named programs · 1 · from sources
What they call their work
Early Stage Equity Investment Program
Provides early-stage equity capital to technology companies in renewable energy and environmental technologies that commit to locating in St. Lawrence County, NY, with a focus on job creation and economic growth.
activities · 5 groups
What they do
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Municipal and Community General Support 1 activity
- Administering $10 million in long-term loan funding from the New York Power AuthorityOversees the disbursement of up to $10 million in long-term loan funding provided by the New York Power Authority to support equity investments in qualifying enterprises in St. Lawrence County, NY.
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Climate Change Research and Advocacy Funding 1 activity
- Funding commercialization of renewable energy and environmental technology productsInvests in the commercialization of new products and services in renewable energy and environmental technologies, with a focus on enterprises operating in St. Lawrence County, NY.
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Regional Economic Development Initiatives 1 activity
- Promoting job development and industrial growth in St. Lawrence County, NYEngages in economic development efforts by promoting job creation and attracting new industry to St. Lawrence County, NY, primarily through targeted investment and funding programs.
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Women Entrepreneurs Grant Programs 1 activity
- Providing early stage equity funding to growth-oriented companies in St. Lawrence County, NYProvides early stage equity capital to companies with significant growth potential that locate or principally operate in St. Lawrence County, New York. Investment limit is up to $1 million per enterprise, and funded companies are required to provide quarterly progress reports.
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Uncategorized 1 activity
- Requiring 2:1 funding match for invested capitalRequires that for every dollar invested, funded companies secure a 2:1 match in additional funding, ensuring leveraged investment and financial accountability.
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financials · form 990 · fy2024
revenue
Total revenue$41K
Contributions & grants$00%
Program service revenue$00%
Investment income$41K100%
Other revenue$0
expenses
Total expenses$38K
Program expenses15%
Admin / overhead85%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$6.89M
Cash$1.24M
Investments$4.78M
Liabilities$5K
Net assets$6.88M
Liquid reserves1909.8 mo
5 years on record · 2020–2024 · YoY revenue -4.7%
leadership · form 990 part vii · fy2024
Who runs it
board members · 8
- ALEC JOHNSON — TREASURER
- ALEXANDRA JACOBS - WILKE — DIRECTOR
- DAPHNE PICKERT — SECRETARY
- DR ZVI SZAFRAN — PRESIDENT
- KATHRYN MORRIS — DIRECTOR
- MATHEW DRAPER — DIRECTOR
- RONALD MCDOUGALL — VICE PRESIDENT
- RUSS STRAIT — DIRECTOR
relationships · 5
Who they work with
- CITEC Business Solutions Partner — Organization coordinating SPEC operations.
- Clarkson University Partner — Provided photo and collaboration support for portfolio company RemWell.
- New York Power Authority Funder — Provided a long-term $10 million loan to fund SPEC's investments.
- New York Power Authority Government — Provider of up to $10 million in funding overseen by SPEC.
- New York Power Authority Government — Source of photo and potential collaborator or stakeholder in regional energy development
strategies · 2
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Impact Investing for Local Economic and Environmental Benefitmethodology: impact_investing_local_economic_developmentBy deploying equity capital to early-stage renewable energy and environmental technology companies, we generate quality local jobs and drive market-changing innovations, because aligning financial returns with community and environmental outcomes creates sustainable, place-based economic development.
- Stakeholder-Aligned, Technology-Driven Investment Modelmethodology: technology_driven_stakeholder_alignmentBy investing in early-stage companies with compelling business plans, proprietary technologies, and aligned stakeholders, we increase the likelihood of commercial success and scalable impact, because strong planning, innovation, and shared goals reduce execution risk and enhance performance.