NYBDC LOCAL DEVELOPMENT CORPORATION | PURSUIT COMMUNITY FINANCE

ALBANY, NY | Albany County
Economic Development
NYBDC LOCAL DEVELOPMENT CORPORATION | PURSUIT COMMUNITY FINANCE
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

NYBDC LOCAL DEVELOPMENT CORPORATION | PURSUIT COMMUNITY FINANCE
26-4032355
50 BEAVER STREET
ALBANY, NY 12207
Albany County
(518) 956-4442

mohara@pursuitlending.com
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Mission Statement info

AT PURSUIT (FORMERLY NEW YORK BUSINESS DEVELOPMENT CORPORATION), OUR MISSION IS SIMPLE: TO PROVIDE BUSINESSES WITH AFFORDABLE LOANS AND RESOURCES SO THAT THEY CAN REACH HIGHER, TRANSFORM AND GROW. PURSUIT IS A COMMUNITY-FOCUSED LENDER WHERE BUSINESSES CAN ACCESS MORE THAN 15 LOAN PROGRAMS THAT PROVIDE FINANCING FROM $10,000 TO $5.5 MILLION WITH AFFORDABLE RATES AND TERMS. LAST YEAR ALONE, PURSUIT PROVIDED MORE THAN $292 MILLION IN FUNDING THROUGH NEARLY 800 BUSINESS LOANS, CREATING MORE THAN 2,200 JOBS. PURSUIT IS A NATIONALLY RECOGNIZED ORGANIZATION THAT FOCUSES ON SERVING BUSINESSES AND LENDING PARTNERS IN NEW JERSEY, NEW YORK, PENNSYLVANIA, CONNECTICUT, ILLINOIS, WASHINGTON AND NEVADA

CRA Category info
  • Economic Development
Nonprofit location info
  • Majority Minority Census Tract
  • Opportunity Zone
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
1955
Total Employees info
150
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
S30

S - Community Improvement, Capacity Building

Economic Development

Organizations whose primary purpose is to stimulate the economy, expand employment opportunities, encourage the establishment and growth of commerce and industry and otherwise enhance the economic development of the community.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Military
  • Minority Individuals
  • Minority-Owned Businesses
  • Rural Residents
  • Small Businesses
  • Small Farms
  • Underbanked or Unbanked
  • Veterans
  • Women
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
60%
Percent LMI Served info
as reported by the nonprofit
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
LOWHIGH
LOWHIGH
LOWHIGH
LOWHIGH
Programs & Services info
CDFI
As a Small Business Administration (SBA) preferred lender and a U.S. Treasury certified Community Development Financial Institution (CDFI), Pursuit provides a multitude of ways to creatively distribute responsible capital and resources to underserved small businesses – and these qualifications make it advantageous for banks to work with us to meet Community Reinvestment Act (CRA) requirements.
Targeted Clients info
  • Economically Disadvantaged
  • Entrepreneurs
  • Military
  • Minority Individuals
  • Minority-Owned Businesses
  • Rural Residents
  • Small Businesses
  • Small Farms
  • Tribal Organizations
  • Underbanked or Unbanked
  • Veterans
  • Women
  • Women-Owned Businesses
CRA Income Characteristics info
  • Low-Income
  • Moderate-Income
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
-
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2019 $714,000 CDFI Financial Assistance open_in_new NYBDC Local Development Corporation
2020 $750,000 CDFI Financial Assistance open_in_new NYBDC Local Development Corporation
2021 $1,826,265 CDFI Rapid Response Program (COVID-19) open_in_new NYBDC Local Development Corporation

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$46.5M
Revenue
$12.3M
Assets
$12.3M

IRS Business Master File Details info

As of March 2025
Exempt Ruling Date info
2009-10
Deductibility Status info
Deductible
Last Tax Filing info
2023
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization normally receives no more than one-third of support from gross investment and unrelated business income and at same time more than one-third of its support from contributions, fees and gross receipts related to exempt purposes 509(a)(2)

IRS Publication 78 Details info

As of March 2025
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through December 2024
Tax period ending in
2023-09
PDF
990
E-File
990
XML
990
Tax period ending in
2022-09
E-File
990
XML
990
Tax period ending in
2021-09
E-File
990
XML
990
Tax period ending in
2020-09
PDF
990
E-File
990
XML
990
Tax period ending in
2019-09
PDF
990
E-File
990
XML
990
Tax period ending in
2018-09
PDF
990
E-File
990
XML
990
Tax period ending in
2017-09
E-File
990
XML
990
Tax period ending in
2016-09
E-File
990
XML
990

Nonprofit Location

Physical Address info
50 BEAVER STREET
ALBANY, NY 12207
Albany County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
10580
MSA/MD info
36
State info
001
County info
0011.00
Tract info
Unknown
Income Level info
Core-Based Statistical Area info
10580 - Albany-Schenectady-Troy, NY
Combined Statistical Area info
104 - Albany-Schenectady, NY
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 52.08%
FFIEC Distressed Census Tract info
FFIEC Underserved Census Tract info
Geographies Served info
  • CT - All Counties
  • NJ - All Counties
  • NY - All Counties
  • PA - All Counties

Market Data

Census Tract County
0011.00 Albany County
Population
Total Population 1,826 315,374
Total Households 979 132,728
Income
Median Income* $0 $83,149
Median Family Income (2024 FFIEC est.) $117,800 $113,300
Tract Income Percentage 0% N/A
Below Poverty Level 33.3% 12.9%
Unemployment Level 4.4% 5.2%
Housing
Total Housing Units 1,119 146,959
Total Owner-Occupied Units 6.7% 56.7%
Total Renter-Occupied Units 80.8% 43.3%
Total Vacant Units 12.5% 5.5%
* Census Tract Median Income based on 2020 Tract Median Family Income as reported in the 2024 FFIEC Census Flat File. County Income based on Median Household Income as reported in the 2023 American Community Survey.
View more than 200 performance context data points for this county now.

Management

11
Total Voting Members
in Governing Body info
10
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Owen Burns
(518) 463-2268
Principal Officer info
Not reported by nonprofit.
findCRA Profile Owner
Chris Levy
President & CEO
mohara@pursuitlending.com
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2022-09.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.