Greenpoint Manufacturing And Design Center Local Development Corp Gmdc
- Assets
- $54.9m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Brooklyn, NY
- Founding
- 08/1993
- Data as of
- 12/2021
- EIN
- 11-3132562
Organization Overview
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc is located in Brooklyn, NY. The organization was established in 1993. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greenpoint Manufacturing And Design Center Local Development Corp Gmdc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenpoint Manufacturing And Design Center Local Development Corp Gmdc 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, Greenpoint Manufacturing And Design Center Local Development Corp Gmdc generated $14.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $10.9m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREATES AND SUSTAINS VIABLE MANUFACTURING SECTORS IN URBAN NEIGHBORHOODS.
Describe the Organization's Program Activity:
SMALL BUSINESS SUPPORT:OWN AND MANAGE A PORTFOLIO OF INDUSTRIAL BUILDINGS WHILE PROVIDING ADDITIONAL SERVICES TO SMALL MANUFACTURING BUSINESSES THROUGH THE PROVISION OF HARD TO FIND AFFORDABLE MANUFACTURING SPACE. THE ORGANIZATION'S BUILDINGS CONTINUE TO BE A HAVEN FOR SMALL MANUFACTURERS AND THE QUALITY JOBS THEY CREATE IN URBAN NEIGHBORHOODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian T Coleman CEO | OfficerTrustee | 24 | $352,007 |
Michael Cavagnaro CFO | Officer | 24 | $205,590 |
Cassandra Smith Senior Project Manager | 24 | $168,670 | |
Gustavo Martinez Project Manager | 24 | $116,076 | |
Curtis Biederbeck Facilities Manager | 24 | $115,871 | |
Libby Ryan Vice Chair | OfficerTrustee | 0.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $418,237 |
| 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 | $418,237 |
| Total Program Service Revenue | $3,827,049 |
| Investment income | $264,636 |
| 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 | $14,539,539 |
| 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. | $641,125 |
| Compensation of current officers, directors, key employees. | $224,394 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $558,469 |
| Pension plan accruals and contributions | $26,599 |
| Other employee benefits | $221,680 |
| Payroll taxes | $157,653 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,343 |
| 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 | $180,864 |
| Advertising and promotion | $0 |
| Office expenses | $54,025 |
| Information technology | $34,209 |
| 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 | $1,716,057 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,061,840 |
| Insurance | $249,929 |
| All other expenses | $210,271 |
| Total functional expenses | $10,886,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,508,355 |
| Savings and temporary cash investments | $1,001,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $676,227 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,991,700 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $509,735 |
| Net Land, buildings, and equipment | $24,055,337 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,173,636 |
| Total assets | $54,916,417 |
| Accounts payable and accrued expenses | $244,934 |
| Grants payable | $0 |
| Deferred revenue | $25,439 |
| 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 | $26,629,681 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,196,163 |
| Total liabilities | $31,096,217 |
| Net assets without donor restrictions | $23,820,200 |
| 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 | $54,916,417 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greenpoint Manufacturing And Design Center Local Development Corp Gmdc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Association For Neighborhood & Housing Development Inc New York, NY PURPOSE: UMAF | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Securities Industry And Financial Markets Association Inc New York, NY | $42,827,387 | $47,657,181 |
34th Street Partnership Inc New York, NY | $17,652,180 | $14,359,330 |
Grand Central Partnership Inc New York, NY | $10,906,247 | $13,880,529 |
Pennsylvania Compensation Rating Bureau Philadelphia, PA | $10,444,965 | $13,500,527 |
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Can Do Inc Hazleton, PA | $88,120,031 | $19,938,198 |
York County Economic Alliance York, PA | $4,435,375 | $9,671,986 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
Greater Wilkes-Barre Industrial Fund Inc Wilkesbarre, PA | $1,685,287 | $7,409,722 |
Connstep Inc Hartford, CT | $5,391,864 | $6,270,830 |