Smith Hill Community Development Corporation
- Assets
- $3.7m
- Revenue
- $666.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Providence, RI
- Founding
- 10/1992
- Data as of
- 06/2023
- EIN
- 05-0466422
Organization Overview
Smith Hill Community Development Corporation is located in Providence, RI. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Smith Hill Community Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smith Hill Community Development 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 06/2023, Smith Hill Community Development Corporation generated $666.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $532.0k during the year ending 06/2023. While expenses have increased by 2.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORHOOD REVITALIZATION FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD REVITALIZATION INCLUDING ACQUISITION, DEVELOPMENT, SALE AND RENTAL OF PROPERTY FOR LOW AND MODERATE INCOME PERSONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raquel Perez Chairperson | OfficerTrustee | 1 | $0 |
Heather Gaydos Co Chairperson | OfficerTrustee | 1 | $0 |
Ian Budish Treasurer | OfficerTrustee | 1 | $0 |
Justin Roias Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Casa Buena Builders Construction Contractor | 6/29/22 | $201,381 |
Spain Environmental Construction Contractor | 6/29/22 | $177,297 |
Melucci Construction Construction Contractor | 6/29/22 | $122,738 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,889 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,889 |
| Total Program Service Revenue | $339,005 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $276,342 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $666,221 |
| 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 | $53,728 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,037 |
| Payroll taxes | $4,637 |
| Fees for services: Management | $15,397 |
| Fees for services: Legal | $9,472 |
| Fees for services: Accounting | $15,351 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,535 |
| Advertising and promotion | $0 |
| Office expenses | $1,076 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,100 |
| Travel | $67 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $626 |
| Interest | $13,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,695 |
| Insurance | $43,285 |
| All other expenses | $12,143 |
| Total functional expenses | $531,972 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,430 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,417 |
| 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 | $18,853 |
| Net Land, buildings, and equipment | $2,921,531 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600,012 |
| Total assets | $3,702,243 |
| Accounts payable and accrued expenses | $115,835 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,166,337 |
| Unsecured mortgages and notes payable | $44,101 |
| Other liabilities | $26,785 |
| Total liabilities | $2,353,058 |
| Net assets without donor restrictions | $234,840 |
| Net assets with donor restrictions | $1,114,345 |
| 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 | $3,702,243 |