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 06/2022, 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 06/2022, Center Redevelopmemt Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 1.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeffrey Labrecque Chief Operating Officer/di | Officer | 40 | $133,793 |
James F Carey President/director | OfficerTrustee | 10 | $61,731 |
Deborah Buckley Chair/director | OfficerTrustee | 0.25 | $0 |
Wayne D Gass Treasurer/director | OfficerTrustee | 0.25 | $0 |
Stephen N Krevalin Clerk/director | OfficerTrustee | 0.25 | $0 |
Peter H Barry Vice Chair/director | OfficerTrustee | 0.25 | $0 |
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 | $1,457,168 |
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 | $1,457,408 |
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. | $219,028 |
Compensation of current officers, directors, key employees. | $219,028 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $161,927 |
Pension plan accruals and contributions | $4,170 |
Other employee benefits | $26,546 |
Payroll taxes | $26,290 |
Fees for services: Management | $0 |
Fees for services: Legal | $11,979 |
Fees for services: Accounting | $16,904 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $39,606 |
Office expenses | $3,947 |
Information technology | $17,476 |
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 | $150,359 |
Insurance | $64,017 |
All other expenses | $96,987 |
Total functional expenses | $1,437,878 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $444,373 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $19,073 |
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 | $68,879 |
Net Land, buildings, and equipment | $2,594,914 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $39,577 |
Total assets | $3,166,816 |
Accounts payable and accrued expenses | $65,075 |
Grants payable | $0 |
Deferred revenue | $120 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $90,060 |
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 | $155,255 |
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 | -$16,330,069 |
Total liabilities and net assets/fund balances | $3,166,816 |
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