ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION Charity Report

Public IRS 990 nonprofit record

ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION

EIN 16-0874637 · Urban & Community Economic Development (S31)

What they do

to STRENGTHEN LOCAL BUSINESS, ATTRACT NEW INDUSTRIES and TALENT, and CREATE VIBRANT COMMUNITIES to GROW THE MOHAWK VALLEY ECONOMY

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $92.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders61 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

58.92%of revenue went to mission work92.4% of expenses · Program services

$63.78spent for every $100 of revenueRevenue covered expenses this year.

4.86%of revenue went to management and office costs7.6% of expenses

$7.33in assets for every $1 spent this yearSome assets cannot be spent right away.

55.1%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $207,455 for SHAWNA PAPALE (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$10,796,894

Mission workProgram services$6,361,57558.92% of revenue92.4% of expenses

ManagementOffice and general costs$524,4424.86% of revenue7.6% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$3,910,87736.22% of revenueShown in gray on the chart

Total expenses$6,886,01763.78% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 92.4% mission · 7.6% management · 0.0% fundraisingTotal expenses: 63.78% of revenue

2023Expense mix: 93.9% mission · 6.1% management · 0.0% fundraisingTotal expenses: 101.61% of revenue

2022Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 100.85% of revenue

2021Expense mix: 75.3% mission · 24.7% management · 0.0% fundraisingTotal expenses: 102.77% of revenue

2020Expense mix: 84.8% mission · 15.2% management · 0.0% fundraisingTotal expenses: 59.48% of revenue

2019Expense mix: 88.2% mission · 11.8% management · 0.0% fundraisingTotal expenses: 44.92% of revenue

2018Expense mix: 93.2% mission · 6.8% management · 0.0% fundraisingTotal expenses: 100.63% of revenue

2017Expense mix: 97.2% mission · 2.8% management · 0.0% fundraisingTotal expenses: 103.57% of revenue

Money in and money out

Revenue$10,796,894

Expenses$6,886,017

Annual surplus $3,910,877 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$6,361,575 · 92.4% of expenses

Management and office costs$524,442 · 7.6% of expenses

See all reported dollar amounts

Revenue$10,796,894

Expenses$6,886,017

Assets$50,447,197

Income$10,997,809

Contributions$5,951,446

Mission work (program services)$6,361,575

Grants given$2,642,721

Average grant$60,062

Management and general$524,442

Executive compensation (total)$427,650

Stocks and bonds$209,279

Accounting fees$30,850

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

SHAWNA PAPALEPRESIDENT · 40 hrs/week $207,455Base $161,899 · Other $45,556

MAUREEN CARNEYCHIEF FINANCIAL OFFICER · 40 hrs/week $144,115Base $121,259 · Other $22,856

CHRISTIAN MERCURIOVICE PRESIDENT PLANNING AN · 40 hrs/week $128,023Base $113,689 · Other $14,334

STEVEN DIMEOFORMER PRESIDENT · 40 hrs/week $102,977Base $93,625 · Other $9,352

NICHOLAS BRUNOSECRETARY, NON-VOTING · 40 hrs/week $98,564Base $88,433 · Other $10,131

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (61)

SHAWNA PAPALEPRESIDENT

MAUREEN CARNEYCHIEF FINANCIAL OFFICER

CHRISTIAN MERCURIOVICE PRESIDENT PLANNING AN

STEVEN DIMEOFORMER PRESIDENT

NICHOLAS BRUNOSECRETARY, NON-VOTING

NICK ALGERDIRECTOR

RICHARD TANTILLODIRECTOR

RICHARD EVANSDIRECTOR

RICHARD CREEDONDIRECTOR

RAYMOND HALBRITTERDIRECTOR

RANDY VAN WAGONERDIRECTOR

PETER BAILDONDIRECTOR

PATRICK BECHERTREASURER

RON BELLEDIRECTOR

NICHOLAS MAYHEWDIRECTOR

NICHOLAS MATTDIRECTOR

MICHELE DEVOEDIRECTOR

MICHAEL FRAMEVICE CHAIR

ROCCO ARCURIDIRECTOR

WILLIAM BOWERDIRECTOR

RONALD EDWARDSEX-OFFICIO VOTING MEMBER

RUSS BREWERDIRECTOR

RYAN OSHAUGHNESSYDIRECTOR

RYAN THOMPSONDIRECTOR

SABRINA WEBSTERDIRECTOR

SONDRA BUTCHERDIRECTOR

STEPHEN WATERSDIRECTOR

STEVE SURACEDIRECTOR

THOMAS CLARK JRDIRECTOR

TODD PFANNESTIELDIRECTOR

TOM NEUMANNDIRECTOR

ALICIA DICKSDIRECTOR

JIM MCCARTHYDIRECTOR

ANDY RUSSELLDIRECTOR

ANNA DAMBROSIODIRECTOR

BRIAN ANDERSONDIRECTOR

BRIAN LOUGHLINDIRECTOR

CHARLES GREENDIRECTOR

DARLENE STROMSTADDIRECTOR

DAVID KAVNEYDIRECTOR

DAVID M MANZELMANNDIRECTOR

DENISE CAVANAUGHEX-OFFICIO VOTING MEMBER

DOUGLAS WALTERSDIRECTOR

EVE VAN DE WALDIRECTOR

GENO DECONDOVICE CHAIR

GREG EVANSDIRECTOR

GREGORY MATTACOLAEX-OFFICIO VOTING MEMBER

MICHAEL BUSHARDTEX-OFFICIO VOTING MEMBER

JOHN BUFFADIRECTOR

JOHN ROMANODIRECTOR

JOHN SNYDEREX-OFFICIO VOTING MEMBER

JOHN J PISECKDIRECTOR

JUSTIN HUMMELCHAIRMAN

KAREN KOROTZERDIRECTOR

KEVIN GAGLIONEDIRECTOR

LAWRENCE T GILROY IIIDIRECTOR

LISA BETRUSDIRECTOR

MARIA KONTARIDISDIRECTOR

MARIANNE GAIGEDIRECTOR

MARK LEWISDIRECTOR

MATT NICHOLLDIRECTOR

About this charity

Recognized since: January 1988
Location: 584 PHOENIX DR, ROME, NY 13441-4929
County: Oneida
In care of: SHAWNA PAPALE
Primary officer: SHAWNA PAPALE, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Emailinfo@mvedge.org Phone(315) 338-0393

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: DARCANGELO & CO LLP
NTEE classification: Urban & Community Economic Development (S31)
IRS tax category: Urban & Community Economic Development
Grant-giving organization: Yes