Greater Jamaica Development Corp
- Assets
- $43.4m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 33
- Location
- Jamaica, NY
- Founding
- 10/1994
- Data as of
- 12/2021
- EIN
- 23-7021273
Organization Overview
Greater Jamaica Development Corp is located in Jamaica, NY. The organization was established in 1994. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Jamaica Development Corp employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Jamaica Development 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 12/2021, Greater Jamaica Development Corp generated $8.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $8.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Greater Jamaica Development Corp has awarded 15 individual grants totaling $280,800. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hope Knight President & CEO (outgoing) | Officer | 31.9 | $357,930 |
Justin Rodgers President & CEO | Officer | 31.9 | $200,545 |
Blondel Pinnock Chief Of Staff | Officer | 30.9 | $195,942 |
Todd S Benenson Assistant Treasurer & CFO | Officer | 30.9 | $172,143 |
Mitchell Sternbach Dir. Resource Development | 35 | $126,054 | |
Aron Kurlander Dir. Business Services | 30 | $119,885 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marks Paneth Llp Audit Services | 12/30/19 | $128,846 |
Regional Plan Association Consulting Services | 12/30/19 | $102,505 |
Sentinel Management Group Inc Security Services | 12/30/19 | $355,039 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,234,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $427,229 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,662,127 |
| Total Program Service Revenue | $5,732,235 |
| Investment income | $99,544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $674,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,397,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,500 |
| 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. | $1,211,966 |
| Compensation of current officers, directors, key employees. | $550,943 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,243,521 |
| Pension plan accruals and contributions | $97,258 |
| Other employee benefits | $143,650 |
| Payroll taxes | $181,255 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,385 |
| Fees for services: Accounting | $142,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,038 |
| Fees for services: Other | $141,501 |
| Advertising and promotion | $9,181 |
| Office expenses | $184,994 |
| Information technology | $1,890 |
| Royalties | $0 |
| Occupancy | $1,707,574 |
| Travel | $1,818 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,921 |
| Interest | $241,975 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $769,790 |
| Insurance | $575,051 |
| All other expenses | $38,215 |
| Total functional expenses | $8,667,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,804,247 |
| Savings and temporary cash investments | $103,588 |
| Pledges and grants receivable | $160,147 |
| Accounts receivable, net | $1,306,941 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,267,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $699,833 |
| Net Land, buildings, and equipment | $13,708,883 |
| Investments—publicly traded securities | $7,283,187 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,082,348 |
| Total assets | $43,416,674 |
| Accounts payable and accrued expenses | $1,807,575 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,716,498 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,917,053 |
| Unsecured mortgages and notes payable | $5,815,000 |
| Other liabilities | $1,200,909 |
| Total liabilities | $16,457,035 |
| Net assets without donor restrictions | $26,859,639 |
| Net assets with donor restrictions | $100,000 |
| 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 | $43,416,674 |
Grants Awarded
Over the last fiscal year, Greater Jamaica Development Corp has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Jamaica, NY PURPOSE: ANNUAL CONTRIBUTION | $60,000 |
Jamaica, NY PURPOSE: TARGETED STUDENT SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Jamaica Development Corp has recieved totaling $0.
| Awarding Organization | Amount |
|---|---|
New York Building Foundation Inc New York, NY | | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |
Pittsburgh Downtown Partnership Pittsburgh, PA | $5,197,454 | $6,457,703 |
Grow America Fund Inc Brooklyn, NY | $143,748,091 | $12,181,976 |