Mosaico Business & Community Development Corporation
- Assets
- $3.4m
- Revenue
- $602.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Bristol, RI
- Founding
- 09/2011
- Data as of
- 12/2017
- EIN
- 27-3089703
Organization Overview
Mosaico Business & Community Development Corporation is located in Bristol, RI. The organization was established in 2011. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2017, Mosaico Business & Community Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mosaico Business & Community 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 12/2017, Mosaico Business & Community Development Corporation generated $602.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $572.4k during the year ending 12/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY PURPOSE OWNERSHIP, MANAGEMENT, AND DEVELOPMENT OF REAL ESTATE. TO REHABILITATE AND EXECUTE LONG-TERM MANAGEMENT OF THE HISTORIC SITE KNOWN AS THE BRISTOL INDUSTRIAL PARK. THE GOALS OF THE ORGANIZATION ARE TO REHABILITATE THE PROPERTY IN CONSIDERATION OF ITS HISTORIC CHARACTER AND ECONOMIC DEVELOPMENT POTENTIAL TO THE REGION. TO PERFORM REHABILITION OF BRISTOL INDUSTRIAL PARK FOR USE BY LOCAL BUSINESSES TO HELP BRING JOBS TO THE AREA AND IMPROVE THE COMMUNITY AND NEIGHBORHOD THE PARK BOARDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NECESSARY REMEDIATION AND RENOVATIONS IN ORDER TO HAVE THE PROPERTY REMOVED FROM THE BLIGHTED LIST, TO OFFER COMPETITIVELY-PRICED, ATTRACTIVE INDUSTRIAL, BUSINESS, AND COMMERCIAL SPACE, AND TO PROVIDE ADVISORY AND CONSULTING SERVICES TO ASSIST WITH ECOMONIC DEVELOPMENT IN A SEVERELY DEPRESSED NEIGHBORHOOD WHERE LOW TO MODERATE INCOME INDIVIDUALS PREDOMINATE.
OTHER MANAGEMENT AND DEVELOPMENT OF BRISTOL INDUSTRIAL PARK REAL ESTATE PROJECTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana Campbell Executive Di | OfficerTrustee | 30 | $26,985 |
George Lima Vice Preside | OfficerTrustee | 3 | $0 |
Charles F Garcia Treasurer | OfficerTrustee | 3 | $0 |
Lynn Creighton Director | OfficerTrustee | 3 | $0 |
Tina Reagan Secretary | OfficerTrustee | 3 | $0 |
Kevin Jordan Director | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $270,980 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,867 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,847 |
| Total Program Service Revenue | $0 |
| Investment income | $184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $317,497 |
| 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 | $602,528 |
| 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. | $26,985 |
| Compensation of current officers, directors, key employees. | $5,397 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $119,826 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,689 |
| Information technology | $182 |
| Royalties | $0 |
| Occupancy | $4,411 |
| Travel | $532 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $400 |
| Interest | $84,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,695 |
| Insurance | $63,082 |
| All other expenses | $4,150 |
| Total functional expenses | $572,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,054 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,454 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,344,204 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,411,712 |
| Accounts payable and accrued expenses | $205,663 |
| 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 | $2,010,773 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $614,190 |
| Total liabilities | $2,830,626 |
| Unrestricted restricted net Assets | $581,086 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $581,086 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
Hedco Inc Hartford, CT | $31,561,156 | $3,183,026 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Economic Development Corporation Of New Haven New Haven, CT | $1,820,406 | $2,800,912 |
Windham Regional Community Council Inc Willimantic, CT | $1,698,672 | $3,029,839 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Waterbury Development Corporation Waterbury, CT | $8,604,069 | $2,421,027 |