Underground Development Foundation
- Assets
- $5.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/2012
- Data as of
- 12/2022
- EIN
- 27-5125988
Organization Overview
Underground Development Foundation is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Underground Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO TRANSFORM AN ABANDONED NYC TROLLEY TERMINAL INTO A VIBRANT GREEN SPACE USING SOLAR TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH EDUCATION - PROGRAMS DESIGNED TO PREPARE YOUNG PEOPLE FOR CAREERS AND EDUCATIONAL PATHS IN SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATHEMATICS RELATED FIELDS THROUGH INNOVATIVE YOUTH MENTORSHIP AND JOB TRAINING OPPORTUNITIES, SUCH AS PUBLIC EXHIBITS AND WORKSHOPS.
RESEARCH AND DESIGN - EXPENSES INCURRED TO GATHER AND ANALYZE DISTRICT-WIDE COMMUNITY NEEDS AND STUDY AREA DATA AND TO RESEARCH BEST PRACTICES FOR PUBLIC SPACE DESIGN AND INNOVATIVE ECONOMIC DEVELOPMENT. THE GOAL IS TO PROVIDE A CONSISTENT FORUM FOR OPEN COMMUNITY FEEDBACK AND TO DEVELOP A COMMUNITY-CENTERED VISION WITH A DIVERSE GROUP OF COMMUNITY RESIDENTS AND STAKEHOLDERS. ADDITIONALLY, THE ORGANIZATION CONDUCTS TECHNICAL RESEARCH AND CONCEPTUAL DESIGN TO ACCESS THE VIABILITY OF BOTH THE TROLLEY TERMINAL'S REMEDIATION AND TRANSFORMATION AND THE SOLAR TECHNOLOGY BEHIND THE LOWLINE EFFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Barry Co-Chairman | Trustee | 1 | $0 |
James Ramsey Director | Trustee | 0.5 | $0 |
Jolie Hunt-Potter Director | Trustee | 0.5 | $0 |
Joshua Sirefman Co-Chairman | Trustee | 1 | $0 |
Marquise Stillwell Vice Chair | Trustee | 1 | $0 |
Paul Hoffman Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,075 |
| Advertising and promotion | $300 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,006 |
| Insurance | $0 |
| All other expenses | $1 |
| Total functional expenses | $6,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,597 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,628 |
| Accounts payable and accrued expenses | $2,800 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,800 |
| Net assets without donor restrictions | $2,828 |
| 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 | $5,628 |