University Park Development Corporation
- Assets
- $1.4m
- Revenue
- -$619.0
- Investments
- $0.0
- Employees
- 0
- Location
- Fairlawn, OH
- Founding
- 05/2001
- Data as of
- 06/2020
- EIN
- 34-1934402
Organization Overview
University Park Development Corporation, operating under the name University Park Alliance, is located in Fairlawn, OH. The organization was established in 2001. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. University Park Alliance 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPLEMENT A REINVESTMENT STRATEGY IN THE UNIVERSITY PARK NEIGHBORHOOD OF AKRON, OH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UPA ACQUIRES, SECURES AND MAINTAINS PROPERTIES FOR REHABILITATION AND DEVELOPMENT, AND FUNDS COMMUNITY ORGANIZATIONS AND ACTIVITIES AS PART OF ITS PLAN TO IMPLEMENT URBAN DEVELOPMENT FOLLOWING ITS MISSION TO IMPROVE THE QUALITY OF LIFE, STRENGTHEN AND STABILIZE THE NEIGHBORHOOD AND ATTRACT NEW BUSINESS AND RESIDENTS TO UNIVERSITY PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Falatok Treasurer | OfficerTrustee | 1 | $0 |
J Bret Treier Statutory Agent | OfficerTrustee | 1 | $0 |
David W James President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,619 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$619 |
| Statement of Expenses | |
|---|---|
| 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 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 | $1,821 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $415 |
| 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 | $22,877 |
| Insurance | $8,752 |
| All other expenses | $0 |
| Total functional expenses | $34,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $691 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $384,790 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,447,070 |
| Accounts payable and accrued expenses | $350,414 |
| 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 | $1,047,733 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,398,147 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $48,923 |
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