Marietta Redevelopment Corporation
- Assets
- $0.0
- Revenue
- $115.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Marietta, GA
- Founding
- Data as of
- 04/2017
- EIN
- 55-0849104
Organization Overview
Marietta Redevelopment Corporation is located in Marietta, GA. Marietta Redevelopment 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 04/2017, Marietta Redevelopment Corporation generated $115.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (24.8%) each year. All expenses for the organization totaled $127.1k during the year ending 04/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
MARIETTA DEVELOPMENT CORPORATION'S PRIMARY ROLES ARE TO ADVISE THE CITY COUNCIL ON REDEVELOPMENT MATTERS, TO FACILITATE EFFORTS BY THE PRIVATE SECTOR TO INVEST IN THE COMMUNITY, TO MAKE STRATEGIC REAL ESTATE INVESTMENTS IN BLIGHTED AREAS AND TO ASSEMBLE PROPERTIES FOR REDEVELOPMENT WHERE NEEDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PROGRAM SERVICE IS IMPLEMENTATION OF ONGOING REDEVELOPMENT PROJECTS BY REVITALIZING NEIGHBORHOODS, COMMERCIAL AREAS AND OTHER DISTRESSED/BLIGHTED PROPERTIES.
MARIETTA REDEVELOPMENT CORPORATION WORKS WITH THE CITY OF MARIETTA TO ACCESS FEDERAL GRANT FUNDS TO DEMOLISH BLIGHTED PROPERTIES BASED ON THE REDEVELOPMENT PLAN FOR THE AREA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Floyd Northcutt Board Member | Trustee | 1 | $0 |
Pete Bilson Board Member | Trustee | 1 | $0 |
Brian Strack Board Member | Trustee | 1 | $0 |
James Gantt Faustet Board Member | Trustee | 1 | $0 |
Hall Rigdon Board Member | Trustee | 1 | $0 |
James Waters Board Member | Trustee | 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 | $86,568 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,568 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,633 |
| 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 | $115,201 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,701 |
| 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 | $88 |
| Fees for services: Accounting | $2,100 |
| 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 | $7,378 |
| 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 | $75,413 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,423 |
| All other expenses | $0 |
| Total functional expenses | $127,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |