irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $363KSTUDY, PLAN AND ASSIST THE PHYSICAL DEVELOPMENT OF THE BOROUGH.
- #2 $294KTECHNICAL ASSISTANCE TO INDUSTRIAL BUSINESSES.
named programs · 3 · from sources
What they call their work
Downtown Revitalization Initiative (DRI) Grant Program
Provides competitive grants of up to $100,000 to businesses in St. George, Tompkinsville, and Stapleton for renovations, equipment purchases, and improvements to strengthen commercial corridors and promote long-term economic growth.
Offshore Wind Economic Development Initiative
Supports the development of offshore wind infrastructure on Staten Island, including port facility planning at the Arthur Kill Terminal to enable green job creation and industrial adaptation for renewable energy projects.
Technical Assistance to Industrial Businesses
Offers planning and advisory services to industrial businesses on Staten Island to support operational growth and economic development.
activities · 10 groups
What they do
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Business Improvement District Management 2 activities
- Manage neighborhood development and Business Improvement Districts (BIDs)Manages the largest portfolio of neighborhood development initiatives on Staten Island, supporting merchant groups and BIDs including the West Shore BID (since 2015), Victory Boulevard Merchants Association, and the Richmond Avenue Merchants Association formed in 2022.
- Operate the Industrial Business Zone (IBZ) ProgramOperates the IBZ Program, which provides specialized financing, government incentives, and workforce development support to businesses expanding supply chains on Staten Island.
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Workforce Readiness Training 1 activity
- Conduct workforce development initiatives and talent placementConducts borough-wide workforce initiatives to inform training and funding programs and operates a no-cost Staten Island Talent Pool that connects local employers with job-ready workers.
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Professional Association Capacity Building 1 activity
- Deliver financial literacy and business development resourcesProvides financial literacy resources and supports nearly 200 member businesses with business development tools, networking opportunities, and capacity-building guides to improve sales and commercial activity.
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Curated Art Exhibitions and Public Displays 1 activity
- Develop public art and cultural trails to connect downtown neighborhoodsCreates the North Shore Art Trail and implements public art installations—including murals, sculptures, and digital art—along Bay Street, Front Street, and connecting side streets to link St. George, Tompkinsville, and Stapleton with an emphasis on sustainability.
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Local Business Financing and Incentives 1 activity
- Facilitate access to government incentives for businessesHelps industrial businesses apply for and receive city and state incentives such as tax abatements, energy cost savings programs, and job credits, securing over 60 incentives in two years.
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Women Entrepreneurs Grant Programs 1 activity
- Fund transformative business improvements on Staten Island's North ShoreOffers competitive grants of up to $100,000 to businesses in St. George, Tompkinsville, and Stapleton for interior and exterior renovations, equipment purchases, and other upgrades to strengthen commercial corridors.
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Flexible Grants to Grassroots Organizations 1 activity
- Launch and manage matching grant programs for small businessesLaunched the Build A Bridge Fund, a 2:1 matching grant program that triples the impact of contributions to support small businesses and entrepreneurs on Staten Island.
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Industry and Community Recognition Awards 1 activity
- Organize community events and recognition programsOrganizes free community events such as the SIEDC Health & Wellness Expo and Annual Business Conference, and hosts an annual gala to honor contributors to Staten Island’s economic development.
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Small Business and Nonprofit Lending 1 activity
- Provide technical and financing assistance to industrial businessesProvides technical assistance, free financing assistance, and serves as a liaison to resolve government agency issues for industrial businesses; helped secure over $17 million in loans since 2016 and over $30 million in financing between 2015 and 2019.
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Uncategorized 2 activities
- Advance offshore wind and green manufacturing infrastructureSupports state efforts to expand offshore wind manufacturing and supply chain infrastructure through alignment with government investment initiatives.
- Support physical development and infrastructure projects on Staten IslandStudies, plans, and assists in the physical development of Staten Island, including large-scale infrastructure such as the West Shore Light Rail and the SI Gondola, and ensures DRI-funded projects are completed by June 2026 for timely community reinvestment.
