Local non-profit waiting for state money | News
ALBANY -- Peter Young Housing, Industries and Treatment serves more than 5,000 people across New York State, working to fight substance abuse and get people back on their feet.
But now, Father Young is in a financial bind. He has been waiting for more than half a million dollars from state agencies. His non-profit hasn't been paid since March, ever since the state converted to a new vendor system.
"Naturally, we have to meet the payroll deadline and people are anticipating a check on Thursday, so I have to make sure there's money in the bank to release it, so I'm caught in that pickle," said Father Young.
We caught up with Father Young at the Albany Marriott on Wolf Road, where he spoke to the Capital District insurance community and received a check from the group.
He has now had to borrow to pay his vendors and 400+ employees, and worries that other non-profits might be in the same bind.
"We're hanging on by a thread. And when we have this, we don't have any pot of money that we can go to. Certain organizations are well-financed and they have an endowment. We don't really have an endowment. We're just hoping we can get the money in and get it out and get the services to continue."
State Comptroller Tom DiNapoli's office says they have been approving payments on time and the hold-up comes from individual agencies that had been aware of the change-over to the new system for months. The comptroller has long been critical of state agencies' late payments to vendors in general, which he says cost New York taxpayers almost one and half million dollars in interest in 2010.