Great Oaks Newark Property Corporation
- Assets
- $9.1m
- Revenue
- $573.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/2016
- Data as of
- 12/2021
- EIN
- 47-5680367
Organization Overview
Great Oaks Newark Property Corporation is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Great Oaks Newark Property 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 12/2021, Great Oaks Newark Property Corporation generated $573.9k 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 (4.4%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION WAS FORMED FOR THE PURPOSE OF ASSISTING NOT-FOR-PROFIT CHARTER SCHOOL OPERATORS IN THE FINANCING, REHABILITATION, AND DEVELOPMENT OF A CHARTER FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Umansky President | Officer | 1 | $0 |
Antonio Valla Vice President | Officer | 1 | $0 |
Frank Buccola Secretary/treasurer | Officer | 1 | $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 | $573,841 |
| 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 | $573,876 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,029,485 |
| 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 | $40,234 |
| Fees for services: Legal | $4,450 |
| Fees for services: Accounting | $11,941 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $397,600 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $213,647 |
| Insurance | $7,785 |
| All other expenses | $0 |
| Total functional expenses | $1,721,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,000 |
| Savings and temporary cash investments | $500,268 |
| 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 | $1,563,056 |
| Net Land, buildings, and equipment | $6,910,921 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $50,553 |
| Other assets | $0 |
| Total assets | $9,074,798 |
| Accounts payable and accrued expenses | $760,412 |
| 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 | $7,896,353 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,033 |
| Total liabilities | $8,906,798 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $168,000 |
| Total liabilities and net assets/fund balances | $9,074,798 |
Grants Awarded
Over the last fiscal year, Great Oaks Newark Property Corporation has awarded $1,029,485 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TO SUPPORT CIVIC BUILDERS, INC. IN ITS MISSION TO SUPPORT CHARTER SCHOOLS. | $927,794 |
New York, NY PURPOSE: TO SUPPORT CIVIC BUILDERS, INC. IN ITS MISSION TO SUPPORT CHARTER SCHOOLS. | $101,691 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Great Oaks Newark Property Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Civic Builders Inc New York, NY PURPOSE: GENERAL OPERATING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Center For New York City New York, NY | $125,177,702 | $23,546,233 |
Wellspan Properties Inc York, PA | $178,389,137 | $19,225,192 |
Rebecca Residence Allison Park, PA | $63,370,668 | $20,665,205 |
The Housing Partnership Network Inc Boston, MA | $38,640,476 | $16,875,187 |
Alliance For Behavioral & Developmental Disabilities Ltd Hermitage, PA | $7,380,317 | $14,591,071 |
Building Homes For Heroes Inc Island Park, NY | $15,491,113 | $13,729,241 |
Taconic Innovations Inc Wappingers Falls, NY | $14,026,966 | $12,196,980 |
The Crenulated Company Ltd New York, NY | $9,182,171 | $10,442,755 |
Living Independently Forever Inc Hyannis, MA | $12,273,693 | $10,857,981 |
Civic Builders Inc New York, NY | $87,716,137 | $21,789,241 |
Buffalo Federation Of Neighborhood Centers Inc Buffalo, NY | $8,954,316 | $11,146,328 |
Grand Street Guild East Housing Development Fund Company Inc Garden City, NY | $32,476,672 | $9,886,793 |