ANNUAL MEMBERSHIP YEAR October 1 to September 30
|
INVOICING & PAYMENT
|
New Members
|
Renewing Members
|
- Membership applications are accepted at any time prior to or during the annual membership year.
- Payment is due within 90 days from date of application
- Membership Dues rate prorated monthly based on month joining for New Company Members only**
- Non-Payment of membership dues within 90 days of membership application for New Members results in the revocation of membership status and benefits
|
- Invoices for Annual Membership Renewal Dues are issued in August
- Payment must be made by December 31 allowing for a 90-day grace period
- Non-Payment of membership dues by December 31 will results in the revocation of membership status and benefits
- Note: Should a member renew membership for the current program year after the 90 day grace period and was proven a beneficiary of services during grace period, renewal at the full annual membership fee is required
|
MEMBERSHIP TYPES & RATES
|
1) Standard Rate (Large Corporations)
|
$5,000
|
2) Minority or Woman Owned Business Enterprise (M/WBE) NYS or NYC Certified
- Must meet NYS or NYC MWBE Certification Criteria
- Within 90 days of application, must provide documentation of NYS or NYC MWBE certification
|
$3,000
|
NYS criteria for M/WBE Certification: http://esd.ny.gov/MWBE/Qualifications.html
- All firms seeking MBE, WBE or MWBE certification must be owned, operated and controlled by minority members and/or women
- Ownership must be real, substantial and continuing, and the minority members and/or women must exercise the authority to independently control the day-to-day business decisions
- Each minority or woman who has an ownership interest in the firm must have a net worth which does not exceed 3.5 million dollars. This calculation should not include the ownership interest in the applicant firm, the primary residence of the owner(s), and $500 thousand of present cash value of any qualified retirement savings plan, or individual retirement account held by the individual less any penalties for early withdrawal
- Firm cannot exceed 300 employees; must operate independently of other firms; and, in general must be in operation for at least one year
|
NYC Criteria for M/WBE Certification: https://www1.nyc.gov/nycbusiness/description/minority-and-womenowned-business-enterprise-certification-program-mwbe
- A Sole Proprietorship, General Partnership, Limited Partnership, Limited Liability Partnership, Limited Liability Company or Corporation. Not-for-Profits are ineligible
- Authorized to do business in New York State
- At least 51% owned, controlled and operated by US citizen(s) or permanent resident(s) who is/are member(s) of a designated minority group(s) including Black, Hispanic, Asian Pacific, and Asian-Indian OR a woman or women
- An eligible business also must have been selling products or services for a period of at least one year prior to the date of application
- An eligible business also must have a real and substantial presence in the geographic market of New York City, which includes the five boroughs of New York City and the following counties: Nassau, Putnam, Rockland, Suffolk, and Westchester in New York, and Bergen, Hudson, and Passaic in New Jersey. Businesses located outside of New York City must have a significant tie to the City’s business community (e.g. have derived 25% or more of gross receipts from business conducted in the City, possess a license issued by the City, etc.
|
3) Non-Profit Entities
- Proof of nonprofit status must be submitted by private nonprofit organizations within 90 days of submitting application. For discounts for Small or Start-Up Non-Profits, see below under Small Business or Start-Up designation
|
$3,000
|
Any of the following is acceptable evidence of nonprofit status; must provide 1:
- a reference to the applicant organization’s listing in the Internal Revenue Service’s (IRS) most recent list of tax-exempt organizations described in section 501(c)(3) of the IRS Code;
- a copy of a currently valid IRS tax exemption certificate;
- a statement from a State taxing body, State Attorney General, or other appropriate State Official certifying that the applicant organization has a nonprofit status and that none of the net earnings accrue to any private shareholders or individuals;
- a certified copy of the organization’s certificate of incorporation or similar document that clearly establishes nonprofit status;
- any of the above proof for a State or national parent organization and a statement signed by the parent organization that the applicant organization is a local nonprofit affiliate
|
4) Service-Disabled Veteran-Owned Business (SDVOB) NYS Certified
- Must meet NYS Service Disabled Veteran-Owned Business Certification Criteria
- Within 90 days of application, must provide documentation of SDVOB certification
|
$3,000
|
NYS Criteria for Service-Disabled Veteran-Owned Business NYS Certified: http://www.ogs.ny.gov/Core/SDVOBA.asp
- The business enterprise must be independently owned and operated and have a significant business presence in New York State;
- One or more service-disabled veterans with a service-connected disability rating of 10% or greater from the Department of Veterans Affairs (or from the NYS Division of Veterans Affairs for National Guard veterans) must own at least 51% of the business enterprise;
- Service-disabled veteran ownership must be real, substantial, and continuing;
- The service-disabled veteran ownership must have and exercise the independent authority to control the day-to-day business decisions of the business enterprise;
- The business enterprise must have no more than 300 employees and must have conducted business for, generally, at least one year prior to the application date
|
5) Small Business NYS Certified and Small Non-Profit Entities
- Must meet NYS Small Business Certification Criteria and if Non-Profit must also provide one of the forms of proof of status indicated above
- Within 90 days of application, must provide a letter on corporate letterhead, documenting how the corporation meets the Small Business Certification criteria, along with membership payment
|
$2,000
|
NYS criteria for Small Business Designation, as defined in NYS Economic Development Law Section 131: 1) Must be reside in New York State; 2) independently owned and operated; 3) Not dominant in its field; and, 4) Employs fewer than 100 persons
|
6) Start-Up Business Enterprise
- Must be incorporated for less than three years
- Must have fewer than 10 employees
|
$1,000 For the first ITCR program year
$2,000 Thereafter (elevated to Small Business Entity)
|