Center Redevelopmemt Corporation
- Assets
- $3.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 5
- Location
- South Hadley, MA
- Founding
- 02/1989
- Data as of
- 06/2024
- EIN
- 04-2939950
Organization Overview
Center Redevelopmemt Corporation is located in South Hadley, MA. The organization was established in 1989. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Center Redevelopmemt Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center Redevelopmemt 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 06/2024, Center Redevelopmemt Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.6m during the year ending 06/2024. While expenses have increased by 2.1% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
HOLDING PROPERTY TO PROMOTE THE EDUCATIONAL MISSION OF TRUSTEES OF MOUNT HOLYOKE COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS AND SERVICES AS WELL AS ACQUIRE AND HOLD REAL AND PERSONAL PROPERTY FOR THE BENEFIT OF THE TRUSTEES OF MOUNT HOLYOKE COLLEGE (EIN: 04-2103578), A 501(C)(3) EXEMPT ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Labrecque COO / Director Of Operations | OfficerTrustee | 40 | $146,626 |
James F Carey CEO / Director | OfficerTrustee | 10 | $66,489 |
Deborah Buckley Chair End 10/25/23; Director | OfficerTrustee | 0.25 | $0 |
Wayne D Gass Treasurer End 10/25/23; Director | OfficerTrustee | 0.25 | $0 |
Stephen N Krevalin Clerk/director | OfficerTrustee | 0.25 | $0 |
Peter H Barry Vice Chair Thru 10/25/23 Then Chair; Director | OfficerTrustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ondrick Materials & Recycling Paving | 6/29/23 | $132,597 |
Reidy Heating & Cooling Inc Install, Repair Hvac Systems | 6/29/23 | $114,394 |
Al Bristol & Sons Inc Masonry Repairs, Snow | 6/29/23 | $112,354 |
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 | $1,567,775 |
| Investment income | $40 |
| 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 | $1,567,815 |
| 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. | $235,561 |
| Compensation of current officers, directors, key employees. | $235,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $190,550 |
| Pension plan accruals and contributions | $3,221 |
| Other employee benefits | $28,718 |
| Payroll taxes | $30,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,440 |
| Fees for services: Accounting | $19,417 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,424 |
| Advertising and promotion | $44,999 |
| Office expenses | $3,687 |
| Information technology | $12,496 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,675 |
| Insurance | $76,229 |
| All other expenses | $105,452 |
| Total functional expenses | $1,607,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,094 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,139 |
| 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 | $97,761 |
| Net Land, buildings, and equipment | $2,828,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,900 |
| Total assets | $3,196,739 |
| Accounts payable and accrued expenses | $74,247 |
| Grants payable | $0 |
| Deferred revenue | $26,520 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $114,001 |
| 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 | $53,469 |
| Total liabilities | $268,237 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $647,519 |
| Paid-in or capital surplus, or land, building, or equipment fund | $18,694,111 |
| Retained earnings, endowment, accumulated income, or other funds | -$16,413,128 |
| Total liabilities and net assets/fund balances | $3,196,739 |