Federal Hill Commerce Association Inc
- Assets
- $38.0k
- Revenue
- $360.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 03/1999
- Data as of
- 12/2021
- EIN
- 06-1482194
Organization Overview
Federal Hill Commerce Association Inc is located in Providence, RI. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Federal Hill Commerce Association Inc 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, Federal Hill Commerce Association Inc generated $360.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 34.1% each year . All expenses for the organization totaled $341.4k during the year ending 12/2021. While expenses have increased by 32.9% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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 FOSTER DEVELOPMENT, PROMOTION AND IMPROVEMENTS OF THE AREAS DESIGNATED WITHIN ITS JURISDICATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING, FOSTERING DEVELOPMENT, AND IMPROVING THE FEDERAL HILL AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Zorabedian Vice Chairman | OfficerTrustee | 1 | $0 |
Chris Chabot Secretary | OfficerTrustee | 1 | $0 |
Armando Bisceglia Chairman | OfficerTrustee | 1 | $0 |
Robert D'amico Treasurer | OfficerTrustee | 1 | $0 |
Rick Simone President | OfficerTrustee | 1 | $0 |
Clara Borges Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,950 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $159,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,375 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,125 |
| Total Program Service Revenue | $184,342 |
| Investment income | $0 |
| 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 | $360,467 |
| 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. | $45,822 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,591 |
| Office expenses | $1,204 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $3,389 |
| All other expenses | $75,353 |
| Total functional expenses | $341,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,539 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $38,039 |
| 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 | $45,400 |
| Total liabilities | $45,400 |
| Net assets without donor restrictions | -$7,361 |
| 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 | $38,039 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Federal Hill Commerce Association Inc has recieved totaling $9,500.
| Awarding Organization | Amount |
|---|---|
The Cianci Educational Foundation Warwick, RI PURPOSE: ECONOMIC GROWTH | $9,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quincy Community Action Programs Inc Quincy, MA | $14,865,186 | $43,148,267 |
Community Action Pioneer Valley Inc Greenfield, MA | $7,969,732 | $29,838,934 |
Citizens For Citizens Inc Fall River, MA | $12,279,316 | $29,399,731 |
South Shore Community Action Council Inc Plymouth, MA | $12,504,709 | $24,231,175 |
Community Health Programs Inc Great Barrington, MA | $12,016,814 | $22,279,399 |
Veterans Inc Worcester, MA | $18,236,837 | $18,440,204 |
Community Action Agency Of New Haven Inc New Haven, CT | $523,093 | $14,060,753 |
Community Action Partnership Of Providence Providence, RI | $2,565,528 | $11,658,735 |
Codman Square Neighborhood Development Corporation Dorchester, MA | $49,534,179 | $9,221,133 |
Blackstone Valley Community Action Program Inc Pawtucket, RI | $2,776,542 | $8,877,966 |
Urban Edge Housing Corp Roxbury, MA | $48,065,772 | $13,249,471 |
Jamaica Plain Neighborhood Development Corporation Jamaica Plain, MA | $42,347,137 | $8,553,419 |