2024-02-01T14:28:55-06:00 2023-09-30 141624930 TEAL BECKER & CHIARAMONTE CPAS PC 7 WASHINGTON SQUARE ALBANY NY 12205 990 2022-10-01 264032355 NYBDC LOCAL DEVELOPMENT CORPORATION NYBD 5184632268 50 BEAVER STREET ALBANY NY 12207 OWEN BURNS SENIOR VICE PRESIDENT 5184632268 2024-01-26 1 OWEN BURNS XXX-XX-XXXX 0 STEPHANIE MUMFORD CPA P01278366 5184566663 2024-01-16 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z 50 BEAVER STREET ALBANY NY 12207 12326838 0 X N/A X 2009 NY TO ASSIST SMALL BUSINESSES IN THE ACQUISITION OF REAL PROPERTY, AND CONSTRUCTION, RENOVATION OR OTHER IMPROVEMENTS THEREON, AND THEREBY PROMOTE AND ENCOURAGE THE BUSINESS PROSPERITY AND ECONOMIC WELFARE OF THE STATE OF NEW YORK; TO ENCOURAGE AND ASSIST IN THE LOCATION OF NEW BUSINESS AND INDUSTRY IN THE STATE OF NEW YORK; AND TO PROVIDE FINANCING TO BOTH NEW AND EXISTING BUSINESSES AND INDUSTRY; AND TO CREATE AND RETAIN JOBS WITHIN THE STATE OF NEW YORK. 9 8 29 0 0 0 7747570 7492632 3653971 4834206 0 0 0 0 11401541 12326838 0 0 0 0 3271775 4373892 0 0 0 2373428 3516592 5645203 7890484 5756338 4436354 39799179 46460680 19751498 21976645 20047681 24484035 SEE SCHEDULE O 0 0 6333524 4834206 THE CORPORATION MAKES LOANS TO SMALL BUSINESSES ON TERMS THAT WOULD NOT BE REASONABLY AVAILABLE FROM COMMERCIAL LENDERS DOING BUSINESS IN NYS IN ORDER TO: RELIEVE AND REDUCE UNEMPLOYMENT, PROMOTE AND PROVIDE FOR ADDITIONAL AND MAXIMUM EMPLOYMENT, AID COMMUNITIES IN NYS BY ENCOURAGING THE DEVLOPMENT AND/OR RETENTION OF INDUSTRY. THE CORPORATION CONTINUES TO EVOLVE AND OFFER A WIDE RANGE OF FINANCIAL AND BUSINESS ADVISORY SERVICES TO SMALL BUSINESSES IN NEW YORK STATE AND IS NOW OPERATING UNDER THE NAME PURSUIT COMMUNITY FINANCE. 6333524 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 57 0 1 29 1 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NY X OWEN BURNS 5186948458 50 BEAVER STREET ALBANY NY 12207 CHRIS LEVY CEO 1.00 X X 0 374139 0 GARY BERNER DIRECTOR 1.00 X X 1850 0 0 GREGG BISHOP DIRECTOR 1.00 X X 2000 0 0 BRUCE BOYEA DIRECTOR 1.00 X X 2000 0 0 JOHN WITKOWSKI DIRECTOR 1.00 X X 1500 0 0 JAMES BYRNES DIRECTOR 1.00 X X 2000 0 0 PATRICK MACKRELL DIRECTOR 1.00 X X 1500 0 0 MICHAEL PUGH DIRECTOR 1.00 X X 1000 0 0 SONYA SMITH DIRECTOR 1.00 X X 500 0 0 OWEN F BURNS EXECUTIVE VP & CFO 1.00 X 0 283672 0 STEVEN R COHEN PRESIDENT 40.00 X 282331 0 0 SHERRI FALCK ASSISTANT VICE PRESIDENT 40.00 X 97060 0 0 PAOLA GARCIA VICE PRESIDENT 40.00 X 113254 0 0 BRAD SEADER VICE PRESIDENT 40.00 X 148316 0 0 DAVID HANOLD VICE PRESIDENT AND CHIEF L 1.00 X 0 127728 0 JAMES BILOTTA VICE PRESIDENT 40.00 X 48018 0 0 MALINI KRISHNA VICE PRESIDENT 40.00 X 101282 0 0 ZACHARY LAJEUNESSE VICE PRESIDENT 1.00 X 0 85285 0 CAROL O'CONNELL VICE PRESIDENT 40.00 X 77600 0 0 WESLEY SLYKE VICE PRESIDENT 40.00 X 111287 0 0 LEO ZHANG VICE PRESIDENT 40.00 X 93792 0 0 1085290 870824 0 5 0 1 0 0 7492632 7492632 INTEREST