2026-06-02T12:16:48-05:00 2025-12-31 161092347 MENGEL METZGER BARR & CO LLP 370 WOODCLIFF DRIVE SUITE 2A FAIRPORT NY 14450 990 2025-01-01 161191210 HORNELL INDUSTRIAL DEVELOPMENT CORPORATION HORN 6073240310 40 MAIN STREET HORNELL NY 14843 MICHAEL L NISBET CEO 6073240310 2026-05-28 1 THOMAS ZUBER P02154016 5854231860 2026-05-28 2025 2025-03-06 01:10:19Z MICHAEL L NISBET 40 MAIN STREET HORNELL NY 14843 413 0 X HTTP://WWW.HORNELLNY.COM X 1962 NY THE HORNELL INDUSTRIAL DEVELOPMENT CORPORATION WAS FORMED FOR THE PURPOSE OF ENCOURAGING FINANCIALLY SOUND COMPANIES TO ESTABLISH THEMSELVES AND PROSPER IN THE HORNELL, NEW YORK AREA. 5 5 0 5 0 0 0 0 0 0 229 413 0 0 229 413 0 0 0 0 0 0 0 0 0 11483 32872 11483 32872 -11254 -32459 335171 302712 0 0 335171 302712 X THE HORNELL INDUSTRIAL DEVELOPMENT CORPORATION WAS FORMED FOR THE PURPOSE OF ENCOURAGING FINANCIALLY SOUND COMPANIES TO ESTABLISH THEMSELVES AND PROSPER IN THE HORNELL, NEW YORK AREA. 0 1 27065 PAYMENTS FOR PROMOTIONAL ACTIVITIES TO HIGHLIGHT ECONOMIC OPPORTUNITIES FOR COMPANIES IN THE HORNELL, NEW YORK AREA. PROVIDED 23 HORNELL SMALL BUSINESSES WITH LOANS UP TO $10,000 FOR SHORT-TERM, WORKING CAPITAL NEEDS TO OFFSET LOSSES DUE TO THE COVID-19 CRISIS. LOAN TERMS SHALL BE 180 DAYS NO INTEREST THAN 1% ANNUALIZED INTEREST WITH REPAYMENT OVER THIRTY THREE MONTH. 27065 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 NY X MICHAEL L NISBET CEO 6073240310 40 MAIN STREET HORNELL NY 14843 X DAVID PARMLEY BOARD CHAIRMAN 1.00 1.00 X X 0 0 0 ED FLAITZ CFO, TREASURER 1.00 1.00 X X 0 0 0 JOHN CARBONE SECRETARY 1.00 1.00 X X 0 0 0 JOHN BUCKLEY VICE CHAIRMAN 1.00 1.00 X X 0 0 0 RICHARD ANDOLINA JR BOARD MEMBER 1.00 1.00 X 0 0 0 MICHAEL L NISBET CEO 2.00 2.00 X 0 0 0 0 0 0 0 0 0 0 0 413 413 413 0 0 413 X 5250 5250 25990 25990 557 557 CREDIT LOSSES PROVISION 1075 1075 32872 27065 5807 0 299244 274427 35927 28285 335171 302712 0 0 X 335171 302712 335171 302712 335171 302712 -32459 0 X X 0 1 X 1 0 X 577 1716 524 1028 1185 5030 577 1716 524 1028 1185 5030 5030 2157 1543 73 229 413 4415 9445 0.53260 0.97870 X 0 X 1185 1185 1185 0 0 0 34057 1185 1185 32872 0 32872 PART X, LINE 2: THE CORPORATION WAS ORGANIZED UNDER ARTICLE XIX OF THE NEW YORK STATE MEMBERSHIP CORPORATION'S LAW EXCLUSIVELY FOR PUBLIC, CHARITABLE, AND EDUCATIONAL PURPOSES, AS ARE WITHIN THE MEANING OF INTERNAL REVENUE CODE SECTION 501(C)(3). AS SUCH THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE TAXES. ALL APPLICABLE TAX FORMS FOR THE CORPORATION HAVE BEEN FILED AND ACCEPTED BY THE INTERNAL REVENUE SERVICE THROUGH THE YEAR ENDED DECEMBER 31, 2025. THE TAX YEARS ENDING DECEMBER 31, 2025, 2024, 2023, AND 2022 ARE STILL OPEN TO AUDIT FOR FEDERAL AND STATE PURPOSES. FORM 990, PART III, LINE 3 NO INTEREST ON THE LOANS WAS SPECIFIC TO 2025 TO ENTICE PAYMENTS ON THE REMAINING LOANS. INTEREST WILL BE CHARGED ON DELINQUENT LOANS IN 2026. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PRESENT TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE APPROPRIATE TAX AUTHORITIES. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE DURING NORMAL BUSINESS HOURS. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 25,990. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,990. FORM 990, PART XII, LINE 2C: THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM PRIOR YEARS. CITY OF HORNELL INDUSTRIAL DEVELOPMENT AGENCY 40 MAIN STREET HORNELL NY 14843 INDUSTRIAL DEVELOPMENT IN HORNELL AREA NY GOVERNMENTAL N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 PART II, LINE 1 DAVID PARMLEY, ED FLAITZ, JOHN CARBONE, JOHN BUCKLEY, AND RICHARD ANDOLINA JR ARE ALSO BOARD MEMBERS OF THE CITY OF HORNELL'S IDA. THEY ARE NOT COMPENSATED BY EITHER ORGANIZATION AND THEIR INVOLVEMENT WITH EITHER BOARD IS ON A VOLUNTEER BASIS. MICHAEL NISBET IS ALSO THE CHIEF EXECUTIVE OFFICER OF THE CITY OF HORNELL'S IDA AND WAS NOT COMPENSATED FOR BEING THE CHIEF EXECUTIVE OFFICER OF THE CITY OF HORNELL'S IDC. HORNELL IDC DID NOT PAY EITHER MR. NISBET OR THE CITY OF HORNELL'S IDA FOR MR. NISBET TO BE THE CHIEF EXECUTIVE OFFICER OF THE HORNELL IDC. HIS INVOLVEMENT IN THE HORNELL IDC IS ON A VOLUNTEER BASIS.