Ogontz Avenue Revitalization Corp
- Assets
- $17.0m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Philadelphia, PA
- Founding
- 03/1986
- Data as of
- 06/2021
- EIN
- 22-2483318
Organization Overview
Ogontz Avenue Revitalization Corp is located in Philadelphia, PA. The organization was established in 1986. 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 06/2021, Ogontz Avenue Revitalization Corp employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ogontz Avenue Revitalization 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 06/2021, Ogontz Avenue Revitalization Corp generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $1.8m during the year ending 06/2021. While expenses have increased by 2.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AND STIMULATE SUSTAINABLE ECONOMIC DEVELOPMENT THROUGH INNOVATIVE AND CREATIVE USE OF OUR AVAILABLE RESOURCES WHILE IMPROVING THE QUALITY OF LIFE FOR RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE TAKE A HOLISTIC APPROACH TOWARD COMMUNITY REVITALIZATION, BY FOCUSING ON OUR FIVE PILLARS: BUSINESS & ECONOMIC DEVELOPMENT, HOUSING DEVELOPMENT, COMMUNITY ENGAGEMENT, ARTS & CULTURE AND GREENING SOLUTIONS FOR SUSTAINABLE LIVING! (SEE SCHEDULE O FOR DETAIL).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Lloyd President/ceo - Member | OfficerTrustee | 35 | $253,902 |
Phyllis Benson Secretary - Member | OfficerTrustee | 1 | $0 |
Deason Michael Bennett Treasurer - Member | OfficerTrustee | 1 | $0 |
Dr Mujahid Nyahuma Board Chair - Member | OfficerTrustee | 1 | $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 | $100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100 |
| Total Program Service Revenue | $2,207,244 |
| Investment income | $67 |
| 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 | $2,207,411 |
| 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. | $259,876 |
| Compensation of current officers, directors, key employees. | $83,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,421 |
| Pension plan accruals and contributions | $12,243 |
| Other employee benefits | $4,215 |
| Payroll taxes | $59,010 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,851 |
| Fees for services: Accounting | $55,233 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,500 |
| Advertising and promotion | $1,605 |
| Office expenses | $68,051 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $92,966 |
| Travel | $2,319 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,283 |
| Interest | $353,004 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $540,410 |
| Insurance | $112,660 |
| All other expenses | $0 |
| Total functional expenses | $1,759,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $574,400 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $952 |
| 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 | $41,305 |
| Net Land, buildings, and equipment | $5,527,649 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $384,564 |
| Other assets | $10,451,207 |
| Total assets | $16,980,077 |
| Accounts payable and accrued expenses | $223,161 |
| Grants payable | $0 |
| Deferred revenue | $143,235 |
| 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 | $8,365,928 |
| Unsecured mortgages and notes payable | $80,588 |
| Other liabilities | $325 |
| Total liabilities | $8,813,237 |
| Net assets without donor restrictions | $8,166,840 |
| 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 | $16,980,077 |
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