irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $0PROVIDED 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.
named programs · 3 · from sources
What they call their work
Industrial Real Estate Development
Acquires, develops, and disposes of industrial properties to support business expansion and relocation, including infrastructure improvements and lease agreements.
PILOT Program (Payment in Lieu of Taxes)
Administers tax exemption agreements with businesses and developers to incentivize investment and development in Hornell, including long-term property tax abatements.
Small Business Loan Program
Provides short-term, low-interest loans up to $20,000 to small businesses in Hornell to offset economic losses, with repayment terms up to thirty-three months.
activities · 5 groups
What they do
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Transparent Governance Meetings 1 activity
- Conducts governance and board operationsHolds regular monthly board meetings as part of its operational governance, with scheduled calendars published through 2026.
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Nonprofit Real Estate Holding 1 activity
- Owns and leases industrial and commercial propertiesOwns and manages 14 properties totaling approximately 1.2 million square feet of industrial and commercial space in Hornell, offering building- and shovel-ready sites through a flexible leasing program.
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Regional Economic Development Initiatives 1 activity
- Partners with businesses and government for economic developmentCollaborates with local businesses and government agencies to support community growth in manufacturing, retail, healthcare, and other sectors, establishing dozens of partnerships over the past 15 years that have contributed to job creation and local economic growth.
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Annual Impact and Evaluation Reporting 1 activity
- Produces organizational reporting and financial disclosuresPrepares and publishes annual reports, audited financial statements, and performance metrics for 2024 and 2025, detailing projects assisted, jobs impacted, and private investment leveraged.
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Women Entrepreneurs Grant Programs 1 activity
- Provides financial assistance to businessesOffers financial support to qualified businesses and projects through tax abatements, infrastructure improvements, tax exemptions, grants, conduit bond financing, lease/leasebacks, and loan programs; supported the creation of hundreds of jobs and retention of over 1,000 positions through targeted investments.
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financials · form 990 · fy2024
revenue
Total revenue$229
Contributions & grants$00%
Program service revenue$00%
Investment income$229100%
Other revenue$0
expenses
Total expenses$11K
Program expenses54%
Admin / overhead46%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$335K
Cash$299K
Investments$0
Liabilities$0
Net assets$335K
Liquid reserves312.7 mo
5 years on record · 2020–2024 · YoY revenue +213.7%
leadership · form 990 part vii · fy2024
Who runs it
board members · 5
- DAVID PARMLEY — BOARD CHAIRMAN
- ED FLAITZ — CFO, TREASURER
- JOHN BUCKLEY — VICE CHAIRMAN
- JOHN CARBONE — SECRETARY
- RICHARD ANDOLINA JR — BOARD MEMBER
relationships · 17
Who they work with
- ARC Government — Collaborated with the Appalachian Regional Commission on multiple infrastructure investments.
- Alstom Transportation, Inc. Partner — Partnered on lease agreement and infrastructure development at Shawmut site with tax benefits and PILOT agreement.
- Amexstra, Inc. Partner — Partnered on lease and PILOT agreement with multiple amendments, including payment forgiveness and deferral.
- CHIDA Government — Partnered with the Chemung County Industrial Development Agency on various site and infrastructure projects.
- City of Hornell Government — Collaborates with city leadership to streamline processes for business development.
- City of Hornell Government — Collaborates with the City of Hornell on economic development initiatives, property management, and infrastructure projects.
- City of Hornell Government — Collaborates with the City of Hornell on economic development projects and approvals.
- City of Hornell Government — Collaborates with the City of Hornell to support economic development and business growth.
- City of Hornell Government — Primary municipal partner for economic development initiatives.
- EDA Government — Partnered with the Economic Development Administration to fund infrastructure and industrial projects.
- Gray Manufacturing Industries LLC Partner — Partnered on property sale and PILOT agreements for facilities at 6258 and 6270 Ice House Road.
- HUD Government — Received funding support from the U.S. Department of Housing and Urban Development for industrial and site development projects.
- Indus 36 LLC Partner — Partnered on project agreement and PILOT arrangement for development in Hornell.
- Local businesses Partner — Partners with local businesses to support economic growth and community development.
- NYS Government — Received state-level funding from New York State for industrial and infrastructure development.
- Steuben County Government — Received government investment from Steuben County for industrial development projects.
- UR Medicine Partner — Partnered to expand healthcare services in Hornell through St. James Hospital.
strategies · 4
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.
- Economic Development Through Place Promotion and Incentivesmethodology: economic_development_through_incentivesBy promoting Hornell as a high-quality, affordable location and offering targeted financial incentives such as tax abatements, PILOT agreements, and sales tax exemptions, the organization reduces investment barriers and attracts businesses, because location appeal and cost competitiveness are key drivers of business relocation and expansion decisions.
- Public Sector Collaboration to Reduce Bureaucratic Barriersmethodology: public_sector_collaborationBy partnering with city leadership to streamline processes and reduce financing obstacles, the organization increases the efficiency and attractiveness of doing business in Hornell, because regulatory friction is a key deterrent to business investment.
- Sector-Targeted Business Retention and Financial Supportmethodology: sector_based_business_supportBy focusing on expanding established sectors like transportation manufacturing and supporting business retention and growth through financial assistance, industrial development bonds, and technical support, the organization fosters local economic resilience, because targeted support for viable firms maximizes job preservation and growth potential.
- Shovel-Ready Infrastructure and Public-Private Revitalizationmethodology: shovel_ready_developmentBy providing shovel-ready sites and revitalizing underutilized properties through public-private partnerships, the organization accelerates business occupancy and investment, because reducing site development time and sharing risk lowers barriers to private sector investment.