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financials · form 990 · fy2024
revenue
Total revenue$2.25M
Contributions & grants$1.68M74%
Program service revenue$429K19%
Investment income$19K1%
Other revenue$131K
expenses
Total expenses$2.16M
Program expenses80%
Admin / overhead10%
Fundraising10%
Salaries & benefits$1.32M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$2.35M
Cash$1.48M
Investments$0
Liabilities$474K
Net assets$1.88M
Liquid reserves8.2 mo
5 years on record · 2020–2024 · YoY revenue -5.5%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 4
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| MICHAEL CUSICK | PRESIDENT & | 35 | $257K |
| GINA GUTMAN | SR. VICE PRE | 35 | $184K |
| ELI KHAZZAM | VP PROJECTS | 35 | $120K |
| DORIS VITIELLO | COMPTROLLER | 35 | $92K |
board members · 21
- ANTHONY SANTO — DIRECTOR
- CAROL BULLOCK — DIRECTOR
- CAROL DECINA — SECRETARY
- DANIEL MESSINA PHD — DIRECTOR
- DANIEL RYAN — EXECUTIVE CO
- DR BRAHIM ARDOLIC — DIRECTOR
- DWIGHT GENIAS — DIRECTOR
- ED BIRDIE — MEMBERSHIP M
- EVAN PETRACCA — DIRECTOR
- FRANK NASO — DIRECTOR
- FRED DIGIOVANNI — DIRECTOR
- GARY ANGIULI — DIRECTOR
- GINA ARGENTO — DIRECTOR
- JAMES P MOLINARO — DIRECTOR
- JEFFREY A DOGGERT — DIRECTOR
- JOE FERRARA — DIRECTOR
- JOE TORRES — VICE CHAIRMA
- JOHN ATKINS — DIRECTOR
- JOHN DILEO JR — DIRECTOR
- JOSEPHINE PORTUESI — DIRECTOR
- KENNETH MITCHELL — DIRECTOR
relationships · 22
Who they work with
- Advance Local Partner — Represented by Caroline Harrison, CEO and Publisher of the Staten Island Advance, honored in 2026 for contributions to local journalism and community empowerment.
- Atlantic Offshore Terminals Partner — Collaborates to develop the Arthur Kill Terminal into a port facility supporting offshore wind energy projects.
- College of Staten Island Partner — Board member Robert Wallace represents College of Staten Island
- College of Staten Island Partner — Represented by Robert Wallace, a 2026 honoree and Chief Administrator in Charge of Community Partnerships and Government Relationships at CSI.
- Councilman Joseph Borelli Government — Charged SIEDC in 2022 with launching a BID exploration project on Richmond Avenue.
- Industrial Business Zone (IBZ) Program Government — Borough-affiliated program administered by SIEDC to support industrial businesses on Staten Island.
- New York City Council Government — Engages with city council representatives to support offshore wind development on Staten Island.
- New York City Council Government — Represented by Kamillah Hanks, NYC Council Majority Whip, honored in 2026 for leadership in economic development and public service on Staten Island.
- New York City Department of Small Business Services Government — Primary government partner providing funding and program support for SIEDC's Industrial Business Zone initiatives.
- New York City Economic Development Corporation Government — Selected SIEDC in 2012 to assist in developing the West Shore Business Improvement District.
- New York State Government — Primary funder of the Downtown Revitalization Initiative (DRI) grant awarded to Staten Island’s North Shore neighborhoods.
- New York State Government Government — Aligns with state-level offshore wind investment and clean energy goals under Governor Kathy Hochul.
- Northwell Health Partner — Board member Dr. Brahim Ardolic represents Staten Island University Hospital/Northwell Health
- Pride Center of Staten Island Partner — Board member Carol Bullock represents Pride Center of Staten Island
- Richmond University Medical Center Partner — Board member Dr. Daniel Messina represents Richmond University Medical Center
- SIEDC Board of Directors Network — Comprised of 40 prominent Staten Island business leaders who guide local economic development decisions.
- SIEDC members Network — Network of 200 members who serve as economic advocates and support SIEDC's programs and events.
- Specialties by TradeMark Graphics Partner — Represented by Vincent Bonomi, President and Managing Partner, honored in 2026 for workforce development and economic contributions to Staten Island.
- Staten Island Chamber of Commerce Partner — Co-administers the DRI grant program and supports business revitalization initiatives in St. George, Tompkinsville, and Stapleton.
- Staten Island Foundation Partner — Partnered with the Staten Island Foundation to launch the Build A Bridge Fund through its Diamond Matching Grant Program.
- Tunnel To Towers Foundation Partner — Honored as a 2026 honoree at SIEDC's Liberty & Legacy gala for its service to first responders and military heroes.
- Wagner College Partner — Board member Jeffrey Doggett represents Wagner College
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.
- Business Improvement District (BID) Model for Local Economic Growthmethodology: business-improvement-district-modelBy establishing and supporting Business Improvement Districts, the organization leverages collective public and private investment to deliver services, events, and infrastructure improvements that enhance commercial vitality and create diverse employment opportunities because structured district-level governance stimulates coordinated development.
- Employer-Driven Workforce Developmentmethodology: employer-driven workforce developmentBy aligning workforce training programs with direct input from employers, the organization ensures skills development meets emerging industry demands, thereby increasing local employment and economic competitiveness because training is responsive to real market needs.
- Intermediary Support Model for Industrial Businessesmethodology: intermediary_support_modelBy acting as a centralized intermediary between industrial businesses and government agencies, the organization streamlines access to financing, incentives, and training because reducing bureaucratic complexity increases business participation and project success rates.
- Port-Centric Industrial Revitalizationmethodology: port-centric_economic_developmentBy adapting existing maritime and industrial infrastructure—particularly port facilities—for modern economic uses like offshore wind energy, the organization drives job creation and regional competitiveness because strategic infrastructure repurposing attracts high-growth industries and lowers barriers to entry for large-scale projects.