INCOME 522200 3062319 3062319 ORIGINATION FEES 522200 1771887 1771887 4834206 12326838 4834206 0 0 3745590 2893185 852405 456354 410719 45635 171948 154753 17195 41010 36909 4101 65000 65000 78646 64599 14047 676068 645541 30527 26310 26310 108246 76278 31968 695557 695557 SHARED STAFFING EXPENSE 989848 494924 494924 PROVISION FOR LOAN LOSS 834749 834749 BANK FEES 1158 1158 7890484 6333524 1556960 0 7722884 5224297 3568303 2084216 1809369 849138 26295292 33024487 5000000 403331 278542 39799179 46460680 565339 802847 19091161 21068189 94998 105609 19751498 21976645 X 14685819 16887786 5361862 7596249 20047681 24484035 39799179 46460680 4436354 0 X 0 1 X 0 1 1 X 1751320 7797016 7087813 7747570 7492632 31876351 6132346 4678898 4580174 3653971 4834206 23879595 7883666 12475914 11667987 11401541 12326838 55755946 0 0 0 55755946 7883666 12475914 11667987 11401541 12326838 55755946 1.00000 1.00000 0.00000 X 0 0 CERTIFICATE OF DEPOSIT 5000000 C 5000000 INTEREST PAYABLE 105609 105609 X 12326838 0 12326838 0 12326838 7890484 0 7890484 0 7890484 PART X, LINE 2: THE COMPANY FOLLOWS THE GUIDANCE FOR UNCERTAINTY IN INCOME TAXES. AS OF SEPTEMBER 30, 2023, THE COMPANY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS RETURNS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE COMPANY HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING DISCLOSURE, AND THERE ARE NO MATERIAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS. 0 0 0 0 0 0 0 0 0 CHRIS LEVY CEO 0 374139 0 0 0 0 0 0 0 0 0 374139 0 0 OWEN F BURNS EXECUTIVE VP & CFO 0 283672 0 0 0 0 0 0 0 0 0 283672 0 0 STEVEN R COHEN PRESIDENT 282331 0 0 0 0 0 0 0 0 0 282331 0 0 0 BRUCE BOYEA ALSO SERVES AS A DIRECTOR OF THE NEW YORK BUSINESS DEVELOPMENT CORPORATION 0 FORM 990, PART VI, SECTION B, LINE 11B THE ENTIRE BOARD WILL NOT REVIEW FORM 990 PRIOR TO FILING. FORM 990 WILL BE REVIEWED BY THE CONTROLLER AND PRESIDENT/CEO FOR ACCURACY AND COMPLETENESS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS MUST SIGN A STATEMENT WHEN ELECTED TO THEIR INITIAL AND ANY SUBSEQUENT TERMS, DETERMINED ANNUALLY, AFFIRMING THAT THEY UNDERSTAND AND COMPLY WITH THE CONFLICT OF INTEREST POLICY, WHICH INCLUDES A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST. CONFLICTS OF INTEREST ARE DETERMINED BY THE REMAINING BOARD MEMBERS AND HANDLED ACCORDINGLY. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WILL BE MADE AVAILABLE, WITH PRESIDENT/CEO AUTHORIZATION, TO THE PUBLIC UPON REQUEST. NEW YORK BUSINESS DEVELOPMENT CORPORATION 50 BEAVER STREET ALBANY NY 12207 PARTICIPATES WITH BANKS TO PROVIDE LONG TERM FINANCING TO BUSINESSES IN NYS NY C 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 NEW YORK BUSINESS DEVELOPMENT CORPORATION N NEW YORK BUSINESS DEVELOPMENT CORPORATION E 9614644 AMOUNT INVOLVED REPRESENTS LARGES NEW YORK BUSINESS DEVELOPMENT CORPORATION D 8300746 AMOUNT INVOLVED REPRESENTS LARGES