Trustees Of New Castle Common
- Assets
- $18.5m
- Revenue
- $4.0m
- Investments
- $368.6k
- Employees
- 3
- Location
- New Castle, DE
- Founding
- 07/1962
- Data as of
- 03/2022
- EIN
- 51-0100699
Organization Overview
Trustees Of New Castle Common is located in New Castle, DE. The organization was established in 1962. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 03/2022, Trustees Of New Castle Common employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of New Castle Common 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 03/2022, Trustees Of New Castle Common generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $2.7m during the year ending 03/2022. While expenses have increased by 1.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Trustees Of New Castle Common has awarded 51 individual grants totaling $3,792,709. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND ENHANCE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS FOR THE INHABITANTS AND PRESERVATION OF THE HISTORICAL CITY OF NEW CASTLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred G Gallagher Jr Treasurer | OfficerTrustee | 2.5 | $0 |
Michael J Alfree Sr Secretary | OfficerTrustee | 2.5 | $0 |
Peter J Toner President | OfficerTrustee | 2.5 | $0 |
Thomas A Episcopo Vice President | OfficerTrustee | 2.5 | $0 |
Brenda W Antonio Asst. Treasurer | OfficerTrustee | 2.5 | $0 |
Thomas L Clayton Sr Trustee | Trustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nowlands Associates Inc Building Construction | 3/30/22 | $670,311 |
Antonio Lawn Service Llc Mowing/landscaping | 3/30/22 | $290,602 |
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 | $600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $600 |
| Total Program Service Revenue | $0 |
| Investment income | $214,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,057,946 |
| Net Gain/Loss on Asset Sales | $752,563 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,025,581 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $472,079 |
| Grants and other assistance to domestic individuals. | $57,414 |
| 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 | $71,621 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,183 |
| Fees for services: Accounting | $34,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,235 |
| Fees for services: Other | $8,300 |
| Advertising and promotion | $0 |
| Office expenses | $24,170 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,303,651 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,467 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,973 |
| Insurance | $46,002 |
| All other expenses | $52 |
| Total functional expenses | $2,710,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $336,504 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,996 |
| 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 | $42,889 |
| Net Land, buildings, and equipment | $7,758,338 |
| Investments—publicly traded securities | $9,894,852 |
| Investments—other securities | $368,580 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,463,159 |
| Accounts payable and accrued expenses | $144,700 |
| Grants payable | $0 |
| Deferred revenue | $124,711 |
| 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 | $153,905 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,082,109 |
| Total liabilities | $1,505,425 |
| Net assets without donor restrictions | $7,171,602 |
| Net assets with donor restrictions | $9,786,132 |
| 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 | $18,463,159 |
Grants Awarded
Over the last fiscal year, Trustees Of New Castle Common has awarded $459,932 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF NEW CASTLE PURPOSE: TO PRESERVE AND ENHANCE THE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE. | $231,309 |
New Castle, DE PURPOSE: TO PRESERVE AND ENHANCE THE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE. | $149,981 |
New Castle, DE PURPOSE: TO PRESERVE AND ENHANCE THE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE. | $50,000 |
NEW CASTLE SENIOR CENTER PURPOSE: TO PRESERVE AND ENHANCE THE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE. | $15,000 |
New Castle, DE PURPOSE: TO PRESERVE AND ENHANCE THE ASSETS OF THE TRUST FOR THE BENEFIT OF THE INHABITANTS OF NEW CASTLE. | $13,642 |
Endowment Analysis
| Beg. Balance | $9,900,727 |
| Earnings | -$35,731 |
| Admin Expense | $47,902 |
| Other Expense | $30,962 |
| Ending Balance | $9,786,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Linganore Association Inc New Market, MD | $10,199,975 | $5,995,596 |
Trustees Of New Castle Common New Castle, DE | $18,463,159 | $4,025,581 |
Laura E Price Briggs Estate 4042008-Te Pittsburgh, PA | $36,510,296 | $1,566,500 |
Hidden Valley Foundation Inc Hidden Valley, PA | $3,819,746 | $2,615,880 |
Hazelwood Initiative Inc Pittsburgh, PA | $12,916,299 | $2,940,670 |
Pennsylvania Apartment Association Bala Cynwyd, PA | $1,420,169 | $1,873,030 |
Community Associations Institute Freehold, NJ | $1,217,432 | $1,313,461 |
Long Reach Community Association Inc Columbia, MD | $852,759 | $852,995 |
Keystone Chapter Community Asso Int Conshohocken, PA | $663,340 | $858,524 |
Rwbid Management Company Wilmington, DE | $444,712 | $623,081 |
Columbia Town Center Residential Community Association Inc Columbia, MD | $466,497 | $568,193 |
River Hill Community Association Inc Clarksville, MD | $343,093 | $546,121 |