East Newark Community Urban Re- Development Corporation
- Assets
- $1.3m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Blacklick, OH
- Founding
- 05/1980
- Data as of
- 04/2024
- EIN
- 31-0914172
Organization Overview
East Newark Community Urban Re- Development Corporation is located in Blacklick, OH. The organization was established in 1980. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Newark Community Urban Re- Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 04/2024, East Newark Community Urban Re- Development Corporation generated $1.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.2m during the year ending 04/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE ACCESSIBLE HOUSING TO THE ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES HOUSING FOR ELDERLY AND LOW-INCOME INDIVIDUALS WITH MOBILITY DISABILITIES. OPERATES A 124-UNIT APARTMENT COMPLEX UNDER SEC. 223(A)(7) OF THE NATIONAL HOUSING ACT OF 1959; AS AMENDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel L Hunt President | OfficerTrustee | 1 | $0 |
Joel King Vice-President | OfficerTrustee | 1 | $0 |
Kelton Waller Secretary | OfficerTrustee | 1 | $0 |
Ronald Mitchell Recorder | OfficerTrustee | 1 | $0 |
Jay C Finklea Member | Trustee | 0.5 | $0 |
Stan E Ford Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,094,386 |
| 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 | $1,094,386 |
| Total Program Service Revenue | $253,628 |
| Investment income | $3,458 |
| 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 | $1,372,076 |
| 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 | $70,556 |
| Fees for services: Legal | $1,320 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $39,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,397 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,724 |
| Interest | $181,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,548 |
| Insurance | $128,989 |
| All other expenses | $0 |
| Total functional expenses | $1,189,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,463 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,913 |
| 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 | $91,282 |
| Net Land, buildings, and equipment | $639,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $471,993 |
| Total assets | $1,339,998 |
| Accounts payable and accrued expenses | $181,217 |
| 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 | $4,888,221 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,367,018 |
| Total liabilities | $6,436,456 |
| Net assets without donor restrictions | -$5,096,458 |
| 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 | $1,339,998 |