irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $0Provide loan funds for small businesses via SBA and US Department of Agriculture programs and local loan assistance programs.
named programs · 6 · from sources
What they call their work
Adirondack Opportunity Fund
Private-dollar loan fund launched in 2023 with support from Adirondack Foundation, Cloudsplitter Foundation, and Weatherup Family Trust; enables bridge financing and leverages state/federal matching funds.
Business Bootcamp
8-week virtual course for entrepreneurs covering business launch and growth strategies; includes expert instruction and networking opportunities.
Business Counseling & Technical Assistance
One-on-one counseling and mentoring for business owners, including help with loan applications, business planning, and navigating public certifications like M/WBE.
Entrepreneurship Assistance Program (EAP) / Small Business Institute
60-hour comprehensive training course for new and existing business owners covering business planning, marketing, finance, and cash flow; includes mentorship and culminates in a professional business plan.
Financial Empowerment Program
Free, confidential financial literacy program based on CFPB’s “Your Money, Your Goals” toolkit; helps individuals improve credit, savings, debt management, and financial decision-making.
Small Business Lending Program
Provides customized loans through 10 loan funds, including SBA, USDA-RD, and NYS M/WBE programs, with amounts starting at several thousand dollars and interest rates between 6–9%.
activities · 4 groups
What they do
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Startup Acceleration & Business Growth Support 1 activity
- Delivering entrepreneurship training and business planning supportOffers comprehensive entrepreneurship programming including a 60-hour Entrepreneurship Assistance Program (EAP) Small Business Institute and an 8-week virtual Entrepreneur Bootcamp, providing training in business plan development and connecting participants with funding sources. Also provides one-on-one counseling and intensive technical assistance to help entrepreneurs launch and grow businesses.
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Financial Literacy Education Programs 1 activity
- Delivering financial literacy and financial empowerment programmingOperates a Financial Empowerment Program that assesses individual financial literacy needs and delivers tailored services to improve residents' financial decision-making and long-term financial health.
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Small Business and Nonprofit Lending 1 activity
- Providing small business loans through public and private financing programsOffers customized business loans, bridge financing, and microloans to small businesses and nonprofit organizations through SBA, USDA, and local loan assistance programs, including the Adirondack Opportunity Fund, a private dollar-based loan fund launched in 2023. Examples include loans to a liquor store during the pandemic, Pendragon Theater, and a fermented foods company scaling production.
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Small Business Technical Assistance 1 activity
- Providing technical assistance and capacity building for small businessesOffers mentoring, business model development support, and connections to resource partners to help existing and emerging businesses grow and adapt, including specialized guidance for navigating New York State M/WBE and WBE certification processes.
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financials · form 990 · fy2024
revenue
Total revenue$727K
Contributions & grants$587K81%
Program service revenue$138K19%
Investment income$2K0%
Other revenue$0
expenses
Total expenses$893K
Program expenses79%
Admin / overhead21%
Fundraising0%
Salaries & benefits$417K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$3.89M
Cash$1.61M
Investments$0
Liabilities$2.75M
Net assets$1.13M
Liquid reserves21.6 mo
5 years on record · 2020–2024 · YoY revenue -23.5%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 2
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Victoria Duley | Executive Dir. | 38 | $130K |
| KEVIN WILSON | FINANCE DIRECT. | 38 | $88K |
board members · 14
- Amber Stevens — Director
- Cedric Carter — Director
- Heather Couture — Treasurer
- JAMES LAZORE — Vice Chair
- James Rucker — Secretary
- John Piseck Jr — Director
- Kelly Gonyo — Director
- MICHELLE CAPONE — Director
- MIKE KINNIE — Director
- Molly Ryan — Director
- Patricia Wilson — Director
- Robert Aiken — Chairperson
- Timothy Kononan — Director
- Tori Riley — Director
relationships · 44
Who they work with
- Adirondack Bank Partner — Partnered with AEDC on the Adirondack Opportunity Fund to expand lending across Northern New York.
- Adirondack Federal Credit Union Partner — Regional partner of AEDC
- Adirondack Foundation Partner — Co-established the Adirondack Small Business Opportunity Fund with AEDC and ESD.
