Codman Square Neighborhood Development Corporation
- Assets
- $49.5m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 35
- Location
- Dorchester, MA
- Founding
- 05/1982
- Data as of
- 12/2021
- EIN
- 04-2752507
Organization Overview
Codman Square Neighborhood Development Corporation is located in Dorchester, MA. The organization was established in 1982. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Codman Square Neighborhood Development Corporation employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Codman Square Neighborhood Development Corporation 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 12/2021, Codman Square Neighborhood Development Corporation generated $9.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $9.5m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AFFORDABLE HOUSING AND GENERATE NEIGHBORHOOD STABILIZATION AND ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET MANAGEMENT IS THE OWNERSHIP AND MANAGEMENT OF PROPERTIES CSNDC HAS DEVELOPED IN THE PAST. THESE EFFORTS ARE AIMED AT ENSURING THAT THE PROPERTIES MEET THE NEEDS OF THEIR LOW TO MODERATE INCOME RESIDENTS AS WELL AS MAINTAINING THE FINANCIAL VIABILITY OF THESE PROPERTIES IN THE FUTURE.
REAL ESTATE DEVELOPMENT - DEVELOPMENT INCLUDES CSNDC'S AND ITS SUBSIDIARIES' EFFORTS TO REHABILITATE RESIDENTIAL AND COMMERCIAL PROPERTIES IN THE CODMAN SQUARE NEIGHBORHOOD.
RESIDENT SERVICES - RESIDENT SERVICES PROVIDES SOCIAL SERVICES FOR RESIDENTS OF THE PROPERTIES WHICH CSNDC HAS DEVELOPED AS WELL AS PROVIDING FOR THE INVOLVEMENT OF THESE RESIDENTS IN VARIOUS COMMUNITY DEVELOPMENT AND YOUTH PROGRAMS.
MANAGED AFFORDABLE HOUSING DEVELOPMENTS TO ENSURE THE NEEDS OF THE RESIDENTS WERE MET AS WELL AS PRESERVING THE FINACIAL VIABILITY OF THE DEVELOPMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gail Latimore Executive Director | Officer | 40 | $180,000 |
Marcia Thornhill Chief Operating Officer | 40 | $140,000 | |
Dominica Man Director Of Real Estate De | 40 | $128,000 | |
Fuk Wah Vincent Lo Director Of Finance | Officer | 40 | $116,500 |
Coleen Walker Treasurer | OfficerTrustee | 5 | $0 |
Rudolph Russell Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,846,671 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,249,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,095,975 |
| Total Program Service Revenue | $3,856,277 |
| Investment income | $195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,221,133 |
| 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. | $492,435 |
| Compensation of current officers, directors, key employees. | $147,259 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,786,584 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $323,324 |
| Payroll taxes | $186,521 |
| Fees for services: Management | $132,815 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $99,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $67,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $744,520 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,416 |
| Interest | $398,020 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $897,478 |
| Insurance | $152,106 |
| All other expenses | $4,489 |
| Total functional expenses | $9,482,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,476,850 |
| Savings and temporary cash investments | $1,698,111 |
| Pledges and grants receivable | $209,534 |
| Accounts receivable, net | $550,097 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,160 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,534 |
| Net Land, buildings, and equipment | $7,961,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,796,925 |
| Intangible assets | $0 |
| Other assets | $19,776,592 |
| Total assets | $49,534,179 |
| Accounts payable and accrued expenses | $809,315 |
| Grants payable | $0 |
| Deferred revenue | $18,063 |
| 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 | $10,770,071 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $669,065 |
| Total liabilities | $12,266,514 |
| Net assets without donor restrictions | $37,267,665 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,534,179 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Codman Square Neighborhood Development Corporation has recieved totaling $334,031.
| Awarding Organization | Amount |
|---|---|
Barr Foundation Boston, MA PURPOSE: CLIMATE: TO SUPPORT COMMUNITY LEADERSHIP ON CLIMATE AND RACIAL JUSTICE IN CODMAN SQUARE AND SOUTH DORCHESTER | $100,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $64,633 |
Neighborhood Risk Management Corporation New York, NY PURPOSE: DISTRIBUTION TO ORGANIZATION | $64,398 |
Philanthropy Massachusetts Inc Boston, MA PURPOSE: FOR OPERATING AND PROGRAM SUPPORT. | $30,000 |
Mystic River Watershed Association Inc Arlington, MA PURPOSE: HEAT CONVENING | $30,000 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $30,000 |
Endowment Analysis
| Beg. Balance | $500,000 |
| Ending Balance | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Community Action Agency Of New Haven Inc New Haven, CT | $523,093 | $14,060,753 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |
Cypress Hills Local Development Corporation Inc Brooklyn, NY | $20,394,898 | $16,091,549 |