Atlantic Arms Development Corporation
- Assets
- $329.8k
- Revenue
- $16.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Hackensack, NJ
- Founding
- 12/2013
- Data as of
- 05/2022
- EIN
- 45-1093319
Organization Overview
Atlantic Arms Development Corporation is located in Hackensack, NJ. The organization was established in 2013. 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. Atlantic Arms 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 05/2022, Atlantic Arms Development Corporation generated $16.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $64.4k during the year ending 05/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AFFORDABLE HOUSING FOR RESIDENTS OF BERGEN COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edith Scott Vice President | OfficerTrustee | 0 | $0 |
Joanne Wynne Treasurer | OfficerTrustee | 0 | $0 |
Jimmie Miller President | OfficerTrustee | 10 | $0 |
Rosalyn Holland Recording Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $8 |
| Related organizations | $0 |
| Government grants | $9,000 |
| 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 | $9,008 |
| Total Program Service Revenue | $7,800 |
| 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 | $16,808 |
| 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 | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,465 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,005 |
| 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 | $20,202 |
| Depreciation, depletion, and amortization | $18,104 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $64,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,120 |
| 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 | $316,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,000 |
| Total assets | $329,805 |
| Accounts payable and accrued expenses | $0 |
| 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 | $79,291 |
| Total liabilities | $79,291 |
| Net assets without donor restrictions | $250,514 |
| 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 | $329,805 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Atlantic Arms Development Corporation has recieved totaling $8,550.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $8,550 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ndc Housing And Economic Development Corporation Brooklyn, NY | $24,571,760 | $10,401,743 |
Habitat For Humanity International Inc Maple Shade, NJ | $11,003,483 | $12,605,455 |
Greater Berks Development Fund Reading, PA | $39,552,158 | $9,719,449 |
Crotona Park West Housing Development Fund Corporation New York, NY | $24,353,081 | $7,261,955 |
Evergreen Estates Housing Development Fund Company Inc New York, NY | $7,286,125 | $3,876,768 |
Bushwick United Housing Development Fund Corporation Brooklyn, NY | $1,708,540 | $8,681,801 |
Settlement Housing Fund Inc New York, NY | $50,728,547 | $11,765,294 |
Habitat For Humanity International Inc Philadelphia, PA | $20,358,278 | $15,243,125 |
Associated Blind Housing Development Fund Inc Suffern, NY | $60,912,247 | $8,378,742 |
Housing Plus Solutions Inc Brooklyn, NY | $3,042,973 | $8,488,252 |
Lgarpa Corp Turtle Creek, PA | $11,929,864 | $9,395,264 |
Neighbors Of Watertown Inc Watertown, NY | $21,338,681 | $8,351,713 |