- Adirondack Foundation Partner — Provided initial loan funding for the Adirondack Opportunity Fund
- Adirondack North Country Association Partner — Regional association collaborating with AEDC on business transition support services.
- Adirondack North Country Association (ANCA) Center for Businesses in Transition Partner — Regional partner of AEDC
- Champlain National Bank Partner — Regional partner of AEDC
- Cloudsplitter Foundation Partner — Provided initial loan funding for the Adirondack Opportunity Fund
- Community Bank, N.A. Partner — Regional partner of AEDC
- Community Development Financial Institution (CDFI), the US Department of Treasury Government — Government affiliate and regional partner of AEDC
- Consumer Financial Protection Bureau Partner — Utilizes the Consumer Financial Protection Bureau's 'Your Money, Your Goals' toolkit in its Financial Empowerment Program.
- Dr. Chad J. Czelusniak-Serviss Partner — Business counselor and MWBE specialist serving as instructor for AEDC's entrepreneurship skills course.
- Empire State Development Government — Government affiliate and regional partner of AEDC
- Empire State Development Government — Partnered with AEDC and Adirondack Foundation to establish the Adirondack Small Business Opportunity Fund.
- Herkimer County IDA Partner — Partnered with AEDC and LivingADK to provide small business assistance in northern Herkimer County.
- Herkimer County Industrial Development Agency Government — Government affiliate and regional partner of AEDC
- IgniteU NY PTAC Partner — PTAC organization offering procurement assistance in collaboration with AEDC.
- Lewis County IDA / Naturally Lewis Government — Government affiliate and regional partner of AEDC
- LivingADK Partner — Collaborates with AEDC and Herkimer County IDA to deliver small business counseling services.
- NYS Entrepreneurship Assistance Center (EAC) Partner — Regional partner of AEDC
- New York Empire State Development Corporation Government — State-level economic development partner referenced as a key resource for businesses in the AEDC service area.
- New York Small Business Development Center Partner — Regional partner of AEDC
- New York Small Business Development Center Partner — Statewide network delivering no-cost consulting and low-cost training to small businesses in coordination with AEDC.
- New York State Government — Administers the Minority and Woman-owned Business Enterprise (M/WBE) certification program that AEDC supports.
- New York State Government — Provides certification and potential funding alignment for Minority or Woman-owned Business Enterprises (M/WBE) in partnership with state programs.
- North Country PTAC Partner — Procurement Technical Assistance Center providing contracting support to businesses through partnership with AEDC.
- Northern Border Regional Commission Funder — Awarded AEDC a grant to launch a nonprofit business accelerator.
- Paul Smith's College Partner — Regional partner of AEDC
- Paul Smith’s College Partner — Higher education institution partnered with AEDC to provide resources for small businesses.
- SBA Government — Federal agency partner in small business loan funding
+ 14 more
strategies · 5
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.
- CDFI Model for Underserved Communitiesmethodology: cdfi_modelBy operating as a Community Development Financial Institution (CDFI), we expand access to capital and integrated financial services in underserved regions because this model combines mission-driven lending with advisory support to de-risk and sustain small business growth where traditional finance fails.
- Client-Centered Financial and Business Coachingmethodology: client-centered-coachingWe improve financial health and business outcomes by offering free, confidential, and individually tailored coaching because meeting clients where they are reduces participation barriers and builds trust necessary for sustained engagement and behavior change.
- Financial Literacy as Foundational Interventionmethodology: financial-literacy-firstBy prioritizing financial literacy, we address generational poverty and instability because foundational knowledge empowers individuals to make sustainable financial decisions, increasing the effectiveness of subsequent capital and coaching interventions.
- Networked Capacity Buildingmethodology: networked_service_deliveryWe increase service reach and resource accessibility for small businesses by partnering with regional and federal development organizations because collaboration multiplies expertise, funding access, and programmatic capacity beyond what any single entity can deliver.
- Public-Private Capital Leveragingmethodology: public-private_financingBy combining private loan funds with public financing programs, we double the impact of deployed capital because matching mechanisms unlock state and federal funds that would otherwise remain inaccessible, increasing capital availability for underserved entrepreneurs.