Margate Terrace Corporation

Organization Overview

Margate Terrace Corporation is located in Margate, NJ. The organization was established in 1987. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Margate Terrace 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 06/2022, Margate Terrace Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2022

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE DECENT, AFFORDABLE HOUSING FOR LOW-INCOME ELDERLY AND DISABLED ON A NON-PROFIT BASIS.


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $102
Dividends & Interest $0
Net Rental Income$82,709
Net Gain on Sale of Assets $0
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $1,494,574

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