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A NON-PROFIT FORMED TO ENGAGE IN ECONOMIC DEVELOPMENT IN A DISTRESSED COMMUNITY.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$6.7M
Program Spending
97%
of total expenses go to program services
Total Contributions
$2.6M
Total Expenses
▼$5.3M
Total Assets
$15.6M
Total Liabilities
▼$25.2M
Net Assets
-$9.6M
Officer Compensation
→$170K
Other Salaries
N/A
Investment Income
$37K
Fundraising
▼N/A
Source: USAspending.gov
No federal awards found for this organization.
USAspending.gov tracks federal grants, cooperative agreements, and other financial assistance. Not all nonprofits receive federal funding.
Source: Federal Audit Clearinghouse (fac.gov)
No federal single audit records found for this organization.
Single audits are required for entities expending $750,000+ in federal awards annually.
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $6.7M | $2.6M | $5.3M | $15.6M | -$9.6M |
| 2023IRS e-File | $3.9M | $0 | $4.8M | $12.8M | -$11M |
| 2022 | $3.8M | $0 | $4.8M | $13.1M | -$10.1M |
| 2021 | $3.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Clio Nicolakis | Exec. Dir. & Asst. Secreta | 30 | $98K | $0 | $0 | $98K |
| David Silverstone | Board Chairman/president | 22 | $72K | $0 | $0 | $72K |
| Niclas A Ferland | Secretary | 1 | $0 | $0 | $0 | $0 |
| Jerome E Tureck | Vice President; Director | 0.5 | $0 | $0 | $0 | $0 |
| Michael A Schaffer | Treasurer; Director | 0.5 | $0 | $0 | $0 | $0 |
Clio Nicolakis
Exec. Dir. & Asst. Secreta
$98K
Hrs/Wk
30
Compensation
$98K
Related Orgs
$0
Other
$0
David Silverstone
Board Chairman/president
$72K
Hrs/Wk
22
Compensation
$72K
Related Orgs
$0
Other
$0
Niclas A Ferland
Secretary
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jerome E Tureck
Vice President; Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Michael A Schaffer
Treasurer; Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Cynthia Petruzzello | Director | 0.5 | $0 | $0 | $0 | $0 |
| Darrell Brooks | Director | 0.5 | $0 | $0 | $0 | $0 |
| David Share | Director | 0.5 | $0 | $0 | $0 | $0 |
| Michael Piscitelli | Director | 1 | $0 | $0 | $0 | $0 |
| Peter A Penczer | Director | 0.5 | $0 | $0 | $0 | $0 |
| Susan Cascio | Director (as Of 12/9/24) |
Cynthia Petruzzello
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Darrell Brooks
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
David Share
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
| $28.8K |
| $4.4M |
| $13.3M |
| -$9.1M |
| 2020 | $3.5M | $162.5K | $4.3M | $14M | -$8.2M |
| 2019 | $3.3M | $4,610 | $4.4M | $14.4M | -$7.4M |
| 2018 | $3.6M | $485K | $4.3M | $14.9M | -$6.3M |
| 2017 | $2.7M | $0 | $4M | $15.1M | -$5.2M |
| 2016 | $2.7M | $0 | $4M | $15.5M | -$4M |
| 2015 | $2.7M | $196.3K | $4.1M | $16.2M | -$2.6M |
| 2014 | $5.5M | $19K | $4.3M | $16.9M | -$1.2M |
| 2013 | $3M | $484.7K | $4.2M | $15.6M | -$2.4M |
| 2012 | $3.9M | $0 | $4M | $15.5M | -$1.2M |
| 2011 | $2.4M | $0 | $4.3M | $15.4M | -$1.1M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data | PDF not yet published by IRS |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 0.5 |
| $0 |
| $0 |
| $0 |
| $0 |
Michael Piscitelli
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Peter A Penczer
Director
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0
Susan Cascio
Director (as Of 12/9/24)
$0
Hrs/Wk
0.5
Compensation
$0
Related Orgs
$0
Other
$0