Greater Jamaica Development Corp
- Assets
- $38.8m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 39
- Location
- Jamaica, NY
- Founding
- 10/1994
- Data as of
- 12/2022
- 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 12/2022, Greater Jamaica Development Corp employed 39 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 12/2022, Greater Jamaica Development Corp generated $7.6m 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 $9.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Greater Jamaica Development Corp has awarded 17 individual grants totaling $330,800. 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
2022
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 |
|---|---|---|---|
Arthur Benjamin Jr Treasurer | OfficerTrustee | 1 | $0 |
Calvin Lawrence Jr Secretary | OfficerTrustee | 1 | $0 |
Cedric Dew Board Member | Trustee | 1 | $0 |
Daniel Greene Board Member | Trustee | 1 | $0 |
David Cotton Board Member | Trustee | 1 | $0 |
Dr Berenecea Johnson Eanes Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sentinel Management Group Inc Security System | 12/30/22 | $211,575 |
Security By Design Security System | 12/30/22 | $115,614 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $366,718 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $544,005 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $910,723 |
| Total Program Service Revenue | $6,832,617 |
| Investment income | $179,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$398,417 |
| Net Income from Fundraising Events | -$47,716 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,601,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $95,750 |
| 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. | $819,615 |
| Compensation of current officers, directors, key employees. | $633,862 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,629,357 |
| Pension plan accruals and contributions | $142,863 |
| Other employee benefits | $163,348 |
| Payroll taxes | $200,557 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,980 |
| Fees for services: Accounting | $97,634 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,517 |
| Fees for services: Other | $290,683 |
| Advertising and promotion | $11,378 |
| Office expenses | $211,591 |
| Information technology | $58,236 |
| Royalties | $0 |
| Occupancy | $2,020,811 |
| Travel | $24,415 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,480 |
| Interest | $473,583 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $765,624 |
| Insurance | $669,206 |
| All other expenses | $64,693 |
| Total functional expenses | $9,823,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,098,775 |
| Savings and temporary cash investments | $64,304 |
| Pledges and grants receivable | $159,939 |
| Accounts receivable, net | $1,314,583 |
| 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 | $779,208 |
| Net Land, buildings, and equipment | $13,438,648 |
| Investments—publicly traded securities | $5,932,890 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,695,220 |
| Total assets | $38,751,067 |
| Accounts payable and accrued expenses | $1,719,166 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,401,341 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,806,059 |
| Unsecured mortgages and notes payable | $4,535,000 |
| Other liabilities | $1,711,453 |
| Total liabilities | $15,173,019 |
| Net assets without donor restrictions | $23,578,048 |
| 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 | $38,751,067 |
Grants Awarded
Over the last fiscal year, Greater Jamaica Development Corp has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GREATER JAMAICA LOCAL DEVELOPMENT CO PURPOSE: ANNUAL CONTRIBUTION | $25,000 |
REGIONAL PLAN ASSOCIATION PURPOSE: WALKATHON AND HEALTH FAIR | $25,000 |