Nonprofit · EIN 16-1461027
CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION
Tax-exempt · CORTLAND, NY 13045
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $646,229 | $511,445 | $134,784 | $1,342,764 | $7,081 | $1,335,683 |
| December 31, 2023 | 990 | $777,252 | $734,038 | $43,214 | $1,240,629 | $39,730 | $1,200,899 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $588,833
- Investment income
- $30,491
- Net rental income
- $22,800
- Other revenue
- $26,905
Expenses
- Grants and similar amounts paid
- $17,968
- Compensation of officers, directors and key employees
- $160,903
- Other salaries and wages
- $146,744
- Salaries, compensation and benefits (total)
- $354,943
- Professional fundraising fees
- $0
- Legal fees
- $1,020
- Accounting fees
- $7,900
- Occupancy
- $56,309
- Travel
- $4,231
- Depreciation
- $1,298
Balance sheet and other
- Total assets, start of year
- $1,240,629
- Total assets, end of year
- $1,342,764
- Total liabilities, end of year
- $7,081
- Net assets, end of year
- $1,335,683
- Land, buildings and equipment
- $2,578
- Net assets without donor restrictions
- $501,835
- Net assets with donor restrictions
- $833,848
- Gross receipts
- $646,229
- Employees
- 4
- Volunteers
- 13
- Year formed
- 1992
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRENDAN O'BRYAN | EXECUTIVE DIRECTOR Officer | 40 | $120,065 | $40,838 |
| MICHAEL MCMAHON | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| STEPHEN COMPAGNI | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| CLINT BROOKS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHANNA AMES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL DRIES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON HAGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN BURKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GERALD CONTENTO JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DON RICHARDS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT EDWARDS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY KREMENEK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEBORAH HAYDEN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| RENEE NEIDERMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GARRY VANGORDER | EXECUTIVE DIRECTOR (PART YEAR) Officer | 40 | $94,532 | $21,034 |
| BRENDAN O'BRYAN | EXECUTIVE DIRECTOR Officer | 40 | $33,654 | $0 |
| MICHAEL MCMAHON | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| JOHN O REAGAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| STEPHEN COMPAGNI | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| CLINT BROOKS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHANNA AMES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAUL DRIES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JASON HAGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN BURKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GERALD CONTENTO JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LORI LAW | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DON RICHARDS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT EDWARDS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY KREMENEK | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 40 MAIN ST STE A, CORTLAND, NY 13045-3723
- Principal officer (990 for 2024)
- MIKE MCMAHON, 40 MAIN STREET A, CORTLAND, NY 13045
- Signed the 990
- GARRY VANGORDER, EXECUTIVE DIRECTOR
- Phone
- (607) 756-5005
- Website
- WWW.CORTLANDBUSINESS.COM
- Return prepared by
- INSERO ADVISORS LLC
Mission
THE CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION SEEKS TO IMPROVE THE QUALITY OF LIFE IN CORTLAND COUNTY BY RETAINING AND EXPANDING EXISTING JOB OPPORTUNITIES, ATTRACTING NEW JOBS, AND STIMULATING THE INVESTMENT OF CAPITAL IN THE COUNTY.
Program accomplishments
- TO PROVIDE FUNDING TO ENCOURAGE NEW BUSINESS AND EMPLOYMENT FOR CORTLAND COUNTY.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 16-1461027
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1995
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,342,764
- Income (IRS master file)
- $646,229
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $646,229 | $511,445 | $1,342,764 | XML |
| 990 | December 2023 | $777,252 | $734,038 | $1,240,629 | XML |
| 990 | December 2022 | $959,128 | $1,022,300 | $1,368,610 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 16-1461027).
Questions about CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION
- What is the EIN of CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION is 16-1461027.
- Is CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1995.
- Are donations to CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names MIKE MCMAHON.
- Who are the officers and directors of CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $120,065 (BRENDAN O'BRYAN, EXECUTIVE DIRECTOR).
- How much revenue does CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $646,229, expenses of $511,445 and total assets of $1,342,764 at year end.
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