Dudley Economic Empowerment Partners Inc
- Assets
- $7.8m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Roxbury, MA
- Founding
- 11/1996
- Data as of
- 09/2021
- EIN
- 04-3292135
Organization Overview
Dudley Economic Empowerment Partners Inc is located in Roxbury, MA. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dudley Economic Empowerment Partners Inc 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 09/2021, Dudley Economic Empowerment Partners Inc generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.8% each year . All expenses for the organization totaled $624.0k during the year ending 09/2021. 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
THE PRIMARY MISSION OF DEEP IS TO PROMOTE ECONOMIC DEVELOPMENT; TO IDENTIFY AND ALLEVIATE STRUCTURAL CAUSES OF BUSINESS DECLINE; TO INVEST IN THE COMMUNITY BY PURCHASING AND HOLDING STRATEGIC PROPERTY FOR DEVELOPMENT; TO GUIDE ECONOMIC DEVELOPMENT PROCESSES AS A TRUSTEE OF THE COMMUNITY RESIDENTS; AND TO DO ALL ACTS PERMITTED UNDER THE PROVISIONS OF CHAPTER 180 OF THE GENERAL LAWS OF MASS. AND SECTION 501 (C)(3) OF THE IRS CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEEP MAINLY SERVES AS THE DEVELOPER/REAL ESTATE ROLE FOR THE YBB/DEEP OPERATIONS. AS A LANDLORD, THE DEEP PROPERTIES' TENANTS OPERATE A 100 SLOT DAY CARE CENTER. THE TENANT PROVIDES MENTAL HEALTH AND SHELTER CARE SERVICES TO CLIENTS ACROSS THE CITY. IN ITS ROLE AS A DEVELOPER, DEEP'S AFFORDABLE HOUSING PROJECT WAS 23 RUSKENDALE STREET, WHICH SERVED AS A TRAINING SITE FOR MORE THAN 30 TRAINEES DURING THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Goemaat Co-President | OfficerTrustee | 1 | $0 |
John Wolff Co-President | OfficerTrustee | 1 | $0 |
David Harris Clerk | OfficerTrustee | 1 | $0 |
Kenneth Willis Treasurer | OfficerTrustee | 1 | $0 |
Kenneth Smith Executive Director (thru 11/20) | Officer | 1 | $0 |
Brian Mcpherson Executive Director (as Of 11/20) | Officer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $305,131 |
| Investment income | $33 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,439,451 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,951,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,000 |
| 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 | $184,320 |
| Fees for services: Legal | $3,642 |
| Fees for services: Accounting | $40,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,205 |
| Advertising and promotion | $0 |
| Office expenses | $22,822 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $155,064 |
| 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 | $104,889 |
| Insurance | $33,992 |
| All other expenses | $14,093 |
| Total functional expenses | $624,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,511,275 |
| 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 | $4,223 |
| Net Land, buildings, and equipment | $1,758,540 |
| Investments—publicly traded securities | $3,813,495 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $747,386 |
| Total assets | $7,834,919 |
| Accounts payable and accrued expenses | $14,055 |
| Grants payable | $0 |
| Deferred revenue | $12,619 |
| 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 | $2,022 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $28,696 |
| Net assets without donor restrictions | $7,806,223 |
| 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 | $7,834,919 |
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