Tn Development Corp is located in Columbia, SC. The organization was established in 1994. 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. TN Development Corp 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 06/2021, TN Development Corp generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. While expenses have increased by 0.3% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN THE DEVELOPMENT OF LOW INCOME HOUSING IN COLUMBIA AND INCREASE THE RESIDENTIAL BASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ASSISTING IN THE DEVELOPMENT OF LOW INCOME HOUSING IN COLUMBIA, SOUTH CAROLINA AND ATTEMPTING TO INCREASE THE RESIDENTIAL BASE OF THE COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Harrison C Joseph Executive Director | Officer | 40 | $0 |
Kevin K Werner Chair | Trustee | 1 | $0 |
Benny Clark Board Member | Trustee | 1 | $0 |
Vanzell Haire Board Member | Trustee | 1 | $0 |
Talesha Stewart Vice-Chair | Trustee | 1 | $0 |
Michael Adams Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $557,792 |
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 | $557,792 |
Total Program Service Revenue | $963,751 |
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 | $1,527,031 |
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 | $120,864 |
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 | $48,768 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $24,638 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $255,117 |
Insurance | $60,820 |
All other expenses | $2,194 |
Total functional expenses | $1,435,296 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $779,566 |
Savings and temporary cash investments | $100,000 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $117,524 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $554,791 |
Prepaid expenses and deferred charges | $32,743 |
Net Land, buildings, and equipment | $2,823,470 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,175 |
Total assets | $4,410,269 |
Accounts payable and accrued expenses | $70,507 |
Grants payable | $0 |
Deferred revenue | $44,253 |
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 | $3,303,921 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $140,804 |
Total liabilities | $3,559,485 |
Net assets without donor restrictions | $850,784 |
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 | $4,410,269 |
Over the last fiscal year, we have identified 1 grants that Tn Development Corp has recieved totaling $8,000.
Awarding Organization | Amount |
---|---|
South Carolina Association For Community Economic Development Charleston, SC PURPOSE: Bank on Columbia | $8,000 |
Organization Name | Assets | Revenue |
---|---|---|
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |
Partners In Hope Inc Myrtle Beach, SC | $10,489,405 | $3,015,967 |
C O R E Programs Inc Charlotte, NC | $3,904,146 | $3,649,405 |
Santee Lynches Affordable Housing And Community Development Corp Sumter, SC | $22,034,704 | $3,598,391 |
Clairmont Oaks Inc Decatur, GA | $12,058,022 | $3,642,909 |
Campbell-Stone North Apartments Inc Atlanta, GA | $5,676,706 | $3,972,920 |