 6 13 0 0 837728 2076209 1192679 734276 53520 309293 0 0 2083927 3119778 412500 517379 0 0 371203 435396 0 0 0 341055 561995 1124758 1514770 959169 1605008 7624113 9332479 161183 264541 7462930 9067938 X THE MONROE COUNTY INDUSTRIAL DEVELOPMENT CORPORATION (MCIDC) FOSTERS ECONOMIC GROWTH AND OPPORTUNITY BY PROVIDING ACCESS TO CAPITAL, INCLUDING MICROLENDING, TO SUPPORT SMALL BUSINESSES, ENTREPRENEURS, ESTABLISHED EMPLOYERS, AND NOT-FOR-PROFIT ORGANIZATIONS. THROUGH STRATEGIC INVESTMENTS IN WORKFORCE DEVELOPMENT AND BUSINESS EXPANSION, MCIDC PROMOTES JOB CREATION, RETENTION, AND THE LONG-TERM PROSPERITY OF MONROE COUNTY AND THE GREATER ROCHESTER REGION. 0 0 PROVIDED FINANCIAL ASSISTANCE TO JOB CREATING BUSINESSES THAT DEMONSTRATED A NEED FOR FINANCING. DURING 2024, 54 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 10 0 6 1 0 0 0 0 0 0 0 0 X 13 13 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 JEFFREY BARKER TREASURER 5.00 X X 0 0 0 HANIF ABDUL-WAHID PRESIDENT 5.00 X X 0 0 0 PHILIP SMITH DIRECTOR 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 TIMOTHY BROWN DIRECTOR 1.00 X 0 0 0 RYAN FELTNER DIRECTOR 1.00 X 0 0 0 BRETT OWEN DIRECTOR 1.00 X 0 0 0 ERIC ROGERS SECRETARY 1.00 X X 0 0 0 BRITTANY BACHMAN DIRECTOR- JOINED DURING THE YEAR 1.00 X 0 0 0 JOE SAYRE DIRECTOR- JOINED DURING THE YEAR 1.00 X 0 0 0 CHRISTOPHER RUSH DIRECTOR- JOINED DURING THE YEAR 1.00 X 0 0 0 CARLA VASQUEZ DIRECTOR- JOINED DURING THE YEAR 1.00 X 0 0 0 ANA LISS EXECUTIVE DIRECTOR 20.00 X 0 0 0 TONY SCIARABBA CDC MANAGER 40.00 X 96724 0 0 96724 0 0 0 0 0 0 0 2076209 2076209 BOND FEE INCOME 900099 484207 484207 FEES 900099 250069 250069 734276 309293 99171 210122 3119778 833447 0 210122 517379 96724 280118 5873 22702 29979 90000 2264 89080 17333 25787 5442 6160 13863 BAD DEBT EXPENSE 277660 DUES AND SUBSCRIPTIONS 20171 STAFF DEVELOPMENT 11827 OTHER EXPENSES 2133 275 1514770 50 50 5102061 5263073 144670 492598 2371702 3568200 5630 8558 7624113 9332479 160181 264541 1002 161183 264541 X 7293627 8898635 169303 169303 7462930 9067938 7624113 9332479 1605008 0 X X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 3119778 0 3119778 0 3119778 1514770 0 1514770 0 1514770 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 CATPRINTCOM LLC 100 PHOTIKON DR FAIRPORT NY 14450 205604941 9193 0 GREAT RATE CRANE DENTAL LABORATORY INC 3515 BUFFALO ROAD ROCHESTER NY 14624 161547647 5423 0 GREAT RATE / GREAT REBATE ELITE TURNING & MACHINING CORP 42 MARWAY CIRCLE ROCHESTER NY 14624 455615582 15015 0 GREAT RATE STAACH INC 207 HUMBOLDT ST ROCHESTER NY 14610 262351014 5002 0 GREAT RATE ULTRA PRODUCTS 159 LAGRANGE AVE ROCHESTER NY 14613 871942814 8940 0 GREAT RATE VILLAGER CONSTRUCTION INC 425 OLD MACEDON CENTER ROAD FAIRPORT NY 14450 161146699 13952 0 GREAT RATE / GREAT REBATE XLI MANUFACTURING LLC 55 VANGUARD PARKWAY ROCHESTER NY 14606 832389660 6694 0 GREAT RATE CORNING TROPEL 60 OCONNOR RD FAIRPORT NY 14450 160393470 15350 0 MONROE ON THE JOB FRAMING TECHNOLOGY LEASING LLC 137 SKYE ST ROCHESTER NY 14611 813715846 8347 0 GREAT RATE JP WHITE TRASH LLC 2015 MAIDEN LN ROCHESTER NY 14628 874308197 10784 0 GREAT RATE MCQUILLEN MANUFACTURING LLC 11 CARRIAGE ST HONEOYE FALLS NY 14472 872003655 11113 0 GREAT RATE UNEARTHLY MATERIALS INC 322 BLOSSOM RD ROCHESTER NY 14610 853458233 15734 0 GREAT RATE / GREAT REBATE 0 14 MONROE COUNTY DEPARTMENT OF PLANNING AND DEVELOPMENT COMMON MANAGEMENT 90000 ADMINISTRATIVE SERVICES 0 MONROE COUNTY CONTRACTUAL SERVICE 2076209 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 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 2024. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS 13 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.