Urban Advancement Corporation
- Assets
- $89.3k
- Revenue
- $47.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport News, VA
- Founding
- 10/2002
- Data as of
- 12/2021
- EIN
- 74-3044117
Organization Overview
Urban Advancement Corporation is located in Newport News, VA. The organization was established in 2002. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is the central organization for a national or regional group of organizations. Urban Advancement 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, Urban Advancement Corporation generated $47.2k 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 (14.4%) each year. All expenses for the organization totaled $64.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORATION CHURCH PORTSMOUTH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felton Hawkins President | 20 | $0 | |
Frances Tillman Treasurer | 15 | $0 | |
Janelle Minns Secretary | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $5,000 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $47,168 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $16,119 |
| Taxes | $7,845 |
| Depreciation | $2,366 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $30,704 |
| Total operating and administrative expenses | $59,494 |
| Contributions, gifts, grants paid | $4,500 |
| Total expenses and disbursements | $63,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,825 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $74,479 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $89,304 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Urban Advancement Corporation has awarded $26,686 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Newport News, VA PURPOSE: DONATION TO A QUALIFIED ORGANIZATION. | $22,000 |
ENDTIME CHURCH PURPOSE: DONATION TO A QUALIFIED ORGANIZATION. | $3,186 |
FULL GOSPEL COVENANT CHURCH PURPOSE: DONATION TO A QUALIFIED ORGANIZATION. | $1,500 |
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