Richardson Center Corporation
- Assets
- $67.6m
- Revenue
- $970.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Buffalo, NY
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 20-5148995
Organization Overview
Richardson Center Corporation is located in Buffalo, NY. The organization was established in 2007. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Richardson Center Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richardson Center 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, Richardson Center Corporation generated $970.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (31.5%) each year. All expenses for the organization totaled $917.5k 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
THE REHABILITATION OF THE NATIONAL HISTORIC LANDMARK RICHARDSON OLMSTED CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITATE THE REHABILITATION, REDEVELOPMENT AND CONTINUED CONSTRUCTION OF THE NATIONAL HISTORIC LANDMARK RICHARDSON OLMSTED CAMPUS LOCATED IN BUFFALO, NEW YORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Mortenson President | Officer | 24 | $175,000 |
Paul Hojnacki Chairperson | OfficerTrustee | 3 | $0 |
Christopher Greene Secretary | OfficerTrustee | 3 | $0 |
Mark Kercher Treasurer | OfficerTrustee | 1 | $0 |
Paul Ciminelli Vice Chairperson | OfficerTrustee | 1 | $0 |
Tony Bannon Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jameson Roofing Co Inc Roofing | 12/30/19 | $109,058 |
Napier & Sons Inc Landscaping/snow Plowing/grounds Care | 12/30/19 | $103,181 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $439,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $400,909 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $840,659 |
| Total Program Service Revenue | $0 |
| Investment income | $248 |
| 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 | $970,899 |
| 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. | $175,000 |
| Compensation of current officers, directors, key employees. | $43,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,737 |
| Pension plan accruals and contributions | $10,667 |
| Other employee benefits | $0 |
| Payroll taxes | $15,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $368,976 |
| Fees for services: Accounting | $15,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,010 |
| Advertising and promotion | $115 |
| Office expenses | $2,414 |
| Information technology | $4,685 |
| 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 | $763 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,015 |
| Insurance | $56,202 |
| All other expenses | $372 |
| Total functional expenses | $917,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,662 |
| Savings and temporary cash investments | $492,570 |
| Pledges and grants receivable | $4,200 |
| Accounts receivable, net | $314,701 |
| 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 | $11,865 |
| Net Land, buildings, and equipment | $3,219,637 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $63,251,509 |
| Total assets | $67,606,144 |
| Accounts payable and accrued expenses | $1,224,555 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| 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 | $1,234,555 |
| Net assets without donor restrictions | $66,283,807 |
| Net assets with donor restrictions | $87,782 |
| 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 | $67,606,144 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Richardson Center Corporation has recieved totaling $109,111.
| Awarding Organization | Amount |
|---|---|
John R Oishei Foundation Buffalo, NY PURPOSE: RENAISSANCE CAMPAIGN FOR THE RICHARDSON OLMSTED CAMPUS | $50,000 |
Community Foundation For Greater Buffalo Inc Buffalo, NY PURPOSE: UNRESTRICTED USE; LIPSEY ARCHITECTURE CENTER; RECONSTRUCTION OF WESTERN ROADWAY AND SIDEWALK ON CAMPUS | $49,106 |
Edward H Butler Foundation Buffalo, NY PURPOSE: RENAISSANCE CAMPAIGN | $5,000 |
Ferguson Electric Foundation Buffalo, NY PURPOSE: CHARITABLE | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |