Holly City Development Corporation
- Assets
- $1.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Millville, NJ
- Founding
- 02/1999
- Data as of
- 09/2022
- EIN
- 22-3614788
Organization Overview
Holly City Development Corporation is located in Millville, NJ. The organization was established in 1999. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2022, Holly City Development Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holly City Development 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 09/2022, Holly City Development Corporation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Holly City Development Corporation has awarded 22 individual grants totaling $241,290. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONTINUOUS COMMUNITY RENEWAL THROUGH THE AREAS OF: DEVELOPMENT AND REDEVELOPMENT OF REAL ESTATE; HOUSING CONSTRUCTION, REHABILITATION AND FINANCING; COMMUNITY BUILDING AND RESIDENT ENGAGEMENT AND ECONOMOIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSIST IN THE REDEVELOPMENT OF CENTER-CITY MILLVILLE TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF THE CITY OF MILLVILLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Parent Board Chair | OfficerTrustee | 0.5 | $0 |
Larry Miller Trustee | OfficerTrustee | 0.5 | $0 |
Paula Ring Secretary | OfficerTrustee | 0.5 | $0 |
Curtis Zimmerman Trustee | OfficerTrustee | 0.5 | $0 |
John Knoop Vice Chair | Trustee | 0.5 | $0 |
Michael Depalma Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $863,905 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,565 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,065,470 |
| Total Program Service Revenue | $119,821 |
| Investment income | $49 |
| 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 | $1,185,340 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $18,385 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $130,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,908 |
| Payroll taxes | $8,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,805 |
| 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 | $28,691 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,460 |
| Travel | $2,936 |
| 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 | $22,390 |
| Insurance | $11,511 |
| All other expenses | $20,962 |
| Total functional expenses | $1,077,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,046,210 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,000 |
| 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 | $1,573 |
| Net Land, buildings, and equipment | $735,310 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,803,093 |
| Accounts payable and accrued expenses | $365,229 |
| 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 | $150,000 |
| Other liabilities | $1,475 |
| Total liabilities | $516,704 |
| Net assets without donor restrictions | $1,108,177 |
| Net assets with donor restrictions | $178,212 |
| 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 | $1,803,093 |
Grants Awarded
Over the last fiscal year, Holly City Development Corporation has awarded $241,290 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Millville, NJ PURPOSE: UTILITY PAYMENTS DURING COVID | $20,000 |
EL GUACAMOLE RESTAURANT PURPOSE: UTILITY PAYMENTS DURING COVID | $20,000 |
OLD OAR HOUSE IRISH PUB PURPOSE: UTILITY PAYMENTS DURING COVID | $15,000 |
Vineland, NJ PURPOSE: DISTRIBUTE FOOD TO NEEDY FAMILIES | $10,600 |
DEMCO SCIENTIFIC GLASSWARE PURPOSE: UTILITY PAYMENTS DURING COVID | $10,000 |
BJ ROASTERS PURPOSE: UTILITY PAYMENTS DURING COVID | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Holly City Development Corporation has recieved totaling $17,539.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $15,000 |
Oceanfirst Foundation Toms River, NJ PURPOSE: GENERAL OPERATING/FLEXIBLE SUPPORT | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $39 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
Alfa Development Inc Newfoundland, NJ | $12,469,438 | $16,200,874 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Community Action Agency Of Delaware County Inc Boothwyn, PA | $15,976,339 | $8,682,122 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |