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NYS ECONOMIC DEVELOPMENT INC
PITTSFORD, NY · EIN 825261787 · Form 990 · FY2024 · Small ($100K-$1M) · ecdevpartners.com
revenue
$220K
expenses
$6K
net assets
$214K
employees
0
program ratio
0%
mission · from form 990

NYS ECONOMIC DEVELOPMENT INC. DBA ECONOMIC DEVELOPMENT PARTNERS & EDPI WAS FORMED TO PROVIDE ECONOMIC DEVELOPMENT COUNSELING AND FINANCIAL ASSISTANCE IN THE FORM OF (I) SALES AND MORTGAGE TAX EXEMPTIONS TO INDUCE ECONOMIC DEVELOPMENT PROJECTS WITHIN NEW YORK STATE AND (II) TAX-EXEMPT FINANCING TO INDUCE ECONOMIC DEVELOPMENT PROJECTS NATIONWIDE.

profile · synthesized from sources

NYS Economic Development Inc., doing business as Economic Development Partners and EDPI, is a nonprofit formed in 2018 to promote economic development projects in New York State. It provides financial incentives such as sales and mortgage tax exemptions to attract development, with an initial focus on a medical office building in Hornell, NY. The organization also offers tax-exempt financing for projects nationwide.

named programs · 2 · from sources

What they call their work

Sales and Mortgage Tax Exemption Program
Provides sales tax and mortgage tax exemptions to incentivize economic development projects within New York State, starting with a medical office building in Hornell.
Tax-Exempt Financing Program
Offers tax-exempt financing to support economic development projects across the United States.
activities · 1 group

What they do

  • Local Business Financing and Incentives 2 activities
    • Providing tax-exempt financing and tax exemptions for economic development projects
      Offers sales tax exemptions, mortgage tax exemptions, and tax-exempt financing to support economic development initiatives, primarily within New York State, with some activity extending nationally. These financial incentives are used to support infrastructure and development projects such as medical facilities.
    • Supporting specific development projects through New Markets Tax Credit financing
      Facilitates the development of targeted economic projects by structuring financing through the New Markets Tax Credit program, such as supporting the construction of a medical office building in Hornell, NY, to enable a new hospital facility.
financials · form 990 · fy2024
revenue
Total revenue$220K
Contributions & grants$00%
Program service revenue$220K100%
Investment income$00%
Other revenue$0
expenses
Total expenses$6K
Program expenses0%
Admin / overhead100%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$214K
Cash$214K
Investments$0
Liabilities$0
Net assets$214K
Liquid reserves410.1 mo
1 years on record · 2024–2024
leadership · form 990 part vii · fy2024

Who runs it

board members · 5
  • ED SHEERAN — VICE-CHAIRMAN
  • GLENN COOKE — CHAIRMAN
  • JUDY SEIL — TREASURER
  • JULIE MARSHALL — SECRETARY
  • ROBERT RYAN — VICE PRESIDENT/DIRECTOR
strategies · 1

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.

  • Tax-Incentive-Based Economic Development
    methodology: tax_incentive_based_economic_development
    By offering tax incentives and tax-exempt financing, we stimulate private investment and economic development activity in targeted regions because reduced financial barriers encourage businesses to initiate or expand projects they otherwise would not undertake.