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Centerstate Development Foundation Inc

EIN 16-1165469 · Syracuse, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood82 out of 100GovernanceGood88 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

ECONOMIC DEVELOPMENT OF THE CITY OF SYRACUSE AND URBAN AREA IN UPSTATE NEW YORK

Income
$1.9 million
Spending
$2.1 million
Spent on programs
77%
Reserves
9.4 months of spending
Largest source of income
fees for its services, 77%
Employees
0
Volunteers
0
Highest pay
$434,054, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 82 out of 100. Higher than 64% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.4 months of spending.

  • Debt

    20 of 20

    It owes 14% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 7% of income.

  • Income trend

    15 of 15

    Income rose 22% on the year before.

  • Spending floor

    15 of 15

    77% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 88 out of 100. Higher than 48% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    23 of 24 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $1.6 million spent. SEE SCHEDULE ODURING THE YEAR, THE FOUNDATION'S EFFORTS WERE FOCUSED ON ACTIVITIES ALIGNED WITH ITS EXEMPT PURPOSES AND MISSION. ITS MISSION IS TO UNLOCK THE ECONOMIC POTENTIAL OF ALL CENTRAL NEW YORK'S PEOPLE AND PLACES BY ATTRACTING PUBLIC AND PHILANTHROPIC CAPITAL. ITS EXEMPT PURPOSE IS TO SUPPORTS ACTIVITIES THAT BUILD LOCAL AND REGIONAL CAPACITY TO COMBAT COMMUNITY AND NEIGHBORHOOD DETERIORATION, OFFER SOLUTIONS TO PROBLEMS CHALLENGING URBAN AREAS, ENCOURAGE THE DEVELOPMENT, ATTRACTION, AND RETENTION OF INDUSTRY ESPECIALLY IN DISTRESSED AREAS, ENSURE AREA RESIDENTS HAVE ACCESS TO EMPLOYMENT, ENCOURAGE CULTURAL AND COMMUNITY ACTIVITIES, PROMOTE THE STUDY OF COMMUNITY HEALTH NEEDS, AND PROMOTE THE OVERALL ECONOMIC DEVELOPMENT OF CENTRAL NEW YORK. THE FOUNDATION LEADS AND COLLABORATES WITH PARTNERS ON PROJECTS OF LOCAL AND REGIONAL SIGNIFICANCE AND FISCALLY SPONSORS PROJECTS ALIGNED WITH ITS MISSION AND PURPOSE.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 1982.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.