Newmarket Community Development Corp
- Assets
- $852.2k
- Revenue
- $49.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Newmarket, NH
- Founding
- 08/1984
- Data as of
- 12/2018
- EIN
- 02-0370974
Organization Overview
Newmarket Community Development Corp is located in Newmarket, NH. The organization was established in 1984. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newmarket Community Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2018, Newmarket Community Development Corp generated $49.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $32.3k during the year ending 12/2018. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE GROWTH AND PROSPERITY OF THE TOWN OF NEWMARKET, NH
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPLORATION OF ACQUISITION OF PROMINENT PROPERTY IN DOWNTOWN NEWMARKET FOR THE PURPOSE OF PROVIDING MUCH NEEDED PARKING AND MIXED-USE SPACE CONSISTENT WITH NCDC'S MISSION. NEGOTIATIONS WITH DEVELOPERS AND OBTAINING TOWN APROVALS FOR PROPOSED DEVELOPMENTS. CAPITALIZED COSTS OF $1480 UNTIL DETERMINED IF PROJECT IS VIABLE.
ONGOING OWNERSHIP AND MAINTENANCE OF PROPERTY THAT IS HELD FOR DEVELOPMENT CONSISTENT WITH NCDC'S MISSION. ONGOING SUPPORT OF LACA'S DEVELOPMENT OF THE "NEWMARKET MILLSPACE", CIVIC SPACE SPECIFIED IN THE SALES AGREEMENT WITH THE DEVELOPER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leo Fillion Vice President | Officer | 0 | $0 |
Nancy Kathan Treasurer | Officer | 0 | $0 |
John Herman Secretary | Officer | 0 | $0 |
Jay Dugal President | Officer | 0 | $0 |
Steve Minutelli Board Member | Trustee | 0 | $0 |
Steve Fournier Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,500 |
| Investment income | $15,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,154 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,933 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,691 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $75 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,250 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,172 |
| Insurance | $2,380 |
| All other expenses | $168 |
| Total functional expenses | $32,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,229 |
| Savings and temporary cash investments | $75,027 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,480 |
| Net Land, buildings, and equipment | $117,939 |
| Investments—publicly traded securities | $421,508 |
| Investments—other securities | $0 |
| Investments—program-related | $200,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $852,183 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $852,183 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $852,183 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
Monadnock Economic Development Corporation Keene, NH | $44,564,780 | $2,525,403 |
Worcester Business Development Corporation Worcester, MA | $18,366,111 | $1,969,639 |
Brewery Development Co Of Jamaica Plain Jamaica Plain, MA | $15,925,707 | $3,916,068 |
Sunrise County Economic Council Machias, ME | $3,070,902 | $3,332,067 |
Northern Community Investment Corp St Johnsbury, VT | $17,776,781 | $1,513,182 |
Dudley Street Neighborhood Initiative Inc Roxbury, MA | $1,937,118 | $1,598,993 |
Randolph Area Community Development Corporation Randolph, VT | $5,201,775 | $1,051,354 |
Rutland Economic Development Corporation Rutland, VT | $2,538,435 | $1,109,239 |
Beyond Walls Inc Lynn, MA | $542,232 | $900,900 |
Brightwood Development Corp Springfield, MA | $1,990,844 | $196,076 |
Boston Local Development Corp Boston, MA | $6,000,512 | $895,678 |